Now that Black Friday, Small Business Saturday, and Cyber Monday are all coming to a close, you have a lot of online store analytics about your business that has a serious impact on your bottom line. How do you get the most out of this data and make the analytics-supported decisions to drive your business forward? DataHero’s newest connection with Shopify allows you to pull in those analytics from Black Friday (and before) to identify the sources, products, regions and promotions that add the most to your bottom line.
To start analyzing your Black Friday data, create a free DataHero account, and import your online store analytics from Shopify in a few clicks. DataHero will create suggested charts for you based on your data, or you can create your own customized charts. What metrics should you track though, to avoid feeling paralyzed by all your Black Friday purchase data?
A great place to start is to look at how customers initially enter your site. You can also see if there is a relationship between the landing page, and purchases made by those same customers. A heat map is a great way to suss out relationships between variables, like the one below:
In the example above, we can see that most individuals who land on the page /men tend to have a high propensity to purchase Men’s Cargo Pants, while people who tend to land on the page /winter_promo are varied in the kinds of products they purchase.
Get a quick view of how ecommerce sales are performing broken down by region. Add filters for specific products or compare across departments.
Plot revenue by date and product to see how it affects your bottom line. You can even add in discounts or coupons to see how those differ by product.
For example, in the chart above we can see that Black Friday and Cyber Monday were the best days for overall revenue and Men’s Cargo Pants were the most popular product followed by Women’s sweaters.
You likely do some kind of email promotion around Black Friday. If you do, combine your MailChimp (or other email service) data with your Shopify data and see how that campaign performs in terms or driving visits to your site, or encouraging them to purchase. You can even analyze revenue by original email lead source. Did you get lots of email lists via social networks or fashion editorials? Measure how that contributes to your overall revenue.
Of course, your online store analytics shouldn’t begin and end with Black Friday, but you should pay special attention to your online store analytics after this weekend. Ready to find those business insights? Create a DataHero account, import your Shopify data, and let us do the rest.
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