Digital Analytics – What is the most important customer group?
many e-commerce managers struggled to understand online users’ behavior, so
they could turn their portals into more efficient sources of revenue. At first,
most of the activities and promotions were designed and focused on engaging
both existing and new users, with the focus varying from time to time between
the two groups; however the realty in most cases was that decisions were based
primarily on personal opinions and current trends.
Despite spending hundreds of hours and several years analyzing web analytics,
hoping to distinguish between these two groups, it has become clear that the more
one learns about them, the more difficult it is to identify the difference
between them. One of the main reasons for this is that overall, technology is
evolving at a much faster pace than analytics technologies are, or at least it
feels that way for most small businesses.
When Google released the Real-Time Data component to Google Analytics, I felt
that most of my business dreams were about to come true. As a young boy I
remember being trained by my dad about how to approach customers. He had told
me to approach a customer that had just entered the store. I hesitated because
I saw that there were other people that were also about to open the door and
come in, so I asked him, “Who should I talk to first?” He replied, “The most
important customer right now is the one inside of the store.” Along those
lines, if you were to ask me today which customer group is more important I
would definitely answer, “The one currently browsing your website!”
With Real-Time Google Analytics you can have real time data that will allow you to push content and specific data, in order to generate revenue. You can do this because you can effectively monitor the results of new campaigns and site-to-site content (prices, coupons, etc.) based on the traffic demographics. With Real-Time Data available it becomes much easier to see key data such as:
- The number of people currently browsing your site
- Their geographic locations and the traffic sources that referred them
- Number of incomplete orders (cart abandonment)
- Which pages or events they're interacting with, and which conversions goals are working best
In conclusion, there are no shortcuts when it comes to managing a successful e-commerce portal. The more time you spend understanding your customer base, the better businessperson you will become. Making the right decisions and minimizing your investment risk will depend on how much time you are willing to spend to understand your customers.