E-commerce platform Bigcommerce has released a real-time analytics program for small and medium sized online retailers.
The analytics dashboard appears as a tab in Bigcommerce and gives an overview of the retailer’s performance online. The top row of stats shows total number of orders, revenue, customers, visits, conversion rate and average order value.
A purchase funnel displays the number who visited, shopped, added to cart and purchased. The app includes an abandoned cart section including abandoned revenue, carts, abandon rate and the top three most abandoned products.
Retailers can use the dashboard to see the top five products and their rise in ranking, top categories and top visit origins by revenue. The latter helps retailers decide whether to spend their marketing dollars on Twitter or Pinterest by showing revenue, visits and conversion rate by channel.
“The largest and most successful retailers know that data-driven insight is the secret to creating new revenue opportunities,” said Tim Schulz, senior vice president of product at Bigcommerce, in a press release.
“Bigcommerce Analytics brings a level of customer insight that was previously only available for the largest brands at a significantly higher price point. Bigcommerce is bringing enterprise-grade technology to Main Street retailers at a price point designed for SMBs.”
The Bigcommerce analytics dashboard is part of the Bigcommerce platform so the statistics are drawn from transaction and catalog data within the app itself.
- Actionable customer-level insights. The dashboard makes it easy to keep tabs on the real- time metrics that matter most, including orders, conversions and merchandising.
- One place to measure marketing and social media. Detailed analysis on which marketing campaigns are generating the strongest results.
- Information on dynamic merchandising inputs. Merchants can see what products are selling based on promotions, email and social media channels.
- Inventory optimisation data. Merchants can optimise inventory based on current sales data, instead of old forecasts, to make smarter decisions regarding markdowns and promotions.
- Identification of most promising customers. Merchants can better analyse and understand the behavior of returning customers, as well as former shoppers who have gone quiet – and then execute targeted campaigns to drive higher conversions.
- Lost revenue recovery. Merchants see how shoppers are moving through their sites, identifying potential roadblocks and opportunities to streamline the purchase experience to reduce cart abandonment.