Gathering data about your customers helps your business make smarter product development, marketing, and creative decisions that can improve efficiency and give your company an edge over competitors. Nearly two-thirds of retailers report a competitive advantage because of using data analytics, reports Digital Commerce 360, and more businesses are applying data gathering to more parts of the retail process to gain benefits.
With ecommerce, customer data gathering tools can help your business learn:
- Customer location demographics
- Most popular product pages
- What pages visitors spend the most time viewing
- The full customer journey, including what items they’ve added to carts they later abandoned
- Leaks and bottlenecks in your sales funnel
When you use North American Bancard as your merchant services provider, you get access to a powerful data gathering tool called MyBizPerks Insights, which provides you with impressive features such as revenue comparison and a view into how your customers spend their money.
Here is more information on five customer analytics tools, including MyBizPerks Insights, to consider for your business to learn more about your customers and make more intelligent decisions.
1. Google Analytics
Google Analytics is a free customer data tool that crawls your business website to deliver information showing what pages customers visit the most, how much time they spend on each page, what websites are referring the most customers to your business, where your visitors live, what pages have the highest bounce rates, how many return visitors you have, the most popular times of day people visit your website, and much more.
You can create custom tracking campaigns with unique URLs, such as social media campaign events, to view conversions based on what you’re marketing. The tool allows side-by-side comparisons of results from comparable time frames, as well as directly view any paid Google AdWords campaigns you are running in one dashboard.
2. Crazy Egg
While Google Analytics tells you which pages are resonating most with customers, Crazy Egg offers a heat map tool that shows your business which individual on-page elements visitors focus on the most and where they drop off. It also provides a scroll map tool, showing how far down users are scrolling through a page, and where they tend to abandon.
Crazy Egg’s overlay tool segments all the clicks you’re getting on a page, while the confetti tool segments clicks based on referral sources, so you can see what your most powerful site referrers are. You can also view what call to action buttons are most likely to convert and what the most powerful anchor text on your site is, so you can apply those best practices elsewhere.
Integrate your key performance indicators into the Kissmetrics analytics suite, and it will automatically alert you when you need to focus on one that needs help. The Kissmetrics funnel report gives your business insight into the journey users are taking, so you can see where site abandonment is occurring and improve your lead-to-conversion ratio.
With Kissmetrics, you can also set up A/B tests on signups, sales, activation, cancels, and other activations and compare side-by-side results to tweak your campaigns. Kissmetrics also allows you to track user behavior over time, so you can improve how you market to customers and maintain consumer momentum. Rich user demographics provide insights into the complete historical behavior of each user, too, so you can identify patterns and retain more customers.
Get as granular as you’d like with analytics from FullStory, which provides both aggregate data and individual data through back-and-forth access. Like the name implies, FullStory captures all clicks, page transitions, and keypresses, with easy keyword search capability to find the exact data you need instantly. Build campaigns within FullStory, and get tracking on every action related to them. Different teams within your business can get access to the exact analytics they need.
If your business has puzzling bounce rates or needs to fix a problem but isn’t sure where to start, FullStory’s “frustration detection” shows potential user interface issues that are turning off customers. The tool also provides businesses with suggestions on how to improve aspects to increase conversions.
5. MyBizPerks Insights
Finally, MyBizPerks Insights helps your business increase revenue with vital intelligence related to customers and how they’re interacting with your competitors, too. MyBizPerks Insights alerts you to how much revenue you’re making from new versus returning customers, and tells you what customers are saying about your business on social sites such as Facebook, Yelp, Google+, and Twitter.
You also get instant alerts regarding the local business landscape, including revenue trends. MyBizPerks Insights also segments trends in a calendar viewpoint, so you can see how certain holidays, weather trends, and big events are expected to impact your customers’ behavior and business revenue.
Want to learn more about MyBizPerks Insights and the customer data information you can get by using NAB? Contact us here for merchant services provider information.