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How Important Is Reporting? Very Very Important!

How Important Is Reporting

Payments

How Important Is Reporting? Very Very Important!

For many of you reading this article analytics and reporting probably seem pretty boring. In reality though, every successful organization in the ecommerce space has used analytics to improve their performance and get a leg up on competitors. That’s why this week, boring or not, we’re diving into the world of ecommerce reporting.

This article will walk you through some of our favourite reports and show you how you can start applying them in your organization today. We’ll be covering two areas in particular; website analytics and platform analytics and sharing examples for both. When combined, these two reports can tell you virtually everything you need to know about your customers and help identify opportunities to optimize your business.

So if you’re looking to take your ecommerce to the next level keep reading as we explore our favourite website and platform reports.

Website Analytics

One of the most popular tools to start collecting website data is Google Analytics. It a powerful tool that lets you monitor your customers behaviour and traffic patterns. These reports can give you information about marketing performance, popular content, and even onsite actions.

We’ll be using Google analytics in our examples below but other website analytics platforms will have similar options. Checkout our favourite website analytics reports below:

icon_01_Browser-Report

Browser Report

One of the most common areas where websites lose money is incompatibility with certain browsers. A great way your business can quantify this is by creating a custom report showing conversions per browser. This report can be further segmented by device (mobile, desktop, tablet) to gain additional insight on browsing patterns.

icon_02_Referring-Sites

Referring Sites Report

This report is great for identifying which sites referring to yours are providing the most value. Depending on how detailed you get with the report it can tell you everything from which sites are generating the most traffic to how much they contribute to overall goal conversions.

icon_03_Traffic-Acquisition-from-Social-Media-Report

Traffic Acquisition from Social Media Report

Social media has become a major driver of traffic in the past 10 years and understanding how your social marketing is critical to success. This report will show you not only which social media channels are driving the most traffic to your site but how much of that traffic is translating into meaningful business value.

Platform Reports

Platform analytics refer to the built in analytics on your ecommerce platform and provide information relating to popular products, average order size, and order volume. This can provide excellent insight into supply chain management as well as marketing and are loaded with potential optimizations. These reports were taken from PAYFORT’s backend reporting tool but similar options will be available on most ecommerce platforms.

icon_04_Main-Account-_-Sub-Accounts

Main Account & Sub Accounts

This powerful platform reporting tool helps your businesses continually optimize payment processes and increase conversions. The sub account shows you details about the specific entity your customer is transacting with while the main account aggregates the data from all sub accounts giving a holistic view of your organization.

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ONE-CLICK REPORTS

Gives easy to access transaction summary and Financial Reports to have the full visibility to the data and give access to the relevant departments to manage generating their reports.

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ORDER & TRANSACTION MANAGEMENT TOOL

One of the most useful platform based reports is the raw transaction data that tells you exactly how the business is performing. You can organize this chart based on transaction size, payment option, date, currency as well as a wide range of other criteria. If you want the clearest picture of how your business is performing this reporting is a must.

Conclusion

We understand that reporting isn’t the most exciting part of running a business, but the truth is it can potentially have the biggest impact on your success. Whether you’re looking to improve the performance of your website or understand what products are performing best, reporting can provide the answer.

If you would like to learn more about reporting be sure to follow PAYFORT on twitter. We will be releasing a guide to make all these reports in the coming weeks so be sure to check back regularly.

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Amira Abou Shousha

Online Marketing Manager PAYFORT

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