10 Analytics Tools that Can Help you Stay on Top of your eCommerce Game
Mar 30 2023 7 min read
In today's increasingly competitive eCommerce landscape, CMOs and eCommerce directors need to make smart choices about the way they sell online.
And having the right analytics tools at their disposal is how they know which choices to make.
As a marketing leader, these tools enable you to make data-driven decisions, optimize your strategies, and drive revenue growth. And having a team capable of leveraging these tools well can make a big difference towards your company's performance.
In this blog post, we've rounded up 10 of the best analytics tools for eCommerce that can help your organization's performance reach new heights. Most enterprise eCommerce platforms (like SalesForce Commerce Cloud, SAP, Magento, etc.) will have an in-built suite of tools or plugins that give you analytics functionality. But these will only go so far: purpose-built eCommerce analytics software will give you a much better insight into your entire sales funnel.
From understanding customer behavior to optimizing pricing strategies, these tools bring insight to a variety of areas, empowering your teams to make smarter decisions.
Why you and your eCommerce team should use data analytics tools
As an eCommerce leader, you're likely aware of the massive amount of data your store generates daily, from transactional data and customer activities to user behavior and log files. Harnessing the power of this data is crucial for making informed decisions that drive sales and business growth.
That's where eCommerce analytics comes into play - by analyzing and uncovering hidden patterns and trends in your data, you can gain valuable insights that help you improve your store's current state and forecast future growth.
Using advanced eCommerce analytics tools is essential to fully capitalize on the wealth of data at your disposal. With these tools, you can effectively analyze the data generated by your store, allowing you to identify opportunities for improvement, optimize marketing campaigns, and tailor your customer experience to meet your audience's ever-evolving needs.
You'll see huge benefits from having staff well-versed in eCommerce analytics best practice on your team. Such individuals can help you make smart, data-driven decisions that boost your brand's performance. They'll be able to dive deep into user behavior, spot trends, and uncover growth opportunities that might have slipped under the radar.
Plus, they'll use this data to fine-tune your marketing strategies, pricing, and customer experience, driving up revenue and keeping your customers happy. In the creative flux of the eCommerce world, having a team with data analytics skills gives you the edge you need to make better decisions and stay ahead of your rivals.
The 10 Best eCommerce Analytics Tools
Databox is a customizable analytics tool that helps you track your eCommerce performance by merging data from multiple sources into a single, easy-to-understand dashboard. Key features include bespoke reports, real-time updates, visualizations, and integration with numerous data sources, including Google Analytics, Mixpanel, and Salesforce.
Databox lets you start with a need, like "how can I quickly see how this campaign is converting?" and satisfy it by building an interactive dashboard. It enables your teams to monitor and analyze all the essential eCommerce metrics, such as conversion rates, average order value, and customer lifetime value.
Providing a clear view of your data, Databox helps your teams identify trends, uncover opportunities for improvement, and make informed decisions that boost your bottom line.
With Databox, your corporate teams can quickly and easily access the data they need to make informed decisions. The customizable dashboard allows each team member to focus on the metrics that matter most to them, fostering a data-driven culture across the whole organization.
Hotjar is a comprehensive analytics and feedback tool that offers insights into user behavior on your website. It's one of the most highly-recommended tools out there for this important task.
Its key feature includes generating heatmaps of your store pages, letting you see exactly how visitors are using them. By visualizing user interactions, Hotjar helps your teams identify potential bottlenecks and areas for improvement.
As you can dive pretty deep with features like conversion funnel analysis, it really helps you make smart decisions about the purchase journey. It's great for enhancing the user experience and increasing conversions.
With Hotjar, your teams can gain a much deeper understanding of user behavior.
Crazyegg is another popular user behavior analytics tool that uses heatmaps, scroll maps, and click maps to provide insights into how visitors interact with your website. With its user-tracking features, Crazyegg helps your teams identify the elements of your eCommerce store that engage visitors and those that don’t work so well.
Watching this data closely, you can use it to improve the overall user experience to boost conversion rates. The data it reveals means you can tweak elements of your site with multivariate tests and see how they perform.
Crazyegg offers a simple and effective way to analyze user behavior (anonymously, of course).
Woopra is a real-time customer analytics tool that dives deep into every aspect of the customer journey on your online store.
By measuring the time customers spend on your site and analyzing their behavior patterns, Woopra offers valuable insights that can help you optimize the whole experience.
When customers abandon full carts or don't make a purchase, Woopra sheds light on the where, when, and why of their decision to leave, allowing you to identify any recurring issues. Armed with this information, you can make targeted changes to your site to address these problems and improve conversions.
It offers features such as segmentation, funnel analysis, and retention reports, giving your teams a comprehensive understanding of user behavior. Woopra helps your organization optimize the customer journey, identify trends, and uncover areas for growth.
Woopra shares some similarities with Crazyegg and Hotjar, but while those are designed for any type of website, Woopra is more focused on eCommerce business websites and online stores.
Glassbox is all about gaining insight into the customer experience through your online store. It’s a digital experience analytics platform that offers visitor session replay, customer journey mapping, and performance monitoring features.
It’s another tool to capture and analyze user interactions on your website, but also your mobile site or app – a crucial component of a modern eCommerce brand.
Glassbox helps your teams identify problem areas and optimize them to reduce shopping cart abandonment rates, bounce rates, and other drop-off points. From landing on your homepage, through the checkout process to the final sale, Glassbox will help your teams tinker with every part to make the perfect experience.
Optimizely is a really extensive eCommerce platform that helps business owners create digital experiences customers love.
It offers three main things: content marketing and management, customer experience experimentation, and monetization.
Like others we’ve looked at, the platform enables your teams to conduct A/B testing, multivariate testing, and personalization to optimize the user experience on your website. Through this experimentation it helps your teams determine which changes have the most significant impact on conversions and other KPIs.
Optimizely’s scientific approach covers all the devices a customer could use to visit your store, and its tools are user-friendly and really intuitive.
Latana offers a different way to improve your eCommerce performance.
It’s a brand tracking tool that uses advanced analytics to measure brand performance and gain insights into your different customer segments. By monitoring brand awareness, consideration, and preference over time, Latana helps your teams understand how their marketing efforts are impacting brand perception in the wider world.
With Latana, your corporate teams can identify which eCommerce trends they should respond to with their marketing strategies.
If you’re passionate about driving more customer acquisition through your eCommerce website, you need tools like Latana to first figure out what your customers care about. It uses quick mobile surveys to gain customer opinions and uses AI to provide insights through analytics dashboards. It’s one of the best eCommerce tools to use when you’re launching campaigns through social media, email marketing and other marketing channels, so you can really see quantified results on how they’re performing.
Then you can use the data to make sure your brand messaging resonates with your target audience and drives real business results.
8: Triple Whale
Triple Whale is an eCommerce price monitoring tool and competitor analysis engine for Shopify brands that provides real-time pricing data and useful market insights.
Triple Whale lets you track competitor pricing, product ranges and promotions. It helps your teams make informed decisions about your own pricing strategies, optimizing profitability and market positioning. Triple Whale integrates merchants’ data from Shopify, Facebook, Google, TikTok, and other popular apps to provide brands with a quick and transparent view into metrics that matter.
For store owners, Triple Whale is an analytics solution that provides actionable insights that help them stay ahead of the competition, optimizing pricing to drive revenue growth.
Mixpanel is a product analytics platform that focuses on user behavior and engagement. With features including user event tracking, funnel analysis, and cohort analysis, Mixpanel provides your teams with a deep understanding of how users interact with your website and products.
It’s an extensive system that can be highly customized, with APIs and integrations with a ton of other eCommerce marketing and selling platforms.
One of its major benefits is automatic monitoring and alerts: these are instant notifications that inform you when your key metrics go up or down unexpectedly.
10: Google Analytics
Finally, we have one of the most widely-used (but seriously underrated) eCommerce data analytics dashboards.
Google Analytics is a widely used web analytics service that tracks and reports website traffic, providing insights into user behavior, acquisition, and conversions. While most people know it for showing website visitor demographics, it can do much more.
With its customizable reports, real-time data, and integration with other Google services, Google Analytics helps your teams monitor your eCommerce performance and make data-driven decisions to tweak your marketing strategies and website design. Google Analytics is an essential tool for understanding user behavior, identifying trends, and optimizing your SEO.
It’s a free tool that helps you make smart decisions that enhance your online business performance and drive revenue growth.
Steer Your eCommerce Ship with Data-Driven Confidence
Remember, most of the eCommerce data analytics tools we've gone through are great for surfacing data. They'll show you a wide range of figures and metrics for your store's performance, but won't necessarily highlight the insight you need to make decisions.
That's why CMOs and marketing leaders need to use their industry expertise and creative minds to bring out the best results.
That said, there's a lot of innovation happening right now in the AI digital marketing space. Soon enough, you'll be able to use an AI-powered chatbot to summarize your raw data into strategic insight. They'll probably still require human oversight, but AI software is opening up some amazing potential for quickly scanning and understanding large datasets.
Whatever route you choose, it might take a bit of experimentation to figure out what works best. Hopefully this list will help point you towards your next favourite eCommerce analytics app.
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