The E-commerce industry has extraordinarily evolved in the last few years, and it is expected to reach a value of approximately $7.4 trillion worldwide by 2025. Indeed, it's gigantic!

So, if you are in the e-commerce sector, it’s high time to thrive your business in the coming years.

But how do you track your store's performance, analyze customer reports, optimize marketing strategies, and perform other crucial tasks? Don't say you rely on your guesswork and gut feelings.

An online business can't be run that way!

That's why you need an efficient analytics tool like Spotify to boost your business growth.

If you are new to Shopify Analytics and unaware of how to utilize it to take your business to a new height, as a prominent Shopify website development company in Delhi NCR, let us take you through this data-driven analytic tool –

What Is Shopify Analytics?

Shopify Analytics is a complete set of tools on Shopify that provides detailed analysis of different key performance metrics like sales performance, conversion rates, customer behavior, marketing strategies, and more. Based on the analytic reports, e-commerce entrepreneurs can make data-driven decisions and marketing strategies for better customer experience and sustainable growth.

Reports Offered by Shopify Analytics

Once business owners integrate Shopify Analytics into their e-commerce sites, they can access a wide range of valuable insights on –

• Sales reports

• Customer reports

• Finance reports

• Marketing reports

• Acquisition reports

• Profit reports

• Visitor's behavior reports

• Inventory reports

• Freud reports

• Report customization and more

How to Use Shopify Analytics for Your Online Business

If you want to leverage Shopify Analytics for the optimal benefits for your e-commerce business, contact a proficient Shopify website design agency in Delhi NCR to integrate the tools into your site professionally. Here are the basic steps you can follow –

• Set Your Business Goals

Every business must have clear, specific goals that will guide its owners to stay on track for business growth. With Shopify Analytics, you can set measurable goals, including sales, conversation rate, customer base expansion, and marketing campaign optimization.

• Analyze Customer Behavior

Shopify Analytics provides behavior reports to give insights into your customer's activities on your ecommerce store. You can utilize the reports to analyze metrics such as what products they are interested in (page views), how long they spend on pages (session duration), and where they drop off (bounce rates). The analytics will help you gain insights into their buying patterns and preferences so that you can personalize your marketing strategies.

• Evaluate Key Performance Metrics

Determine your business' key performance metrics aligned with your goals. You can include revenue, website traffic, conversion rates, customer lifetime value, and other criteria and analyze them over time to identify areas of improvement and take necessary measures.

• Monitor Financial Performance

With Shopify's financial reports, online retailers get access to review profitability, expenses, and cash flow. These reports also help them identify areas of various cost factors where they can increase profits and decrease expenses.

If you need help in integrating Shopify Analytics into your business website, feel free to contact a trustworthy ecommerce website development company in Delhi for professional assistance.

• Manage Inventory More Efficiently

Utilize your Shopify Analytics to manage your e-commerce inventory. These inventory reports can save you from stockouts. Instead, you can leverage the reports to identify your best and worst-selling products and customer's purchase trends.

• Optimize Marketing Strategies

Strategize your marketing campaigns with the help of Shopify's marketing reports. Now, you can track performances on multiple channels and social media and identify the right ones for the most traffic and conversions. With Shopify's marketing reports, you can optimize your marketing strategies for optimal results.

• A/B Testing and Experiments

Leverage Shopify Analytics for A/B testing and different experimentations on pricing, product details, website designs, customer interaction, checkout process, and so on. The reports from this analysis will help you choose the most effective strategies for your business growth.

• Data Privacy and Ownership

Business owners have full ownership of data collected on Shopify Analytics platforms. All merchant data is securely and discreetly stored on Shopify's servers.

Grow Your E-Commerce Business with MMBO

Understanding and leveraging Shopify Analytics can be a key factor for your e-commerce business growth. If used strategically, you can propel your business growth with smarter decisions.

With the help of a leading website designing company in Delhi NCR and Shopify Analytics, you can take your online store to a new level.

If you need any assistance with Shopify Analytics integration or other issues, contact MMBO right away!