Squarespace Analytics for Pros Part 3: Increasing Website Sales
Commerce analytics help you understand how well a business is performing. If you have commerce clients, it's vital to track revenue, orders, units sold, etc. In this dashboard, you'll learn which traffic sources generate the most sales and identify which products are the most popular.
Understanding why visitors purchase can help your clients formulate strategies to boost profits. For example, certain products or services may have seasonal hikes in sales, while others may generate little to no sales throughout the year. The latter begs the question — is the price too high? Or is the offer irrelevant?
Optimizing clients’ sites for conversions or sales holidays is a great way to set up new clients for success from day one, and to re-engage former clients as they grow and scale. It’s also easier when you understand how consumers behave throughout the purchase funnel. Here's a look at some of the insights you can pull from Squarespace’s built-in commerce analytics.
Sales Overview
In this panel of Squarespace Analytics, you'll glean insights on what's selling the best. This will show you metrics like revenue, orders, visits, units sold, conversion rate, revenue per visit, average order volume, and change over time.
With this information, you can develop strategies like:
Creating ad campaigns for top-performing products and services
Offering discounts for products that aren’t selling as well
Increasing marketing spend to acquire leads with high expected revenue per visit
Offering free shipping for orders higher than the average order volume (to promote higher revenue)
Hosting sales to boost profits when trends show a decline in revenue
Sales by Product
Know which products perform the best so you can help guide product selection in the future. Some high-performing units sell well based on trends, while others signal an emerging trend. For example, a certain pair of sunglasses may sell well because it's a current trend among social media influencers, but these typically don’t last long.
An increase in interest in a certain style of clothing may open the door to all sorts of product offers, including hats, sunglasses, and sweaters. This can predict a long-term trend worth investing in.
Keeping an eye on product sales will ensure your clients know when to discontinue a product or increase spend for advertising the items with high potential.
Purchase Funnel
How many visits does it take to convert a lead into a customer? The only way to know is to check the purchase funnel analytics. This showcases repeat visitors and their paths to purchase.
You might find that it takes an average of four visits to convert visitors into buyers. With this knowledge, you can formulate strategies to re-engage visitors multiple times to increase the odds of conversion.
One way to re-engage visitors and increase conversion is by creating an email nurturing campaign to develop a relationship with customers and improve the odds of them returning and converting sooner. Create nurture campaigns with Squarespace.
Abandoned Cart
A high abandoned cart rate is a bad sign for any business, but it can give you and your clients an indicator of a problem with the sales cycle. For example, maybe your client needs to offer more payment options.
Learn how to automatically send reminders to customers who add products to their cart and leave without completing an order.
Your clients can improve these issues by connecting a payment processor and allowing guest checkout for those who don't want to go through the additional step of signing up.
You can also encourage your clients to create an abandoned cart email campaign to help improve the chances of visitors returning and completing the purchase. They can also offer discounts to encourage visitors to come back.
In your dashboard, you'll see insights about recovered carts, so you know which strategies are working.
Learn more about Abandoned Cart Analytics.
Help your clients improve website performance
When you're equipped with the right data, you can help your clients make sound decisions for their business and marketing strategies. As a re-engagement tactic, consider doing an analysis of a clients’ site and suggest a few ways they can optimize their site right away, while opening the door to more changes that can be made. With Squarespace Analytics, you have all the information you need to be a trusted advisor and consultant to your clients.
Want more?
Check out these resources for more information on using Squarespace Analytics to amplify your clients’ digital strategies.
