Retailers’ Digital Analytics Trends for 2022
Digital analytics covers all methods and programs that measure and analyze the traffic and behavior of web visitors across all devices. The resulting Digital Analytics Trends can provide insight into which measures were successful and will be used to inform online marketing strategies or as part of an Audit for SEO.
What is the Connection Between Web Analytics, Digital Analytics, and Digital Marketing?
These terms can’t be interchanged, though they are sometimes confused. Web analytics, which is one component in digital analytics, deals with data specific to your website. This includes metrics like traffic, bounce rate and unique visitors. Google Analytics is the most widely used tool for measuring web metrics.
Digital marketing is based on digital analytics data. This allows for the creation of a strategy that delivers what customers need when and where they need. This naturally leads to higher conversion rates.
How to Measure Data Digital Analytics?
Any digital channel that has a positive impact on your bottom line is one of the data sources for digital analysis. This could include your website, social media platforms and newsletter campaigns. It also includes paid digital advertising.
Digital Analytics uses multiple tools because it draws data from multiple sources.
Here are some of the most important Digital Analytics Tools.
Google Analytics allows you to track and measure data from many digital platforms, but particularly web metrics and customer behavior. Although web metrics are only one part of Digital Analytics it can provide valuable information that will allow you to understand your customers and their buying journey. Google Analytics can show you when someone abandons the purchase process. This information will help you make better decisions about how to improve your checkout process.
Google Analytics integrates with other online platforms such as Google Ads to measure traffic from various sources. This makes it a useful tool for getting a comprehensive overview of your digital analytics.
Google Search Console:
Google search console reports how your website is being indexed. This includes detailed information about your search traffic, and any technical issues like loading problems, server errors or security concerns that could be impacting your traffic. This tool is essential in helping you determine where your website is failing to convert. Visibility is key to increasing conversions.
Google Ads lets you reach your customers using a variety of pay-per-click advertising methods depending on your goals. These include shopping, display, search and remarketing. Google Ads can be used to measure the success or failure of campaigns, as well as Google Analytics. Google Ads lets you track many metrics such as:
The ad position is the place where your ad appears in search results.
The Ad Placement Can be a Sign of the Quality of Your Campaign.
- Impressions is the count of how many times your ad has been shown.
- Clicks are when someone clicks on your advertisement. This is the time you are charged.
- Conversions are combined with cost per acquisition is the best metric to determine your ad’s effectiveness.
Digital Analytics is Crucial in Marketing:
Digital analytics gives you the solid foundation of hard data to build your marketing structure. You’re building on uncharted ground. It could be a swamp, or quicksand. Digital marketing analyzes that data and determines what is working and what is not. Then, it develops strategies to maximize the good and improve the bad, so your business can grow as fast and efficiently as you need.
The digital landscape is so complex that it is nearly impossible to determine which digital channels provide the highest return on investment.
Digital marketing is an evolving, living process that involves many components that can change due to a variety of factors. It is all based upon people’s wants and needs. Trends and impulsive behaviors can all play a part.
A cyclical approach is the best way to improve your digital marketing strategy. This “continuous Improvement” strategy involves the following steps: measurement, reporting analysis, testing, and repeat. You will stay on top of all issues and be able to adapt to new circumstances.
It is much easier to achieve your business goals if they are clear. It is important to review your business goals and analyze whether they are being met.
Next, test these metrics to determine what next. Then, repeat the process and make any necessary changes.
Retailers’ Digital Analytics Trends for 2022
Even though we are already halfway through the 2020 first quarter, it is worth noting web analytics trends that will most likely shape the year and possibly beyond. The Brisk Logic team has compiled three of these eCommerce marketing analytics trends.
1.The importance of business intelligence in how retailers engage with their customers will grow:
To understand your customers you need to get to know them. It is impossible to assume that they will love a product because we, as the seller, think it’s great. How can we get to know our customers better?
To uncover these insights, it is important to first gather data
- This gives us a clear picture of their experience and
- Their privacy is not violated.
Step one in understanding your customers is to ensure that your technical house is in order. Have you ever taken a comprehensive look at the data collection processes in your company?
Here are some questions that will help you get your team moving in a positive direction.
- What are the best ways to use custom dimensions and metrics?
- Is our data layer able to feed current, accurate data into our analytics platform
- Are our data organized and easy to find for those who require/use them?
- How can we use integrations?
- What can we do to make enhanced eCommerce more effective?
After we have connected all the analytics pipes, it is time to understand this data. Data visualization and dashboards allow us to present data in an easy-to-understand and actionable way. There is so much data available, but we need to be able to see the important information. Only then can we use the data to connect with customers.
- Retailers can improve product and marketing customization by optimising and doing real-time analysis
As we analyze our data, patterns often emerge. One user might browse products that have a common thread. A product might see an increase in sales on certain days of the week. These patterns can help online retailers craft personalized messages to customers. We can start to suggest products that buyers are most interested in, and do this in real time.
We can optimize advertising budgets to maximize return on investment, beyond product recommendations. We can make predictive analysis using the data we collect to determine the adjustments that are needed to produce positive results for our company. This is particularly important for retailers that sell during peak seasons.
This will enable teams to adjust their advertising spend immediately, rather than waiting until next year. This level of advanced analytics is now possible for your marketing analytics team. This analysis level can also be used for other business purposes, such as predicting inventory requirements or determining the optimal pricing of a product.
3. Retailers will be able to close the gap between online and offline sales.
In terms of percentage sales, online shopping has only recently surpassed brick and mortar shopping. Online sales are definitely taking place, but shoppers still prefer physical stores. This means digital analysts must find ways to bridge the gaps between the two.
Let’s suppose that a customer is first exposed to your product online. A friend may recommend a product to them, or they might interact with an advertisement. They may be tempted to buy your product after seeing it in person. Unique identifiers such as your CRM customer ID will enable you to trace your customer’s journey to purchase and link in-store purchases with online brand engagement.
A cosmetics brand, has made it possible to connect online and offline activities by allowing customers access their website to book appointments in-store. They can connect with customers in digital spaces by understanding their customer interactions with their products in-store.
This type of analysis can be done easily and inexpensively, thanks to the availability of technology. Google Ads’ store visits conversions provide insight into which ads are driving traffic towards your physical store. Marketers can connect their CRM data to their analytics platform to enable them to re-engage customers after an in-store sale or build communities around customers who return products for a refund.
In 2022, take your retail marketing analytics to new heights
Retail marketers can create a data-centric strategy with the right tools. Brisk Logic experienced team can help you ensure that your retail business is at the forefront of digital marketing analytics. We have a team of highly-skilled analytics consultants who are dedicated to helping some of the most recognizable retail brands in the world. They can help you understand your customers and assess the effectiveness of your marketing spending.
Digital Analytics is key of Bottom Line
You should use a variety of digital analytics tools to track the performance of your online platforms. Online presence is essential for any business. You also need to track your efforts.
First, define your business goals. Next, use the best digital analytics tools to test them. You should at the very minimum be using Google Analytics and Search Console to measure your data. You can use the digital data analysis to see if your business goals align with your customers’ needs and wants. Once you have a clear picture of the needs of your customer, adjust your objectives and then test again.