Magento Analytics and Reporting
Magento’s Analytics and Reporting suite of features enable you to systematically, objectively and easily increase traffic and conversion rates, which directly produce more dollars in revenue for your business.
In simplest terms, Google Analytics shows you how visitors found your website and what they did when they got there. Magento’s Analytics and Reporting fully integrates Google Analytics with Magento. The Magento admin panel allows you to automatically place Google Analytics on each page of your store website, and allows you to adjust the exact placement of the scripts to facilitate the new AJAX-optimized version of Google Analytics which greatly decreases page-load times.
Built in Reporting
Magento’s built-in reporting suite provides detailed statistics on what was purchased, when it was purchased and who purchased it. Magento Analytics and Reporting also tracks repeat customers and enables you to analyze why and how people become repeat customers. Using this analysis you can increase the rate at which existing customers purchase again from your store.
Perhaps the most powerful of Magento’s Reporting and Analytics features is the full integration with Google’s Website Optimizer. You know you need to improve your conversion rate; but how? Marketing studies have repeatedly shown that conversion rate improvements are counter-intuitive and that HiPPOs in your organization (Highest Paid Person’s Opinion) are often incorrect and lead to website changes that actually reduce your conversion rate. You need an objective way to measure the results of changes as quickly as possible. This is what Google’s Website Optimizer does for a living.
Easy A/B Testing
Google’s Website Optimizer allows you to learn quickly, fail fast, and move decision making out of the realm of intuition and feelings and into the realm of objective, scientifically-based, simple statistics. These statistics allow you to make decision based on fact rather than emotion. Testing occurs through two main testing methodologies. A/B Testing and Multivariate Testing.
The A/B Testing methodology allows you to setup multiple webpages in their entirety. Google scripts embedded in your site create a round-robin presentation of the web pages that are part of the test. Visitor one sees the first version of the page setup in your testing, visitor two sees the second, and so on. Once all of your configured test pages have been seen, the scripts start over with the first page. The key statistics include not only the conversion rate comparison between the test webpages, but also the conversion rate as a percentage increase or decrease from the original webpage.
Fine Tune with Multivariate Testing
The Multivariate Testing methodology allows you to define multiple versions of the different elements that make up a single webpage. You can define different headers, text blocks, images, calls to action and footers. Google scripts embedded in your site automatically and methodically present different combinations of those defined elements to visitors to your website. Google’s Website optimizer keeps full statistics on which combinations perform better or worse against each other and against the original version of the webpage.
Magento’s Analytics and Reporting will generates the scripts that Google uses to perform the tests and gather the statistics directly from the Website Optimizer into the Magento Admin webpages. The statics generated will help you eliminate pages with negative, relative conversions very quickly, and analyze and build on the changes that resulted in higher conversion rates against the original page and against the other test pages and/or test elements.
You drive traffic to you website every day for one purpose: conversion – a click. Your business is a machine designed to turn these conversions into dollars. More conversions on your webpages mean more revenue dollars for your business. Magento’s Analytics and Reporting features provide several, fully-integrated mechanisms to drive more traffic to your website and improve conversion rate.