Ecommerce reporting - How to quickly increase profits in an e-commerce shop? Data analysis with WitCloud
We all know that data is essential to make the right business decisions. This is especially true for e-commerce, where a solid analysis allows you to significantly increase sales, margins and profits. However, it’s difficult to monitor our marketing activities on all channels and platforms at the same time. In such cases you may consider checking out modern tools to help you with data collection, integration and analysis - such as WitCloud. So, what is it and how does it work?
What is WitCloud??
WitCloud is a tool which helps with processing, integrating and analysing data from Google platforms and clouds. It integrates all your analytics, marketing and business information into a single report instead of using several separate and dispersed tools. With WitCloud, they are presented so clearly that you to immediately use them to analyse and optimise your advertising campaigns.
How does WitCloud work in practice?
First, at WitCloud we combine data from both Google Analytics and your online shop. Then we integrate it with analytics from Google Ads, Facebook, Ceneo, Criteo and other marketing platforms used to promote your business. Once integration is done, the tool generates a comprehensive report which clearly indicates your investment in each activity and return on investment. As a result, you can choose the most effective promo channels.
How to analyse data with WitCloud?
WitCloud allows you to generate different types of reports. Each of them is fully automated so you can clearly see which marketing channels are the most profitable. See the example below:
After a short analysis, you can easily notice that the highest number of transactions and the highest profit was generated by the investment in Google Ads Search. The owner of the report can quit from using ineffective Google Ads Smart Display and allocate the budget to more effective channels.
How does WitCloud calculate profit? The tool works by combining online data with your CRM, ERP and other databases or spreadsheets. Then it automatically calculates margin, ROI and other metrics which affect the profitability of your business. It gives you a comprehensive source of correct and complete data describing all your marketing activities.
How to increase your e-commerce profits with WitCloud?
We all know that the more you have, the more you desire. Now, as you already posses complete, correct and integrated data, it’s time to use it to increase profit from your online shop. But how to do it right? There are at least several options.
Firstly, take a look at how much money you have invested in each category, brand or product in your portfolio and how much you have earned from them.
Unfortunatley, in Google Analytics we can't see costs for products, categories ora brands dimensions, so we are not able to count ratios like ERS or ROAS:
Luckily, in WitCloud you can find reports enhanced with additional, valuable data:
In the chart above you can see the sales results of each product category from a clothing shop. Having integrated all marketing costs, calculated net revenue and profit, you can easily select the categories in which advertising expenses need to be reduced (due to high ERS). It’s easy to recognize the best selling categories and those where marketing activities can be intensified. Such a quick analysis and optimization will immediately improve the results of your campaigns.
Secondly, by observing the different types of advertising and marketing channels, you can decide which sources are most profitable to invest in. To do this, you can use attribution models. You can read more about them in our article about the best attribution models. However, keep in mind that most of the solutions available on the market do not take into account the quality of sessions and marketing investments. WitCloud, however, integrates all the data and most recent attribution models, such as funnel attribution which considers user behaviour on the site. By using such tools you can achieve the most complex marketing budget management.
As you can see, you can easily compare the effectiveness of traffic sources across all attribution models (even ERS or ROAS) in a single snapshot. Moreover, WitCloud analyzes your current spendings and suggests how to optimise your budget depending on the attribution model you are operating in. This will make it even easier and faster for you to match your investments with your business goals.
WitCloud and Google Ads
Hold on, we’re still not done with WitCloud reports’ functionalities. To boost your business results, you can export the net revenue, profit and conversions in each attribution model to Google Ads and use it to automatically optimise your advertising campaigns. With complete and correct data, the algorithms will make more accurate decisions and your campaigns will achieve better results without you lifting a finger.
Did you think it’s all we got? The best is yet to come! With WitCloud, you can also generate reports including trends which indicate whether your optimization efforts work well or whether you should do some fixing as soon as possible.
What's more, thanks to the fact that all your data is stored in Google BigQuery, you can use the Machine Learning algorithms to predict future events. You don't need any knowledge about programming or statistics to do it! With WitCloud, you can foresee the future and estimate potential profits and costs with just a few clicks.
If you’d like to learn more about how to analyse WitCloud reports and how they can help you to increase your online shop profits, feel free to contact us. We'll be happy to answer your questions and present the tool to you, so you can see how it works and whether it will fit your business needs.