The famous management consultant, Peter Drucker once said, "You can't manage, what you can't measure."
Well said.
How can you spend time (and money) on marketing efforts without measuring how effective they are in driving revenue?
We do it all the time. I started my shopify store and never measured ANYTHING. I was too busy, it wasn't a priority... I had loads of excuses. But guess what? As you scale and grow your ecommerce business, you can't get away with this!
Why? The bets get bigger. Running a $100 ad campaign easily can become a $1000 ad campaign. Working with an influencer on a free product trade, could become a $3000 integrated marketing campaign.
You need to measure your efforts in order to see what's working, and to be able to reinvest in what matters most to your business.
On this week's episode, I delve into the sometimes-boring, but incredibly valuable world of eCommerce analytics. Whether you're a beginner at this, or a pro, you'll get something out of this episode!
Have a listen to episode 16 from season 2 of Brave and Boss: The Podcast on iTunes or Soundcloud.
And, don't forget to subscribe-rate-review. It's super easy and helps me to reach MORE creative entrepreneurs just like you.
KEY INSIGHTS FROM THE EPISODE:
- Analytics are key to understanding in order to scale an ecommerce business profitably
- There are tools to help you at any stage of your ecommerce analytics journey - beginner, intermediate or advanced
- Start small by measuring projects, or campaigns with an influencer to build your analytics confidence
- Figure out what matters MOST to your business model, and measure over time to track success!
- Schedule time in to review your analytics daily, weekly and monthly
RESOURCES MENTIONED:
- Advanced ecommerce analytics app - Glew
- Intermediate ecommerce analytics app - Compass.co
- Basic - Google Analytics
- How to use Shopify Analytics (Podcast)
- Key Performance Indictors for eCommerce (Shopify Blog)
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