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As an eCommerce business owner, examining the performance of the products you advertise is one of the most essential details to boost your sales. At this point, starting an analysis method by separating the products that you are efficient and the products that you are not efficient can be given as an example of product performance tracking. While a product is added to the cart by many users and then the purchase process is completed, why does a product with the same potential not perform the same? The answer to these questions lies in tracking product performance.
What we call eCommerce is more than just selling online. Which of your products get the most interaction, which ones are more engaged with the customers, and which can meet the needs of the users? It is necessary to understand them and move forward in this context.
So, it is never enough to say that I uploaded the product to my website, advertised this product and also did SEO. The real challenge starts after that.
Marketing analysis and product performance tracking in the context of this article are actually very high in importance in terms of guiding our future ecommerce marketing strategies and making sense of the work we are currently doing.
You can see it as a milestone to reach the growth goal of your eCommerce business. With the correct analysis, you can save time and energy, improve your brand awareness, gain loyal customers, and increase revenue, which is the most basic goal. When you have a deep sea of data in front of you, it would not be possible to ignore it.
What Happens If You Don't Track Product Performance?
Well, let's just ignore it, what could happen in this case?
1) You can't see why some of your products consistently get a lot of interaction and why some of your products have low add-to-cart and purchase values. Since you cannot observe, you cannot understand whether your marketing efforts are correct.
2) You may never learn why your products that fail to show their potential fall behind. At the same time, you will not have data to compare what you need to do to increase interaction and purchase. This means that you will lose time and make marketing experiments that will not bring you to the goal you want.
3) You cannot make your stock arrangement in the most optimal way. By not following your top-selling products on a weekly and monthly basis, you may not know how much stock you should keep for which product, and thus you may have opened more or less stock than necessary.
4) You do not know where to invest your advertising budget and you cannot understand where you need to make your future digital marketing moves. Again, you have to sacrifice time and money.
5) You may not notice the product detail page and product image optimizations that provide the most benefit to your potential customers and attract their attention. Also you may miss the improvement opportunities you can make on your site.
By missing out on the data we provide here and many more, you will delay the products you sell from reaching their potential. Not to mention that you make it difficult to achieve your growth target with wrong planning.
For these reasons, instead of dipping your finger into the data pool, you can create meaningful eCommerce marketing reports for your business by diving into it. By saving your time and money, you can achieve efficient results, improve your eCommerce business and approach your growth target.
How to Track Product Performance
In fact, all you need to do this tracking is to regularly reach your eCommerce marketing reports. Although there are many different paid and free tools to achieve this, the most important point is that the tool you use can provide you with exactly accurate information quickly and easily.
The reason why we emphasize that the important point is to reach the right information quickly and easily is that many tools do not have simple enough interfaces and you must spend a long time gathering the necessary data. Therefore, such difficulties will not be good for you in the eCommerce world, where you need to pay attention to every detail and create different strategies by combining the data.
But don't worry, heybooster is here for you!
Being aware of all these difficulties, we have made the right analysis of all of them and are prepared to collect the data you can reach as quickly as possible. Among all these complex tools, we have prepared not only the most prominent metrics but also different insights that are overlooked but of great importance. Because it may not be enough to get an overview of the problems and try to identify the problems using only the KPIs that everyone uses. That's why we've created different insights that go into much more detail and allow you to create your best Commerce marketing strategies.
Now, it's time to see what are the problems that may affect your marketing strategy and how we have produced solutions to them!
Identify the Products with High Sales Potential
Many eCommerce marketplace teams focus on low-performing products as a priority, downplaying products they think are already performing well. This leads to the fact that products that can be made to perform much better are not highlighted enough. However, this means that you ignore the potential of products that can have much greater returns for you in the long run.
Of course, it is important to create strategies for underperforming products and make the necessary improvements. But by focusing on high-performance products and improving already good performance, you can create more budget for yourself and take steps to improve your overall marketing performance.
heybooster provides you with insights into products with high sales potential to help you at this point. With this insight, a score is created according to the rate of your products being viewed and added to the cart. Then, according to this scoring system, products that perform above the average are considered as products with high sales potential. Thus, if these products are more visible to users, you can predict that the performance of the product will increase in direct proportion. Because the products have both high viewing rates and users interact with these products, you can also understand that these products match the users' search intents.
There is no channel filtering in this insight. In other words, instead of analyzing the traffic coming from only certain channels, the data from all channels are combined and the most prominent products are ordered.
That's why with heybooster, you can easily see products that will perform best for you by showing their true potential!
The Products Have High View Rates but No Ads
Although your products are being viewed from many different channels, you should still not ignore Google Ads. Because why not hit two targets with one arrow😊When used correctly, Google Ads have a huge impact on both your visibility and overall business marketing performance. That's why you need to make sure that products that already receive traffic in different ways also perform well in Google Ads.
Here you can do this control with heybooster! Although the overall performance is high, heybooster analyzes and ranks the products that need to be promoted by Google Ads for you. Thus, you put already high-performing products into a structure that can lead to more conversions.
Detect Landing Pages with No Conversion
Although eCommerce is an area that requires you to be patient and not expect miracles, you need to make quick decisions at the right time. If you are working on products that do not have a positive return for you for a certain period of time, this may not be the right choice. Because it will be disappointing for you to see that the time and energy you spend during this period is almost never in return.
In order to avoid this disappointment, it would be wise to anticipate problems and change applied strategies. That's where heybooster lists products and pages that haven't had any conversions in the last 7 days, and lets you see any issues. Thus, you can see in order what your efforts are not performing as desired. In other words, whether you are trying to highlight these pages and products with SEO or Google Ads, you will prevent the time and energy you spend on them from wasting.
Doing this tracking will prompt you to create a strategy for resolving the issues that caused this situation. For example, you can technically optimize a page with a very high bounce rate, or check whether it fits users' search intents. Thus, you can make new moves that will increase your business marketing performance step by step.
Not being able to instantly and regularly monitor how your products are performing in advertisements and on the site sometimes causes you to invest in the wrong products and have budget problems.
Wrong strategies keep you from seeing products that can create different opportunities causing you to miss the potential of your products.
In order to increase and stabilize your overall business marketing performance, you should regularly make the necessary optimizations and create different strategies. For this reason, regularly monitoring how each product performs will put you one step ahead of your competitors.
At this point, choosing heybooster as your travel companion in your growth journey will be the right decision. heybooster is ready to serve you with different insights and fast data analysis.
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