The dynamics of eCommerce are changing with each passing day. This constant change, combined with the surge in competition, makes the role of analytics more important than ever.
To make your eCommerce brand successful, you need to measure a lot of aspects like marketing, product analytics, and logistics performance. However, transitioning between platforms often becomes a stumbling block for many brands.
And because most brands look at siloed data to make decisions, the insights they get are not often true to their business. A single view of eCommerce data, all under one platform, is what gives you the most accurate insights.
This is where Graas comes in – the solution that stands out with its end-to-end analytics.
Graas simplifies the complex task of understanding and optimizing various aspects of e-commerce with the help of every data point your business needs.
As brands struggle to shift between platforms, Graas ensures they don't miss out on critical insights, providing a comprehensive analytics solution for sustained success.
In this blog, we’ll see how Graas helps you make data-driven decisions to increase the chances of success and profitability of your eCommerce brand.
Get access to end-to-end analytics with Graas
1. Marketing analytics
Marketing analytics is the cornerstone of eCommerce strategy, working out the growth drivers through precision campaigns. Graas' holistic approach to marketing data ensures that you don’t just observe but also strategically enhance your marketing efforts.
Marketing analytics can help you pinpoint channels offering consistent and optimal Return On Investment (ROI). Let’s say you launched diverse campaigns across social media, organic search, and paid channels. Graas meticulously tracks traffic metrics, uncovering insights beyond raw numbers.
It allows you to compare how you’re performing on platforms like Amazon, Lazada, and Shopee. You can also do the same to identify which marketing channel drives more traffic and gives you the highest sales conversion ratio. Then, if you want to go deeper, you can analyze the performance on the campaign level and ad set level. You can even go as granular as identifying which creatives work the best for you.
Graas introduces the vital Return On Ad Spend (ROAS) metric within ad campaigns. This sheds light on ad channels attracting high intent and high conversion traffic, enabling informed budget allocation.
Let’s do a little comparison. Are you a fan of the Google Analytics dashboard? Well, it only highlights social media as a traffic leader. But the Graas analytics goes further. It shows that despite lower traffic, email marketing proves more effective in converting leads to sales.
Graas also helps analyze the ad creatives that help you generate the maximum return. With metrics like click-through rates, ROAS, and impressions you can evaluate the impact of specific creative, layouts, or product placements. These insights help you refine the creative strategies, enhancing brand appeal and boosting conversion rates.
Moreover, Grass’ insights are not limited to touchpoints. High bounce rates and low session durations signify a mismatch between customer expectations and reality. These insights prove critical in optimizing growth cycles, especially during short festive and sales seasons.
2. Inventory analytics
Inventory is an essential part of eCommerce. No inventory, no sale. Having a lot of inventory can lead to products being on shelves for too long. But at the same time, not having enough means you’ll end up disappointing your customers.
Graas gives you insights about your inventory, which helps you keep it well-organized, ensuring your business thrives amid fluctuating demands.
Let’s say your stock level approaches a critical low, risking potential stockouts. Graas will alert you to replenish supplies. This approach is complemented by a detailed analysis estimating the potential revenue loss if timely restocking is neglected.
By providing real-time data and revenue projections, Graas ensures you can make informed decisions to maintain product availability and mitigate financial losses associated with inventory depletion.
Graas' inventory analytics helps you with strategic decision-making, with Graas Predictive AI Engine providing actionable strategies for increased sales, timely delivery confirmation, and efficient stock management.
Optimizing inventory is about maintaining the right balance to meet customer demand while avoiding issues like dead stock, overstocking, or backorders. Graas ensures that your inventory remains agile and responsive, minimizing logistics costs and reducing operational complexities.
Graas' strength also lies in its ability to find profitable product bundling strategies. By identifying which products, when bundled, can increase average order values and appeal to diverse customer segments.
3. Attribution analytics
Analyzing attribution is a critical aspect of eCommerce, helping you decode the roadmap customers take before making a purchase.
What are the different paths customers can take before a purchase? One may journey through Facebook Ads, Abandoned Cart Email, SEO, and Direct; another might land through Google Ad and WhatsApp marketing.
Understanding these customer journeys is crucial as, depending on the product category, customers typically engage in multiple touchpoints over 3 to 30 days before deciding to purchase.
Graas facilitates this understanding by using various attribution models tailored to your specific use case. With the help of attribution models, Graas enables businesses to find out the impact of each marketing channel on the final sale.
For example, it helps answer critical questions like how much of the budget to allocate to Google versus Facebook, whether SEO efforts yield positive results, or if email marketing or Facebook is more effective for retargeting.
With the help of Graas, you can gain clarity on the percentage of conversions influenced by social media posts and identify the most effective channel for nudging customers toward a purchase decision.
4. Bonus: get insights and recommendations
Graas helps your brand go beyond conventional data visualization to provide actionable insights and strategic recommendations that push your brand forward.
Helps you identify opportunities
Imagine a top-selling SKU is nearing depletion. Graas not only identifies this potential stock out but offers a clear recommendation – stock up now to capitalize on the product's popularity. This insight aligns your actions with market demands, ensuring you stay ahead.
Additionally, when Graas detects a channel performance drop, it flags the issue and provides insights. For example, it might reveal that specific SKUs within the underperforming channel are either out of stock or not resonating with a particular audience, guiding your marketing strategies or inventory adjustments.
Helps you predict threats
Graas takes predictive analytics to the next level by anticipating potential threats. It warns of top-selling SKUs at risk of going out of stock, enabling proactive stock management to prevent disruptions. If unexpected channel performance drops occur, Graas alerts you and offers insights into the root cause.
Gives you recommendations
A standout feature of Graas is its ability to provide clear and strategic recommendations based on data analysis. For example, it may suggest creating product combos based on customer purchase patterns to boost Average Order Value (AOV) and Return On Ad Spend (ROAS).
When it comes to channel performance drops, Graas gives you recommendations to improve targeting, adjust marketing spends, or refine creatives. It transforms your raw data into actionable strategies.
Best practices to make the most out of Graas
You can unlock the full potential of the Graas by understanding and implementing strategic approaches that align with the eCommerce dynamics:
1. Understand the eCommerce equation
The eCommerce equation, a concise three-variable formula, acts as a compass for revenue generation in the e-commerce industry.
Expressed as “eCommerce Revenue = Traffic × Conversion Rate × Average Order Value,” it provides a simplified framework for businesses to optimize variables strategically.
For example, with 10,000 monthly visitors, a 3% conversion rate, and a $50 average order value, the monthly eCommerce revenue would be $15,000. However, the equation's versatility allows customization based on individual brand goals and needs.
Graas uses this formula to offer a holistic view, enabling businesses to fine-tune each variable for optimized growth and profitability.
2. Evaluate across different parameters
To maximize the Graas potential, evaluate your performance across key parameters. Scrutinize Revenue, Traffic, Conversion Rates, and Average Order Value (AOV).
Graas ensures a comprehensive view, allowing businesses to gauge performance comprehensively. This step is crucial in understanding the overall health of your e-commerce business and identifying areas that need improvement or optimization.
Let’s say one of your products has a high conversion rate, but not many people discover it. Graas will suggest you run discovery campaigns for that product to sell that product to its true potential.
3. Classify by the level of impact
With Graas, you can classify metrics based on their impact. Categorize elements by their significance to prioritize efforts effectively. Whether it's optimizing marketing spend or enhancing conversion rates, Graas' classification ensures that you focus on areas with the most substantial impact on your e-commerce success.
If you notice that both your average order value and conversion rate are low, Graas can help you determine which of these two you should fix first. Ideally, it would suggest ways to improve your conversion rate first to build a customer base and then implement ways to increase the AOV.
4. Filter based on top-impacted metrics
Efficiently navigate through vast datasets by filtering based on top-impacted metrics. Graas streamlines the process, allowing businesses to identify key performance indicators quickly. Whether it's optimizing inventory levels or refining marketing strategies, Graas' user-friendly interface ensures that businesses can swiftly pinpoint and address critical metrics for sustainable growth.
5. Derive actionable from data
Move beyond benchmarking by leveraging the opportunities, threats, and recommendations generated by Graas.
As we mentioned earlier, Graas doesn’t stop at alerting you about an issue. It gives you the root cause for it, which helps you take the right actions to ensure that it’s fixed and never happens again.
Whether it's adjusting marketing strategies, replenishing inventory, or fine-tuning your product offerings, Grass platform makes data actionable for you.
Ready to rule the eCommerce space with Graas?
If you want to stay ahead of your competitors, relying on intuition or the so-called “gut” feeling is not the right approach. You need to make decisions backed by data. And that’s where Graas comes in.
Graas allows you to measure all the efforts — from marketing to inventory — you’re putting in to make your eCommerce brand successful. The best part is that it is real-time, so you can easily make the much-needed quick decisions.
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