Since I am using Shopify to run an online store, you can get a lot of information once you log into their analytics section. While these built-in analytics are full of useful information, they have one serious drawback, namely, you cannot monitor the changes in your store’s KPIs. This is where a Shopify store tracker comes in handy, a tool that keeps you up-to-date on your Shopify store’s progress.
Basically, a Shopify Store Tracker is an app that provides information about different stores that are available on the Shopify platform.
A Shopify store tracker is a tool which you can use in order to set up a set of metrics that you want to be tracked and for which you want to receive notifications about changes to your Shopify store. It operates as a second level of monitoring on top of Shopify’s built-in statistical tools.
One advantage of a store tracker is that it puts the data to use. It is a lot easier than having to go to your Shopify admin and look at various reports that are not tailored according to what you consider important KPIs. Alerts are also often provided to the targets and when the metrics reach a specific level, most trackers allow you to set them as well.
Why Do You Need a Store Tracker
There are a few reasons why a store tracker is a must-have tool for any Shopify merchant:There are a few reasons why a store tracker is a must-have tool for any Shopify merchant:
- It helps to quickly identify trends and issues facing any business.
A store tracker provides you with a birds eye view of your key metrics making it easy for you to notice something like an instance where the revenues have been reducing on a weekly basis. You’ll also be notified when there are any drops that may be because of some technical issue on the store.
- This is where one has to keep an eye on the ball, to stay focused on doing what is important.
Shopify is characterized by an overwhelming amount of data that may make people loose orientation at times to. A tracker helps to avoid getting lost in those dozens or hundreds of KPIs you know exist but you don’t have time to review all of them regularly and track the key success and growth factors of your business.
- Track Progress Over Time
Proactively managing performance indicators, such as sales targets, conversion rate, and average order value is also advisable. A store tracker also means you are able to look back and analyse your figures each time and check how far you have gone.
- Identify Opportunities for Improvement
Are you getting more visitors to your site, but the number of customers actually buying your product is decreasing? Are customers browsing and leaving products in a cart while not opting for the final check out? It is possible to see that such identification shows the ways for its improvement, allowing to notice adverse trends.
Shopify Store KPI: the List of Metrics That are Significant for Your Online Store
Every business is different, yet there are general ecommerce store KPIs, which might be applicable to a particular business. Some essential KPIs to track include:Some essential KPIs to track include:
– Sales and orders
– Average order value
– Traffic and impressions
– Bounce rate
– Conversion rate
– Some of the most popular and popular performing products
– Inventory levels
– Margin per product
– Customer lifetime value
– Customer acquisition cost
Also ensure that you record ANY other statistic that is related to your marketing provided you need it to assess the marketing campaigns you are running such as coupon code usage or revenue from email subscribers.
Selecting the most appropriate Shopify Store Tracker
By using the right store tracker, it will be possible to setup dashboards, receive notifications, as well as analyze the Shopify data. However, such a decision brings about the question of what to look for when selecting the tracker?
– Can be easily integrated with Shopify – no programming or copy/paste operations needed
– When it comes to monitoring KPIs, users get fully tailored board with elements that let track unique KPIs.
– It can capture the current values and the values at past time intervals.
– It also provides the fundamental of establishing goal and having the capacity to track it.
– For more important monitoring when values are above or below certain levels, alerts and notifications are issued.
– simple and easy to navigate frontend
– Good customer support
– Affordable rates that are suitable for small business operations
Top Shopify Store Trackers
Some popular store trackers used by Shopify entrepreneurs include:Some popular store trackers used by Shopify entrepreneurs include:
– Shopify Stats (Free) & other tools
– https://www.dropship.io/
– ShopifyTracker. com
– ShopMetrics
– Refersion
– InsightDash
The right tracker will let you push through the noise and hone in on the right things that will guide the future of your Shopify store. Be very selective on which of the features would be suitable for one depending on the need available.
This way, the key performance indicators will be monitored and tracked round-the-clock, providing you with an improved understanding of the most significant determinants of your performance. This will help you to take the right decisions regarding cost containment, increasing productivity and revenue growth.
