Understanding Ecommerce Monetization and Customer Journey Analysis

Okay, so that's engagement. Then there's a section for monetization. I mean, if your website's informational, if your website's lead gen or enrollment, you might not have monetization, but for an ecommerce website, there would be reports around monetization.

All right, so this is the monetization one, an overview of the monetization. It shows the total revenue, 319,000 purchase revenue, and total ad revenue. If they were generating money through referral links or something, then it would be ad revenue, as some websites do.

Total purchases, first-time purchases, 1.5, right? So it gives you that distinction. Average purchase revenue per active user. We get 4,094 cents on average from your visitors to your website.

And then it shows you how many of each of these items were purchased by item list name, by item name. So many different distinctions on this ecommerce store. The promotional items that were viewed, right? So you get a sense of, are your promotions working? Are people at least checking it out? So forth.

And for each of these, you can gain further insight just by clicking on the link to the more details chart. And there you have, you know, how many times it was reviewed, how many times it was added to the chart, how much was purchased. So you can actually see what a sales funnel is, right? What's the first thing people need to do? They need to view the item.

And then if they liked it, they could add it to their cart, right? So out of the 104,000, you know, so, you know, well, that's not my point, but so you can see, you know, how many items were viewed, how many times added to the cart, and how many times it was purchased, right? And then the total revenue that was generated from that, right? So you're able to get this way. Items viewed, the number of items that the customer viewed, and the number of items added to a shopping cart. I was just a little bit confused because it seems like they're adding more items to the shopping cart than viewing, maybe, because they might be adding, you know, quantities of some of these items.

I'm not sure about that. And a number of units for a single item that was purchased, right? So it's giving you a breakdown of the ecommerce purchases along those lines. Purchase journey.

Okay. We looked, we discussed explorations briefly when we're discussing audiences. And one of the explorations that you can do is create a sales funnel, right? We're not going to get into the details of that in this course, but you can track different, you know, page views, events.

It's set up the same way you set up any parameter. You, it's, you know, it's, you know, it says, okay, for the first step, what page is that that needs to be viewed? So it's a session start. It might be the homepage.

It might be the landing page. And then they go and view the product. And then they add the product to the cart.

Then they begin the checkout, and then they make a purchase. And you can see 100% of the traffic started, right? 38,000,156,000 people started that. That's 100%.

38,000 of the people who started a session left before viewing a product. So the abandonment rate is 69.3%, almost 70%. Now, out of the people who clicked on a product page, and just for context, you know, so if I start here, right, then I'm saying, hey, I like this.

And I eventually look at a product page. Now I'm here, on the product page. And then I might add to the cart or not, right? So that's what is being tracked.

So, and then once I add it to the cart, of course, I begin the checkout, which includes providing my information, and it might be several steps to it. You can track each step, or you can consolidate as you begin checkout. And you might first be providing my financial information or billing information, and then my shipping information.

And eventually I click purchase, right? So this shows me the abandonment rate. So 69% of the people who came to that website left before going on a product page. And the one, so that means that 17,000 people did make it to the product page, and 11,000 of them left.

So 64% of them left. So that means that you're down now to 6.1,000. And at that 45%, after checking out, after they added it to their cart, all right, so that's the number of people who added it to their cart. So, you know, so that's the, you know, the gap between people who were on the product page and added it to the cart.

Now that means that 6.1,000 people have it in their cart and 3.3,000 of those people began to check it out, right? So almost half the people who had it in their cart never did anything more. So that becomes a non-empty cart. And that's a mark, you can remarket to, right? And then finally, out of the 1.7,000 that made it through, they purchased it, right? And that's what you're left with, which is half of the people who made it to begin the cart actually made the purchase, right? So it's a 50% abandonment rate.

So you want to look at this abandonment rate, minimize it, right? We're at 69%. What can we do to get that abandonment rate lower? Well, maybe we can provide additional information or make the initial page more compelling and get people to click through. Like, what are we not saying? What are we not providing on our, you know, on our homepage, you know, to get people to click through or on our overall product page, you know, maybe, you know, so you look at the various ways that you can tweak that to raise that, you know, to lower that number and, you know, increase the amount of people making it to the next step of the process.

So here we go, coming to the homepage or, you know, landing page, clicking on the product, adding the product to the cart, and beginning the checkout. And then half of the people who began to check out actually said, Hey, I'm not going to do it. I'm leaving.

Now, why is that happening? Maybe they don't have their credit card with them. And for the energy client I have, when you enroll with an energy plan, one of the things you have to do is when you say, Okay, look at the different plans. Okay.

I want 10 cents per kilowatt for my electricity for a three-month plan. Right. But then you have to sign up.

One of the things you need, you know, mostly your name, your address, that, you know, but your utility bill number, your utility number, account number, you need that. So how many people know that, you know, they might not be home when they get it? We see an abandonment rate there.

So what can we do to try to close that rate? One of the things we did was, you know, allow people to save that and come back to it. So they don't have to start all over again and just get the number. We also had a little pop-up, which you can hover your mouse over, and it showed you where the account number is found on your bill, just to make sure that when people do get their bill, there's no confusion about what they should be looking for, and how many numbers.

So you come up with ideas to try to, you know, minimize the abandonment. And similarly, you can do all right, so I think it's just like another funnel that they have, begin checkout, add shipping. Remember, I said it could be multiple steps to the actual checkout.

On the previous purchase journey, we were just looking at beginning checkout, but now they're looking at each individual step, beginning checkout, adding shipping, adding payment, and purchasing, and it shows you the abandonment rate. So once you begin checkout, it's a less than 1% abandonment rate. So people are serious at that point.

When they add to shipping, you saw a little bit of abandonment, not crazy, but you're not just adding the shipping and moving on, adding payment. So you saw a little higher, and then the actual purchase. So you would track that over time, see if it's going up, going down.

And then there's also the promotions. I guess there'll be a listing of the promotions that they might be running and the results of that. That gives you some insight.

The Lounge in Lavender item of June in promotion dropped to 13, a sharp decrease from the expected around 3.4,000. That's a huge decrease, right? And went from 4,000 to seven items. I have no idea why that is the case, but it shows you items viewed in promotion, clicked in promotion, and the click-through rate for your promotions, which is huge. So these are talking about promotions they're running on their website.

They want to get people to click through to the product page and see how many of these are being added to the cart. And then finally, transactions. So it gives by transaction ID, and it shows you, this is going to be a very lengthy list of all their transaction IDs.

Actually, no. Well, yeah, it's not 1,919. And how much for each of those?

So those are all the monetization ones. As I mentioned, that's going to be most relevant to ecommerce websites. So some of that might not be relevant if you're trying to collect leads or just provide information, set up appointments, that type of thing.

You're not tracking revenue.