Managing an online business project, you will need to check its rates of productivity from time to time. You can try a set of instruments offered by Google Analytics 4 (formerly Universal Analytics). You won’t go far without it if you want your website to be noticed by the online audience. Google Product Analytics has become one of the essential elements of e-commerce. If you need help with it, the specialists from Data Crafts are ready to deliver top-notch web analytics services.
Once you download a Google Analytics Product List Performance report generated by GA4, you get information about sales volume, conversion rate, and average order value. This knowledge can help you understand customer behavior more in-depth to then revamp your online business accordingly.
Understanding Product Performance in Google Analytics
The product-related metrics are important for online businesses to make sure they are meeting the market demand. They can make the necessary adjustments to the marketing business strategy if needed.
Google Analytics product performance explained
Free analytical data informs you about the website’s traffic. It also helps you measure the effectiveness of your marketing campaigns. To make a clear analysis, you should use the detailed view to determine your business’s necessary metrics.
For example, you can focus on the number of customers who purchase after checking the product details. You can also consider customer feedback to indicate the quality of the potential conversion. Returns and refunds matter a lot. For instance, monitoring returned items is extremely important for learning customer behavior. Every time you receive a refund, you should find out the reason.
What is a Google Analytics product performance report?
It is a type of report available in Google Analytics that provides data on the performance of products on an e-commerce website. This report allows you to see which products are selling the most, how much revenue they are generating, and other metrics related to their performance, such as the number of views, clicks, and add-to-carts.
The Google Analytics Product Performance Report provides insights into customer behavior, such as what products are popular, what products are often purchased together, and how effective your product promotions are. You can use this information to optimize your product offerings, identify areas of improvement, and make data-driven decisions about your e-commerce strategy.
As an online retailer, you are supposed to know which categories fit your customers’ needs most. Using the report mentioned above, you can put items together in the most logical way. This way, you can analyze the market position of particular products in general. You can also find out how some of them perform compared to others.
The Google Analytics product performance report gives you insights into product placement. How to position your stock items? How to maximize search results? And how to increase offerings visibility? Here are some more actions to take:
- Boost conversion rates by finding the optimal number of search results per page;
- Prepare cross-selling and up-selling offerings based on what’s already in customers’ shopping carts;
- Determine which recommended items encourage the most engagement rate
These actions result in smarter expenditures on marketing operations. You will know exactly which products are in the most demand on your website. And you will also discover up-selling and cross-selling offerings that lead to higher sales.
What Google Analytics Product List Performance Report Shows
A logical grouping in Google Analytics can be formed by using various dimensions, which is called a product list. There are three primary methods of grouping product lists. Let’s take a closer look at them:
- Categories. This method allows you to compare products based on visual and functional characteristics. For example, you can check how headphones and smartphone cases are located on your website. Logically, they are supposed to be in different categories. This is probably the most intuitive way of grouping items;
- Search requests. This way comes up with specific results, which are organized into one list. For instance, all items that appear in searches for “laptop backpack” belong to one dynamic list. Please mind that the search results will be changing quite often;
- Related products. This method allows to group of all products that appear under the “users who bought this product also liked…” section. This list has a dynamic nature. The recommendations will change within a certain time
The product performance analysis reminds a data-driven chart. It serves to explore product performance from short- and long-term perspectives. The report contains the number and percentage of clicks, views, and other features for each list on your website.
In Google Analytics, you can find e-commerce reports in the Conversions section. Different types of reports review your market efficiency in different ways.
Standard
The standard report setup reveals the e-commerce basics. These include the number of transactions, the conversion rate, and the amount of revenue. In terms of productivity, it shows what items are stocked, how many of them are purchased within a certain time, and what kind of profit they bring. You check how reasonable the value of each particular item on your website is. It won’t hurt to take a look at sales and transaction data.
Enhanced
The enhanced report setup expends the standard-report data. It has additional information about financial operations, profits, and stock volumes. It also contains the details like refunds and cart/buy-to-detail rates.
More specifically, the enhanced report shows how well your business approach works through the prism of customer behavior. Are your sales up or down? How many refunds are there on your website? And this is where you should consider the shopping trends (the number of clicks and sessions), the checkout process (the checkout activity), and the sales data (the profit from each sale).
Standard or enhanced?
When exploring a product list performance in Google Analytics, you might wonder which type of report to use. The decision shouldn’t take much of your time. You just need to consider the setup of your GA4 account, the complexity of your e-commerce business, and other tools you use to get to know your website better.
You shouldn’t ignore the fact that the setup for standard and enhanced reports is entirely different. To get access to the performance report, you should enable an enhanced session in GA4. Thus, you will get a more detailed view of your business productivity by checking customer behaviors (purchases, time spent on the website.
How to Use Product Analytics Metrics
Before getting down to a thorough product analysis, make sure to take the following steps:
- Set up e-commerce tracking. You can activate a tracking service in your account settings. And don’t forget to add the special tracking code to your website. This way, you will be able to keep track of transactions, profits, and other metrics;
- Read through the report. You can check this document from your account in GA4. The system allows you to make a download if needed;
- Explore data. The report shows data for each item stocked, sold, and refund on your website. You can also see other product analytics metrics, such as average costs, conversion rates, and unique sales;
- Split your data into segments. To get deeper into your product performance, you should split your data regarding a particular category, traffic source, or device type. For example, you can check the most popular items among customers. Or you can find the items that are sold via mobile devices;
- Set up custom reports. This type of report contains even more aspects of product performance. For instance, you can get a report containing each item’s revenue within certain timeframes. You can also get valuable information about the conversion rate of items sold through different sources
By the way, you can use the BigQuery export for a deeper level of analysis. This cloud data warehouse enables super-fast queries of massive datasets without any delays. Thus, you can export sessions and transfer data from a Google Analytics 360 account to BigQuery. With the use of a SQL-like syntax, you can query all of your analytics data.
Google Analytics in the Hands of Data Crafts
To see your e-commerce business succeed, you should master GA4 along with the related reports. Grouping items based on search results or recommendations will make your work smooth and transparent. You can analyze how items on the list match their categories. Are any changes required? What can be done to improve the situation?
At Data Crafts, we can help you reorganize commercial items to simplify your work and enhance your sales. You can request a 30-minute consultation with our experts in GA4, which won’t affect your wallet at all. So don’t miss a chance to boost marketing activities along with potential sales. With professional help, the result will be easy to see and feel!