Google Analytics Conversion Funnel: Track abandon Checkout in Shopify

We all love to measure our win, but for that, you need to make your mind work to plan something rather than just doing it in the same-old-way, then it would surely twice the quality of result you were expecting at the first place.

As a child, you all must have played a group/team game where you or the other player had to strategize a game plan to achieve victory against the opponent.

Similarly, it becomes essential for every online business to set up a conversion funnel or steps by which your leads must go through in order to be a valuable customer — funnel named as —  “Goal Funnels” of Google Analytics.

If you are a Shopify user then an app named mCheckout whose core functionality is to allow your foreign customers to checkout in their desired/local currency. But also correspondingly it also allows you as a store owner to track the abandon checkout with the help of Google Analytics Conversion funnel.

We all want our visitors of the online site to convert into a long-term customer. The best way of doing this is by making note of the entire conversion/sales process from lead generation ads to post sales follow up.

And you can do that ‘note-making’ in Google Analytics through Goal Funnels and also track your abandon checkout with mCheckout.

 

Why caring for Cart and Checkout Abandonment is necessary?

Cart Abandonment nowadays is a slow poison for all the e-commerce stores out there. If you’re a running a store and ignoring your daily cart abandonment then you may have to face a hard time in near future.

I have already mentioned the statistics of cart abandonment in the previous articles that more than 70% of your customer abandon the cart without actually making a purchase.

Though, instead of wondering what would be the key reason(s) for Cart Abandonment, let’s determine the issue with Google Analytics.

Setting up Goal/Funnel in Google Analytics

For setting up the funnel you need to know what your customers or to be customers are doing after visiting your online website. To understand that we’ll setup a cart funnel in Google Analytics as our path to conversion.

Before setting up the funnel you need to complete the process of setting up the goal:

  • Log into Google Analytics, scroll down into your online store’s profile, and click “Admin” in the top navigation.
  • Then click the Goals
  • Enter a Goal Name, anything you like such as “checkout_status”.
  • Enter a Goal URL, such as “/thankyou”.
  • Leave the Match Type as “Exact Match”, unless you need to account for multiple variations of your goal or funnel URLs. You’ll see other options such as Regular Expression and Begin-with.

However, for mCheckout you can use ‘exact match’ or ‘regular expression’ because the URL changes depending on which page your customer navigates to.

  • It is often useful to enter a Goal Value even for an unmonitored lead generation since it allows Google Analytics to calculate metrics such as Page value and Goal value per visit.

 

Setting up Goal and Funnel specifically in mCheckout

One of the most beneficial reasons for tracking a goal funnel using Google Analytics is its ability to rapidly identify the pages where your to-be buyers abandon the checkout i.e. exit page .

 

Step: 1   Goal Setup

You can select any option whichever is suitable as per your requirement. In this, we are choosing the custom.

 

 

Step: 2   Goal Description

You can write a name of the goal as per your preference. Select the type as destination in the goal description for mCheckout.

 

 

Step: 3  Goal Details

In the destination select the option of regular expression, and set the URL of mCheckout as “/checkout/order_status” which is the final thank-you page after the completion of order in mCheckout.

In value option you can set the minimum amount which you consider for your revenue or the lowest product value from your whole store.

In order to setup the funnel please enable the funnel option. Funnels will help you to track the behaviour of the customers on each step of checkout.

 

Step: 4  Funnel Option

After enabling the funnel option you’ll need to setup the funnels for different steps.

  • In first step you can set the funnel for the customer info page. In order to create this funnel set the name as per your preference and in field of screen/page set the URL as “/checkout/customer_information” for mCheckout.

If you want this step of customer information as the mandatory step (visitors must view that page) then enable the required button. Don’t enable required button if the customers are directly landing on shipping/payment page.

  • In the second step, you can set the funnel for the shipping information which can be created by setting the URL as “/checkout/shipping_method”.
  • In the third step, you can set the funnel for payment information which will be created by setting the URL as “/checkout/payment_method”.
  • In the final funnel, will be the order confirmation funnel (thank you page) which will determine the completion of your goal and can be set using the URL as /checkout/order_status.

 

NOTE: It is not required to set all the funnels as mentioned above, you can set it as per your requirements and needs.

Once you set up this funnel it will take maximum of 24hrs to get activated. In order to see the results go to Conversions à Goals à Funnel Visualization.

 

Results for Funnel Visualization Reports

1)Select the goal which you named for mcheckout from the Goal option select box.

 

2)To see your funnel visualization, go to
Conversion –> Funnel Visualization

Now let’s analyze the above funnel visualization report.

  • The URL’s on the left side of the funnel indicates from where your users/customers navigated to checkout While on the right shows the URL’s from where they left the page.

  • As you can see in the above figure that 14 customers went to the first page of mCheckout that is customer_information and filled their information. And 3 of them left the page from customer_information and didn’t proceed to shipping_information 

  • Then rest of 11 users went further for filling up the details for shipping, among which 2 of them left the page and did not go further for the payment_method page.
  • Between the funnel of payment_method and thank_you page 5 of them left the page. Thus only 4 customers/users navigated till thank_you page.

  • All the remaining customers who came till thank_you page completed the checkout process using the mCheckout.

So, from the above analyzation, we can say that the users who navigated till the thank_you page successfully completed the checkout process. Thus you as a store-owner don’t need to focus on this particular area.

The high amount of drop off simply is happening between the payment_method and thank_you page (almost 40%). That is why you have to figure out why they are leaving that page and not moving ahead for the checkout.

The Closing

Thank you for spending your precious time reading this article. I hope can now yourself set the goal funnels through mCheckout app and identify where are you losing your potential buyers before they make payment for your Shopify’s website.

 

How is Artificial Intelligence Transforming the Retail ‎Industry

From “Okay Google” to “Hey Siri” to “Hey Cortana” —every single thing on this planet is changing its way of doing work with more optimized and effective way.

However, nothing can beat the power of offering personalized consumer experience to drive sales and their long-term retention.

Because of the digitization Artificial Intelligence (AI) is becoming now already the backbone of this digital world. With the help of artificial intelligence consumers, expectations form the retailer of all sizes has eventually increased.

According to Plunkett Research  in 2017, ‘Retail’ which is one of the largest industries in the world was estimated to have sales of $5.73 trillion in the US.

If you’re someone who is into retail industry or have interest regarding the same then you must be aware of the fact that due to increased growth in technology, doing business nowadays has become much more challenging than ever.

  • 94% of the retail executives are likely to invest in AI if they’re familiar with it

Thus it is has become obligatory for retailers to make use of AI in their business to stay ahead of the competition and their customer needs.

Now let’s see how exactly AI is transforming the retail industry.

 

Improvement in Inventory management

Many new features are being innovated in the field of AI with each day passing, which is now used to meet the demands and the requirement of the consumers.

 

Paper with words inventory management and charts.

Thousands and Hundreds of man-hours are being saved in each sector as AI is giving insight on how the industry can benefit by eliminating the cumbersome process of checking inventory manually.

AI is basically changing the way people buy or sell the product out of the inventory management. Data mining has now made it possible for the retailers to mine the data in more speedier and efficient way, which indirectly helps them to manage their products accordingly.

 

Personalized consumer experience

A personalized consumer experience has helped tons of brand stay to ahead of the competition. Here are some stats where AI is making its personalized presence. As per the data of worldretailcongress:

  • 48% of the online shoppers believe the importance of providing on-demand personalized advertisings.
  • While 45% of them want the same option in the online store.

 

Let’s see two areas where AI is helping retailers with personalized experience

  • Chatbots have evolved over the years and it is found that it has served both buyers and sellers efficiently by keeping them engaged 24-hours with customer service and personalized

 

  • Machine Learning is helping companies by providing their customer with more personalized product by suggesting them the relevant product or exciting offer through pattern recognition or shopping habit of customers.

 

Wrapping it up

Global AI market is expected to reach an astounding value of $35,870 billion USD by 2025. A retailer cannot ignore that huge number as it itself articulates a serious business consideration for the retail sector.

AI is helping to transform the way businesses are reaching shoppers by integrating advanced digital technologies.

If used in an organized and appropriate manner Artificial Intelligence can be a fruitful and powerful tool for any retail business.

 

Magento or Shopify: Picking up the Best

You may have read or probably heard from many about the importance of good schooling. Because a school is the base tool which helps prepare us for life.

In the same manner, if you choose the right platform for running your own e-commerce business in the first place, then it would not only get you more sales but also ease your life.

In the few articles back I had discussed on the Shopify vs WooCommerce, in this post we’ll talk over the essential difference between Magento and Shopify and which ones would be the best suitable for your e-commerce business.

However, it is safe to say that the design aspects, the capacity of these platforms and their strengths simply go beyond the graphs.

All I wish from you is to not judge any of the platforms till you’ve read the very last word of this short post.

 

Popularity

Shopify claims that it has over 600,000 companies using their platform whereas Magento claims of having 260,000 companies.

As Magento is open-source it is more popular among the users who are willing to make frequent customizations on their websites. Because of its nature of open-source many theme developers offers a large pool of themes and templates to give your online store a look and feel which suit your products and taste.

While Shopify, on the other hand, has an impressive range of themes and comes with more than 54 different store template. And all these themes have their own unique variations, which means technically you’re getting more than 100 separate design. All the Shopify themes (even the free one) are being developed by their professional theme developer or web-designer.

When it comes to privacy and security Magento and all other open-source players loses the game as Shopify provides level 1 PCI DSS compliant which makes it more relevant option for anyone in this digital era.

Ratings:     Shopify- 4/5                            Magento-3/5

Ease of use

If you’re a person who is technically sound and has great knowledge in coding then Magento would the platform may suit your need as it is open source. Magento is self-hosted which means you have the full control over your store for the design and customization.

Though this may be a time-consuming task as you have to develop every single thing from scratch to make the online store as per your requirement.

Shopify is a hosted solution and you don’t require to be a geek in coding for getting your store up and running. It is a one-stop-shop, drag and drops website builder. This means you can effortlessly customize your store by moving elements through the page exactly the way you desire.

In Magento, if you get stuck somewhere then they have a pretty extensive user guide that escorts you through tricky methods. But unlike Shopify, they don’t have 24/7 phone support.

Ratings:     Shopify- 5/5                            Magento-3/5

SEO

It is found that more than 50% of online purchase begins with an online search. After you want to attract more and more potential customers to your online store right? Thus it becomes an important criterion for finding your online store and its product via Google and other search engine is essential.

You can also find apps and integrations in Shopify’s App Store and Magento Marketplace which can help you enhance your SEO efforts.

Shopify is user friendly as well as SEO friendly. You must be knowing that nowadays more than half of the website traffic worldwide is generated through mobile phones. Which implies you not only need to optimize your desktop site but also the mobile site for the SEO factor.

An app named ‘FireAMP’ in Shopify App Store which makes your mobile site 85% faster creating AMP pages automatically for all the product.

Magento also has great SEO apps whose count is over 250, but if you have got your budget high then you can think of using them, some apps are around the $300 mark.

Ratings:     Shopify- 3/5                            Magento-4/5

Time Investment

Before going further in this, I can tell you that Shopify requires much lesser time for building things up and running in comparison with Magento.

Shopify’s area of designing the platform is too simple and requires less custom coding. ‘Liquid’ programming language makes life easier for the developer to work with. You can create your own Shopify store within minutes. Installing new apps, adding new products, features are just a few clicks away.

Unless you are a coder you’re going to have hard times for restyling the design, modify your required changes. Magento is a robust and great platform, but it takes longer to set up and go live.

If you’re someone who doesn’t want to invest more on the developer for setting an e-commerce platform than Shopify would be recommended as it would save your major investment dollars that can be better spent on marketing and new ideas.

Ratings:     Shopify- 4/5                            Magento-4/5

Pricing

Shopify has transparent pricing scheme which is a subscription-based model. If you’re just a startup or having a small business then the most affordable plan that you suit you would be Basic Shopify Plan of $29 per month. However for an advanced option which has got more features and facilities go as high as $299 per month.

While in Magento as it is a self-hosted platform, the prior thing that you’ll need to decide on is your monthly hosting plan. It would be safe to say that Magento provides more robust platform than Shopify because of which can charge more for that premium experience.

You are responsible for your hosting and security, which may increase of cost, risk, and downtime in Magento. While in Shopify every single thing from hosting to bandwidth is taken care of by Shopify itself.

Ratings:     Shopify- 4/5                            Magento-3/5

Wrapping it up

Both the e-commerce giants have got their own pros and cons. However, if you don’t want to dip your toes in the term called “coding” or “technology” and just willing to produce quick results by selling then Shopify would be the best recommended for you.

On the other hand, if your tech-savvy and willing to invest some time to get the nuances of the technology and ready manage them all, then Magento can provide you with the great result for growing your online store.