With Product Analytics, capitalize on sales opportunities easily. Omnisend unifies and analyzes your product and customer data to provide insights into the best product to customer fit. Use Product Analytics to understand your customers' product preferences, products that drive first-time or repeat purchases and improve your marketing tactics.
Product Analytics Reports
As we release more and more features, there will be more analytics reports available soon. These are analytics reports that you can find under the Products tab in your Omnisend Dashboard right now:
Product Recommendations Report
The product recommendations report shows you 10 products with the most potential buyers based on our Product Recommender engine. This data enables you to build targeted messages where you can promote a specific product to the customers most likely to buy it.
How does Omnisend match the products with their potential buyers?
Product recommendations are powered by Omnisend’s Product Recommender engine. The same engine is also used to generate the personalized product recommendations that you can add as a dynamic content block in your automated emails. It takes into account each customer’s behavioral order history and compares it to other customers in order to suggest more relevant products.
Product recommendations are based on the last 30 days of customer order history.
How is this different from using personalized product recommendations in automated emails?
Product Recommender generated personalized product recommendations is an option that you can use to dynamically suggest relevant products in your automated emails. Simply put, it provides a variety of suggested products based on the email recipient.
Product Recommendations report acts as an inverse recommender - using the same engine and behavioral order data, it allows you to match a specific product with a segment of customers. In other words, instead of dynamically suggesting the right product to a specific customer, the engine does an inverse action of suggesting the right customer to a specific product.
Cart Abandonment Report
Find out what products get abandoned the most in the shopping cart rather than reaching your shoppers. As well as, how often shoppers come back for those products later on. Improve the checkout experience by offering an extra discount or a free delivery. This Report is available on all plans.
1. Cart abandonment rate shows how many carts does not convert to placed orders (purchases). According to data, the average rate at which the average consumer abandons their shopping cart before making a purchase is somewhere between 60-80% (depending on the industry, year, etc.). This means that, in the best-case scenario, most eCommerce sites lose at least three-fifths of shopping carts before buyers cross the line and convert. In other words, cart abandonment is one of the most crucial problems for online businesses to overcome. That said, it’s possible to decrease the cart abandonment rate by improving your eCommerce and checkout experiences, thus effectively increasing your revenue.
2. Addressable cart rate indicates what percentage of your carts are created by known contacts with known email addresses. This metric is important since we can only try to recover carts we can actually reach. Use this rate to see if you need to add more ways for the customer to provide their email address to you (e.g. Pop up form offering discount).
3. Cart recovery rate indicates the percentage of abandoned addressable carts you managed to recover using cart abandonment-focused automated workflows and other means. Keep an eye on this rate to see how effective your Abandoned Cart emails are and improve them if you think the rate is low.
Note! Products that stay in the cart for 60 min and do not get purchases are counted as abandonment cart products. If the shopper comes back and purchases the products after 60+ min the cart and products are counted as recovered.
First-Time Purchases Report
See which products work the charm when it comes to converting window-shoppers into first-time customers. Explore the products that your customers chose as their first purchase. Make sure that you have enough stock of those products and extra promotion could lead to even bigger sales. The data accounts for the products’ popularity during the last 30 days. This Report is available on all plans.
Uncover products that are most popular for repeat purchases. Use these insights for your retargeting and retention campaigns and boost shopper CLV. Omnisend shows the products bought during 2nd, 3rd, and further shopping sessions for the last 30 days. This Report is available on all plans.
Attributed Orders Report
Learn which products perform best due to your marketing activity (campaigns and automation) via Omnisend. Use this data to promote these products even more, so this will lead to even bigger sales. The data accounts for the last 30 days.
Abandoned Products Report
Sometimes some products are more problematic to sell than others. The abandoned products report displays products that visitors most frequently added to their shopping cart but did not purchase. Use it to investigate the reasons (such as poor creativity, pricing, insufficient cart recovery tactics) why visitors abandoned these products. The current version includes a list of abandoned products most often, including the number of carts, abandonment, and rate. It analyses cart and order data for the last 7 days. If multiple products have the same abandonment rate, the list is additionally sorted based on the number of carts. The report indicates the number of carts and orders where a specific product was included, it doesn’t indicate quantity, revenue, or a number of unique customers.
Product Profile Report
Product analytics reports allow you to learn how different products correlate with first-time buyer behavior, repeat purchases, abandonment of specific products, the effectiveness of email marketing (attribution), recommended products, and customer match. Each report provides insights allowing to apply different strategies to top products from each report. Product profile provides access to a single product view. It gives quick access to segments that are most relevant to each metric (e.g. how to sell a popular repeat-purchase product to existing customers, or how to send an email campaign to customers that match a specific product). To access the product profile just click on the product name in any of the tabs under Product Analytics Report.
Also, you can do that by clicking on the product names in Live View.
Instantly get top product categories based on the number of customers who bought from a particular category (or product collection in Shopify). Easily create a segment for categories that had many buyers in the last 30 days. In case you have multiple new product additions or changes and want to know which category promotion has the biggest potential to bring the most sales, the Trending Categories report will help you to do just that.