The Case for Building Ecommerce Analytics into Your 2023 Budget

Written by
Published on
October 31, 2022

As you reflect on 2022, what are the things that you’d like to be able to do better as an ecommerce leader in 2023? If improving customer retention, bringing transaction and customer behavior data together to make better decisions comes to mind, then you aren’t alone.

Here are some of the things that our customers told us they struggled with before using Glew:

  • Executive-level reporting was hard to create
  • Lack of visibility into inventory levels and sellthrough rates
  • Data wasn’t up-to-date or accurate
  • Key systems weren’t integrated
  • Lack of visibility into marketing channel performance and spending
  • Attribution (ROAS, MER) were difficult to calculate
  • Demand Planning was difficult
  • Lack of visibility into total marketing spend
  • Pricing Planning was difficult

We’re nearing the end of the year and now is the time to make the most of the budget dollars you have left to spend before the budget resets for 2023. It’s one thing to know what the problems are with your ecommerce analytics, but it’s another to figure out what the right solution is for your company to invest in. You may have discussed starting an inhouse analytics project to help solve your integration and reporting needs, but that can be an enormous expense. Below is a quick cost comparison of building and maintaining an inhouse ecommerce analytics solution versus investing in a solution.

With technical resources and data management and storage it’s already a huge expense, but add in the opportunity cost of not having actionable data and it becomes a number that’s beyond hard to ignore. Without the ability to reclaim at-risk or lost customers, optimally bundle products, and segment customers to optimize purchasing behavior your ecommerce company is leaving SO MUCH MONEY on the table.

Below are some customer stories that demonstrate the results they were able to achieve without having to do an inhouse analytics projects, and make the investment in Glew:

We'd love to help your company achieve these kinds of results with Glew. Let's chat about your goals in a 1:1 consultation.

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