Helping merchants get the best from their payment analytics, inclusive global payments platform, Ecommpay, has published a free handbook to highlight the KPIs merchants should track and how best to utilise the insights provided. Payment analytics help e-commerce businesses identify checkout drop-offs, optimise payment methods, improve approval rates and understand customer behaviour. These vital insights can help merchants grow their business.
The handbook, ‘Payment analytics: KPIs every merchant should track’ highlights the value of carrying out the right data analysis to enable payment strategy optimisation that will add value. Suggesting a range of improvements any merchant can implement, the handbook aims to help merchants optimise their own payment performance to maximise revenue opportunities.
“Utilised effectively, payment analytics can drive growth by turning data into actionable improvements,” commented Arturs Gocs, Chief Operational Officer, Ecommpay. “Payment analytics isn’t just about reporting numbers – it’s about making informed decisions that will benefit the business in the long term. We hope that our handbook will help merchants focus on insights that unlock revenue and address declining metrics.”
By tracking the right KPIs, visualising trends and monitoring performance in real time, merchants can turn payment data into revenue opportunities. Within the handbook, Ecommpay shares 10 things merchants need to know about payment analytics, including how to identify drop-off points that are costing revenue and how to optimise payment methods to match customer preference. It also covers how to improve approval rates and reduce declines as well as how to better understand and predict customer behaviour segments, devices and geographies.
