Hivewyre Market Insights - Free Analytics Tool

If you are an ecommerce company then it's important that you understand for your bottom-line not only how your business is doing internally, but also how its fairing in the overall ecommerce segment, which it is a part of. Since mid-March, Market Insights, a free analytics tool has been out and able to be installed on Shopify and Magento ecommerce sites, as well as any other ecommerce technology platform, by registering for free within the Market Insights page on the Hivewyre website.

The Art of War - Market Insights

Our free analytics tool is useful to all sizes of ecommerce sites, because it gives you insights on how consumers interact with your business, as well as other online retailers in your segment. We see Market Insights as a tool that the famous Chinese general, military strategist and philosopher, Sun Tzu, ascribed as the author of The Art of War, would be proud. Let us explain in more detail by taking some of the most famous quotes from The Art of War and relating them to how our free analytics tool can help your business:

Know your enemy. Know yourself.

art of war - hivewyre market insights quote 1The first quote to the left is probably one of the most famous quotes from the text. 

How does this relate to Market Insights?

Our user interface on Market Insights allows you to compare how your site stacks up to other ecommerce sites in your segment; so you are knowing both how your business is doing internally and externally with in marketplace.

 

 

CeRGh88WIAQz0xVThis second quote from Sun Tzu goes to both mindset and preparedness. 

How does this relate to Market Insights?

If you have data that not only speaks to your business but to how consumers are interacting with other sites, you will have a better idea/strategy on how to "win" this battle against your online competitors.

 

 

 

art-of-war-quote-3This point by Tzu is cunning.

How does this relate to Market Insights?

How do you keep a larger ecommerce competitor on its toes that has many more MUVs (monthly unique visitors) than your site does. Simple, with second-party data.

Second-party data allows a smaller ecommerce player to level the playing field a bit, by having access to large amounts of clean consumer data from sites in its own segment. The days of only the big online shops having access to huge pools of first party consumer data are coming to an end with each passing day. Due to the insights gleaned from second-party data (a competitor's first-party data), small to mid-sized ecommerce retailers are not only showing the appearance of being closer to their larger counterparts, they may indeed be making up some ground.

Free analyics tool - art of warThis fourth and last quote by Tzu is wise.

How does this relate to Market Insights?

Our tool doesn't discriminate. Sites big, medium and small are all part of our data cooperative, and thus the data your business has access to can become sort of a playbook on how to go about reaching consumers, who go to both larger and smaller sites than your own. 

 

 

This free analytics tool has a lot to offer any size business. You can now be more prepared than ever before for the countless ecommerce battles between you and your competitors for the all-mighty converted consumer.

 

 

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