Reviving Lost Revenue: A Deep Dive into E-commerce Analytics with Dave Hyman

June 13, 2023

Talk-Commerce Dave Hyman

In this riveting episode of Talk Commerce, we’re excited to delve into the world of e-commerce monitoring and analytics with our special guest, Dave Hyman. Dave is the head of sales and the co-founder of Webeyez, a leading e-commerce monitoring and analytics solution that has made a name for itself by helping businesses recover lost revenue by tackling technical and operational issues head-on.

Webeyez’s impressive track record, boasting $3M recovered from a single error for EQ3 and a massive 83% conversion increase, sets the stage for this enlightening discussion. Jomashop experienced a recovery of $420K from one issue and an impressive 37% conversion increase, while Imagination Media enjoyed 60% YoY growth and a $1M increase in sales for their clients, thanks to Webeyez.

An industry game-changer, Webeyez operates on a grand scale, analyzing over 1 billion data points and monitoring over 338 million monthly pages. Their mission? To significantly boost businesses’ revenue, enhance customer satisfaction, and cut costs through their comprehensive monitoring and analytics system.

In our discussion with Dave, we dive into how his approach to sales success is grounded in effective communication and a deep understanding of the client’s needs. This allows him to build bespoke strategies that resonate with the client’s business model, bolstering their market presence.

Dave also shares insightful details about the conception of Webeyez, a platform that empowers business and tech teams with the instant ability to pinpoint critical site issues that disrupt online sales and the overall buyer experience. Through data-driven insights, teams can make intelligent decisions and refine the online buyer journey to perfection.

Join us on this episode of Talk Commerce as we unravel the secrets of e-commerce success with Dave Hyman and Webeyez, and discover how data analytics can be a game-changer for your business’s online growth.

When you will find it

Importance of Measuring the User Journey [00:06:29]Dave Hyman emphasizes the importance of measuring the full user journey on a website and understanding points of friction that lead to site abandonment.

Understanding Business Failures and Goals [00:08:00]Dave Hyman discusses the significance of measuring success at each stage of the user journey and the long-term goal of building loyalty with customers.

[00:11:37]Business Side Issues and Technical IssuesThe speaker discusses the different types of issues that can impact the customer experience, including goal failures, usability, third-party tools, and JavaScript errors.

[00:13:02]Top Business Side IssuesThe speaker explains that the top reasons for customer abandonment are related to business side issues, such as add to cart problems, out-of-stock items, coupon failures, and login issues.

[00:18:59]Importance of Constant MonitoringThe speaker shares an example of a coupon campaign that failed due to a validation date issue, emphasizing the need for ongoing monitoring to catch and fix issues that can impact sales and customer experience.

[00:22:11]Importance of Customer Support and Ticket SubmissionExplains the significance of addressing customer issues and the potential loss of customers who don’t submit tickets.

[00:23:28]Understanding Page Load Speed and Core VitalsDiscusses the impact of specific elements like images, fonts, and videos on page load speed and emphasizes the need to monitor and optimize these factors.

[00:25:40]Importance of Mobile Optimization and LoyaltyHighlights the importance of measuring and optimizing both desktop and mobile experiences, as well as the potential loss of customers due to a poor online experience.

[00:31:47]Importance of Customer Satisfaction and Low Hanging Fruit. Discussion on the importance of addressing customer satisfaction and resolving easy-to-fix issues.

[00:33:14]Meantime to Repair (MTTR) and Quick Issue ResolutionExploration of the industry term MTTR and the significance of quickly identifying and fixing issues to maintain a healthy company.

[00:35:39]Identifying Friction Points and Revenue Loss on WebsitesIntroduction to Web Eyes and its role in identifying friction points and revenue loss within the online funnel.

Mentions

Mentions with timestamps:

  1. Amnesty – Magento extension provider – Website

    1. Timestamp: 00:01:01

  2. Huf theme from Magento – A powerful and intuitive theme for Magento store owners – Website

    1. Timestamp: 00:02:42

  3. Webuycars – E-commerce monitoring and analytics platform – Website

    1. Timestamp: 00:00:00

  4. LivePerson – E-commerce SaaS solution provider – Website

    1. Timestamp: 00:04:15

  5. SimilarWeb – E-commerce SaaS solution provider – Website

    1. Timestamp: 00:04:15

  6. Ultapull – E-commerce SaaS solution provider – Website

    1. Timestamp: 00:04:15

  7. “Talk Commerce” podcast – Website

    1. Timestamp: 00:00:00

  8. Third party tools – Timestamp: 00:12:03

  9. Pagespeed – Timestamp: 00:12:03

  10. Site speed – Timestamp: 00:12:03

  11. JavaScript errors – Timestamp: 00:12:03

  12. Magento – Timestamp: 00:14:04

  13. Load testing – Timestamp: 00:14:21

  14. Website audit – Timestamp: 00:14:21

  15. Monitoring and alerting – Timestamp: 00:16:00

  16. Data analysis – Timestamp: 00:16:00

  17. Webinar signups – Timestamp: 00:17:04

  18. Holiday sales – Timestamp: 00:18:03

  19. Coupons – Timestamp: 00:18:30

  20. Conversion rate optimization – Timestamp: 00:20:10

  21. KPIs – Timestamp: 00:20:10

  22. Coupon optimization example – mentioned at 00:21:26

  23. Core Vitals – mentioned at 00:22:25

  24. Mobile-first approach – mentioned at 00:23:37

  25. Loyalty and customer experience – mentioned at 00:24:33

  26. Importance of website performance – mentioned at 00:25:08

  27. Gold failures – mentioned at 00:28:14

  28. Tool: Web Eyes – Timestamp: speaker 2 00:35:10

  • Description: A solution for identifying issues and improving website usability.

  1. Industry Term: Empty TR (Time to Repair) – Timestamp: speaker 3 00:33:14

  • Description: Refers to the amount of time it takes a team to detect and fix an issue.

  1. Book: “The Lean Startup” by Eric Ries – Timestamp: N/A

  • Description: Not mentioned in the episode, but a recommended book for startups and entrepreneurs.