With all of your store metric connected, they will shift as things change in your store. Not just with large changes either, even small changes like a handful of new orders can shift your metrics. The problem is that improving one metric can harm another. Then when you go and...
Now that I've gone over a few core metrics for your store, let's put them all together. Alone they each have weaknesses or gaps but combined they can give you a clear picture. Combining Average Order Value with the Repeat Purchase Rate will tell you about how much each new...
While Average Order Value, Repeat Purchase Rate, Average Customer Purchase Latency, and Average Lifetime Value are the important business metrics you should monitor, there are dozens more of varying usefulness. Three really big one you shouldn't ignore are: Order volume Revenue Profit Order volume will tell you how many orders...
Lifetime Value, Customer Lifetime Value, and all of its ilk are often mixed up and misused. The two big problems comes from calculating it differently in different places or calculating it as an average of averages. Both lead to problems. The best way to think about Lifetime Value is the...
For a long time I wondered how to know when a customer is likely to buy again. Then I learned about Customer Purchase Latency which measures exactly that. Latency measures the time between events. It's used heavily in computer science and on the web for performance measurements (e.g. how long...
Next I'm going to cover a pair of related metrics, Repeat Purchase Rate and Returning Customer Rate. Both measure how customers come back and buy but how they define "come back" is different. Returning Customer Rate looks to see if a customer has ever purchased in the past. That could...
To close out the summer, I'd like to go through the main ecommerce metrics and tie them together so you can be more strategic with your metrics. Presenting the: Summer of Metrics ...cheers, fanfare, silly colored smoke released... Let's kick it off with Average Order Value (AOV). Average Order Value...
Yesterday I shared a detailed analysis of one Winter Holiday dashboard but there are a lot of other things it can tell you depending on your data: Are holiday customers spending much more or much less than non-holiday customers? Do they continue to place large orders? Are they taking advantage...
Looking at the new Winter Holiday dashboard in Repeat Customer Insights there's a lot of potential information you can use to improve your holiday. I'm going to use the data from the demo: (Even if you don't have the app, this process of figuring out the story your metrics are...
The Product Reorders report analyzes the products your customers reorder to find which ones are the most popular. Unlike best-seller or total units reports, this reports on the number of customers who have ordered a product more than once. The Customers column shows the number of unique customers who have...
Each tip includes a way to improve your store: customer analysis, analytics, customer acquisition, CRO... plus plenty of puns and amazing alliterations.