Let's dig into the new Product Reorders feature in Repeat Customer Insights a bit more. First let's see how it works. It starts by taking your first product, the Real Food Bar - Beans and Rice in the above example. Then it finds all of the customers who have ordered...
Learning which products are popular is one of the goals of merchandising. Often this is the best-selling products, based on total sales. Popular can mean a lot of things though. What if your best-selling product only sold once and that customer just disappeared after buying it? It'd be pretty hard...
To wrap up the Summer of Metrics, lets get everything you've learned all packed up and shipped. Where did I leave the tape? Last time I shared how optimizing your store by improving one metric can butterfly-effect and change a bunch of other metrics. That then requires more change which...
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...
Each tip includes a way to improve your store: customer analysis, analytics, customer acquisition, CRO... plus plenty of puns and amazing alliterations.