Shopify articles - Page 50

Monitoring how your Shopify store performs each year

Throughout the year you'll want to monitor specific store metrics based on what you're actively working on. For example, if you're trying to reduce returns then metrics around your return rate and return rate by sales channel would make sense. There are other, more general metrics you'll want to keep...

So many Lifetime Values, so little clarities

This week I was doing some research on how to calculate a customer's Lifetime Value (aka LTV, CLTV, CLV, CV, BBQ, LOL, TLA...) It seems that no one agrees on even a definition of what Lifetime Value is, let alone how to calculate it. For some people it's the sum...

Measuring how the products in the first order influence customer repurchases

A Repeat Customer Insights customer was asking about the First Product Analysis and the Repeat Purchase Rate: I'm trying to understand the first product analysis report a bit better. Is repeat purchase rate indicate the repeat purchase rate of that particular item or is it only correlated to any specific...

How you sell will influence behavior

How you sell your products can be just as important as what you sell. Do you sell rock band shirts from the back of your van in the parking lot of a concert? Or do you sell them from inside the venue? Are you online-only or do you have a...

New Customer Grid snapshot to be taken on the 1st

Tomorrow's the start of a new month and I wanted to give you a heads-up. Shopify stores with Repeat Customer Insights will have their monthly customer segment snapshots taken and saved for analysis on the 1st. This shows up in the Customer Grid, allowing you to look back in time...

Imperfect optimizations can yield benefits for your Shopify store

One side of our house has a good-sized garden. During spring and summer, it gets a ton of sunlight and heat which helps everything grow well. In winter though, the sun drops to a low angle and basically goes away behind the neighbor's house. This makes growing anything during the...

Calculating the Repeat Sales Percentage metric

I've written about how your Repeat Sales Percentage can help you understand how much value new customers add to your store versus repeat customers. Today I want to show how to calculate it. Don't worry, it's just a simple division problem. Sales from Repeat Customers ---- Total Sales You'll end...

Using Recency and Frequency to measure customer loyalty

In Repeat Customer Insights there are a few insights you can pickup by comparing the Recency-Frequency (RF) Grids. The segments to the top right are the best for repeat customers, the ones to the bottom left are the worst. If segments to the right are increasing (higher Frequency), that's a...

Spot customer acquisition issues with the Customer Grid and RFM

Comparing the Customer Grids in Repeat Customer Insights can help you spot customer acquisition issues. The New and Promising New segments include customers who have only purchased one time. Their main difference is how recently they purchased. Comparing them month-to-month, you'll want to check their counts. If the counts are...

Discover if your customers are becoming more loyal over time

One question I hear a lot is: are customers becoming more loyal? Making that question easy to answer was the basis that drove the new Customer Grid compare I added to Repeat Customer Insights. Previously you'd need to consult a variety of metrics to measure loyalty. Repeat Purchase Rate for...

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