Targets are your personalized goals for the main ecommerce metrics in your store. With them you can get your entire team all working towards the same numbers.
By setting a Target, a couple things happen in the system:
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Your graphs will add a red Target line to show you how close you are. This applies to the overall graphs, the cohort graphs, and acquisition-filtered graphs.
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The Insights advice system will use that target and automatically identify where you're not meeting the target.
Individual metrics targeted
Each metric can have it's Target enabled by entering your target value. This means you can have as many or as few targets enabled at once.
You can also change each Target on a whim.
This flexibility means you can easily re-prioritize Targets as needed. Perhaps this quarter you're focusing on customer retention so the Returning Customer Rate target is the most important but you want to keep Average Order Value from dropping too much. So you'd clear out all targets except those two.
Targeted metrics
Currently the following metrics are able to have Targets.
- Average Order Value
- Average Lifetime Value
- Repeat Purchase Rate
- Returning Customer Rate
- Average Orders per Month
- Average Orders per Customer
- Average Customer Purchase Latency
- Repeat Sales Rate
Eric Davis
Segment your customers automatically with RFM
Segmenting your customers has always been touted as a powerful marketing tool but many stores avoid it because it can be time-consuming.
Repeat Customer Insights will automatically segment your entire customer base for you based on the valuable data Shopify has already collected for you. Ranging from 5 to 30 to over 125+ different segments using RFM and other models, you can pick how much power you want to harness.