I was working with a friend on a metrics dashboard for his business. He wanted to have a better idea about a handful of key indicators he was watching. They measured how well his next two weeks would be and then overall how his business has been doing so far. Pretty basic stuff in the …
Tag: shopify metrics
Give your metrics a gut check
After you’ve collected last years metrics, take a quick at them and write down what they’re telling you. For example, Where there more orders than you expected? How does the Average Order Value (AOV) of the entire year compare to what you’ve been using? Where the most successful campaign results surprising? Taking a quick look …
This Black Friday trend is crystal clear for Shopify stores
46% in 2015. 54% in 2016. 64% in 2017. 66% in 2018. And now 69% in 2019. That’s the trend of how many sales happen on mobile during Black Friday / Cyber Monday across all of Shopify. Yet a lot of stores still design for desktop first and then leave mobile as an afterthought. Most …
Key performance indicators for single-purchase products
Repeat Customer Insights focuses on repeat customer metrics but one customer was asking about what to look for with new customers: This may seem like a strange question but do you have any suggestions for an app/methodology/dashboard to capture New Customer Insights? Traffic and conversion metrics are going to be very important to you, at …
Double your traffic, double your revenue
Recently I was talking with a business owner who was seeing some significant revenue growth. He wasn’t sure exactly why because he rolled out a lot of changes recently: a redesign, better sales copy, and SEO work. When we went over his sales funnel, we found that the majority of the growth was because he …
Dangers of using Lifetime Value with your Shopify customer acquisition plan
Customer lifetime value (LTV or CLTV) is a useful metric for a lot of things in Shopify. One area where I like to urge caution with it in as part of your customer acquisition budget. The common advice is to make sure you spend less to acquire a customer than what they contribute to your …
Why Shopify and Google might be counting your repeat customers incorrectly
Roy was comparing his repeat customer metrics in Shopify, Google Analytics, and Repeat Customer Insights and noticed they were all different: How do you define "repeat purchaser"? Your numbers are way different from the numbers I get from Shopify and Google analytics. Each system defines "repeats" differently. In Google Analytics it’s based on their cookies. …
Analysis of the best performing marketing channels in Shopify for BFCM 2017 and 2018
With Shopify releasing their 2018 Black Friday to Cyber Monday stats recently, I wanted to compare them to last years. The first one I’m interested in is the conversion rate by source. Conversion rate is such a key metric for your business that it’s an important one to watch. The marketing channel also tends to …
Insights into Repeat Purchase Rate drop-offs for Shopify stores
Your Repeat Purchase Rate should hold steady or improve as customers place repeat orders. This shows that they are engaging with your store and products. A Repeat Purchase Rate drop-off is where there’s a significant drop in your rate based on a clear behavior, usually from one order to the next (e.g. first to second …
Insights into the Repeat Purchase Rate metric for Shopify stores
Repeat Purchase Rate is the percentage of customers who come back to place another order. 100% means every customer comes back again. 0% means that no one comes back. According to industry figures, an average store’s repeat purchase rate should be around 27% – 32%. In other words, for every 100 purchases you should expect …