Running an online shop involves more than just selling products. You need to be able to understand data and make informed decisions.
In this blog post, we will look at important data insights that help you identify common problems within running an online business and more importantly, how to resolve them. You simply cannot afford to ignore them!
1. How to identify any issues in your shipping processes
Tracking pending orders gives you immediate visibility into orders that haven’t yet been completed. This is crucial for managing inventory and understanding your order fulfilment process.
By monitoring pending orders, you can identify bottlenecks in your shipping process and address them promptly. Consider implementing automated follow-ups or reminders to ensure that orders are processed more efficiently.
Top Tip: To streamline your order management, consider using dedicated account managers to help redesign your process flow for better efficiency.
2. How to spot any trends in your sales performance
Knowing the number of orders placed within the last 30 days provides a snapshot of your recent business activity, helping you gauge sales performance and seasonal trends.
Analyse peak periods of sales to plan better for inventory and marketing. Use this data to drive promotional campaigns during expected lulls to boost sales.
Top Tip: Leverage PPC services and email marketing tools to target customers effectively during peak shopping times or to boost interest during slower periods
3. How to track your financial health
The total revenue generated over the past month, helping you measure the financial health of your business.
Understanding your revenue trends helps in budgeting and forecasting. If revenue is trending downward, it may be time to revise your marketing strategies or product offerings.
Top Tip: Utilise any social media assistance and PPC services to increase outreach and drive more traffic and conversions to your site.
4. How to increase customer spend
Average Order Value (AOV) is a critical metric that indicates the average amount spent each time a customer places an order. Higher AOV means more revenue per transaction.
Boost your AOV by bundling products, offering upsells, or providing free shipping on orders above a certain value.
Top Tip: Implement gift vouchers and loyalty rewards programs to encourage higher spending.
5. How to understand customer engagement
The Page Views metric reflects the number of page views your shop receives, which is essential for understanding customer engagement.
High page views with low conversion rates might indicate that visitors are interested but not compelled enough to make a purchase. Optimise product pages and improve calls-to-action.
EKM’s web design services can help create a more engaging and user-friendly website to help convert page views into purchases.
6. How to improve your checkout experience
Checkout Conversion Rate shows how effectively your shop is converting visitors into paying customers, which is vital for assessing the efficacy of your checkout process.
Improve your checkout conversion by streamlining the checkout process, offering multiple payment options, and ensuring your site’s security is up-to-date.
Top Tip: Utilise website design services and tools like EKM Evolution Mode to optimise your checkout experience with a better design and user interface.
7. How to identify the value of each customer
Customer Lifetime Value (CLV) helps you understand the total revenue a business can expect from a single customer account. It influences marketing spending and product development.
Increase CLV by improving customer satisfaction through better product quality and customer service.
Top Tip: Enhance customer relationships through loyalty rewards.
8. How to track customer loyalty
The Repeat Purchase Rate metric indicates the percentage of customers who come back to make additional purchases, a key indicator of customer loyalty.
Drive repeat business by enhancing customer experiences and maintaining regular communication through email and social media.
Top Tip: Utilise email marketing tools to keep your customers engaged and informed about new products and offers.
Each of these insights can be easily found on your EKM dashboard and can lead to actionable strategies that propel your business forward.
We also have a range of services on hand, including PPC, social media assistance, and web design, that are designed to support these strategies.
For more details visit our Support Guide or you can contact our Customer Support team and they’ll help guide you through your shop analytics.
Looking to grow your online shop? Head to our website to find how you can grow and scale your ecommerce business.
