An ecommerce website can throw off a dizzying array of data, and it’s easy to get caught up with tracking too much. We advise our clients to focus on a few basic metrics to assess ecommerce performance before diving into analyses of channels and user behavior.
The key metrics are:
- Website Traffic (Sessions, Users, and Pageviews)
- Revenue (Sales)
- Transactions (Number of Orders)
- Ecommerce Conversion Rate (Transactions over Sessions)
- AOV / Average Order Value (Revenue over Transactions)
- CLTV / Customer Lifetime Value
- CAC / Customer Acquisition Cost
Note: I wrote this post with the assumption that the primary ecommerce channel for the business is its own ecommerce website (e.g. sites on Shopify, Magento, or some other ecommerce platform). This may not be the case for many ecommerce businesses that sell largely on Amazon, eBay, or other marketplaces.
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We’ve been recommending an email marketing tactic for our clients that’s yielded some positive results. It’s dead simple: resend your email campaign to those who haven’t opened it the first time.
The fact is that even on a stellar email campaign, where open rates may be over 40%, more than half the subscribers on your list will have either completely missed or ignored what’s in the email. There are several things that could’ve contributed to this:
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Over the years, I’ve noticed that clients who invest the time and effort in proactively defining and aligning their organization’s story are often the ones that make better decisions and drive better results. I want to share what I mean by “story” and also provide a simple template that organizations can use as a checklist to identify and fill gaps in their stories.
Continue reading “How Solid is Your Organization’s Story? A Simple Template for Aligning on Who You Are”
I studied film and history college and my lifelong dream is to write a novel, no matter how crappy it turns out. I’ve always been fascinated by stories. Done right, stories can transport you to new places and incite various feelings within you. You can end up caring deeply about something or someone you knew very little about just minutes ago. An effective story can make you switch long-held beliefs or turn you into a staunch advocate or the meanest hater.
Continue reading “We Are in the Storytelling Business”