A common challenge for online merchants is what to do with all your customer data, and what it really means for your business. Feeling overwhelmed with all the metrics at your disposal? Not sure where to start? Or more importantly, what really matters when it comes to measurement? Check out this presentation from Vantage Analytics on how to analyze key metrics, what that means for your business and how to act on this data with marketing campaigns. The guys from Vantage shared some key learnings from analyzing data from hundreds of online stores over the past year.
5. WHAT IS REPEAT CUSTOMER RATE?
The percent of customers who have purchased
more than once.
This value varies widely across store categories:
• Clothing: 8%
• Gifts & Souvenirs: 6%
• Smoking Products: 23%
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6. WHY IS REPEAT CUSTOMER RATE
CRUCIAL?
• This is the easiest customer segment to target with
marketing campaigns
• They are your brand ambassadors
• Average Repeat Customer rate across our
merchants: 8%
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7. WHY IS REPEAT CUSTOMER RATE
CRUCIAL?
Repeat Customers tend to spend more than first time
purchasers
Store Category Percent Increase
Electronics/Appliances 56%
Hobby/Toy/Sporting Good 50%
Health and Personal Care 22%
Furniture/Home Furnishings 34%
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8. TIMING OF REPEAT PURCHASES
Anonymized Store X
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Optimal Time To Re-engage
10. WHAT IS ABANDON RATE?
• The percentage of all checkouts that were started
but never completed
• For the average shop, approximately half the
checkouts that are filled out, will be abandoned.
• A cart can be abandoned once, a customer can
abandon multiple times
• Abandon Rates in the last 90 Days across store
categories:
Clothing: 32.9%, Jewelry: 26.9%, Furniture: 42.2%
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11. WHY IS ABANDON RATE IMPORTANT?
• Unique to ecommerce - take advantage of this!
• Rethink how your customers abandon carts –
the customer lifecycle.
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16. HOW DO I DECREASE MY ABANDON
RATE?
• Find these customers and reach out to them
post abandon
• Consider different types of abandon rates –
Customer Abandon Rate vs. Cart Abandon Rate
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17. TURNING THESE METRICS INTO
ACTIONS
1. Target the right PEOPLE
2. Target those people with the right CAMPAIGN:
CHANNEL, OFFER, CALL TO ACTION
3. Target those people with a campaign at the right
TIME
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19. MEASURE YOUR RESULTS
Revenue – Return on Investment, Average Order Value
Orders – Average Order Size
Customers – Number of New Registrations
Click Through Rate, Reach, Impressions….
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20. THANK YOU FOR COMING!
@VantageAnalytic
www.VantageAnalytics.com
Info@VantageAnalytics.com
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