ecommerce metrics: turn customer data into actionable insight
TRANSCRIPT
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WHERE DO YOU GO FOR
METRICS/INSIGHT?
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AGENDA
1. Some Top Metrics
- Repeat Customer Rate
- Abandon Rate
2. Turning Insight into Action
3. Discussion
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REPEAT CUSTOMER RATE
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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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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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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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TIMING OF REPEAT PURCHASESAnonymized Store X
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Optimal Time To Re-engage
ABANDON RATE
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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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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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Customer: Paula
Checkout 1, Monday:
Abandoned Carts: 100% (1 of 1)
Abandoned Customers: 100% (1 of 1)11
Customer: Paula
Checkout 2, Wednesday:
Abandoned Carts: 100% (2 of 2)
Abandoned Customers: 100% (1 of 1)12
Customer: Paula
Checkout 3, Friday:
Abandoned Carts: 100% (3 of 3)
Abandoned Customers: 100% (1 of 1)13
Customer: Paula
Checkout 4, Saturday:
Abandoned Carts: 75% (3 of 4)
Abandoned Customers: 0% (0 of 1)
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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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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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ACTION YOUR INSIGHT
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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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THANK YOU FOR COMING!
@VantageAnalytic
www.VantageAnalytics.com
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