the top 5 must have magento reports

7/21/2019 The Top 5 Must Have Magento Reports

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The five reports you need to build a

data-driven business

The Top 5 Must-

Have Reports forMagento

ANALYTICS BASICS


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Magento is a great platform. Its incredibly flexible, and it is used to power

everything from early stage ecommerce stores to some of the biggest sites on

the internet. However, like any platform, some areas of its functionality are

stronger than others. In this white paper we explore an area where users

often need to extend Magentos out-of-the-box functionality: analysis and

reporting.

Magentos default reports

The default Magento reports are useful, but very basic. They include:

Top 5 items, search terms or customers

Most recent 5 customers, orders, or search terms Revenue and orders trends over time Lists of orders, products, customers, and search terms

These reports are great, but they wont allow you to build a data-driven

business. To do that, you need to supplement Magentos default reporting

with additional analysis.


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Whats missing from Magento

reports?

At RJMetrics, we work with hundreds of incredibly successful online retailers,

and weve found that certain reports are critical whether youre selling silly

putty or string cheese. If you dont have these reports,youre flying through a

thunderstorm with no compass.

Customer lifetime value

The lifetime value of a customer is the total amount of money spent by that

customer over the course of their purchase history. This is the single most

important metric to know for your ecommerce business, as it answers the

critical question Who are my best customers?

Segment this metric by demographics and youll uncover hidden insights that

can quickly improve your marketing and merchandizing. What if you found out

that women spent twice as much as men? Customers from the EU spent 3x as

much as North Americans? Your marketing team would love to make use of

this data in their customer acquisition efforts.

Customer Repurchase Rate

Stimulating repeat purchasers is a significant goal for almost every online

store. Its cheaper to sell additional products to existing customers than trying


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Recently inactive customers list

Continuing our repurchase analysis from above, its incredibly

important to identify recently inactive customers and target

them with reactivation campaigns. Start by defining aninactive customer. Is that someone who hasnt purchased in

30 days? 90 days? Maybe even a year, depending your

particular product category.

Once you have defined this criteria, generate a list of everyone

who has fallen into this group within the most recent period.

Then load this list of customers into your email marketing

program and target them with email marketing campaigns

aimed at reactivation.

Marketing campaign ROI

Your most important marketing metric is campaign ROI. If the analytics behind

your marketing campaign ROI are rock-solid, you can crank up your spend

with complete confidence youre investing money in profitably growing your

business. So locking down your campaign reporting is critical.

The difficult thing about generating this report is thatsome of the data likely lives in your shopping cart

platform (e.g. Magento) and some of it lives in your

web analytics platform (e.g. Google Analytics). Once

you integrate these data sources, you can move on to

segmenting your Customer Lifetime Value by

marketing channel and calculating channel ROI.

This report can be a doozy; we actually have a whole

white paper dedicated to exploring this type of analysis and a free Magentopluginto help you do it yourself.

Cohort analysis

Recently Inactive Cus tomers

Email Address Lifetime Value

[email protected] $1,[email protected] 805.69

[email protected] 691.61









Marketing Campaign R I

Channel CLTV CAC ROI

Facebook $95 $125 -24%

LinkedIn 450 225 100%

Google Adwords 600 400 50%

Google Display 220 190 16%

Retargeting 250 175 43%

Email 315 45 600%

Affiliate 65 100 -35%
http://www.magentocommerce.com/magento-connect/catalog/product/view/id/17660/s/rjmetrics-integration-2433/http://www.magentocommerce.com/magento-connect/catalog/product/view/id/17660/s/rjmetrics-integration-2433/http://www.magentocommerce.com/magento-connect/catalog/product/view/id/17660/s/rjmetrics-integration-2433/http://www.magentocommerce.com/magento-connect/catalog/product/view/id/17660/s/rjmetrics-integration-2433/http://www.magentocommerce.com/magento-connect/catalog/product/view/id/17660/s/rjmetrics-integration-2433/


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Last, but certainly not least, is cohort analysis. Cohort analysis isnt a specific

report, but rather a reporting technique, and its critical to understanding the

performance of many different aspects of your stores performance.

Essentially, the goal of cohort analysis is to understand underlying trends in

your stores performance over time. The first step is to break users down into

cohorts: groups who performed the same action all within a specific time

range. The most basic cohort is users who made their first purchase within a

given month.

Once youve broken users down into cohorts, you can compare performance

of one group against another. Here are some conclusions you can draw from

a good cohort analysis:

Our lifetime value keeps increasing for our most recent cohorts. Ournew user email marketing campaigns must be working.

Our return rates are dropping significantly for recent cohorts. Newerusers must be more satisfied with our products.

Cohort analysis is your primary tool to understand how changes you make

affect user behavior over time. In fact, we believe so strongly in running this

type of analysis that we created an entire tutorial on it. Check it out!
http://cohortanalysis.com/http://cohortanalysis.com/


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A shameless plug

At RJMetrics, we help hundreds of businesses understand their metrics and

make data-driven decisions. Our platform imports the data from all the

platforms you do business with and then outputs your critical business metrics

like customer lifetime value and churn.

Calculating your churn rate is doable without RJMetrics. But calculating your

churn rate, slicing it four different ways, running cohort analyses on top of it,

and updating all of these reports on a monthly basis? That can be pretty tricky.

Thats where we come in. Let us know if youd ever like to chat. And thanks

for reading.

the top 5 must have magento reports

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