Contenu connexe Similaire à Metrics for Online Retail (Shopify/.CO/Luxr webinar) (20) Metrics for Online Retail (Shopify/.CO/Luxr webinar)3. Who is
?
Supporting entrepreneurs worldwide
Video based curriculum
Short video workshops
In-person workshops around the world
© 2014 Luxr Incorporated www.luxr.co
7. How do I find my
numbers?
has some basic features
Google Analytics
© 2014 Luxr Incorporated www.luxr.co
8. How do I find my
numbers?
Buy a clicker!
© 2014 Luxr Incorporated www.luxr.co
9. How do I find my
numbers?
Buy a clicker!
© 2014 Luxr Incorporated www.luxr.co
10. How do I find my
numbers?
Buy a clicker!
Keep a log by the register
© 2014 Luxr Incorporated www.luxr.co
11. How do I find my
numbers?
Buy a clicker!
Keep a log by the register
© 2014 Luxr Incorporated www.luxr.co
12. How do I find my
numbers?
Buy a clicker!
Keep a log by the register
© 2014 Luxr Incorporated www.luxr.co
13. How do I find my
numbers?
Buy a clicker!
Keep a log by the register
© 2014 Luxr Incorporated www.luxr.co
14. How do I find my
numbers?
Buy a clicker!
Keep a log by the register
© 2014 Luxr Incorporated www.luxr.co
18. There are many ways to
acquire customers
Paid traffic
Mailing lists
Search results
Social media
© 2014 Luxr Incorporated www.luxr.co
22. Using the Pattern
Observe
Establish a
baseline
Act
Brainstorm
ideas to
drive traffic.
Try one as an
experiment.
© 2014 Luxr Incorporated www.luxr.co
Observe
Track the
results
23. Brainstorm!
What can you do to get more customers to
come to your store?
2:00
:15
1:45
:30
1:30
1:15
© 2014 Luxr Incorporated www.luxr.co
:45
1:00
24. Brainstorm!
Just 4 ideas to increase traffic
2:00
:15
1:45
:30
1:30
1:15
© 2014 Luxr Incorporated www.luxr.co
:45
1:00
25. Brainstorm!
Just 4 ideas to increase traffic
2:00
:15
1:45
:30
1:30
1:15
© 2014 Luxr Incorporated www.luxr.co
:45
1:00
26. Brainstorm!
Just 4 ideas to increase traffic
2:00
:15
1:45
:30
1:30
1:15
© 2014 Luxr Incorporated www.luxr.co
:45
1:00
27. Brainstorm!
Just 4 ideas to increase traffic
2:00
:15
1:45
:30
1:30
1:15
© 2014 Luxr Incorporated www.luxr.co
:45
1:00
28. Brainstorm!
Just 4 ideas to increase traffic
2:00
:15
1:45
:30
1:30
1:15
© 2014 Luxr Incorporated www.luxr.co
:45
1:00
29. Brainstorm!
Just 4 ideas to increase traffic
2:00
:15
1:45
:30
1:30
1:15
© 2014 Luxr Incorporated www.luxr.co
:45
1:00
30. Brainstorm!
Just 4 ideas to increase traffic
2:00
:15
1:45
:30
1:30
1:15
© 2014 Luxr Incorporated www.luxr.co
:45
1:00
31. Brainstorm!
Just 4 ideas to increase traffic
2:00
:15
1:45
:30
1:30
1:15
© 2014 Luxr Incorporated www.luxr.co
:45
1:00
35. Make it happen
Put some time in your schedule to do the work
Get started right away
© 2014 Luxr Incorporated www.luxr.co
36. Using the Pattern
Observe
Establish a
baseline
Act
Brainstorm
ideas to
drive traffic.
Try one as an
experiment.
© 2014 Luxr Incorporated www.luxr.co
Observe
Track the
results
38. Conversion
Of the people who visit, how many buy?
$
MONEY
$
$
$
$
MONEY
$
MONEY
MONEY
$
$
$
MONEY
MONEY
$
$
MONEY
© 2014 Luxr Incorporated www.luxr.co
$
$
$
40. Conversion Is Key
Low conversion suggests fundamental problems:
1 Wrong target market
2 Wrong product for the market
3 Wrong message
© 2014 Luxr Incorporated www.luxr.co
46. It’s hard to get
people to visit your
store.
Make the most of
each transaction.
© 2014 Luxr Incorporated www.luxr.co
51. Many other things
to measure
Repeat sales
Customer referrals
Page views per visit
Item views per visit
Abandoned carts
© 2014 Luxr Incorporated www.luxr.co
53. If tracking your
metrics doesn’t
change your
behavior...
...then there’s no
point in doing it.
© 2014 Luxr Incorporated www.luxr.co
61. How they play
together
ON
ITI
S
UI
Q
Aa day
If 500 people visit my store in
2% make a purchase
That’s 10 purchases
ON
C
Average cart size is $40
My gross is $400
© 2014 Luxr Incorporated www.luxr.co
RS
VE
N
IO
62. How they play
together
ON
ITI
S
UI
Q
Aa day
If 500 people visit my store in
2% make a purchase
That’s 10 purchases
ON
C
RS
VE
N
IO
ER
P
RS
LA
OL
D
LE
SA
Average cart size is $40
My gross is $400
© 2014 Luxr Incorporated www.luxr.co
63. Backtrack to discover
what you need
If your profit (net of COGS) is
50%, that’s $200
-BUTIf it costs me $300/day to run my
business, I know I need to change
something
© 2014 Luxr Incorporated www.luxr.co
64. What do I do?
Increase Acquisition to 750 visitors
-or-
Increase Conversion to 3%
-or-
Increase Dollars Per Sale to $60
© 2014 Luxr Incorporated www.luxr.co
65. Acquisition: Baseline
500 visitors converting at 2% = 10 purchases
10 purchases x $40 each = $400 gross
$400 gross x 50% = Net of $200
© 2014 Luxr Incorporated www.luxr.co
66. Acquisition: Improved
750 visitors converting at 2% = 15 purchases
15 purchases x $40 each = $600 gross
$600 gross x 50% = Net of $300
© 2014 Luxr Incorporated www.luxr.co
67. Conversion: Baseline
500 visitors converting at 2% = 10 purchases
10 purchases x $40 each = $400 gross
$400 gross x 50% = Net of $200
© 2014 Luxr Incorporated www.luxr.co
68. Conversion: Improved
500 visitors converting at 3% = 15 purchases
15 purchases x $40 each = $600 gross
$600 gross x 50% = Net of $300
© 2014 Luxr Incorporated www.luxr.co
69. Dollars per sale: Baseline
500 visitors converting at 2% = 10 purchases
10 purchases x $40 each = $400 gross
$400 gross x 50% = Net of $200
© 2014 Luxr Incorporated www.luxr.co
70. Dollars per sale: Improved
500 visitors converting at 2% = 10 purchases
10 purchases x $60 each = $600 gross
$600 gross x 50% = Net of $300
© 2014 Luxr Incorporated www.luxr.co
71. This is a way of life that
grows your business
750 visitors converting at 3% = 22 purchases
22 purchases x $60 each = $1350 gross
$1350 gross x 50% = Net of $675
© 2014 Luxr Incorporated www.luxr.co
72. Measuring tells you
what, but not why.
Talk to your customers
Listen to your customers
Learn from your customers
Empathize with your customers
© 2014 Luxr Incorporated www.luxr.co