It does not matter if you are operating a very small online shop with five orders per week or a huge business with seven figures in yearly revenue – it always makes sense for you to get insights into the behaviour of your customers as well as their needs and wants. Measures with the goal to get such insights are often compiled under the umbrella term “business intelligence”.
By using statistic tools like Google Analytics or etracker in your shop, you can use this kind of business intelligence to find out a lot about your customers. This includes figures about the amount of visitors, their locations as well as the time they spend in your shop. But these tools do not give you any information on some of the most important questions: Which products are the most popular ones? How often are they sold? And who are your best customers?
In the dashboard of your shop, you can already use widgets that display some of these numbers. Now, we also offer our new Sales Analytics App which conveniently shows you many more key performance indicators (KPIs) about sales. It can be used for free and delivers many actionable figures. You can use these numbers and derive measures to increase your shop’s revenue.
By installing the app from the ePages App Store, it connects automatically to your shop. Then you can visit the app’s website, where you can view all of the data you need to know about sales.
The first thing you see after logging in is the dashboard. It conveniently shows you your revenue, the number of orders as well as the top-selling products. That way you are always provided with the most important sales information. You can also choose a timeframe to view the data for a specific period. By using the menu on the left, you can navigate to further pages with more KPIs about sales, products and customers.
For instance, the app delivers answers to these questions:
- Which day saw the biggest revenue and the highest number of orders?
- What is the average revenue per order?
- Which products were ordered the most?
- How much revenue did a specific product bring?
- Which products were sold together most often?
- Which customers were responsible for the highest revenue?
- How many customers placed an order repeatedly?
By using this data, you gain valuable insights to make your shop more successful. Here are some examples on how you can take measures for increasing your revenue:
- If your customers are more likely to buy something on a specific day of the week, it could make sense to start special promotions on that day to increase the revenue even further.
- After finding out about the products that were ordered the most, you can promote them on your shop’s home page.
- When you are analysing the products that were sold together most often, you can exploit this kind of cross-selling – for instance by mentioning the complementary products in the product descriptions.
- In the Customers section you can see a list of the people who are probably the most important ones for your business: the ones which were responsible for the highest revenue. You can target this group directly with an email marketing campaign and reward them with a special coupon.
- Another very valuable figure is the amount of customers who placed an order repeatedly. Every returning customer is worth a lot to you, since he or she already knows about your shop and was obviously satisfied with your services in the past. You should strive to increase this number over time and get as many returning customers as possible.
As you can see, the Sales Analytics App enables you to target your customers more specifically. Have fun finding out new ways to increase your revenue!