It is important to remember that retaining existing customers usually costs less than attracting new ones. Use your customers' contact information to send them new offers or invite them to your store's official social media groups. It is best if the number of returning users increases over time. If this is not the case, the problem may be the difficulty in finding the right product or unfavorable store conditions.
Some online retailers are struggling to increase canada mobile number the number of returning customers. This is especially true for those selling expensive, durable goods (real estate or specialized equipment).
Revenue from buyer
As for income, it can be determined by subtracting all expenses from the total profit. The higher this figure, the better your store is doing. If the income is insufficient, it is worth considering how to improve the situation. For example, you need to reduce the cost of advertising or promotion on social networks.
Average order value
The average check is calculated as follows: the total revenue for a certain period, for example, a month, is divided by the number of completed orders. This indicator helps you understand how much each customer spends on your site. Once you have determined this parameter, you can develop strategies to increase it. For example, you can offer a discount on purchases exceeding a certain amount, or implement other marketing techniques to stimulate sales.
Number of abandoned carts
According to research from Baymard Institute, up to 67.75% of purchases can be abandoned when visitors leave a site with items in their shopping cart. What factors cause potential customers to abandon their purchase after adding items to their shopping cart.
The reasons why buyers refuse to purchase may be the following:
the prices of the items in the shopping cart do not match those indicated on the product pages, or the final cost increases due to delivery, which may confuse the buyer;
the promo code used by customers is not functional;
no shipping information provided;
Customers unexpectedly discover additional costs when placing an order;
there is no convenient payment method;
There are technical problems when entering payment information.
Regular testing of the shopping cart functionality is a key element of a successful online store. Don’t hesitate to experiment with different ways of placing orders to make the process more convenient and intuitive for users.
Don’t forget to monitor unfinished purchases and actively remind visitors that they have items left in their cart. Try to contact customers to find out the reasons why they didn’t complete their purchase. This will help you improve the process and reduce cart abandonment.
All of the above indicators require management control. Analysis of the online store's operation is necessary for continuous monitoring of its performance, positive changes, and possible problems. This data will help you respond in a timely manner and take the necessary measures to improve the overall efficiency of the business.