e-Commerce Analytics Blog
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Transitioning to GA4: A Simple Guide for Shopify Merchants
Introduction If you're a Shopify merchant, hopefully by now you've heard about Google Analytics 4 (GA4). It's the latest version of Google Analytics, providing advanced tracking and analysis features. By installing GA4 on Shopify, businesses can track their website's performance and gain insights into customer behavior. The new version introduces significant changes to the user interface and data collection, processing, and display, which users of the previous version will need to adapt to. Furthermore, with Google announcing the sunsetting of Universal Analytics starting July 2023, it's essential for Shopify merchants to prepare for the transition to ensure seamless data usage for day-to-day operations. In this guide, we will walk you through the process of installing GA4 on Shopify using Shopify's native integration in just a few simple steps. GA4 for Shopify: Why Make the Switch? Google Analytics has been the go-to tool for understanding website performance and user behavior for many years. With the introduction of GA4, Google aims to offer a more comprehensive and insightful analytics platform, tailored to meet the growing needs of ecommerce businesses. Switching to GA4 for Shopify comes with numerous benefits: Advanced tracking and analysis features: GA4 offers enhanced tracking and analysis features, such as cross-device tracking, better audience segmentation, and funnel analysis. These features enable you to gain a deeper understanding of your marketing strategy's performance as well as your customers' behavior and make data-driven decisions for your business.Continuity - Sunsetting of Universal Analytics (GA3): As mentioned earlier, Google has announced the sunsetting of Universal Analytics (GA3) starting July 2023. Transitioning to GA4 before the deadline ensures continuity in data collection and analysis, preventing any disruptions to your business operations.Integration with other Google services: GA4 seamlessly integrates with other Google services, such as Google Ads and Google Search Console, making it easier to manage your marketing efforts in one place.Improved privacy and data protection: GA4 is designed to be more privacy-centric, ensuring compliance with current and future privacy regulations. This is particularly important for Shopify merchants as they handle sensitive customer information. Given these advantages, it's evident that transitioning to GA4 for Shopify is a must for businesses aiming to stay ahead in the competitive ecommerce landscape. Google Analytics Shopify Setup: A Step-by-Step Guide to GA4 Integration Follow this step-by-step guide to set up GA4 on your Shopify store using Shopify's native integration: Step 1: Prepare Your Google Analytics Account To begin the Google Analytics Shopify setup, ensure you have a Google Analytics account with a GA4 property and data stream ready to use. If you already have everything set up, you can skip this step. Otherwise, follow this guide to create a new Google Analytics property for your Shopify store before proceeding. Step 2: Locate Google's Channel/App in Shopify's Admin Panel To set up GA4 for Shopify, navigate to your "Online" channel, click "Preferences," scroll down to the Google Analytics section, and click the "Manage Pixel" button. Alternatively, search for the Google app in the app search bar and install it on your store. Need a shortcut? Here is Google's app page on Shopify's app store Step 3: Connect Your Google Analytics Account Once inside the Google Channel, you'll be asked to connect your Google Account. Click "Connect" under the "Connect your Google Account" section inside Google's channel and approve Google's request for permissions. Step 4: Select Property, Stream, and Connect Choose the desired data stream and click "Connect." If unsure which data stream to use, refer to the GA4 property setup guide for Shopify mentioned above. Step 5: Verify Your Setup To ensure the successful GA4 for Shopify setup, visit the "Real-time" section of your GA4 property in Google Analytics to ensure data is populating. If not, check the data stream setup. This step is crucial to confirm that your Google Analytics Shopify setup is successful and working as intended. If nothing pops up yet, try visiting your own store. Do you see your own data in the Real-time report? If not, check to make sure that you chose the right data stream during setup. Note that there is some lag in processing the data in GA4, so most of the reports won't show any new information for about 24 hours. Make sure you visit it again the next day to make sure everything looks right. You may also want to consider removing the previous version's integration from your store, although these two integrations don't really interfere with each other, so as long as it's still active, you may want to keep both for comparison purposes. That's it! Installing GA4 on Shopify is essential for maintaining valuable insights into customer behavior and website performance. By following this guide, you can smoothly transition from Universal Analytics to GA4 and continue to optimize your store's performance. If you need any further assistance or have questions about the process, don't hesitate to reach out!
AnalyticsTurning the Page: An Important update from the Blyp teamHello Blyp Family, Sometimes, sunsets come unexpectedly, catching us off guard with their sudden beauty. Today, we find ourselves under one such unexpected sunset as we share this update with you. From the very beginning, Blyp was more than just a service; it was a community, a shared dream. We've laughed, learned, and grown together, with every pixel and every line of code inspired by the stories you shared with us. However, life has its own script, and sometimes, it brings unexpected turns. Effective immediately, Blyp will be discontinuing its services. We understand this might come as a surprise, and we're truly sorry for any inconvenience this may cause. Your Data: Trust has been the cornerstone of our relationship. As we transition, we want to reassure you that all your data stored with us will be permanently erased. Your privacy remains our utmost priority. While this chapter ends a bit more abruptly than we'd have liked, we're filled with gratitude for the moments we've shared. The memories, the challenges, the triumphs – they've made this journey unforgettable. If you have questions, need assistance, or just want to share a memory, we're here for you. Reach out to us at email@example.com Thank you for being the heart and soul of Blyp. Here's to the memories we've created and the paths we'll cross in the future. With warmth and gratitude, The Blyp Team 🌅
MetricsWhy Median Order Value Matters: Rethinking Shopify eCommerce MetricsUnderstanding and effectively leveraging key performance indicators (KPIs) is increasingly crucial for ecommerce businesses. Ecommerce platforms, like Shopify, provide their merchants with a wealth of data, including metrics like Average Order Value (AOV). However, as valuable as AOV can be, there's a case to be made for considering another important metric: the Median Order Value (MOV). AOV has long been a staple in eCommerce performance measurement. Yet, AOV's sensitivity to outliers or extreme values makes it less suited for certain types of analysis. It is in these situations that the Median Order Value (MOV) can provide greater insights. Understanding AOV Skewness: A Shopify Case Study? Consider a Shopify store that sells handbags. Let’s assume that during a specific month it got 99 orders of $100 each (so an AOV of $100). Then, one day, a buyer makes single extravagant purchase of $10,000. How does that impact the AOV for that month? It will change significantly and would be jump towards $199. Does this major change reflect the overall state of the business in that month? Yes. Does this number still accurately reflect the spending behavior of the buyers of the store? No. The Importance of Median Order Value for Shopify Merchants The Median Order Value (MOV) comes into play as a robust metric for understanding the 'typical' customer's behavior. Unlike AOV, the MOV is less impacted by outlier values, resulting in a more accurate representation of spending habits. In the scenario above, the MOV would be $100, a far more realistic figure for most customers' spending. This number is calculated by ordering the values and identifying the middle value. Therefore, the MOV for this Shopify store would be $100, a figure that is more representative of the typical order and not skewed by the single large purchase. Using Median Order Value: Practical Applications for Shopify Retailers MOV can be especially insightful for Shopify merchants when it comes to evaluating the return on investment (ROI) or Return on Ad Spend (ROAS) of their marketing efforts. Basing marketing ROI calculations on an inflated AOV could lead to overestimation of campaign effectiveness and risk of overspending on customer acquisition. Instead, referencing MOV can lead to more balanced and profitable marketing strategies. Similarly, assessing initiatives like customer profiling or segmentation, Conversion Rate Optimization (CRO) tactics or leveraging a new app on your store can benefit from using MOV. Since AOV is susceptible to outliers, it may overshadow the true nature of your buyers or the impact of these initiatives on core performance. Why is AOV More Popular than MOV in Ecommerce Analysis So why isn’t MOV used an mentioned as often as AOV? AOV has gained popularity as it's straightforward to calculate and is a concept familiar to many. Additionally, most analytical platforms and dashboards, including Shopify's, only offer AOV, making it the de facto standard. In addition - A Median is not a very intuitive metric to comprehend, calculate and articulate. It’s also not very commonly used on people’s day to day lives outside of their business (whereas Average is everywhere). Choosing Between MOV and AOV: When to Use Which for Shopify Analytics The key lies in embracing Median Order Value alongside Average Order Value to make smarter, data-driven decisions. That said, here is a generalization of what each metric is better used for: Using MOV can offer a more nuanced understanding of customer behavior. In other words, if you’d like to know WHO your customers or what is their typical purchase behavior is and how it changes across time/initiatives - use MOV. Simultaneously, AOV is a better proxy for the overall state of your business as it provides a normalized view of your revenue (normalized to the number of buyers). It can also be leveraged for long-term analysis and large-scale performance as in large numbers the outliers has less of an impact and the AOV and MOV will likely be closer. In other words - If you’d like to get a high level snapshot of HOW your store is doing from an overall business perspective - use AOV. The Key to Ecommerce Success: Balancing MOV and AOV Metrics in Shopify The future of eCommerce, especially for platforms like Shopify, demands a balanced approach to metrics. The combination of MOV and AOV can help you make robust, informed decisions. Remember to use AOV for long-term forecasts and larger scale overall performances, while employing MOV for smaller scale and “typical customer” nuanced analyses. This strategy will ensure your decisions are well-informed and data-driven. As always, we welcome any questions or different perspectives on the AOV vs. MOV discussion, feel free to share and/or reach out to continue the conversation!
MetricsHow to Calculate and Increase Your Average Order ValueIf you're looking to grow your business, increasing your average order value is an important first step. We’ll detail how you can do this here. What Is an Average Order Value? Average order value (or AOV), is one of the most important factors to consider when you are running a business. It is a measurement of the average value of an order. AOV is best used to understand your overall store's performance however we recommend that along side AOV you make use of Median Order Value (MOV) to better understand your "typical" customer. Google Analytics is a handy platform businesses can use to track average order value. Amongst many other functions, like tracking link clicks, tracking AOV can be carried out from its very handy set of e-commerce analytics tools. Need help with Google Analytics? Take a look at our guide to analyzing and interpreting user metrics on GA. What Is a Good Average Order Value? A good average order value (AOV) is one that contributes to a company's bottom line by bolstering sales and profits. According to Littledata, across all industries, a survey of over 3100 stores in July 2022 showed that the average order value sits at around $101 USD. They go on to say that an order value of $270 USD would place a store within the top 20% of the top-performing businesses. Conversely, an order value of just $53 USD placed a store in the lowest 20%. Where Can You See the Order Value? You can use this easy guide to track your order value in Google Analytics: Sign in to your Google Analytics accountBegin by going to the "Conversion" on the left panelClick on the e-commerce dropdownSelect "Overview"You can see the average order value in this report If you wish to assess the order value your sources are contributing, do as follows: Start from "Acquisition"Select "All Traffic"Choose "Source/Medium"Now go to the explorer tab and click on e-commerce Are you using Shopify to run your e-commerce store? If so, check out how to add Google Analytics to Shopify with this handy guide. How Is Average Order Value Calculated? Google Analytics uses this formula to calculate the average order value: GA Average Order Value = Overall value of sales in dollars / Total orders in a specific time This calculation gives a snapshot of the average order value at a given point in time. To get a more accurate picture of average order value, analysts often look at data over a period of several months or years. For instance, if you’ve made your website on WordPress, you can install the WordPress Analytics plugin to monitor your AOV. This is how to calculate AOV: You need to first calculate the revenue made over a predetermined period and then divide it by the number of orders made during that time. For example: Your revenue for the month of January was $2000The number of orders your business received was 25Therefore, your average order value is $80 4 Ways to Increase Average Order Value To highlight the importance of AOV and help you boost sales, we'll explain how to increase average order value with these 4 tried and tested strategies. Additionally, you should ensure that you understand the stages of the consumer buying process. 1. Use Cross-Sell and Upsell Strategies Cross-selling and upselling is clever salesmanship. Cross-selling simply means to sell a customer an additional product on top of their original purchase at the checkout stage. While up-selling simply means convincing a customer to buy a more expensive product with a larger profit margin than they originally intended to buy. Both methods can increase average order value simply by increasing the amount of money the customer was originally planning to spend on your business. In order to do this, you need to understand customer behavior on your store. 2. Designate a Minimum Order Amount for Free Shipping When customers see that there is a minimum spend for free shipping, they are more likely to find ways to get their order above the minimum. It becomes a challenge to them, and they will often look for ways to make the purchase worth it. For example, they might purchase items they didn’t plan on or purchase a more expensive option just to reach the minimum order amount to receive free shipping. 3. Offer a Comprehensive Returns Policy The main benefit of offering a returns policy is that you can reassure your customers that the products you are selling are of good quality and worth the price. That way, they would be more confident in buying from you and hence commit to a bigger purchase. In the end, they are more likely to recommend your site to their friends. An added benefit is that customers don't have to be worried about purchasing expensive clothes, shoes, or jewelry from you because they know they can return them if they don't fit or if they aren't satisfied. 4. Offer Bulk Order Discounts Offering your customers a discount on bulk orders will increase the average order value. The reason for this is that the higher the order value, the more money the customer "saves" by placing single or multiple orders. In other words, customers with larger orders find it more beneficial to purchase in bulk as it allows them to save more money while subsequently boosting your AOV and increasing revenue and profit. This can also help you optimize the conversion process.
Google analyticsDon't Miss Out: Set Up a Google Analytics 4 (GA4) Property for Your Shopify Store Before Universal Analytics SunsetsAs a Shopify store owner, understanding your customers and their behavior on your website is crucial for optimizing user experience and driving sales. Google Analytics 4 (GA4) is the newest version of the popular analytics tool designed to provide in-depth insights into your online store's performance. Though most people have had the chance to get to know Google Analytics at it's current format (Universal Analytics, aka GA3), few got accustomed to the new version Google launched a couple of years ago. Moreover, since Google intends to sunset GA3 by July 2023, every Shopify operator needs to make sure that their store is properly set up for that change to make sure you aren't missing out on any data or insights. To get ready, first you'll need to make sure that you have a GA4 property ready to be used. In this guide, we'll walk you through the process of opening and setting up a new GA4 property for your Shopify store. Step 1: Create a Google Analytics Account (If you don't already have one) Visit the Google Analytics website at https://analytics.google.com/ and sign in using your Google account.Click on "Start measuring" if you don't have an existing account or "Admin" > "Create Account" if you already have an existing property but want to set up this new property on a new account.Enter a descriptive account name, such as "My Shopify Store," and configure your data sharing settings.Click "Next" to proceed. Step 2: Set Up a New GA4 Property Choose "Create Property" and enter a property name that represents your Shopify store (e.g., "My Online Store").Select the appropriate time zone and currency for your store.Click "Next" to configure the business information.Choose "Website" as the data stream type and enter your Shopify store's URL.Click "Create Stream" to generate your unique tracking code. Step 3: Locate the "G-" Tracking ID After successfully creating your GA4 property, click on "Data Streams" in the left-hand menu of the GA4 property dashboard.In the "Data Streams" section, click on the data stream that you created for your website.On the data stream details page, find the "G-" tracking ID (e.g., G-123456789) located near the top of the page. You will use this tracking ID to integrate GA4 with your Shopify store. Step 4: Customize Your GA4 Property (Optional) You can now explore various GA4 features and reports to gain insights into your Shopify store's performance. Consider setting up custom events, configuring conversion goals, or segmenting your audience to obtain more specific data and make data-driven decisions. More on recommended GA4 set ups in an upcoming post. Next: Setup the integration with Shopify! That's it, you've successfully opened and set up a new Google Analytics 4 property for your Shopify store. The next step is to properly set up Shopify's native GA4 integration through the "Google" channel. Use this powerful tool to analyze your store's performance, understand your customers, and optimize your site for better conversions and user experience. Regularly monitor your GA4 data to make informed decisions and watch your online store grow. Keep an eye for additional GA4 tips for Shopify operators coming soon and as always - feel free to get in touch if you need any help or have any question.
Google analyticsShopify's Additional Payment Methods - The silent attribution killerLet me know if this sounds familiar to you: You've recently opened your Google Analytics to examine which traffic sources are driving people to your store. If you tried to identify which traffic sources led to the most transactions (by using a Google Analytics segment or sorting on "Transactions"), you may have noticed an odd source/medium that appears as shop.app / referral. What's even more unusual is that if you look at the conversion rate of this source, it's insanely high. You may have been asking yourself "What is this shop.app source, and if it's converting so well, shouldn't I be trying to get more people through it?" Let's break these questions down and tackle them one by one: What is Shop.app / referral and why is it showing as a source for my Shopify store? Before we answer this question, here is a quick reminder of how Google Analytics determines the source of traffic: How does Google Analytics determine the source and medium of traffic? If UTM parameters are passed in the URL as the user enters your site, these determine the source/medium if they were specified.If the source/medium wasn’t explicitly specified, Google looks at an internal parameter called a referrer. If it finds one, then that would be set as the “source”, and “referral” will be set as the medium.If it doesn’t find the referrer path, either because the site was opened on a new tab/window or because a site chose to hide the referral (yes, you can intentionally hide the referring site parameter), then Google has no idea who was referring the traffic.If Google recognizes the device or the user, then it would look back to see if they saw that user within the past 30 mins, and if so, assign their previous source/medium to the current session as well.If it doesn’t recognize the device or the user, they would just assign “Direct/none” as the source/medium.This method is often referred to as Last non-direct click. Google assumes that you would rather have their best guess than no information at all. It's also the cause for a lot of confusion among Shopify store operators (for further reference on the processing flow of the traffic parameters, see this article from Google) How does Google “know” a visitor on my store has made a purchase? One more important thing to understand about the native integration between Google Analytics and Shopify, is that the actual purchase signal is being sent to Google at the “Thank you” page. Shopify’s internal code is set up so that when the user has finished the checkout process and made it to that page, Shopify is sending the “transaction” even to Google. That means that if someone never made it to Shopify’s thank you page for some reason, then the transaction would not be counted in Google Analytics. That part of the process is the main reason why you may have seen some discrepancies in the past between Shopify’s data and Google Analytics’ data. Their numbers won’t match because there are many reasons which can prevent the event being sent from Shopify’s thank you page. But that’s for another post. Ok, with that out of the way, let’s get back to Shopify. You bought it, you broke it. You know how Shopify allows you, as a merchant, to offer your clients several express checkout options? You know, Apple Pay, Amazon Pay, Google Pay, and maybe most importantly, Shopify Pay. When your client chooses to go through one of these payment options, Shopify "sends" the user to these platforms to authenticate themselves and their payment method before bringing them back to your thank you page once the transaction is confirmed and finalized. So far, so good, right? Well, almost. As far as your store is concerned, everything went smoothly. Your customer chose their preferred payment method, you got the payment, everyone is happy. Now recall what I mentioned in the previous section about Google Analytics - What Google sees on their end is that right before the transaction event, on the thank you page, the user came in from another source… Because Shopify sends the customer outside of your site and then brings them back in, Google thinks that the user entered your site again from another website. That website isn’t sending UTM parameters, but it does include the “referrer” default parameter. Can you guess what that parameter’s value is? That’s right - shop.app Now it all makes sense - Google thinks that shop.app is this great website that is sending over visitors who are converting at an incredible rate. In reality, it’s your customers who just came back from authorizing the Shopify App to pay for your goods in your store. No wonder it has a high conversion rate… Ok, so what does this shop.app has to do with attribution again? Let’s make it clear first - This issue doesn’t impact your sales directly in any way. What it does is prevent you from understanding your traffic and what is converting well on your store. If every customer who pays through one of the express checkout options is marked as if they were acquired through shop.app, how would you know which traffic source you should really attribute this sale to? Got it. So now what? How do I fix the shop.app source issue? Google knows that these issues can happen, not just on your Shopify store but on many other use cases as well. They offer a setting option on Google Analytics (both Universal Analytics and GA4), where you can tell Google something like “Hey, when someone comes through with traffic source X, just ignore it, treat it as if it’s a direct entry and attribute it to their last known source, if there is one” That section is called “Referral Exclusion” in Universal Analytics (GA3) and you will find it in the Admin section under your Property settings > Tracking Info > Referral Exclusion List. Finding it in GA4 is a bit trickier and requires Going through Property > Data Streams > Web > Clicking the relevant Stream > Configure Tag > Show All > List Unwanted Referrals (Follow this guide from Google) Once there all you need to do add another record and add "shop.app" as the name of domain that Google needs to ignore. Voila! That’s it, no more shop.app in your data. What about other payment methods? Shop.app is not the only express checkout method Shopify offers merchants. Other payment options such as Apple Pay, Amazon Pay and Google Pay are also usually available. Other apps also modify Shopify's checkout while breaking the users' sessions- Recharge, Afterpay etc. These other checkout methods will create a similar issue with your data (although Shop App is the most popular of them all). To avoid similar attribution issues in your data, you can add the following domains to your Referral exclusion lists: paypal.compay.google.com apple.comportal.afterpay.comapay-us.amazon.comcheckout.recharge.comcheckout.shopify.com Can someone help me fix it? I know. It's a lot. If all of the above was too much for you, we can help you set this up, feel free to book some time that works for you!
Google analyticsHow to Connect Your Shopify Store’s Google Analytics to BlypSo you downloaded Blyp, and now you're ready to conquer the world of data analytics like the top ecommerce dogs. Right on! Before you start enjoying Blyp's insights, I recommend you connect all your Google Analytics accounts. Why is it so important? Google Analytics provides a unique view of how your prospects and customers interact with your website. This is information that you can’t really get anywhere else. And when set up properly, it’s a crucial piece of the puzzle that enables you to optimize all aspects of your ecommerce business (traffic channels, store UI, merchandise mix, etc.). Let's do it together in 5 simple steps: Step 1: Connect Google Analytics There are 2 ways to connect your Google Analytics account with Blyp: Option #1 - Connect Google Analytics after installing Blyp On the Connect your data step, select the Google Analytics component and click Connect data: If you went through the onboarding without connecting GA, you can complete it at any time. Option #2 - Connect Google Analytics from the Blyp app Once in the app, go to your personal details menu and click Integrations. Once on the integration page, go to the Google Analytics component and click Connect now: Step 2: Connect Your Google Account Click Connect Google Analytics. A permissions window pops up, suggesting enabling Blyp to edit management entities and use GA data. The more GA permissions Blyp gets, the richer and more concise the insights we can send you. Important to know: We do not use your store data for anything other than analyzing it. Also, Blyp is a 100% offline app, so our data-crunching won’t affect your site’s speed or performance. Now, click Connect and move to the next phase. Select the account to which the correct Google Analytics property is connected. Now you'll get to this page which asks you whether you allow blyp to edit your Google Analytics management entities and see and download your data: Click Allow and move to the next step. Step 3: Select Google Analytics Account Here you'll find the default Google Analytics account that is associated with your Shopify store listed below: If it's the right one, simply click Next. If not, choose a different Google Analytics account and click Next. If the correct Google Analytics account is not listed, an error message will pop up. Why? Your Google Analytics account might be associated with a different Google account. Simply go back to step 2 and select the correct account. Didn't work? No worries. Contact us, and we will solve it for you 🤓 Step 4: Select the Account Property for our Google Analytics Account Here you'll find the default property that is associated with your Shopify store listed below: If this is the right one, simply click Next. If not, select a different property and click Next. If the correct property account is not listed, an error message will pop up. Why? You most probably need to select a different Google Analytics account. Simply go back to step 3 and select the right one. Again, if you're having trouble connecting the correct property, we're just a click away. Contact us. Step 5: Select Property View A view is simply another layer to look at your data. It enables you to define filters, goals, or any other customization you may need. In fact, when you connect Blyp to your Google Analytics, a Blyp View is automatically created. This view is configured to help run your store analysis. Click Select view, choose the right view in the drop-down below, and click Next: If the correct property view is not listed, an error message will pop up. Why? You most probably need to select a different property. Simply go back to step 4 and select the right one. Have trouble finding the right property? You guessed it :) Contact us for help. And that's it! You're done. Let Blyp Analyze Everything for You Using multiple tools, interfaces, and Shopify apps is far from ideal... We know. That’s why Blyp is designed to monitor and analyze everything, everywhere. Want to connect Blyp to any other tools? Schedule a 1:1 with our architects, and let's start blyping.
AnalyticsHow to Use Shopify Automated Reports to Boost Efficiency Shopify Reports provide users with a variety of automated reports to analyze conversion rate, average order value, revenue per customer, and other e-commerce metrics to boost sales. You may feel overwhelmed by the amount of information e-commerce reporting and analytics provide. Therefore, this post discusses essential Shopify automated reports and their uses to help you boost your store's efficiency. 7 Essential Shopify Automated Reports for Efficiency-Related Insights The importance of e-commerce performance reporting is vital to analyzing the success of your shop and marketing activities. Shopify Customer Report Customer reports provide insight into your customers' behavior and preferences that can help you make better decisions about your products and services, identify trends within your customer base, and analyze the effectiveness of your marketing campaigns. You can generate the following types of customer reports: Customers over timeFirst-time vs returning customer salesCustomers by location Shopify Inventory Report One of the most important aspects of running a successful business is maintaining accurate inventory records. You need to keep tabs on inventory levels, turnover rates, and best-sellers to maximize profits. To save money on stock, run more successful promotions and discounts, and keep better books, establish a routine to regularly check the following inventory reports: Sell-through rate by productABC analysis by productPercent of inventory soldDays of inventory remainingMonth-end inventory snapshotMonth-end inventory value Shopify KPI Report For many small businesses, tracking key performance indicators (KPIs) is a crucial part of running a successful online shop. With the help of Shopify KPI reports, you can easily access detailed information about your most important metrics, such as conversion rates, average order value, and store traffic, equipping you to make data-driven decisions. Shopify Order Report Shopify Order Reports help you to analyze your sales performance, including shipment data, fulfillment information, and customer feedback. You can see how many times each item was shipped, what items customers returned, and much more. This report gives you insights into your order volume, shipments, fulfillment, shipping, deliveries, and returns. Shopify Sales Report If you want to know if your retail outlets are profitable, the easiest method to find out is to keep a close watch on sales. Do you need to make adjustments to ensure you reach your monthly sales goals, or are they functioning as expected? Examine the following sales data to gain an accurate picture of how your business(es) and employees are doing: Sales by channelAverage order value over timeSales by billing locationRetail sales by staff at register Shopify Retail Sales Report Apart from general sales, keeping track of each product's and store's sales is also important for retailers. This allows you to determine which items sell well and where you can make improvements. The retail reports provide insight into how much inventory you're ordering versus what you're selling when combined with your inventory data. Your overall sales volume can even help you determine what products are bestsellers. Get data on: Retail sales by point-of-sale locationRetail sales by product typeRetail sales by product variant SKU number Shopify Shipping Report With the shipping report, you'll be able to see what percentage of items shipped via each method, calculate the cost of delivery per item, and export your shipments as .csv files. This allows you to easily identify trends over time and compare different options. How to Analyze Shopify Automated Reports When conducting your analysis, make sure you know what information you want from your data. It can become overwhelming just to absorb volumes of data without adding meaning to it. You won't be able to implement the results of your analysis because there isn't a purpose to it. Analyzing reports also isn't just a once-off exercise. It's a continuous process that will enable you to keep on improving your store. Whether customer behavior and trends change, technology updates, or products and services diversify, data from analyzing reports can help you adjust. Conclusion Shopify sellers use e-commerce analytics to boost sales and to guide their e-commerce dashboards so essential information is available at a glance. Shopify automated reports especially can help you identify shortcomings in your business and enable you to implement effective measures that will drive efficiency.
AnalyticsThe 5 Different Types of Business Reports ExplainedRegardless of the size of your business, the insights gained from business reports are invaluable as they provide an understanding of what's working in your business and what needs improvement. Business reports provide metrics that can be used to plan future marketing campaigns, analyze profit, guide budgeting, and help forecast future developments. Statutory vs. Non-Statutory Reports Statutory reports are mandatory reports containing both financial and non-financial information that a company must submit to a government or concerned agency. Some examples include annual returns, auditors' reports, and the directors’ reports to the annual general meeting. On the other hand, non-statutory reports are not required by law and are usually created to assist the directors and executives of a business in their future decision-making. Some examples include directors' reports to shareholders and reports of individual offices in a business. Different Kinds of Business Reports There are various types of business reports that can provide insight into your company. The following are 5 reports you don't want to skip. 1. Informational Report Informational reports are created to provide data, facts, and feedback in an organized manner without analysis or recommendations. Informational reports can be used to produce decision-making reports, policy reports, and compliance reports. 2. Analytical Report Analytical reports, similar to informational reports, provide data, facts, and feedback. However, analytical reports also include analysis, interpretation, and recommendations related to the represented data. For example, a CMO could use an analytical report to identify specific issues caused by current global factors. 3. Research Report Research reports are one of the most comprehensive. These reports are created by a team of specialists when a business sets out on a new endeavor, such as expanding into new territories or launching new products. The reports contain important statistics and details obtained from other specific reports as well as a detailed analysis of the findings. 4. Explanatory Report An explanatory report is used to explain and elaborate on a topic or situation in an easy-to-digest way. An explanatory report is an opportunity to explain your results, give a reason for your research, provide your methodology, and provide samples of your findings. 5. Routine Report A routine report is created at regular intervals, usually weekly, fortnightly, monthly, quarterly, and yearly. These reports can be informational with great detail, or in a brief form. Some examples include weekly production reports and monthly sales reports. If You’re an E-commerce Shop Owner E-commerce performance reporting is essential to expanding and maintaining a successful online store. An advanced report builder can help you create customized informational, analytical, and research reports. By analyzing these reports, you'll be able to better forecast the future of your company. Your online store also offers a guide to e-commerce dashboards, which allows you to view your business's metrics at a glance and highlights where action is required.
Cro4 Irresistible Customer Winback Emails (Templates + Examples)Your customers are worth fighting for! When a relationship with a customer is broken, it requires extra attention to mend. By personalizing your approach to each customer, you will achieve optimal results. In this post, we look at 4 win-back email examples that form an essential part of newsletter email marketing for beginners and pros alike. 1. "Hello?" Winback Email A "Hello?" Winback email can be just the refresher your customers need to re-engage with your brand. Customers are reminded why they chose your brand in the first place, so focus on highlighting key benefits, providing value, and thanking them for being part of your brand journey. This is also a good opportunity to make customers aware of your unique selling propositions by showcasing certain products or features that you're proud of. Example: Subject line: A lot has happened since we last saw you… Body: We just wanted to say that we miss you. And that lots have been happening at [insert brand name] lately. Here are a few things you might have missed. [showcase the latest deals, updated features, etc. and include imagery if possible] Email CTA: Take me there! [Links to website/specific shopping page] 2. Incentivized Winback Email A winback email is a great opportunity to offer an incentive, like free shipping, upgrades, or prizes. Incentives don't always have to be discounts. A product incentive can also be effective because it offers something tangible the customer can anticipate. Regardless of the type of incentive, remember to create a sense of urgency that will compel the customer to act fast. Example: Subject Line: [X]% off, exclusively for you! Body: Please come back to our site and our lives—we miss you. So, we did something we don't usually do: we added a discount coupon to an already great deal. This one is especially for you! Make sure to get it before [X] days are up. Email CTA: I want in! [links to shopping page] 3. Winback Email Seeking Customer Feedback Customer reviews are important, because it allows you to better understand why you're losing customers and how to get them back. If you prioritize client satisfaction, a feedback email may be enough to win them back. The information you gain from surveys will improve the customer journey stages. You can also incentivize your customers to engage by offering a discount or gift to fill out a feedback form. Example: Subject Line: What made you go? We'd love to know! Body: Hi [Customer], It's not the same without you. It looks like you haven't been engaging with our emails lately, and we'd love to figure out why. What can we do for you? Email CTA: Let us know what's not working [Links to survey] 4. "Unsubscribe?" Winback Email Don't assume someone has unsubscribed from your mailers because they don't seem interested in receiving them again. If you send a follow-up email within 24 hours of receiving an unsubscribe request, you increase the chances of winning back those customers. Use your unsubscribe message to find out why they left, whether it was intentional (this happens!), and how you can improve their customer experience. Good practice is to include a CTA to re-subscribe or to provide options to customize the frequency of emails. Example: Subject Line: We hate goodbyes Body: Hi [Customer Name]! We noticed you no longer open our emails. We know that things come up in life, so if you want to move on, we won't stand in your way. But, if you don't want to miss out on [customer value proposition], let us know you still want to hear from us. Otherwise, this will be our last email. Email CTA: Keep them coming! Conclusion By utilizing a winback email strategy, you will start attracting repeat customers and re-engaging inactive ones. Other email templates to consider include "just checking in", "special occasion" such as introducing e-commerce customer loyalty programs or informing customers of flash sales, and "FOMO" templates.