Testing & Analytics - Page № 2
The key to automating business processes is using marketing metrics. Metrics of marketing are numbers that reflect the current state of a company and the effectiveness of its activities. Usually, their calculation is straightforward, sometimes even intuitive. But, the interpretation and ways to use these metrics may not be as obvious. In this article, we will tell you which metrics you should track, their advantages and practical use difficulties, and how to combine metrics for your company effectively. What are...
The customer retention rate formula allows you to determine how effectively a company works with its existing customer base. By calculating key loyalty indicators, you can optimize your marketing strategy, increase resource usage efficiency, and choose new promising areas of business development. In this article, we will tell you how to get the main customer retention metrics, what they affect, and what benchmarks should be your reference values. What is the Customer Retention Rate Customer retention rate is the relative...
In today's information-rich business environment, it is important to use data-driven marketing techniques for successful growth. Analysis of big data volumes allows companies to study their customers, understand their needs, and create convenient and personalized products or services. Data-driven marketing helps to effectively direct advertising efforts and brings innovations to the strategic decision-making process. In this article, we'll consider the main ideas and benefits of using data-driven marketing techniques to increase the competitiveness of your e-commerce business. What is Data-Driven...
The churn rate in the SaaS industry is one of the key metrics for companies that provide subscription-based services with regular payments. By calculating it, you can understand how many users refuse your product for a definite reason and develop a strategy for retaining them. Today, we will explain what the SaaS churn rate is, how it is measured, what it should be, and how to optimize this indicator. SaaS Churn Rate Definition The churn rate for SaaS is the...
A bounce rate for email will help you analyze the effectiveness of your mailings. It will show what percentage of recipients did not receive or could not access the company's marketing materials. By reducing the bounce rate, you can increase the conversion rate and return on advertising, ultimately leading to better financial results. We will explain in detail what email bounce rate is and why it is important for businesses. The article also provides examples of strategies you can use...
Using built-in analytics functionality or an external service, you can track Shopify KPIs to measure the effectiveness of your business. Using these indicators is easy — the main challenge is choosing the right metrics and integrating them into an interconnected system. In this article, we'll explain what KPIs are, why they're so important, and what indicators you need to monitor your business performance. What are KPIs KPIs on Shopify and other eCommerce platforms are key performance indicators. These quantitative metrics...
Customer lifetime value indicators are used in marketing to plan business development, optimize customer relationships, develop loyalty programs, and more. They can be ambiguous and difficult to calculate, but they can help you improve the accuracy and efficiency of analytics. We will explain in detail what these metrics are, why they are so important, and how you can improve them. What is Customer Lifetime Value (CLV) Customer lifetime value is an expected profit that a business can get from a...
Shopify is a prominent sales platform worth considering if you aim to establish a robust online storefront. As per Statista's data from 2021, it holds substantial popularity among American users. Thriving on any e-commerce platform, Shopify included, requires formulating clear objectives and strategic plans. In addition, you need to utilize top-tier tools and engage highly skilled professionals. A careful review of successful Shopify stores will reveal their meticulously crafted designs and deep commitment to customer satisfaction. Every detail is planned...
Spin-to-win pop-ups, spin-a-sale, lucky spin, wheel pop-ups, or simply wheels — people call this type of on-site ad in many ways. But regardless of the name, the truth is that these pop-ups work! The spin the wheel pop-up concept became popular after “Wheel of Fortune”, a popular American game show, aired. Brands and marketers quickly picked up on this idea and implemented it in their communication with the audience. So far, website visitors have hardly resisted the temptation to spin...