Building loyalty is essential for sustained success in eCommerce. Customer lifetime value is 10-15 times higher than what companies spend on acquiring new customers, and customer loyalty can be strengthened with sales nudges that build long-term relationships.
Finding and retaining customers is key for long-term success in the eCommerce world. 80% of future revenue comes from 20% of current customers, so building customer loyalty is essential. Shopify stores have a built-in analytics tool called Insights that can help to understand the business and personalize the customer experience. Treating customers like royalty and utilizing technology to boost their experience are important for customer loyalty.
It can be difficult to reach the top of the eCommerce world, but all it takes is a few tips and tricks from this guide.
What Are Shopify Data Analytics?
Shopify analytics can help you understand how your customers are using your store, and it can also point out problems that might be keeping them from spending more money.
When it comes to eCommerce store owners, there are two types of people: those who use Shopify analytics and those who don’t.
If you’re not using Shopify analytics yet, you may want to consider it. If you’ve already been using Shopify analytics, then you probably know what a valuable tool it is. Here are some ways that you can use Shopify analytics to boost customer loyalty.
-Viewing sales by channel over time
-Cross-selling related products
-Optimizing product pages for conversions
Different Types Of Shopify Reports And Metrics?
Shopify analytics is a tool that helps businesses gain insights into their customers to improve their business. It provides reports to better understand customer needs, interests, and behaviors.
Shopify reports offer several different types of metrics that can help you gain deeper insight into your business:
Orders: order data includes metrics such as a number of orders, average order value, and total revenue. This data can help you identify trends in your business over time.
Customer activity: metrics such as conversion rate show how many customers complete an action on your store compared to how many visitors it has in a given period of time. For example, if 50% of visitors make a purchase from your store and 100 people visit your store every day, then by using the conversion ratio (the percentage of visitors who made a purchase), you can determine that 20 people made purchases from your store each day (100 visitors x 20%).
Sales channels: metrics such as external traffic show where most visitors are coming from and whether most sales come from online or offline channels like search engines or social media sites like Facebook or Twitter.
How Do You Measure Customer Loyalty?
Customer loyalty is a key indicator of business success. It’s also one of the most important metrics you can track with Shopify analytics.
The first step in measuring customer loyalty is to define what it is. Customer loyalty can be thought of as the strength of your relationship with your customers, and how likely they are to buy from you again.
There are a number of ways to measure customer loyalty, including:
Customer retention rate — the percentage of customers who come back and make another purchase within a certain period.
Average order value — how much each customer spends on average over time.
Net promoter score (NPS) — a measure of how likely your customers would recommend your business to others; the higher the score, the better.
Churn rate — how quickly people stop buying from you; lower numbers are better here, too.
How Can FlashBox Same-Day Delivery Help With My Shopify Store?
If you’re looking to boost customer loyalty and upsell, then Shopify is your best bet.
According to a study by the National Retail Federation, online shoppers are more likely to spend more money on a purchase if they can choose when it will be delivered.
Almost two-thirds of respondents said that same-day delivery would increase their likelihood of making a purchase from a retailer, while 72 percent said they would buy more often from an eCommerce site if it offered same-day shipping.
With Shopify’s FlashBox Same Day Delivery service, you can offer your customers what they want: instant gratification. With FlashBox Same-day delivery, you can track orders in real-time and make sure that your customers receive their purchases quickly and easily. Upselling and boosting customer loyalty has never been easier – try out FlashBox today!