Could you be one smart data-driven decision away from doubling or tripling revenue?
How can data visualization help my business?
Most companies have tried out some sort of data visualization or dashboarding solution. And lots of those companies feel like they have not gotten their money’s worth.
In this video, we sat down with Alex Brown to talk about how to: grow your eCommerce revenue now, increase lifetime customer value, and have accurate data you can trust.
As we discussed in the video, we came up with a refined list of KPIs that every eCommerce company SHOULD have insights into, but most don’t.
We built this “command center” that combines your top of funnel marketing efforts with your entire customer purchasing journey, so that you can see patterns and anomalies otherwise unknown to you, like:
Which marketing efforts are yielding the highest 30, 60 or 90 day LTV?
Which affiliates are bringing you customers who come back and purchase again and again?
What funnels are yielding the highest or lowest customer retention rates?
Knowing the accurate LTV of your customers is crucial for exponentially growing your eCommerce business.
Once you know how much you make per customer and how long it takes you to collect that money from each customer, you can adjust your budget to acquire them.
We had a client that grew from 15 leads per day to 350 leads per day using just this one metric. Check out their story: Praxis Metrics Case Study – Danette May
Knowing the LTV of your customers allows you to answer a litany of business questions.
This dashboard gives you the EXACT insights into what your customer is worth at 30, 60, and 90-days. In addition to this, it also answers several other business questions you are probably already asking; but aren’t getting instant answers to, such as:
What variables in my business and my marketing efforts yield higher LTVs?
Does customer LTV change when customers based off their traffic source? Does it change based off what product they purchased first?
Are my marketing efforts increasing my LTVs, or making them worse?
What products are people coming back to purchase after their initial sale?
How many customers are repurchasing from us, and when can I expect that revenue?
Am I speeding up my customer’s journey to purchase? Is it somehow slowing down over time?
Who are my best customers? Where did they come from and what are their purchasing behaviors?
How much revenue am I getting from different products?
How’s this month’s revenue compare to the same month last year, or last month?
This is just one of several pre-built dashboards that we have ready for your business. Our platform integrates with thousands of analytics tools to help you get the most out of your data.
Do you want to learn more about this pre-built LTV revenue and subscription dashboard?
Be sure to watch our more in-depth video and apply to see if you qualify for this awesome dashboard then schedule a call with a Praxis Metrics data expert.