- 7. Maximize Your Store's Profit
- Periodic Store Reviews
Periodic Store Reviews
HIGHLIGHTS:
- Periodically, you should review your store's key metrics and analyze its performance and profitability
- Using A/B split testing, you can systematically improve your site over time
- A/B split testing is as simple as this:
- Analyze your store's key metrics
- Make a small change to your site that you think will improve its conversion rate and profitability
- Analyze your store's key metrics again, comparing them to the key metrics before you made the change
- Keep changes that improved your store's conversion rate and profitability; revert back when changes you made hurt your conversion rate and profitability
- Repeat this process over and over again
- Key statistics and metrics to consider when doing your periodic review:
- Unique visitors - the number of people (including both free and paid visitors) who came to your store
- Conversions - the number of sales you made (i.e. the number of visitors you "converted" into paying customers)
- Conversion rate - the percentage of visitors who placed an order (i.e. conversions divided by visitors)
- Profit - the total amount of profit generated from all sales during the period
- Profit per order - the amount of profit you made on the "average" order (i.e. profit divided by conversions)
- Value per visitor - the amount of profit you made, on average, per visitor who came to your store (i.e. profit divided by unique visitors) - compare this number to your average cost per click to verify whether your paid advertising campaigns are profitable and worthwhile
- You should perform a store review at least once a month
- The Profit Maximizer in the SEO Toolkit makes it easy to do this periodic store review and perform A/B split testing
Video Q&A
Login or create a free account to ask a question
No public Q&A yet. Be the first to ask a question about this training video...
Tweet