Which eCommerce metrics should you use to grow your business?
Add To Cart Podcast
In this episode of Add To Cart, we are joined by Josh Newport from Shopify Plus to discuss the best growth metrics for your eCommerce growth.
🎧 LISTEN TO THE EPISODE HERE:
Questions answered in this episode include…
- What is considered a healthy growth rate for an eCommerce business?
- How do you balance profitability along with revenue growth?
- What is customer lifetime value and how do you measure it?
- How do you decide which metrics are right for your business and how do you report on them?
🔥 HOT TIP
Josh’s most basic calculation of Customer Lifetime Value looks like this…
AOV x Customer Purchase Frequency Per Year x % Margin = CLV
Regardless of the calculation, the key is keeping the measurement consistent over time!
🔗 Links from the episode
- Australia Post’s Inside Australian Shopping 2019 report
- Google Data Studio
- Some of the retailers we mention include Allbirds, Koala, Walmart and BCF
About your co-host
Josh Newport leads Merchant Engagement for Shopify Plus in the Asia Pacific region, working with some of the largest brands on the platform. Josh has previously led digital strategy in agencies and advised clients across marketing, search and social.
You can contact Josh on LinkedIn.
This episode was brought to you by…
Download the Shopify Plus Holiday Pre-Season Playbook today.