James Dunford Wood

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Ecommerce Customer Metrics, and How Marketers Can Move Them

Posted by James Dunford Wood 19 Apr 17

key customer metrics for ecommerce marketers Two of the most common questions I get asked by online retailers I work with are:

“What customer metrics should I be tracking?”

“Which ones should I be looking to influence?”

Typically most ecommerce managers and digital marketing managers will be tracking top line metrics like revenue per marketing channel and conversion rate, but it is surprising that the ones who are tracking metrics such as repeat rate, new customer revenue and time to second purchase are still in a minority.

These are all crucial metrics to be looking at, and if you can optimise them the long term health of your business can be greatly enhanced.

So let’s break them down.

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Topics: Ecommerce metrics, Ecommerce customer retention, Ecommerce marketing tips, Ecommerce customer acquisition, ecommerce welcome email

9 Customer Metrics Every Ecommerce Marketer Should Know

Posted by James Dunford Wood 25 Jul 16

customer metrics in ecommerce marketing Every ecommerce retailer needs to know where their business is headed. Whether it’s for investors or bank loans or planning future marketing initiatives, knowing what levers to pull to grow your business is key information that every retailer should have.

Of course there are always curveballs that you can’t predict, external events that you cannot control - political instability in your overseas markets, for example, or a recession at home. But for those business drivers that you do control, it’s critical that management can track the metrics that can tell them where they are going - not just where they have been.

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How a Simple 'Thank You' Can Increase the Value of Holiday Shoppers

Posted by James Dunford Wood 9 Nov 15

Trying to get your ten year old to write a thank you letter these days is like pulling hens teeth.

'Dad, no one writes letters these days, didn't you know? I've texted!'.

Sorry, not good enough (I'll come back to this later!).

As we gear up for the holiday season in the ecommerce world, retailers take it for granted that they will get an influx of new customers shopping with them for the first time. Looking at the data over the past three or four years, the spikes are obvious.

But getting them is one thing, keeping them is quite another. Recently, for example, we ran some analysis to try and understand how the long time value and longevity of customers acquired in holiday seasons varied from the norm.

Running a cohort analysis on individual retailers, we've seen again and again that for many retailers the customers acquired in November and December repeat less often, spend less, and lapse more frequently than customers acquired at other times of the year.

So we looked at the data across a range of fashion retailers, and this is what we came up with:

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Topics: Ecommerce metrics

The Single Customer View: Pipe Dream or Reality?

Posted by James Dunford Wood 10 Sep 15

If you'd like a more detailed overview of the single customer view in ecommerce, check out our guide which you can read by clicking here.

Single customer view is a phrase that you hear all the time at conferences, and even more frequently in sales pitches. But what does it mean? Achieving it is not as easy as it is made to appear.

Essentially, having a single customer view means having a single profile where all the touch points with an individual customer can be recorded, analysed and leveraged for more personalised marketing.

It can contain more or less information about a customer, but the key point is that it merges information from two main sources - contact information, and engagement channel (including device). Let's look at them in turn.

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Topics: Ecommerce marketing tips

The Great Repeat Rate Myth: Adventures in Retention Rate Analysis

Posted by James Dunford Wood 29 May 15

shutterstock_234083266As every ecommerce manager knows, it’s way cheaper to get a customer to shop again than to acquire them in the first place.

Figures vary, from 5 times to 10 times, and it’s a stat ecommerce people love to repeat, along with the numbers of repeat shoppers they have.

But it’s a lazy statistic, that can encourage lazy analysis. Let me explain.

It’s certainly true that getting one-time customers to come back and purchase again is the key challenge for the online retailer, and they like to give themselves a pat on the back when their repeat rates are healthy.

However, repeat rates can be misleading.

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Topics: Ecommerce customer retention

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