The Business Health Check digs into your Google Analytics data, email marketing reporting, and online purchase data to give you rich insights into your business trends. eCommerce is hyper competitive, and your business might not actually be sustainable over the long term. To win over the long term, you have to acquire customers at a reasonable cost and ensure that your customer lifetime value exceeds the acquisition cost. The faster you grow average order values, reduce the time between purchases, and increase your margins, the faster you will be profitable, and therefore sustainable.
In the Business Health Check, we look at the core drivers of your revenue so that you can allocate resources more effectively and reach profitability faster. We do this by running data from three sources through our proprietary analytical tools. We start by connecting to your ecommerce platform and pulling your online purchase history so that we can find trends in customer loyalty, latency and lifetime value. We then tap into your Google Analytics to better understand your traffic and revenue across different channels. Lastly, we look at reporting from your email marketing platform.
From this analysis, we build a set of reports and provide key insights that will make you a better business executive. As you gain a clear understanding of your most important sources of revenue, you will be better equipped to decide whether to invest in acquisition or customer retention, and specifically which channels therein.
Note: these are just examples, and yours might be different. Regardless, they'll be tailored to you, and not limited to just these four insights.
One business learned that email accounts for 10% of users, but 20% of Pageviews, Transactions, and Revenue. This means that users who engage with the brand through email are more engaged and more likely to buy, and thus worthy of more significant investments.
Another learned they were overpaying for their brand term in paid search and spending too much for revenue they would likely have gotten from organic search anyway. This allowed them to redirect investments in paid search, which had a 3X ROI, into Windsor Circle, which had an 8X ROI.
One brand learned it was increasing top line revenue despite seeing a decrease in new customer acquisition. Higher AOVs, higher customer lifetime values, and higher customer retention rates drove the increase.
Another brand realized it was not growing a sustainable business because of its reliance on paid search. As paid search revenue decreased, so did top line revenue, and email became its most important channel, growing from 23% of total revenue to 34% of total revenue.
If you’re facing similar questions and looking for a deeper understanding of the health of your online business, shoot us a message to get started. The engagement will take 4 to 6 weeks as we get the data integrations live, do the analysis, and present the results to you. The engagement is a one time cost of $2,500.