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Zahn Brazil | Shopify Expert


🛍 Helping you grow your Shopify Business 🛍 www.theindiecollab.com

Most business owners spend too much time trying to find more traffic but if you want to make more money, you need to focus on these three things first

Conversion Rate:

Conversion Rate is your marketing litmus test! It's the percentage of visitors who take a specific action, be it a purchase, sign-up, or more.
Why it matters:
* 🚀 Measures campaign and website performance.
* 💯 Reflects audience engagement and intent.
* 🧐 Guides optimisation efforts.

Conversion Rate = (Number of Conversions) / (Total Number of Visitors) x 100%

Average Order Value (AOV):

Average Order Value (AOV) is your golden number in e-commerce. It tells you how much customers spend on average per transaction.

Why it matters:
* 📊 Measures transaction value and revenue.
* 📈 Guides upselling and cross-selling strategies.
* 💡 Enhances overall profitability.

Calculate it with:
AOV = Total Revenue / Number of Orders

LTV, or Customer Lifetime Value, is your secret weapon in business. It's the total revenue you can expect from a single customer over their entire journey with you.

Why it matters:
* 📈 Measures long-term customer value.
* 📊 Guides marketing and retention strategies.
* 💡 Helps assess ROI on customer acquisition efforts.

Calculate it with:
LTV = (Average Purchase Value) x (Average Purchase Frequency) x (Average Customer Lifespan)
Know your LTV, and you'll discover the goldmine within your customer base!

Once you have mastered these three you can confidently start focusing on driving more traffic (visitors) to your website.

#ecommerce #shopify #shopifytips #marketinggoals #conversionrateoptimization
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