eCommerce Growth Equation – Do The Math
As your business grows, it becomes more important to monitor and analyze your data.
This one equation simplifies your eCommerce financials and allows you to cut through uncertainty so that you can prioritize key financial decisions.
Visitors x Conversion Rate x AOV = Revenue
By focusing on these three variables, you can you assess every way to increase revenue for your eCommerce business.
The key is acting with this information.
Identifying and implementing key financial decisions into your business that increase your bottom line.
The first key step is ensuring that we have clear and actionable data to base our decision on and to calculate our formula.
If these metrics are inaccurate you will make terrible financial decisions.
This requires a proper accounting system.
Then we need to implement financial and business strategies combined with effective marketing campaigns that increase your bottom line.
We need to effectively analyze and interpret this data so that we can make the necessary changes when it comes to pricing, inventory management or other aspects of your operations.
This has to be done on an ongoing basis, at least monthly.
We’re here to partner with you to take your company to the next level!
If you’re ready to take the next step, book your 1-on-1 meeting with me TODAY!