Exceptional customer support . Your customers will have issues and concerns that they need help with when using your products on hold. As an eCommerce store, you need an awesome customer support team to handle those challenges anytime they arise. If your customers have a problem and you can’t help them, they’ll try other businesses and you’ll end up losing a lot of revenue and the trust of those customers.
Choose the right eCommerce platform . For your business to run effectively, you need to host it on a platform with the right features. Features like ease of use, integration with other tools, security, and mobile-friendliness. For example, here are some security seals you should consider.
verified
Monthly Recurring Revenue (MRR) This is the monthly sale and revenue you earn from your eCommerce store. This is the total revenue from all your business subscribers for the various products they brought from your store within a month.
Customer Retention Rate – Not every customer you hire and azerbaijan whatsapp number database use your company’s products does so for a long time. This metric measures the number of customers who stay with your company and use your products over a given period. It is given as a percentage of the total number of customers. Here’s how to calculate the metric.
CRR
Customer Acquisition Cost – This represents the resources you use to convert a lead into a customer for your eCommerce products. The expenses you incur to nurture the lead through the buyer’s journey and get them to become a customer. Here’s how you can calculate your Customer Acquisition Cost metric.
CAC
Average Revenue Per Customer – If you offer products at different price points, it can be difficult to know the exact purchases made by each customer. To find these metrics, divide MRR by number of customers.
Annual Recurring Revenue – This is how much revenue your brand earns after one year from the sale of your products. With this metric, you can forecast the consumption of your products in the market and adjust to ensure continued revenue growth. This metric divides total revenue by the number of years the customer has been consistently using your company’s products.
Do you want to increase your e-commerce brand's revenue?
In the ever-changing e-commerce landscape, brands need to be flexible and embrace the latest and greatest trends to serve customers well and increase their revenue. If you haven’t implemented a subscription model for your e-commerce, it’s essential that you do so.