Analyzing your store is essential to understand your performance, identify areas for improvement, and activate new growth levers.
This analysis helps you to:
Identify development opportunities
Strengthen customer retention
Increase customer lifetime value
Analysis of your current market
Before thinking about expansion, it’s important to understand your current business. You can run this analysis from your Google Analytics account.
Best-selling products: Identify which items generate the most revenue or orders. This helps you understand what really appeals to your customers.
Customer profile: Analyze your customer base by age, gender, location, etc. Export your customer data to better understand your audience and adapt your communication and offers accordingly.
Traffic and sales analysis: Look at the geographic distribution of your sales to see where your business performs best. Also analyze your most effective traffic sources: social media, Google, email, etc.
Expanding your market
To grow your business, you need to attract new customers or expand your presence.
Optimize your current visibility: Work on your SEO to improve your visibility in search engines. Analyze your current advertising campaigns to adjust your investments and improve profitability. Lastly, make sure all your sales channels are fully optimized to maximize results.
Explore new markets: Consider going multilingual or expanding internationally based on the potential identified in certain countries or regions.
Diversify your sales channels: Sell on marketplaces, set up pop-up stores, or explore physical retail options.
Build partnerships: Collaborate with other brands, influencers, or launch an affiliate program.
Customer retention
Retaining customers is more cost-effective than acquiring new ones.
Analyze your current retention: Measure your recurrent customer rate and evaluate how well your loyalty program aligns with your business.
Improve the customer experience: Offer responsive, high-quality support to build satisfaction and trust. Highlight customer reviews to reassure and convince. Personalize the experience with thoughtful touches like gifts, targeted emails, or offers tailored to customer behavior and preferences.
Engage your community: Launch private sales, VIP offers, special events, or referral programs.
Increasing customer value
Analyze your average basket size: Understand your current average order value and explore ways to improve it.
Activate the right levers: Increase order value through upselling and cross-selling by offering complementary products or bundles. Provide exclusive perks for your VIP customers, and re-engage inactive customers with targeted emails, SMS, or special offers.
Optimize the purchase journey: Work on improving your sales funnel. Identify friction points, such as cart abandonment. Implement corrective actions like email reminders or limited-time offers. Also ensure your checkout process is simple, fast, and secure to boost conversions.
💬 Feel free to contact your Business Coaches if you have any questions!