App of the Week: Ecommerce Revenue Equation

Today’s digital marketers are operating in more channels than ever before, combining social media, search, mobile, and other tactics to win customers in a highly competitive marketplace. But while this flexibility allows ecommerce brands to engage their target audiences in a variety of settings, it can also make it difficult for them to measure their effectiveness.

In multi-channel marketing, each buying platform delivers its campaign results in a separate report. As such, many ecommerce firms wind up evaluating each channel’s performance in isolation. Lacking a holistic view of how their marketing mix influences overall revenue growth, these firms have no way of knowing which channels are driving results—and which ones are dragging them down. And if you can’t identify what is and isn’t working, it’s virtually impossible to optimize performance moving forward.

Fortunately, there’s the Ecommerce Revenue Equation Dashboard App, created by Blue Moon Digital for Domo. In just a few clicks, you can see how and why each channel is driving results for your digital business—no more wasted time manually combining data from multiple reports.

Ecommerce Revenue Equation illuminates the key factors influencing your performance.

Ecommerce Revenue Equation Dashboard is a data visualization tool that distills your digital business into a simple formula: Traffic x Conversion Rate x Average Order Value = Revenue. By connecting the app to your various reporting feeds, Ecommerce Revenue Equation allows you to track these four key metrics by channel, device, and visitor type.

With this information in hand, you can easily see how the different parts of your marketing plan have impacted revenue growth over the time period of your choice. Even better, the app’s detailed breakdowns of conversion rate, traffic, and average order value allow you to identify what each channel does best—and which metrics need to be improved—in order to move the needle.

Optimize your marketing strategy in a matter of moments.

The Ecommerce Revenue Equation Dashboard enables you to shift budgets toward your highest-performing channels and tweak your messaging to maximize results.

For instance, if you see that your paid social campaigns are generating a large portion of your revenues, you might decide to increase your investment in that channel. Or, if you find that new visitors are spending more money on your products than returning customers, you could make an effort to shift your targeting toward those users.

The app also allows you to identify roadblocks that are preventing your target customers from converting. For example, you might find that your mobile revenues are suffering due to low conversion rates, even though traffic is through the roof. In that case, you might try smoothing over the path to purchase by making your product pages more user-friendly or altering your targeting to hone in on likely customers.

Indeed, when it comes to ecommerce, knowledge is power. With the information provided by the Ecommerce Revenue Equation app by Blue Moon Digital, you’ll have everything you need to optimize your marketing strategy for the best possible results.

Check out the Domo App Store to get more information about Blue Moon Digital’s Ecommerce Revenue Equation app, as well as hundreds of other custom-built apps.