September 25, 2020
When it comes to creating a successful store, understanding your metrics is key. It will help you understand what products and campaigns perform well, where your customers are finding you online, and help you make important marketing decisions.
Your main GearLaunch dashboard is a good place to start to get an overview of how your store is performing. You can check for purchase, your profit, store visits, and conversion rates. We are going to break down each area in your campaign stats to help you understand what to look for and how the information will help you create a successful store!
All of your statistical breakdowns live inside the area called ‘campaign stats’ on the left side of your dashboard. In your campaign stats, you’ll find several options for looking at the metrics for your campaigns. You can sort visits, profit, visitors & ratio, your upsells, canceled items, and finally marketing variables for individual campaigns! Sometimes it’s good to break down each part of your campaign so you understand what changes to make and how to increase your revenue with the next one.
In your campaign stats table, choose the period of time you want to see the metrics for your campaigns.
Then, select the box that says ‘Show Profit.’ Your table will adjust and automatically list your most profitable campaign first.
NOTE: Each campaign will have a different conversion rate. An important consideration is when you have a campaign that has fewer sales, but a higher conversion rate, it may be a better campaign to test with more ads. A higher conversion rate often means increased interest in the design and with the right ad set, may be the best for your revenue.
When you click on the campaign itself, you’ll go to a page with even more detailed information. Your conversion rate is a key metric you’ll want to keep an eye on for future campaigns and tells you the percentage of visitors who purchase something from your site. It is an important metric to focus on and you’ll want to spend your advertising dollars on higher performing campaigns.
Conversion rate = number of orders / number of unique visitors
When you are looking at the details on your campaign, you can scroll past the list of variables and find a list of products and Profit Enhancements at the bottom. The products break down how many orders per product or Tshirt style. Profit Enhancements shows which sales promotions performed better.
Understanding which campaign is the most profitable will help you make decisions about your marketing focus and which product or design you want to work on next. If one design stands out with total profit, you may consider running more ads or focusing your next campaign on this design.
‘Visits’ helps you see how many visits, regardless of location, a campaign received. Some marketing variables you may want to consider are:
If there is a large discrepancy between visits and your conversion rate, it may indicate a lack of general interest in your design or a disconnect between your advertisement and the actual offering. It may also help you determine which of your marketing efforts are working and which ones may need some adjustments.
The traffic you are driving to your website is what leads to revenue so understanding the success of a campaign or marketing strategies is essential to increasing your effectiveness. It may also indicate success of your ads or other promotions you are running.
In your dashboard, you will also see a ‘Show Visitors & Ratio’ check box. When you select this box, you may notice there are two different numbers related to your traffic.
While visits are the total number regardless of location, visitors indicate the number of unique visitors no matter how many times they visited your campaign.
Ratio is actually referencing your conversion rate and is the number of orders divided by your unique visitors. You’ll want to focus your efforts on campaigns that are performing better overall. Make a note of everything you are doing differently on campaigns that have high conversion rates. Is your ad copy different? Are you running different promotions? Have you spent more time on email or social strategies?
Your conversion rate tells you a great deal about the success of your marketing efforts, your design, the products you choose, and more. It is important to take the time to understand which ad is performing the best and which ads to turn off. You don’t need a huge budget to start driving traffic that converts when you consistently monitor your campaigns.
When you click ‘Show Upsells,’ you’ll find information about the items you chose to include in your campaigns and which upsells were successful.
If you had an upsell with zero sales, you may need to reconsider which products or designs you are using in your upsell strategy.
Upsells can increase the number of items per order and with the right products, designs, and strategy, you’ll find yourself selling more items and increasing your overall revenue. Test your upsell strategy with a variety of products and designs and see which ones perform the best.
If you had any cancellations, they will show in the ‘Canceled Items’ column.
These are items or orders that customers have cancelled after the initial order payment.
There could be a variety of reasons why customers cancel their orders but the most common reasons are errors in the design or a change of heart. While there isn’t much you can do if a customer simply changes their mind, you do need to watch for high rates of cancellations on an individual design and investigate! It could be something as simple as a cut off design that needs adjustment, typos in the text, or other graphic issues. Updating the design can help stop the cancellations.
Your marketing variables are an incredibly important metric to track. It tells you what you need to know about your traffic, such as which ads perform best, which social platform is effective, and what product is the most interesting to your audience.
The marketing variables list can be overwhelming when you first look at them. Think of each link as a different URL driving traffic to your store. When you go to your ‘Advertise’ tab, you will be able to create your own URL with variables to allow you to track the number of visits and orders for that specific URL.
For example, if you want to share your campaign on your Facebook page and track how many visitors come from Facebook, you can go to the URL in your GearLaunch dashboard and enter the key as ‘fb1’ with a value of ‘1’ and share the URL with that parameter on your page. Then, you can go track your traffic in your dashboard and see how many visits and orders that variable produced. You can set the variable name and value to anything you want to help you track your campaigns.
NOTE: The name (key) must be 3 or more characters long. If you use a separate advertising platform they will often provide those variables for you which you can track in your GearLaunch dashboard.
Understanding your traffic is ultimately the key to your marketing efforts. It helps you understand your audience, understand which ads to run, what marketing efforts aren’t working, and what marketing efforts are the most successful. As you watch your traffic over time, you’ll be able to make better decisions for your business and find success with your print on demand store.
Marketing can be challenging, but when you take the time to understand the metrics in your GearLaunch dashboard, you’ll find it is the key to your success!