After we have completed the biggest time of the year for our industry, it’s important to review a couple reports that are key to gaining insight to your holiday performance. Below you will find 5 reports you can locate in pretty much any analytics tool as well as some questions to get the ideas rolling. By examining these 5 reports, you will have a better understanding of your business as well as jumpstart on next year.
Trend traffic and sales
Identify your spikes. When did your customers come to the site and when did they convert? Many managers tend to follow the trend of the industry or something they saw, but many brands may be counter-intuitive. It’s your job to identify your customer’s behavior and then shape strategy around them. Some brands perform better on Black Friday, while others perform on Cyber Monday. For some brands, customers come in weeks ahead of time to add items to their cart and then simply convert when the deal hits. In this case, you need to inform your customers about deals when they are coming to the site. Others may be drawn from a promotional email, this means you will need to grow your list size all year to bolster holiday sales.
Along with number one, break out your New and Repeat visitors and compare them to the previous year. Identify when they come to the site and what channels these customers prefer and where they convert. You will also want to take a look at breaking out churn rate (customers who purchased last year but didn’t purchase this year). You can take it a step further and look at churn rate by acquisition year, time period, or channel to really impress the higher ups.
Review your marketing channel mix. What channels brought in customers? Which channels retained previous customers? Which Channels converted customers? Are there any channels we want to add? Are there any channels that are holiday specific? Any channels that perform exceptionally well during the holiday season? How much did we spend on each channel? With this information, you will be able to review your budget and start planning for the next year to be even more effective!
Review any promotions that were run. Were they successful? Did you meet your goals in your KPI’s? I like to create a timeline of when promotions started and how long they were live. After such, I will add a slide of each key campaign’s performance and some options we could test for next year.
Lastly review the perpetually hot topic, mobile. Mobile continues to increase in popularity as both customers adopt mobile shopping and Google continues to push it in the industry. Review how your site changed on the year. Did your mobile percentage increase? Did the channel increase in size? Were there any specific mobile projects that were initiated this year? What is conversion rate like? Specifically take a look at email and search to see how mobile interacted with these channels.
There you have it 5 reports that will get you going on your holiday reporting! Remember holiday is a great time to prove your value by analyzing what just occurred, but don’t be afraid to point to the future, as your results should be shaping strategy for 2017!