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Revenue Insights: Unlocking Profit Potential
Introduction
Track key metrics like Total Revenue, Total Orders, and Average Order Value to understand your earnings and sales patterns. Analyze the Purchase Journey to see how customers buy and identify Top Selling Products to optimize your inventory and marketing.
In this Article
Total Revenue
Total Revenue refers to the overall income generated by a business from all its sales activities from mobile apps within a specific period.
Why is it important?
Tracking total revenue helps businesses understand their income stream, and measure growth over time.
Total Orders
Total Orders represent the total number of orders placed by customers through the mobile app within a specific period.
Why is it important?
Monitoring total orders allows businesses to track demand trends, assess customer purchasing behavior, and identify growth opportunities.
Average Order Value
The Average Order Value represents the average amount of revenue generated by each order placed through the mobile app. It is the average amount of money spent by customers per order.
Why is it important?
AOV provides insights into customer spending habits and purchasing patterns. By analyzing AOV, businesses can identify opportunities to upsell or cross-sell products, optimize pricing strategies, and increase overall revenue.
Purchase Journey
The Purchase Journey refers to the series of steps or interactions that a customer goes through before making a purchase. It includes various touchpoints such as browsing products, adding items to the cart, and completing the checkout process. It represents the complete process of the user's initial awareness of a product to the final purchase while calculating the conversion rate of each step.
Why is it important?
Understanding the purchase journey helps businesses identify pain points, streamline the buying process, and enhance the overall customer experience. By optimizing the purchase journey, businesses can increase conversion rates and drive more sales.
Top Selling Products
Top-selling products are the items that generate the highest sales volume for a business. Identifying top-selling products allows businesses to focus their marketing efforts and resources on promoting high-demand items. It also helps in inventory management, ensuring that popular products are adequately stocked to meet customer demand.
You can see your Top 25 products that have the maximum number of orders.
Why is it important?
By analyzing top-selling products, businesses can make informed decisions about product assortment, pricing, and marketing strategies, ultimately driving revenue growth.
If you have any questions or need further assistance, feel free to contact us at help@shop2app.com.
Happy selling!