You may have read about Magento’s acquisition of RJMetrcis, to be incorporated into Magento as Magento Analytics. Well, Magento hasn’t wasted much time in getting the show on road.
The Magento Analytics Holiday Dashboard provides a suite of reports to help merchants make smarter decisions before, during, and after the holiday season – a period of time that can sometimes see ecommerce websites not make the most of their additional customer base.
The Christmas period is an exciting time, full of brand new customers, peaked sales and opportunity. But it usually goes by at the blink of an eye, faster than most merchants can keep up with. Thus lies the inspiration behind Holiday Dashboard – to help make sense of the Christmas chaos, to maximize the opportunities for conversion and sales during the most profitable period for many ecommerce businesses.
Here are some of the facts that have inspired Holiday Dashboard:
- Retailers acquire as much as 59% more customers per day during the holiday season
- Holiday customers are less valuable by about 13% on average
- 39% of holiday shoppers that make a 2nd purchase do so in the same holiday season
- Holiday-sensitive retail categories generate 24% of their annual revenue from holiday customers
It is therefore critical for merchants to have access to the most relevant data and insights to allow them to know their customers better, and how to best serve and market to them in the brief period of time available.
“The holiday season represents a tremendous customer acquisition and growth opportunity for merchants but if they are not keeping an eye on the right data, they can get caught up in the hype and negatively impact gross margins,” stated Bob Moore, Head of Magento Analytics. “With the Magento Holiday Dashboard, we’ve made it easier than ever for merchants to deploy data-driven strategies to grow their business before, during, and well beyond the holiday season.”
The Holiday Dashboard is designed to help merchants:
- Find the acquisition channels that attract the most valuable holiday customers
- Reactivate existing customers with targeted holiday promotions
- Keep your team focused on centralised goals during the busiest time of the year
- Compare your holiday performance against industry benchmarks
The dashboard uses live data to analyse holiday sales and website usage, providing merchants with improved analysis and comparisons to competitors. Merchants can then aim to retain holiday shoppers by tuning their customer retention plans. They can identify the sources of their most valuable festive customers, such as how they arrive (online advertising, social media, email etc) and the best times to contact them.
The Holiday Dashboard is powered by Magento Analytics, formally known as RJMetrics, the company acquired by Magento in August this year. Among the Internet Retailer 2016 Top 1000, 249 retailers use Magento’s e-commerce platform and two use RJMetrics.