Hey Community! I got an email today that featured a really interesting set of metrics and overall great content and I wanted to forward it along to you. OriginallyFrom RJ Metrics We analyzed the data of 200+ ecommerce retailers with over $25 billion in transaction revenue to answer this question: what are the indicators of breakout ecommerce success? Our research included companies with less than $1 million in annual revenue to some of the fastest growing companies in the IR 500. By studying the key metrics of best-in-class companies, we were able to gain insight on how growth patterns differ for companies achieving breakout success. Here are a few of the highlights we found: Companies are getting smarter about growth — those founded in 2013 grew faster than companies founded in earlier years By month six in business, top performing companies are generating nearly $450k in monthly revenue Top performing companies have an Average Order Value 36% higher than other companies
I got a question on Twitter from someone who was wondering what the value of Social Media was, and if there is value in marketing directly to social channels for products and services.
Well, in 2014 users who either came from a social network or shared experience (such as email) spent an average of $126.12 vs customers who were non-social engaged. Non-socially engaged users spent a less on average, $116.55. That is an 8.2% increase. If you are an eCommerce vendor and do a million dollars a year, by targeting primarily social channels you could earn another $82000 in revenue!