Identifying Revenue Growth
Looking to opportunities to accelerate online sales.
Part of the every successful eCommerce platform project is setting realistic website revenue growth targets at key milestones
after launch. Website revenue is afunction of many aspect of a merchant’s overall sales and marketing activities and key
drivers during an eCommerce project will differ by merchant vertical. Since not all business conditions are within the control
or scope of an eCommerce project, it is important to understand the revenue drivers that are influenced when deploying the
website and how to evaluate room for growth when re-platforming.
OrderDynamics helps its clients identify growth areas based on a core set of metrics that are considered to be industry-standard
key performance indicators for an eCommerce website. These metrics include: Traffic and Traffic Sub-Segments, Gross Conversion
Rate and Sub-Segments, Cart & Checkout Abandonment, Average Order Value, and Gross Merchandising Revenue. By closely analyzing
website trends against industry and vertical baselines and performing a tactical review against known best-practices, OrderDynamics
can assist in the process of setting 1 to 3 year revenue growth goals.
During a re-platforming project there are often several areas of the existing website that will immediately be improved by
implementing new platform technology. Sometimes referred to "low hanging fruit", this often includes attributing a conservative
growth estimate to each of the key performance indicators that the new platform can affect out-of-the-box. Examples seen
in a typical OrderDynamics project include traffic growth through search engine optimization (SEO) controls, conversion
growth through improved Cart and Checkout, and Order Value growth via Dynamic Merchandising.
OrderDynamics helps compare our Clients pre-launch website metrics against available industry sources and other Client baselines
in order to assess their revenue goals and build a list of targeted tactics. OrderDynamics includes hundreds of features
that, when applied effectively, can lead to significant improvements to website metrics. For example, by applying specific
upselling tactics on the frontend and within the call center using Dynamic Promotions, shoppers will quickly and easily
increase their basket sizes. OrderDynamics helps its Clients identify several targeted tactics, broken down by website metric,s
to help them achieve their revenue growth targets.