Popular Use Cases: Shopify
HOW TO REPORT ON
How to report on Customer Lifetime Value
Data Calculations is available in Plus and Business Accounts. Agency Basic Accounts have access to Data Calculations in the Agency Account only. Request a trial of Data Calculations by following
- 1 to report on "Purchase Frequency,"
- 1 to report on "Average Order Value,"
- 1 to report on "Customer Value," and
- 1 to report on "Customer Lifetime Value."
To start, you'll need to create a Calculated Metric to report on "Average Order Value."
Pro Tip: "Average Order Value" = "Total Sales" / "Orders"
Next, calculate "Purchase Frequency."
Pro Tip: "Purchase Frequency" = "Orders" / "Total Customers"
Pro Tip: "Customer Value" = "Purchase Frequency" x "Average Order Value"
Pro Tip: "Customer Lifetime Value" = "Customer Value" x "Average Customer Lifespan."
"Average Customer Lifespan" is calculated by averaging the number of years a customer continues purchasing from your Shopify store. For newer stores, Shopify recommends using an "Average Customer Lifespan" of 3 years.
How to report on Country Performance
In order to report on country performance from Shopify, you will want to create a separate Shopify Account for each country. You can then connect the individual Shopify Accounts in Databox and report on country-specific data.
How to report on combined data from multiple Shopify stores
You can combine data from multiple Shopify stores by connecting each Shopify Account as a separate Data Source in Databox. From here, you can use Data Calculations to combine data from your various stores.
If your Shopify stores track currency in different units, be sure to put the necessary conversions in place so your aggregated data is accurate. You can learn more here.