What is time between purchases?Time between purchases, or TBP for short, is the amount of time that passes between a customer’s first purchase and their second purchase. It’s an important metric because it tells you how frequently your customers are returning to your store or website to make a purchase. Why is time between purchases important?Time between purchases is an essential metric because it’s an indication of customer loyalty. If a customer is returning to your store or website within a short period, it means they’re satisfied with their previous purchase and trust your brand. The longer the time between purchases, the less loyal the customer may be. Time between purchase and customer lifetime valueAdditionally, time between purchases is an excellent predictor of customer lifetime value (CLV). CLV is the amount of money a customer is expected to spend on your products or services over the course of their lifetime.…

Grid® ReportProducts are ranked by customer satisfaction (based on user reviews) and market presence (based on market share, seller size, and social impact): In the E-Commerce Data Integration category: the 2nd place among High Performers;In the Accounts Receivable Automation category: the 7th place among Leaders;In the Payment Processing category: the 3rd place among High Performers.Small-Business Grid® Report in E-Commerce Data Integration: the 4th place among Leaders;Small-Business Grid® Report in Payment Processing: the 2nd place among High Performers.Implementation IndexThe scores are based on the summary of the ease of setup, implementation time, user adoption + other factors of the product: In the E-Commerce Data Integration category: the 8th place with a score of 8.31;In the Accounts Receivable Automation category: the 4th place with a score of 8.39;Small-Business Implementation Index in E-Commerce Data Integration: the 7th place with a score of 8.29;Small-Business Implementation Index in Payment Processing: the 10th place with a…

What is COGS?COGS, or Cost of Goods Sold, is a key financial metric that is essential for any business, especially when it comes to marketing. COGS represents the direct cost associated with the production or acquisition of a product. It is important to understand COGS as it helps determine the profitability of a product and assists in developing effective marketing strategies. Why is COGS important for your business?COGS, is a major financial metric for any business, and it plays an essential role in marketing. COGS represents the direct costs associated with producing or acquiring a product, and it’s critical to understand this metric as it helps determine the profitability of a product. ProfitabilityWhen calculating COGS, businesses take into account the cost of raw materials, labor, manufacturing overheads, and shipping. By understanding COGS, businesses can calculate the gross profit margin by subtracting the COGS from the sale price of the product.…

What is the new customers metric?New customers are those who have never purchased from your business before. New customers represent a great opportunity for growth because they are untapped potential revenue streams. However, acquiring new customers can be expensive, so make sure you are targeting the right audience and using effective marketing strategies to convert them into paying customers. What is the returning customers metric?On the other hand, returning customers are your most valuable customers because they have already demonstrated their loyalty to your brand by making repeat purchases. These customers provide a steady revenue stream and are more likely to make larger purchases. However, remember that returning customers also have higher expectations, so it’s crucial to maintain a high level of customer service and offer incentives to keep them returning. Key metrics that influence your marketing directionWhen it comes to using financial data to influence your marketing strategy, at…

What is the new customers metric?New customers are those who have never purchased from your business before. New customers represent a great opportunity for growth because they are untapped potential revenue streams. However, acquiring new customers can be expensive, so make sure you are targeting the right audience and using effective marketing strategies to convert them into paying customers. What is the returning customers metric?On the other hand, returning customers are your most valuable customers because they have already demonstrated their loyalty to your brand by making repeat purchases. These customers provide a steady revenue stream and are more likely to make larger purchases. However, remember that returning customers also have higher expectations, so it’s crucial to maintain a high level of customer service and offer incentives to keep them returning. Key metrics that influence your marketing directionWhen it comes to using financial data to influence your marketing strategy, at…