Unlock Your Business Potential with Analytics
The Analytics is where you unlock valuable insights that can drive your business forward. By diving deep into your loyalty data, you can better understand your customers and make informed decisions that lead to stronger customer relationships and business growth.
Track key metrics, analyze trends, and refine your strategies to maximize the effectiveness of your loyalty programs.
Let’s begin with the basics by following each metrics given below!
1.Customers
Below are key indicators about your loyalty program customers.
Loyalty customers: Total number of customers who have joined your loyalty program.
CLV (Customer Lifetime Value): Average Customer Lifetime Value, representing how much each customer contributes over their lifetime with your store.
Active customers: Number of loyalty customers who have made a purchase.
New customers joined: Total number of new customers who joined your loyalty program.
Referral customers acquired: Number of new customers who joined via referral campaigns.
2.Orders
Offers an overview of the shopping habits of your customers.
Average order size: Average dollar amount per customer order.
Average products per order: Average number of items purchased in each order.
Average order frequency: Average number of orders placed by each customer.
Average points earned per orders: Average points earned by customers per transaction.
3.Loyalty Points
Summarizes key point metrics.
Total customers with points: The number of customers who have loyalty point balance. Encourage customers to redeem points to keep them engaged.
Total point balance: The total points accumulated by all customers, indicating the potential rewards that can be redeemed. Monitor your potential rewards liability, and make sure to use them to create additional sales opportunities.
Worth of total point balance: The monetary value equivalent of the total accumulated points in the loyalty program. Plan for future reward redemptions financially.
Total points earned: The total number of points earned by customers through various activities such as orders, sign-up and birthday. Highlight earning opportunities to boost engagement.
Total points spent: The total number of points redeemed by customers within the specified period. Promote redemption to drive sales.
Points earned chart: A visual representation of points earned by customers within the specified period. Track how your campaigns drive points accumulation.
Points redeemed chart: A visual representation of points redeemed by customers within the specified period. Assess the effectiveness of your reward offerings.
4.Insights at a Glance
Provides actionable insights to improve member engagement.
Peak hours: Identifies the times of the day and days of the week when your transactions peak. Promotions can be scheduled for off-peak times to drive maximum impact.
Top Products: Highlights the products that generate most of your sales, helping you identify popular items. Feature bestsellers in your marketing campaigns and try to bundle less popular items with top products to introduce new products that can become new favorites to your loyal customers.
Order Frequency: Shows how frequently customers make orders, indicating engagement level of your loyal customers. Encourage repeat purchases with loyalty incentives.
Repeat Customers: The percentage of customers who make more than one purchase in the specified time, showing loyalty. Identify loyal customers to thank with special rewards.
Preferred Redemption Day: Indicates the day of the week when customers prefer to redeem points, helping you plan promotions. Plan special offers around popular redemption days.
Redemption Rate: The percentage of earned rewards that customers redeem, showing how attractive your rewards are. Adjust your reward offerings to increase appeal.
Participation Rate: The percentage of customers actively engaged with your campaigns, indicating overall engagement. Refine your campaigns to boost engagement rates.
5. Sales Analysis
Shows how your loyalty program contributes to your sales.
Sales by Time Band: Displays sales distribution by time slots, helping you understand when sales peak. Maximize revenue by targeting high-performing time slots or incentivize your customers with tailored campaigns to fill low performing time slots.
Daily Revenue: Shows daily revenue trends over the past week. Identify patterns to optimize daily operations.
Total Revenue: Displays the sales trends made by your loyalty customers today with this line chart. It’s essential for understanding revenue patterns and planning for future growth.
Referred Orders: The total number of orders made by your referred customers within a specified period. This chart helps you assess the effectiveness of your referral program over time.
6. Orders
Provides a detailed view of all orders made by your customers within the selected period. Track individual transactions and understand their specifics, ensuring you have all the information needed for effective management.
Using these details, you can gain insights into individual orders, track the effectiveness of your loyalty program, and make data-driven decisions to improve customer engagement and sales. Below are the definitions and significance of each column:
Order ID: Displays the unique identification number assigned to each order. This helps you track and reference specific orders easily.
Amount ($): Shows the total monetary value of each order. This gives you an overview of the revenue generated from each order.
Date & Time: Indicates when each order was given. This helps you understand purchase patterns and peak shopping times.
Type: Displays the type of order, such as Sale or Refund. This helps you differentiate between completed purchases and returned items.
Earned: Shows the number of loyalty points earned by customers for each order. This helps you track how points are being accumulated through purchases.
Redeemed: Indicates the number of loyalty points redeemed by customer in each transaction. This helps you monitor how points are being utilized.
Reward: Displays the specific reward or promotion applied to the order. This helps you see which campaigns or incentives are being used by your customers.