Tracking and reporting the success of time-limited campaigns on your Shopify store is very important when shaping your campaign strategy. You can learn which types of campaigns your audience responds to, which discount rates boost your sales, and which products are most popular during campaign periods. In this post, we will look at the key metrics you need to track for time-limited discount campaigns on Shopify.
Defining Key Performance Indicators (KPIs)
Let’s start by looking at the important metrics you must track in time-limited discount campaigns.
•Conversion Rate: The most important metric for Shopify stores is the sales conversion rate. This metric shows what percentage of your visitors make a purchase. Checking your conversion rate during the campaign period and comparing it to the period before the campaign is an important indicator of how well your campaign is performing.
•Average Order Value (AOV): Another critical metric is the average order value. A higher average order value directly increases your revenue and profit. How high was your average order value during the campaign? How did it change compared to before the campaign? Looking at this is very important.
•Funnel Change: One report that Shopify stores should regularly review is the Funnel Report. This report shows how visitors move from their first visit to completing a purchase. It tells you how many visitors viewed at least one product, how many added a product to their cart, how many started the checkout process, and how many completed their purchase. It’s important to track the conversion at each step of this funnel during the campaign and see how it changed compared to before.
•Redemption Rate: What percentage of purchases used a code from your campaign? This is a key metric to understand your campaign’s overall performance. If many customers complete their purchase without using the discount code, there could be a problem with your campaign setup, discount code, or on-site promotion. In this case, you need to review and fix these issues.
These are the key metrics to track for time-limited campaigns. Depending on your promotion strategy, you may want to add more metrics to your campaign reports.
If You Use Email Marketing to Promote Campaigns:
•Open Rate: What percentage of your emails were opened? How did this rate change compared to before the campaign?
•Click Through Rate (CTR): What percentage of people who opened your email clicked on at least one link? How did this change compared to before?
•Conversion Rate: What was the sales rate from the email channel? How did this change compared to previous campaigns?
•Unsubscribe Rate: How many people unsubscribed from your list? How did this change compared to before?
If You Use Social Media Marketing to Promote Campaigns:
•Post Impressions: How many views did your campaign posts get on average? How did this change compared to your usual post views?
•Post Engagement: How much engagement did your campaign posts receive? How did this compare to the average engagement on your page?
•Follower Change: How did your follower count change? How many new followers did you gain from your campaign posts? Did you lose any followers? What happened to your total follower count?
General Interaction Metrics on Your Shopify Store:
Regardless of the promotion channel, tracking general metrics on your Shopify store can help you better understand your campaign’s impact:
•Average Session Duration: How long did an average visit last during the campaign? How did this change compared to before?
•Total Sessions and Total Users: On average, how many sessions and unique users visited your store each day during the campaign? How did these numbers change compared to before?
•Bounce Rate: What percentage of users left your store immediately after opening it? How did this change during the campaign compared to before?
By considering all these metrics, you can clearly see how your campaign affected your store.
Setting Up Tracking Mechanisms
To track these metrics correctly, make sure the data collection process on Shopify works properly.
1.Integrate Google Analytics:
First, it is very important to integrate Google Analytics into your Shopify store using Shopify’s native solution. This integration makes it easy to track accurate metrics with just one click, giving you reliable data.
2.Use UTM Parameters:
Use consistent and clear UTM parameters in all your marketing efforts. Add UTM parameters to all the links you use in email marketing, social media posts, SMS, and push notifications. This way, you can easily track interactions by channel and see where your traffic comes from.
3.Use Tools Like Growth Suite:
If you use an app like Growth Suite, you can quickly generate funnel reports and product interaction reports for the campaign period, before, and after the campaign.
Data Collection and Analysis Techniques
Because time-limited campaigns do not run continuously, it is important to track campaign performance in real time from the start.
•Watch which products visitors are viewing.
•See which products are most popular.
•Check the stock levels of these products.
•Monitor how your traffic changes.
Use tools like the Shopify dashboard and Google Analytics to track these in real time. If you notice any problems in the data, act immediately. This quick response can maximize the results of your campaign.
After the campaign ends, compare all the metrics to the period before the campaign. Make sure you tracked all the important metrics correctly and reported the data without errors.
When analyzing data after the campaign, create special reports for different segments based on your overall growth strategy and campaign goals. For example:
•Which users shopped from your brand for the first time during the campaign?
•Which users who hadn’t shopped in 3 or 6 months made a purchase because of this campaign?
•What products did users with higher-than-average cart values purchase?
Tracking these details is important.
Optimizing Future Campaigns Based on Insights
Campaign reports should be more than just statistics. After analyzing the data, share your findings with your team and clarify what you learned.
•What offers moved consumers during the campaign?
•Which products were most popular?
•How did stock levels change?
•What can be done to improve performance in the next campaign?
Also, analyze customer reviews, live support requests, and questions related to the campaign. Find out:
•What issues did users need help with the most?
•What were the most common live support questions?
By developing strategies to prevent these issues in future campaigns, you can improve your performance.
Conclusion
After running time-limited campaigns, preparing a detailed report and analysis is key to improving both your campaigns and overall store performance.
•First, make sure the data collection process on Shopify is working correctly so you can track campaign performance accurately.
•Confirm that your data flows smoothly into Google Analytics.
•Use consistent and easy-to-understand UTM parameters in all marketing efforts.
•During the campaign, track general interaction metrics on your store, how the purchase funnel changed, which products were most popular, and how often the discount code was used. Compare these metrics to the period before the campaign to see its impact.
•Prepare reports on common customer support questions during the campaign to understand how the experience was affected and to find opportunities for improvement.
•Set up a real-time dashboard before the campaign starts. Monitor what is happening in your store in real time so you can act quickly if there’s a problem.
Finally, remember that if you create time-limited discount campaigns with Growth Suite, it will automatically handle all these analyses and reports for you. With Growth Suite, you can easily track all the data and get the most from your time-limited offers. You can install Growth Suite for free from the Shopify App Store.
Also, don’t forget to check out our other posts below to learn more about time-limited discount campaigns.
Shopify Time Limited Offer GuideMastering Percentage Discounts in Shopify for Maximum Impact
Fixed Amount Discounts on Shopify: When and How to Use Them Effectively
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