Ever wonder why traffic spikes on Mondays and plummets on Sundays at your e-commerce store?
We've spent a lot of time looking into this too, and we came up with a couple of theories:
While there are countless types of online businesses and an infinite number of product categories, there's one common goal that every e-commerce owner shares: to make more money.
Let's go over a few ways that you can actually get this "making more money" thing done!
Large businesses have always known the value of business intelligence in making decisions and Sum(All) is making it possible for small businesses to tap into these metrics in order to make smart, profitable decisions.
The short answer is that it depends. Having both are critical to your business, but depending on the nature of your business, margins, and target market, the focus on customer and revenue may shift in priority.
If your product is a high margin niche product (e.g. airplanes), then a few large customers who drive a lot of revenue will suffice to sustain your company's cash flows.
Business owners, managers, execs, and leaders all love talking about growth.
Is my e-commerce business growing? How can I make my e-commerce business grow faster? Is this year's growth better than last year's growth? The questions are endless.
When folks start talking about growth, one of the most important things to ask is, "What are you comparing it to?" The most common comparisons are day over day (D/D), week over week (W/W), month over month (M/M), and year over year (Y/Y). The period you choose to compare your growth is absolutely critical because choosing the wrong period to compare can give you an artificially inflated or deflated picture of your business' performance--so it might look like you're growing like gangbusters when you're actually not; or like things are gloomy in the growth department, when in fact they're not so bad.
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