Magento Development Company Introduces Holiday Dashboard For Merchants
by Jane Reyes on April 13, 2017

Trusted by over 250,000 businesses all over the world, Magento is the leading provider of cloud commerce innovation to brands, retailers and branded manufacturers across B2B and B2C industries. With more than $50B in gross merchandise volume transacted yearly, Magento Commerce is the foremost provider to the Internet Retailer B2B 300 and Internet Retailer Top 1000, counting double the clientele to the closest competitor.

Magento development company, the worldwide leader in digital cloud commerce innovation announced the Magento Holiday Dashboard, which uses live data of merchants to inform better commerce decisions for the holidays. The cloud analytic service gives merchants with enhanced analysis of holiday campaigns as well as compares performance with competitors. Also, Magento announced the companion 2016 Magento Holiday Benchmark to offer aggregated trend data cross a wide set of merchants. Both dashboard and benchmarks study are available immediately.

Holiday Issues Faced By Retailers

The main issue for retailers is the hardships in segmenting and profiling holiday customers that make targeting them an even greater challenge. With the holiday customers buying products as gifts intended for a completely different type of consumer, the usual customer insights based on buying history and behavior could be unreliable.

The issue of a potentially diverse customer base and unpredictable purchasing behavior over the holidays frequently results in a usually ineffective solution, such as the blanket promotional campaigns. As the name suggests, the blanket campaigns do little in capturing and retaining customers. Surrounding the central concern are the usual purchase behaviors, which could start to claw away profits. With consumers increasingly on the lookout for special offers and free delivery committing to a purchase, AOV’s could begin to fall short of acquisition expenses and eat away at margins.

Magento Holiday Dashboard

The holiday season represents awesome customer acquisition as well as growth opportunity for merchants. But, if they’re not keeping an eye on the correct data, they could be caught up in the hype and negatively affect gross margins. With this dashboard, it becomes easier than ever for merchants to deploy strategies that are data-driven to grow the business before, during and well beyond the holidays.

Using The Holiday Dashboard

Customers of Magento development company, that use the Holiday Dashboard could compete better for and keep holiday shoppers via tuning the customer acquisition and retention spending plans. Based on the 2016 Magento Holiday Benchmark, on average merchants acquire 59 percent more customers during the holidays. However, since those customers purchase less and return less often, on average, they’re 13 percent less profitable. Thus, it is vital for merchants to have access to insights on how to best serve and market customers and to make other data-driven business decisions.

Magento development company

Key Capabilities Of The Holiday Dashboard

There are several key capabilities of this Holiday Dashboard that includes the following:

  • Customer Acquisition : Identify the source of the most valuable holiday customers and invest marketing in the highest-impact channels.
  • Enhanced Productivity : Provide the team with one source of the truth and centralized goals for driving holiday performance.
  • Customer Retention : Discover the best times of emailing the existing customers with targeted holiday campaigns.
  • Magento Holiday Benchmark : Measure holiday performance against the competition and acquire new insights on industry trends and averages with companion study.
  • Vital Metrics : Relevant metrics like average order value, customer lifetime value and costs acquisition, all are accounted for in real time. Merchants could track and compare metrics from KPI’s and insights that are integral to them.
  • Live Data : The dashboard uses live data so that merchants could rely on immediate insights to help keep up with customers and stay ahead of the competition.
  • Key Customers : Key customers metrics like AOV and CLV helps in identifying the most profitable clientele and their buying behavior. Merchants could use this data to target customers with personalized campaigns, which reward high value customers or inspired repeat buys.
  • Profitable channels : Retailers could use the dashboard to determine the acquisition channels that drive the all-important metrics. The right budget and strategy could then be allocated to every channel, prioritizing the most profitable ones so every money spent is optimized for a return.
  • Right content at the right time : The ability to immediately act and remain agile is more important than ever with 39 percent of holiday shoppers making a second buy within the holiday season. With the dashboard, retailers could determine the best times to reach customers.

Magento Development Company Describes Features Of It

  1. It helps in identifying the source of holiday customers and invest judiciously for the high impact channels as well as acquire customers.
  2. The centralized goal helps in driving holiday performance which implies increased productivity.
  3. It helps discover the convenient time of customers and target them for holiday campaigns via email.
  4. Insights on the industry trends.
  5. The Holiday Benchmark measures holiday performance and helps to gain.

This Holiday Dashboard empowers merchants to take advantage of each and every opportunity during the holiday season. 

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