GetPaid (Formerly the Invoicing plugin) is a lightweight Payments and Invoicing system for WordPress. It can be used to sell anything online via payment forms or buy now buttons that can be added to any landing page. It can also be used by freelancers to manage their Invoices or by 3rd party Themes and Plugins as their payment system. GeoDirectory currently uses GetPaid as its payment system
e need to add this KPI ( key performance indicators) to GetPaid reports.
1. Lifetime Value (LTV): This predicts the net profit attributed to the entire future relationship with a customer. It helps you understand how much each customer is worth to your business over their lifetime.
2. Customer Acquisition Cost (CAC): This measures how much it costs, on average, to acquire a new customer. It's crucial for understanding the efficiency of your marketing efforts and whether you're spending the right amount to attract new customers.
3. Average Order Value (AOV): This metric tells you the average amount of money each customer spends per transaction. Increasing AOV is a key strategy for boosting revenue.
4. Conversion Rate: This is the percentage of website visitors who make a purchase. It's a critical measure of your website's effectiveness at turning visitors into buyers.
5. Cart Abandonment Rate: This measures the percentage of shopping carts that are filled but not completed with a purchase. It's important for understanding where you might be losing sales and how you can improve the checkout process.
6. Retention Rate: This measures the percentage of customers who return to make another purchase. High retention rates are often indicative of customer satisfaction and loyalty.
7. Gross Merchandise Value (GMV): This is the total value of merchandise sold over a period. It gives you an idea of the scale of your sales before considering any costs.
8. Return on Investment (ROI): This calculates the return generated on the money spent on marketing or other expenses. It helps assess the effectiveness of your investment strategies.
9. Churn Rate: This measures the percentage of customers who stop doing business with you over a certain period. It's a key indicator of customer satisfaction and product or service relevance.
10. Net Promoter Score (NPS): This gauges customer satisfaction and loyalty by asking customers how likely they are to recommend your business to others. It's a strong indicator of customer perception.
Understanding and monitoring these metrics can provide valuable insights into how to grow your eCommerce business, optimize operations, and enhance customer satisfaction.
e need to add this KPI ( key performance indicators) to GetPaid reports.
1. Lifetime Value (LTV): This predicts the net profit attributed to the entire future relationship with a customer. It helps you understand how much each customer is worth to your business over their lifetime. 2. Customer Acquisition Cost (CAC): This measures how much it costs, on average, to acquire a new customer. It's crucial for understanding the efficiency of your marketing efforts and whether you're spending the right amount to attract new customers. 3. Average Order Value (AOV): This metric tells you the average amount of money each customer spends per transaction. Increasing AOV is a key strategy for boosting revenue. 4. Conversion Rate: This is the percentage of website visitors who make a purchase. It's a critical measure of your website's effectiveness at turning visitors into buyers. 5. Cart Abandonment Rate: This measures the percentage of shopping carts that are filled but not completed with a purchase. It's important for understanding where you might be losing sales and how you can improve the checkout process. 6. Retention Rate: This measures the percentage of customers who return to make another purchase. High retention rates are often indicative of customer satisfaction and loyalty. 7. Gross Merchandise Value (GMV): This is the total value of merchandise sold over a period. It gives you an idea of the scale of your sales before considering any costs. 8. Return on Investment (ROI): This calculates the return generated on the money spent on marketing or other expenses. It helps assess the effectiveness of your investment strategies. 9. Churn Rate: This measures the percentage of customers who stop doing business with you over a certain period. It's a key indicator of customer satisfaction and product or service relevance. 10. Net Promoter Score (NPS): This gauges customer satisfaction and loyalty by asking customers how likely they are to recommend your business to others. It's a strong indicator of customer perception.
Understanding and monitoring these metrics can provide valuable insights into how to grow your eCommerce business, optimize operations, and enhance customer satisfaction.