Every Shopify merchant waits anxiously for the holiday season.

It’s the most lucrative time of the year, and revenue from this period can mean closing Q4 with everything on the green.

On busy days, it’s understandably easy to place too much focus on the number of sales and forget other metrics that should also be considered across the Shopify Black Friday Cyber Monday weekend.

Some metrics are obvious, like average order value or abandoned cart rate. However, solely paying attention to them can put other important figures in the backseat. Keeping track of different numbers, not only revenue, could change your whole marketing strategy for the holiday season and throughout the year.

In this article, we’re going to cover:

• 7 key metrics to track this Shopify Black Friday Cyber Monday
• How to make the most of Shopify Black Friday Cyber Monday with analytics
• 4 tips to help you with Shopify analytics during the Shopify Black Friday Cyber Monday season
• How to continue using key data beyond the Shopify Black Friday Cyber Monday weekend

‍

6 key metrics to track this Shopify Black Friday Cyber Monday

1. Revenue

The most important metric to consider.

Before your BFCM sale starts, it’s crucial to set realistic expectations about sales to achieve a clear goal.

According to McKinsey, one must be "cautiously optimistic" with the current cost of living crisis. Knowing the economic trends will also help to determine if it’s necessary to hire temporary workers or how extensive your inventory should be.

‍

2. Average Order Value

What’s your average order value across BFCM - and how does it compare to previous years?

Once your orders start flowing, it’s time to calculating your average order value.

If your average order value is a bit on the lower side, it may be a good idea to promote products in a more affordable price range. Or if you’re looking to counteract a low AOV, you may want to offer incentives for customers to order more - such as free shipping, gifts, or exclusive discounts.

Either way, tracking your AOV across Shopify Black Friday Cyber Monday can help you adjust your pricing and product mix accordingly.

‍

3. Conversion Rate

What percentage of visitors to your store are converting into customers?

Where are they clicking?

Are they adding items to their cart and going only some way through checkout?

It’s normal to see an increase in cart abandonment rates (CAR), as consumers will ad 40-50% more products to their cart throughout Shopify Black Friday Cyber Monday, leading to a 7% increase in abandoned carts.

Don’t worry. Customers are naturally more active across the BFCM weekend, so many will be shopping around and deciding what to buy. They’ll be looking around your website, comparing deals with your competitors, or even shaping you up against non-competitors.

Remember, you’re not just competing against brands in your space. Customers have a finite amount of funds, but will be looking to purchase from a range of companies, so you have to convince them that your products and your brand are where they should be looking.

‍

4. Total Traffic & Sources

How much traffic are you getting and where is it coming from?

Keeping track of your traffic will help you understand which marketing channels are the most effective, helping you get the most bang for your buck.

If you see that a particular channel is driving a lot of traffic but not converting well, you might need to rethink your strategy.

‍

5. Top-Selling Products

Maintaining a best-selling products list can help with your stock and promotional strategy.

If you see that a particular product is being well received, you may want to increase its production or inventory - or if you think another product deserves some attention, you might adjust how it’s shown on your website or run a specific promotion.

Equally, highlighting your best sellers is an excellent way of promoting FOMO, driving more sales.

‍

6. Customer Satisfaction

How happy are your customers with their purchases?

As many Shopify Black Friday Cyber Monday sales extend for over a month, it’s important to continually track customer happiness, not just after the sale’s over.

Customer service is incredibly important when creating a successful business - and it’s particularly important over key sales dates.

Acquiring a new customer costs 6-7 times more than retaining a customer you already have, so it doesn’t just impact your reviews, it directly impacts your ROI.

‍

How to track customer satisfaction

There are a few ways to track customer satisfaction across the Black Friday weekend.

One of them is to send out post-purchase surveys to your customers, which can be done through a variety of Shopify apps.

You should also keep an eye on your social media channels, looking out for any public comments or feedback, as well as direct messages.

Users may be praising your products or brand - that's a golden opportunity to use this as your content (UGC, or user-generated content).

Lastly, take a look at review sites such as Yelp, Google Reviews or TrustPilot. Customers don’t always share their experiences  - positive or negative - directly with the brand.

‍

Making the most of Black Friday with Shopify analytics

1. First and foremost, Black Friday is an excellent opportunity to boost your e-commerce sales. Offering discounts and promotions can attract new customers, increase order value, and multiply app downloads.
2. Black Friday is also a golden moment to collect valuable customer data. By tracking key metrics such as traffic sources, conversion rate, and average order value, you can gain insights into what's working and what's not.
3. The holiday season works wonders to build your brand awareness. By promoting your brand on social media and other channels, you can reach new audiences and attract more customers in the long run.

‍

4 tips to help you with Shopify analytics during the Shopify Black Friday Cyber Monday season

1. Plan ahead and make sure you know what metrics you’ll be tracking in advance. You don’t want to be scrambling around for data whilst juggling all your other operations.
2. Use Shopify analytics to segment your customers and understand their behaviour. This way, you can target them more effectively with future promotions.
3. Analyse your data and look for trends. You’ll be able to understand if the inflation worries are affecting your target audience, being able to create new marketing campaigns with that in mind.
4. Act on your insights and make changes to your strategy if necessary.

‍

Using data beyond Shopify Black Friday Cyber Monday

Black Friday is a fantastic opportunity to improve your Shopify business by offering discounts and promotions, and collecting valuable customer data.

However, the real key to success lies in using this data effectively to segment your customers and understand their behaviour.

Make sure your data collection isn’t a passive activity. Use it to guide your business strategy around key sales dates and beyond.

‍

Shopify Black Friday Cyber Monday FAQ

What are the key metrics I should track over Shopify Black Friday Cyber Monday?

The key metrics to track over Shopify Black Friday Cyber Monday are:

1. Revenue
2. Average order value
3. Conversion rate
4. Total traffic (& traffic split by source)
5. Product popularity
6. Customer satisfaction

‍

Where do most sales come from across Shopify Black Friday Cyber Monday?

Most sales from Shopify stores across BFCM come from mobile. In 2022, 73% of Shopify sales were made on mobile devices and 27% were made on desktop.

‍

What is the best way to increase my Shopify Black Friday Cyber Monday sales?

The best way to increase your Shopify Black Friday Cyber Monday sales is with a Shopify mobile app builder.

Mobile apps convert 3x better than mobile websites and drive a 10% higher average order value. Not only that, but mobile push notifications allow you to rescue abandoned carts whilst making it easier to communicate with your customers.