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🔥 How To Audit Ecom Accounts - LTV, 3 AOVs, Sales Cycle, 3 ROAS & More
Published on
Nov 3, 2022
Account audits can make or break you as an agency owner. Here is a quick step-by-step guide on how to audit ecommerce accounts.
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🔥 How To Audit Ecom Accounts - LTV, 3 AOVs, Sales Cycle, 3 ROAS & More

Account audits can make or break you as an agency owner. Here is a quick step-by-step guide on how to audit ecommerce accounts.

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UTMs: The Good, The Bad, & How to Use Them with Triple Whale

Rabah and Corey go over everything you need to know about UTMs and how to maximize them with Triple Whale.

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The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

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Setting Up Klaviyo Tracking with Triple Pixel

Corey gives a quick and straight forward tutorial on how to setup your Klaviyo UTMs to work with Triple Whale. #LetsGo

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Transcription

Rabah (00:01):

Hey everyone, my name's Rabah and I just wanted to share my auditing process that I use for current clients and also prospective clients to put a game plan together when they do come on with my agency. All right, cool. So let's jump in. I use a tool called Triple Well. You can connect everything, really easy peasy, just throw your Klaviyo API key in there, or they just need to add you to their Google and Facebook.

Um, Shopify lowest access and boom, you're in. So once you're in there, um, I like to add some pre-built sections through roas, Roll them all. Shopify email, Facebook Pay performance, I'll show you, but I'm gonna go a little quick cuz it can kind of get long. There's a few steps to this, but so you normally I will look at the either last 90 days or year. So we'll just take to the last 90 days of this client.

(00:45)
Um, and again, this is gonna be my ecosystem, Roas or my Mer. So 2 85, that's very workable. One eight, that's not horrible. Usually want that about 1.5 to two, uh, 2.33, that's a bit low there in terms. So you're gonna be pushing, maybe looking to push some higher margin products there, but overall not in a horrible place there. Um, probably wanna make this a little bit more efficient.

What this is saying is for every dollar you're driving $2 and 85 cents of revenue for every dollar in ad spend. So, um, not great, not not horrible. Really wanna look into that. Okay, moving on so you can see your sales. Um, so next I wanna look at how much is email providing, uh, Lyft. Uh, so 17 percent's pretty low. We want to get that up to about 30%. The next thing we're gonna look into is the customer mix.

(01:35)
So a 60 40 split isn't horrible. I'd like to see this returning customer a lot higher. What this means to me, depending on, I need to understand how old this business is, um, but there's a reactivation issue. You only have, you have more new customers than returning customers. You really want the flip flop here. You wanna have a 60% returning 40% new, um, because that usually, unless it's a really early business, indicates that you're not keeping subsequent cohorts or getting value outta them, which we'll check in a second. And then I'll look at my, again, customer split here just looking at my paid media performance. So, um, again, that blended is, or that mirror right here.

This is the mirror percent representation. So what this is saying is 35% of revenues are eaten up with ad spend. So that's a over a third. So that's quite a bit of a change there. Um, you can see Facebook is fairly inefficient. Um, Google's super efficient but also really low spend. Um, and then I'm gonna look at my website traffic. So, uh, website traffic got cut pretty badly a third and then conversion rate is also down pretty severely. So, uh, a lot of jumping off points to talk to with the client.

Um, they have their SMS hooked up, looks like it's pumping out decent, can probably look how to improve their, um, and then again, any kind of Facebook specific metrics, but I kind of really get the

Rabah (02:58):

Gist, gist of it that it's fairly inefficient and the margins are low. Okay, cool. So the next thing I'm gonna look at is AOVs. So AOVs are super important. I usually take the last six months. Um, and so these are really workable. So $51 mean $40, $41 median. So the mean is gonna be the proper aov. This is total conversion value over total purchases.

The median is gonna be the center of the data sets and then the mode is gonna be the most frequent value. Um, 41 bucks is workable on, on paid. So that looks great there. The next thing I'm gonna look at is the 60 90 days. How has this been trending for this business? I like to usually look at the last six months. You can look at 12 months. If you only do three months, that only really gives you one 90 day cohort, but totally up to you.

(03:45)
Yeah, so not great, right? So you really want to see some bigger jumps than this. Um, oh, excuse me, I actually jumped around. So going back to the aov, um, the reason why this mode AOV is so important is because you can have a client like this where they have a $46 mean, but they only have a 1990 mode. Um, and that can really throw off some of your stuff there.

So, um, really make sure you check the mean meeting modes. Okay, cool. Um, we checked the 60, 90 days, that didn't look great, so we can definitely get better people in for this client than previous. Um, let's check the sales cycle real quickly.

(04:28)
And so this is gonna tell me time between first, second order second and third and third and fourth. So that's not bad. That's pretty workable about a month-ish and then it truncates a little bit on third, so that's nice to know. And then next thing I'm gonna do is look into a few product journeys here just to see kind of what's going on. So these are sorted by top products. Um, this does not look like a very strong product when you're doing product journeys, you care about two things.

You care about the golden path, this is gonna be the most prominent path. So that's this one, 65% and then the golden product path. Um, first purchase all the way to third purchase. So you're talking 8% and then 25%. So small but mighty eight to 25 is really good. You wanna see that subsequent cohort grow.

(05:14)
Um, but again, this isn't a really great product in terms of driving a lot of awesomeness. 65% buy something else. Um, let's look at this product. Ooh. And so right now you can see this is a product we could put some money behind. So that's 41%, 46%, so not the golden path, but still pretty much up there. And then you see 41% to 53% growth.

Um, so 12 points of growth there from the second to third purchase, which is really what you wanna see. And then you can see that Naomi Ponytail and this Lulu two strand also landed in here. So this would be something that I would probably put paid media behind, but those are kind of some ways you can look at the product journeys for that. The next thing I'm gonna do real quickly is look at

Rabah (05:56):

My bundles. And so just seeing kind of what goes together and is frequently bought together. And then this will just bundle up my top three and then I can check on the website if this client already has these bundles, I can choose by product to see, okay, choose some top sellers and see what top sellers being bundled with. But ultimately the big things I care about again, are my 60 90 day LTVs.

So I want to know those, how those have been trending for the client. Um, my mean median and mode AOVs. Those are the big two jumping off points. And then the next thing you really care about is that three rows to rule them all. And again, you could even look back if you want to a year and see kind of what that's been like and that will give you even more scope into what that client's doing.

(06:43)
But ultimately you need to know the mean median and mode AOVs for the client and you need to know what their 60 90 day LTVs are. Um, and those are gonna be the two things that really drive the bus. And then from that you can see how their paid medias performed using three row ads to roll them all as a lens. So again, you can do all this analysis if you want, just pull all the data, the product journeys are gonna be really, really hard. But uh, other than that you can just get triple oil if you want and it'll do it all automatically.

Um, super easy peasy. You need super minimum Shopify, um, permissions and then, um, you're off and running. So, all right, cool. Thanks for joining me. I hope this helps and definitely try with your clients. They're gonna be amazed when they hear you talking about mean median and mode AOV or 60 day, 90 day LTVs, deltas, all those cool fancy stuff.

So great retention and it's awesome to see actually how your strategies are being implemented to see hey, this things are working or aren't working. Cuz at the end of the day, a lot of clients, obviously you care about performance, but having a marketer that's constantly launching and thinking about and experimenting is way more valuable than somebody that finds a home run every now and then. So, alright, thanks again for tuning in. Uh, definitely go try triple l.com. Um, if you wanna learn more about Triple L. Alrighty, bye.

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