Guide How Many Days Your Customers Wait to Complete Their Purchases?
I can only imagine how hard your life is. There are lots of metrics like bounce rate, conversion rate, time on the website, CTR, CPC, etc...
Everyone is talking about different things, and everyone has a different recommendation.
And you, you only have one goal, and it’s increasing your sales. Well, this article is prepared to help you to reach your goal.
In this post you will;
- Learn how many days your customers wait before buying from your store
- How to analyze it on Google Analytics
- How to shorten your customers' buying cycle.
That’s it. Let’s start.
Where the magic happens: Buyer Funnel
Based on the Wikipedia article, “The purchase funnel, or purchasing funnel, is a consumer-focused marketing model that illustrates the theoretical customer journey toward the purchase of a good or service.”
It means people just don’t click on your ads and immediately buy a few products from your website...
We ran a research project in 2020 with 50 different stores, 10M+ website visitors and found that the average time from the first touch to completed purchases was 8 DAYS.
Let’s say someone saw your ads on Facebook or Instagram today. She will become your customer after 8 DAYS.
You can change your ads, images, texts as much as you want. It won’t make any difference in results...
There is only one way to increase your conversions and it is understanding your customers' behavior.
Do you want to learn more about your customer funnel? How many days do they wait after they visit your website? There is a quite simple way to learn about it on Google Analytics.
If you don’t have a Google Analytics account, it is super easy. Shopify explains what you need to do here.
Solve the Mystery: Time-Lag Report
Log in to your Google Analytics account. Click on “Conversion” on the left menu. Then you’ll see “Multi-Channel Funnels” below the Conversion menu. Click on that. Then you will see the “Time Lag” report. Click on that.
Here we are!
This report shows how many days people wait before completing their purchases. For example, in this example, 22 people completed their purchases after 1 day they visited the store with the same device.
5 people completed their purchases after 2 days they visited the store with the same device…
Steal This Idea: Shorten Buying Cycle
Creating urgency is a proven strategy to increase conversions. There are lots of different ways to create urgency.
The important thing here is when you create urgency, protect your brand from false statements. Why?
Our survey with 10M + visitors ended up with 78% of customers don’t believe discounts come with pop-ups… You need to be authentic and trustworthy to create urgency.
So for the test project, we install the Growth Suite Shopify app. Growth Suite;
- Analyze each visitors behavior
- Segment visitors based on their behavior. Customers who show low interest will see the highest discount code, and customers who show high interest will see the lowest discount code.
- Each discount code comes with a 15 minutes timer. After 15 minutes, the discount widget disappears and the same visitor can’t see the discount again in the next 30 days.
What happened? Let’s look at the Google Analytics report.
Before using Growth Suite, their same-day revenues share from all revenue was 70%.
With Growth Suite it increased 81%.
More people complete their purchases earlier and total conversion rates show us creating urgency with well-designed time-limited discount codes shorter than the buying funnel. It just means more sales and revenue with your traffic.
What to do now?
In Growth Suite we have lots of stories like this. 300+ Shopify stores increased their conversions thanks to time-limited discount codes.
Want to see how Growth Suite works on Shopify stores? Enter your website and check out the Growth Suite preview on your store…
When was the last time you tried something new for your store?
Time-limited discount codes are a great way to create urgency in your customers. Try it now and see the results yourself.
Install the app, complete your onboarding in 3 minutes. That’s it. Don’t need to add or change any codes in your store…
