Monitoring Online and Offline Sales in One Place

Is the idea of selling both online and offline attractive for you? Or have you already started? If you use POS terminals you know it collects enormous volumes of data every day from the barcodes. This data hides important information that can help you as a merchant to set accurate pricing, launch sales campaign, and many other hacks. What else can you learn from your offline data, how do you compare them with online ones, and most importantly how to manage it all with no manual work?

Recently we announced a couple of hot new updates in MonkeyData app and now we’d like to bring the process full circle by analyzing your online and offline data in one place via MonkeyData’s omnichannel analytics. The most important benefit of this feature is that we put data from your online store and POS in one place where you can get the overview you need.

Why the focus on Omnichannel?

MonkeyData app for a while now has earned a reputation as a “powerful ecommerce analytics for online stores”, but we have changed gears and are looking more at presenting ourselves as the “#1 omnichannel analytics”. This has involved changing our business model and focusing more on the channels that our growing customer base are interested in using. Just as the ecommerce market is evolving, so too are the services for merchants and we want to be able to offer data that is as detailed, useful, and clear as possible.

Currently we’re able to connect to all Lightspeed stores, and Shopify is almost ready and other along with several other platforms.platforms are in a queue.

We’re extremely proud of how far we’ve come and this cross-correlation of online and offline data makes MonkeyData so far the first and unique app is thus far unique to the MonkeyData app — hence we’re proud to use the title #1! — Jan Laštůvka, MonkeyData’s CEO

What dashboards are worth watching and what they stand for?

POINT OF SALE (POS)

POS module collects all data gained from offline sales. Thanks to POS software and terminals you can sell basically anywhere — in physical stores, flea markets, outdoor events, you name it. Some merchants run more than one physical store and that’s no problem for MonkeyData either.

Photo by Redd Angelo — Sell your goods anywhere.

We’ve properly selected the most useful metrics to give you the most comprehensive picture of your offline sales so you can improve the specific areas you need.

• Brief POS overview firstly informs about overall revenue, orders, average order value and average revenue per customer generated by offline sales.
• Ratio Dashboard displays the share of individual physical stores according to their contribution to overall revenue. Trend Dashboard monitors the development of success of each store during a given time period. Together, they allow a merchant to track the prosperity of their business from store to store, and are a useful way to see how prosperity correlates on both short and long term timelines.
• Merchants will also love the Best Selling Products graph and Top Staff Sellers which each incorporate the human index as a potential increasing revenue indicator. By watching staff sellers stats, it’s easier to uncover issues with human resources, set motivational activities or give rewards.

All managers will value the best selling products and top staff sellers dashboards.

Do you have more burning questions regarding your figures? Combine data across dashboards to pick out specific problems or uncover patterns which you can use to boost productivity! Combine recommended segments in charts and discover hidden connections among them. For example, would you like to know what shipping method is mostly chosen to ship specific products? With MonkeyData’s app the newest features also give you the ability to export and download specially tailored charts for a detailed study or meetings.

ONLINE STORE

Once an online store is integrated to MonkeyData app, the sales data is automatically downloaded and refreshed every hour.

The online store module welcomes you with a Store Insight, which is a basic overview of your business over a given period, and from here you can check the Revenue, Orders and Average Order Values generated from your online store’s purchases. You can easily compare these KPIs with ones for offline sales.

Photo by Igor Miske — keep your sales data under control.

• Track Reasons for order cancellation (items undelivered/canceled) or Average order processing time which is the time interval between placing the order and having it show up in your shopping cart to when the transaction’s status changes to ‘Completed’.
• In the event you have no personal contact with prospects or customers, MonkeyData provides you with detailed information about your ecommerce sales. Monitor the First purchase behaviour to understand the way your store affects customers when they first arrive, and create a marketing strategy to draw them in and appeal to their tastes.

First purchase is important. Get it know well.

• Online store module also displays the best selling products and top customers by revenue they generate. One good strategy is to send them discount coupons for the next purchase or offer a free complimentary product with the purchase of a more expensive one. These little details all help to build rapport with returning and loyal customers. Show them you care.
• But the same attention to customer service applies to potential customers who haven’t finished a purchase. Find out the reason and try to bring them back. Regardless of whether you’re an online or offline store, it’s basic math that returning customers brings you more revenue than new ones.
• Last but not least is tracking orders by day/hour. This significantly helps to set working hours that line up with your customer’s activity and also helps you with understanding the logistics behind buying behavior and your company’s ability to meet those demands. Get to know the busiest days and hours on your website and use it to enhance the promotion of products.

Besides the incorporation of all of these useful dashboards, there’s still more you can find in the MonkeyData app! Go one deeper into your data and you can discover more about your products, orders, customers, shipping and payment methods in depth — see for yourself how these categories perfectly describe your own data.

OMNICHANNEL

While POS and Online Store modules track online and offline sales separately, Omnichannel collects all the data together so you can see your business as a one cohesive whole.

• In a quick overview you can see your revenue, orders, average order value and average revenue per customer — and for the most part, these features apply to every channel.
• Specific segmentation is displayed in the Sales Channels Comparison where all the channels you need are tracked, including your web store, physical store (POS) and marketplaces.

Share of offline and online sales on overall sales.

• Other dashboards and features are similar to the POS module, including the chart where you can select the recommended segments and see their correlations.

If you use some MARKETPLACES such a Amazon, eBay, Bol.com or others, stay tuned as we hope to bring in a special module for this channel very soon! :)

Using MonkeyData already?

The dashboards you’re used to are still here!

You might be asking whether this overhaul in the way MonkeyData is redirecting our approach to data analysis will affect the graphs and metrics you’ve already become come to know and love. But put your mind at ease!

All the features we are adding are newly developed and designed to accompany the ones still in place, so you won’t have to worry about adapting to a completely new layout or setup. If anything, we’re just giving you more options and trying to streamline the way in which our clients can access and utilize data. This includes, among what we’ve already discussed:

• MARKETING
• FEATURES sections

Want to know more about new dashboards and features? Schedule your demo call, we’ll be happy to guide you through the app and find the best solution for your store.

Fill the form and we’ll contact you right away!

We hope you agree that these changes are for the best and revolutionary in the way they perceive and integrate data analysis in an ecommerce setting! Tracking data from POS systems within your overall analytics is just what every manager wants, and this makes it even easier for the whole team to see how the individual components of a company function as a whole. MonkeyData makes analytics simple for everyone and the more sales channels that become available, the bigger challenge it is for us to make the magic happen for you. What do you think? Is the omnichannel strategy the way to go?

Thanks for reading!