WooCommerce is a fantastic plug-in that businesses can use on their WordPress sites. Read here for a guide on WooCommerce reporting!
Did you know that eCommerce sales are on track to reach over $4.8 billion in 2021? If you want a slice of that digital pie, you need to know how to attract customers and get sales.
Luckily, WooCommerce reporting can tell you what you’re doing right and where you can improve. Then, you’ll be able to make more money online now and in the future.
Do you want to increase your online sales? Read on to learn what WooCommerce reports to use.
One of the best WooCommerce reporting features focuses on your customers. WooCommerce allows you to set up customer accounts to help track individual activity.
When you do this, you can see how many people sign up as customers each day or month. It will also show you how many purchases come from customer accounts versus guests.
If you want to grow your WordPress eCommerce business, you should also keep track of orders. Luckily, WooCommerce makes this easy to access in your Reports dashboard.
The reports will show you how many items you’ve sold and how much you’ve made in a specific period. It also covers refunded items and your average sales per day for the week or month.
Another crucial part of running an eCommerce business is maintaining your inventory. WooCommerce reporting lets you view what items are in stock and which items are out or running low.
You can use that information when ordering or creating items that you sell online. If you always run out of something, you can know to buy or make more of it the next time around.
When selling on any eCommerce platform, you may need to account for state taxes. Luckily, the tax report shows you how much tax you need to pay on certain orders.
You can view taxes by the order date or the tax code, so you can see where taxes are coming from. Then, you can make sure you account for them when setting or changing your prices.
While basic WooCommerce reporting is useful, custom reports are even more helpful. You can use these dashboard metrics for WooCommerce to grow your business strategically.
And it lets you focus on certain types of data that you want to learn about. Then, you won’t have to overwhelm yourself with tons of information that may or may not help you right then.
You’ll need to use different plugins to view custom reports, and there are free and premium ones available. Consider some of the reports you can view.
When you have a lot of product categories, you should separate reports for each type of product. Then, you can see which categories are performing well so that you can add more products or take away products from categories that don’t get many sales.
A category report can show you the same performance and sales metrics from your overall WooCommerce shop. However, it lets you target a category to learn more about what works well for your business.
Country and State
If you sell to customers all over the world, it can help to learn where most of your customers live. Use that information to determine where to market your business and set affordable prices.
For example, if you have a lot of European customers, you may want to see reports relating to VAT. Then, you can filter by customers who have VAT and those who don’t, and you can determine if your prices are too high for those customers.
Offering coupons can be a great way to get sales from new and returning customers. Whether you offer a discount for a short period or ongoing, you should know how that coupon affects your business.
A coupons report can show you which coupons people are using and how much your store earns from each coupon. If you find a coupon isn’t getting much interest, you can adjust or remove it. On the other hand, you may want to offer your most popular coupon more often.
Daily, Monthly, Yearly Summaries
Did you have a particularly good or bad day or month for your business? Use a plugin to view a more in-depth report of the period in question to learn what did or didn’t work so well.
You can use these summaries to learn about products, coupons, and other factors. Perhaps you spent a lot on Facebook ads and that brought in sales, or maybe you stopped emailing your subscribers. Keep doing what works so that you can recreate your most successful month.
Another type of report you can view relates to your shipping costs. These reports can show you how much you spend to ship items and how much customers are paying.
If you want to switch to free shipping, this can give you a good idea of how much money you’ll lose. And it can help you decide if that’s worth it or if you may need to raise your prices.
Sold and Unsold
Sometimes, it can be hard to predict what items will sell the best when running an online store. Luckily, WooCommerce reporting allows you to see the cost of items you’ve sold and those you haven’t.
If you find the cost of unsold items to be too high, you can do something to sell them. Maybe you decide to offer a discount, or you bundle certain items with a qualifying purchase. Use all of these reports to help your business.
Tax and Refund
Even if you don’t get a ton of sales, you need to stay on top of taxes and refunds. If you give a refund to anyone, you need to keep track of that for your accounting purposes.
Then, you can pay just enough in taxes without overpaying. Whether you do your accounting yourself or hire an accountant, keeping track of these elements is crucial.
How Will You Use WooCommerce Reporting?
WooCommerce reporting is crucial to growing a successful eCommerce store. From standard to custom dashboard metrics for WooCommerce, consider what you want to track in your business.
Then, you’ll be able to focus on strategies and systems that bring in more sales. And you won’t have to worry about trying things that won’t work.
Are you ready to use WooCommerce reports? Sign up for WooCommerce Reporting Pro today.