NAKED! Dashboard with all our live ecommerce metrics | Minimalism Brand
This is without a doubt our most risky, epic and funniest post. Since Minimalism Brand began, we have given almost all the "sensitive" data of the company: billing, number of orders, best-selling portfolios, visits to the web, conversion percentages, etc. ( Here are the ones from last quarter ). After 7 months we can say that everything has been good news, the posts are very well received and many people write to us to thank us for what we do.
Before reading on, would you be able to make all your business data public on a regular basis? Surely without thinking you say "No". But what if you think twice? We would love this post to also help you reflect on your company.
THE 3 REASONS WHY WE ARE TRANSPARENT
- Do things differently . We are a small fashion e-commerce, how many are similar? We are not too attracted to doing things the way everyone else does, and we want you to know at all times who you buy our products from. We have been inspired by companies like Buffer , blogs like Tomás Santoro's from Suma CRM and newsletters like David Bonilla 's. Chapeau to all of them, it is not easy to do what they do.
- Count the beautiful, but also the ugly. We want to set up the company with you, we want to do it that way and let you see what goes well and what goes wrong. Not everything is beautiful in this business, in our opinion it is just as important to count the successes as the failures.
- Loyalty customers. We are creating a brand, with values and a specific way of living life. We want people who identify with transparency, honesty and minimalism. We have not found a better way to transmit our values than telling everything we do and why. Plus, it's a good way to take care of our customer base.
THE 3 WEAKNESSES OF OUR TRANSPARENCY
- Our competitors will know almost everything. We know that by doing this we expose ourselves a lot, both in the good and the bad. We are giving a lot of information that can sometimes be very valuable to our competitors. Of course, we took 7 months out of them :)
- If it goes wrong, everyone will know. A failure can usually be covered in one way or another but in our case we go to the end with everything. We hope not to count the absolute failure but we are open to it.
- If we go out to ask for financing, "tricks" are not worth it. All our data is public and will be seen by our potential investors and banks.
There are people who have already constructively criticized this model, we understand it but we do not agree. Why don't we tell what we do and how we do it? Anyone can learn from our experience, and we are managing to reach places that seemed almost impossible to us.
This is definitely what excites us and is the best way to communicate what we are. That is why we have created a dashboard where you can see live the evolution of our main metrics over time.
All the metrics shown are from our online store:
- Total income (day, week, month).
- Income by acquisition channels (Social, Seo, Direct).
- Total customer history and new customers.
- Volume of orders (day, week, month).
- Conversion of user to payment (day, week, month).
- All web traffic, bounce rate, average duration of the session, etc (day, week, month).
- Graph with the orders of the last 30 days.
- Graph with the evolution of web traffic (day, week, month).
What do you think? Do you miss any metric?