- Metric: Average Revenue Per Visitor
- Statistics: Z-Test
- Tails: 2
- Confidence: 95%
- Power: 80%
- SRM Confidence: 99%
Average Revenue Per Visitor Calculator
The average revenue per visitor, a.k.a. ARPV or RPV is actually composed of both conversion rate CR, and average order value AOV.
It’s recognized as one of the best metrics to optimize for, as it’s randomization unit is the visitor like for conversion rate, yet it allows optimization for revenue directly. It also contains the information of both CR and AOV.
To compute pre-test for it, you need a CSV file with one column of a week’s worth of order values with non-converting visitors having orders of value 0.
So the total number of values (rows) should be your total number of visitors. To run a post hoc analysis (post-test mode) you need the same for all variants (order values with 0 for visitors without purchase), and the first column being the control always, and for the duration of the test (if the test is still running, then the values should be up to the present moment).
You can download a sample directly here.
Why is revenue per visitor important?
How to increase revenue per visitor?
What are the most important eCommerce metrics to monitor?
Before talking about Ecommerce metrics, let’s look at the important distinction between a metric and a KPI.
A metric measures how a particular workflow or process is executed on your site. It turns something abstract like - purchase intent - into something quantifiable that can be measured and improved.
A KPI is a Key Performance Indicator. It is a metric! But it is one that tells you how effective the workflows on your site are.
A KPI is in most cases a lagging metric because it is OUTCOME focused. You tweak leading metrics that you have control over, but your success is defined by your KPI improvements.
Here are some important eCommerce metrics are broken down by stages in the Buyer’s Journey:
Awareness or Discovery:
- Total Traffic
- Impressions per page
- Visitors to Category pages
- Social shares of product
Consideration or Desire:
- Adds to Wishlist
- Accounts created
- Add to Cart
- Items in Cart
Decision or Action:
- Cart Abandonment
- Purchases Made
- Average Order Value
- Average Revenue Per Visitor
- Total Revenue
- eCommerce conversion rate