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Hero Products
This report displays the statistics regarding the most popular and highly purchased products by new customers organized in visuals which can be filtered by a specific period of Time, Category, Style, Name, etc. We can see which products are doing well, so we can run advertising programs and manage imports better. The business could achieve the below goals:
- Track top-selling items on the first order
- Track customers contribution on their first orders
- See the relationship between New Customers and Average New Customers Contribution
| Goals | Questions to ask | Dashboard views |
| Track top-selling items on the first order | What are top-selling items? | Top 5 Products by Customers Contribution w/Product |
| Track customers contribution on their first orders | How much customers contribute to business on their first orders? | Customers Contribution w/Product |
| See the relationship between New Customers and Average New Customers Contribution | Do New Customers and Average New Customers Contribution have the relationship? | New Customers vs Avg New Customers Contribution Plot |
*Key Terms
New Customers:
Customers purchasing for the first time
Customers Contribution w/Product:
Total customers contribution on their first orders
Average New Customers Contribution = (Customers Contribution w/Product)/(New Customers):
Average amount of money customers spend on the first order
Hero Products Report
- Identifying best-selling products will help businesses manage stock on hand and sales campaigns.
- Based on the product purchased by many customers on the first order and the average contribution of the customers, it can be used as a reference to develop and sell similar products.
Conclusion
Understanding your new customers and hero products is a key aspect of being able to effectively market to customers and build relationships with them.
