Is it day-tuh OR da-tuh?

Story time.

The majority of my career has been spent in product management.

In fact, I've built multiple enterprise products that many of you may use today.

In building each of these products, the teams I've been a part of have spent countless hours working on data analytics to help surface insights.

The reality is, regardless of the product, customers want to know if it works.

And data serves as the most objective way of figuring that out.

At Novel, we recognize this, and have made it core to our DNA.

Today, I'm excited to announce the launch of our data (day-tuh) dashboard.

The insights shared will unlock tremendous opportunities for growth, customer retention, and more.

And we're just getting started.

-Grant (follow me on LinkedIn 👉🏻 here)

I botched the link in my last email, but this one should work ☝🏻

📊 Data Dashboard

Our data experience can be thought of as an ever-evolving insights dashboard —meaning, we will continuously and routinely add new metrics and views to further unlock what's possible with your data. At launch, there will be a two core focus areas:

1. Sales

2. Engagement

Sales Summary

The Sales Summary will provide you will clear snapshot of conversion across each video experience.

Influenced sales represents sales ($) that occur after a site visitor watches your shoppable video experience. We find that depending on the price point, shoppers may or may not navigate to other areas of the website before making a purchase. This metric helps you understand exactly that.

Video sales represents sales that occurred directly through the shoppable video embedded on your site.

Average Order Value (AOV) is the average order dollar amount across all orders completed through video.

Engagement Summary

The Engagement Summary will give you a deep dive into how your website visitors are interacting with your shoppable video experience.

Average Watch Time represents the average amount of time that each viewer is spending within the shoppable video experience. We look at this as the amount of time Novel is adding to the overall session time.

Engagement rate is the percentage of total visitors who engage with your shoppable video.

Website views is the total number of times the page where the video is embedded was viewed.

In addition to the above insights, we also illustrate a funnel chart that helps provide a granular video by video drop-off view. This is key in driving experimentation and adjustments within your video experience.

🔭 Looking Ahead

We plan to add new insights to the dashboard each month to provide more granular cohort analysis

This will be an evolving initiative—so feel free to provide feedback as to which insights you are looking to derive and we'll see what we can do.

If you have feedback, please hit reply and let us know. All the improvements featured above came from user feedback.

And be sure to follow us here on LinkedIn for real-time product updates and announcements.