Bold uses the Checkout Power Trio to define three metrics to capture the performance of each checkout flow:
- Average Order Value (AOV)
- Lifetime Value (LTV)
Use this page to troubleshoot any issues you are having with your metrics.
Checkout Completion Rate
One of the main impacts on a store's conversion is checkout completion rate (CCR). This value measures the percentage of completed orders, and it is calculated using the
completed order count divided by the API session count.
To retrieve your store's checkout completion rate, reach out to Bold.
Bold uses the concept of an API session to track and calculate the CCR. For more information and to ensure that your CCR is calculated correctly, refer to the following section.
Defining an API session
However, some stores initialize orders when they never intend to complete the order. This can happen in a variety of scenarios:
- The merchant wants to validate the customer's email address before they enter the checkout.
- The merchant wants to pre-calculate the customer's shipping options based on their zip code or cart contents before they enter the checkout.
- The shopper enters and leaves the checkout several times before completing their purchase.
In all of these scenarios, many orders might be started and never finished, which can artificially decrease the checkout completion rate.
If you use this approach, it is important to associate each order created during the customer journey with one API session. An API session is simply a group of orders that are related, for the purpose of Bold's checkout completion rate calculation.
Tagging orders to a single API session
Each API session must have a unique
api_session_id. If you do not supply the
api_session_id, Bold generates one randomly and assumes that the order is not grouped with any others.
The following diagram and steps outline how to use the
api_session_id to tag associated orders:
- On the first Initialize Order call associated with a given customer, the merchant can choose to supply the
- Bold associates the
api_session_idwith a particular order or group of orders.
- On subsequent Initialize Order calls, the merchant applies the same
api_session_idto group them under a single session.
The value you choose for your
api_session_id depends on your implementation of Bold Checkout and what you consider a completed order.
The following list includes some examples of how to choose the value of your
- Use a combination of the
customer_idand a time-based value.
- Use a combination of the
cart_idand a time-based value.
- Use a string representing a cookie or similar data in local storage.
- Use a string from analytics software that already tracks a customer's journey through the site.
The moment an API session is started has a large impact on the CCR. Ideally, begin your API session at the moment the customer clicks the Checkout button. Starting a session at a different point changes the meaning of the calculation.
After implementing these steps, you can reach out to Bold again for an updated CCR calculation.
This process is intended to improve Bold's calculation of the CCR only. Using the
api_session_id does not ensure that CCR calculations from external analytics partners are correct.