You may have come across the term “metrics” as a way to measure the success of a particular aspect of a business. When it comes to eCommerce, metric analyses become even more significant because you want to achieve the best possible results via your online sales, and as a result, you will want to capture as much data as you can to help tailor your marketing strategy to get sales even higher. But there are so many metrics to consider that it’s sometimes hard to know where to start, which is why we’ve decided to pick out the most important eCommerce metrics to focus on.
One of those concerns advertising, but it is not as simple as merely saying that you should keep an eye on your adverts. You can find out how often your ads are clicked, and in what areas should they be on more than one platform. You could determine whether ads situated in a particular position or presented in a particular size have greater success. You could identify the time of day when the ads are at their busiest, as well as the locations where the ads are being picked up more often. And you could work out how many of the users who have been clicking the adverts are returning to the site in the future. The click-through is the key figure, since this ultimately defines the ratio between impressions and subsequent web visits, but it is only one of a range of fascinating metrics that can come via advertising.
Storefront metrics are also valuable, with your business presented as if it were a physical shop, and with crucial figures taken from subsequent analyses. One of these is the bounce rate, which looks at the idea of customers making a brief visit, and what the percentage of these visitors are (a low percentage is positive). Then there is customer retention; not unlike the final point regarding advertising, this spotlights those who keep coming back again and again, the regulars so to speak, and how many of your visitors are repeatedly taking a look at what you have to offer.
And then we have cart abandonment, which focuses on those who stop right before buying a service or product, with behavioural trends picked up on to work out why this would happen and how to prevent it happening again in the future. Your website is essentially a virtual store, so it makes sense to have metrics which view your business in the same manner.
Lastly, we have to give a mention to shipping, the post-purchase process that is actually the most important stage of all. Sure, a customer has bought your product, but what if they don’t like it, or what if other issues are encountered after a sale? Inventory is part of this, which is self-explanatory and covers the availability of your products, which depending on the size of your business may lead to some unwanted headaches if you run short of a popular item.
Delivery is crucial, because once a visitor buys a physical product, they want it as soon as possible, and though it can’t be delivered to them instantly, there will be a set number of days that can make the difference in their mind between a quick transfer and a long, drawn-out distribution. And of course we have the post-delivery feedback, consisting of customer reviews about both the product and the supplier, as well as the return rate, which will hopefully be minimal; a high return rate is something that can set alarm bells off, because it not only means that the products are back where they came from, but the customers who bought them (especially first-time buyers) may not use your services again.
These are just a small sample of the most important metrics to be considered for an eCommerce business. Learn more about this topic by heading over to our website, which is www.breezedevelopment.co.uk.
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