Monitor and manage your business’s e -commerce success indicator

If everything is important, then nothing is important. This is why you need to determine the best index of e -commerce to measure your business.

To ensure your e -commerce business as successful as possible, you need to understand the indicators and reasons to be measured. Then, you will make all business -related decisions based on the data, not just an intuition or casual observation.

Continue reading to understand the top e -commerce indicators.

What is an indicator of e -commerce success?

E -commerce success indicators are the data you track to determine the performance of online business. These numbers tell you whether your business is doing well. You can then use these data to make marketing, promotion and other business decisions.

Why is it important for e -commerce success indicators?

Without data, you don’t know what it works, what needs to be adjusted, or where you should re -assign resources. In order to develop your e -commerce business, you need:

• Set the measured target (referred to as key performance indicators).
• Learn how to measure these KPIs.
• Monitor KPI and adjust as needed.

10 most important e -commerce success indicators

You can measure many business -related data. Although you may be sure that other e -commerce success indicators are essential to monitor your business, you should pay close attention to the following indicators.

1. Sales conversion rate

The most important monitoring indicator is the sales conversion rate It tells you how many percentage websites are purchased. Most analysis tools provide conversion rates. You can also manually calculate it by dividing the number of customers who purchase products with the total number of website visitors. A good conversion rate is 1-5%.

2. Email subscription

Email marketing is a great tool for e -commerce stores, because it can make you with customers who have purchased or have interest in your products keep in touch. You can contact them through future promotion activities and encourage purchases. The income of marketers using segmented advertising series increased by 760%. The easiest way to track email subscription rates is to use the built -in analysis in email marketing tools.

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3. Customer lifelong value

This is an indicator of how much income you earn in the life of a typical customer life Essence This number tells you how much you can get to get customers and retain them. To determine this number, add the income from the customer (the annual income multiplied by the average customer life), and then subtract the cost of obtaining them.

4. Customer acquisition cost

Measure the average cost of obtaining new customers. You hope your purchase cost is lower than your average order amount, so you can make money from each new customer. Calculate this indicator by removing your total marketing expenditure with the number of active customers.

5. Repeat purchase rate

You want to retain existing customers. Repeat the purchase rate to measure the number of times the customer returns to your store for another purchase. To determine this number, remove the number of returned customers with the total number of customers.

6. Revenue divided by the flow source

Some traffic sources transform more visitors than other traffic sources. This is where you want to spend money. Follow the sales of each media and determine how much sales are obtained every 1,000 clicks of each source.

7. Average order value

This indicator is the average value of each purchase. To determine it, remove your total sales in the number of shopping carts. The goal is to increase the consumption amount of each customer.

8. Product return rate

Only permanent sales can help. The product return rate tells you how many units and how many units are returned. You can measure the return rate of the overall sales and a single product. These measures can help you understand which products are more successful, and you may want to delete from your products.

9. Loyal customer rate Your loyal customer is your most valuable customer. customer of. They like your products, they will buy more products and recommend your products to their friends. Your loyal customer rate tells you how effective you are in attracting and motivating customers. To determine this ratio, remove the number of returned customers with the total number of customers.

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\u0026 gt; \u0026 gt; 10. Shopping car abandonment rate Measure how many shoppers add the goods to their online shopping carts but have never purchased products. You can use Google analysis to track this number. You want to minimize the percentage of people who leave the items in the shopping cart.

How to choose the correct e -commerce indicators to monitor your business

Although you can measure many things related to your business, it is important to consider which indicators are for what you want you want you want Business results are important.

You can monitor the above indicators and determine which areas to increase or decrease (depending on the way of improvement) Then set KPI in these areas. You will then continue to check and monitor these indicators at least monthly and adjust your goals as needed. If you are still trying to find out which indicators are most important for Your

business, please consider:

Impact —— ] If the indicator changes, how much will it affect your company’s bottom line? If the improvement index is not worth it, it is not worth monitoring.

Objective-
• You should set strategic goals for your company. Focus on changing indicators to support these goals.

scale ——

• Some indicators are interconnected, which means that improving one indicator will automatically improve other indicators. If you can improve multiple indicators through small movements, this may be worth it.

How to use e -commerce success indicators to manage your business

• Measure the index and determine where to change, you need to know how to make these changes. The following is how to improve each indicator listed above:

1. Sales conversion rate You want 1-5% of the customers on your website to buy. Of course, the higher the percentage, the better. To increase this 100 points, please use content marketing to let more people understand your company and its products, establish a list of email marketing, or use the promotional pop -up window to provide discounts when the shopker access your store. 2. Email subscription

To increase your email list, please promote the list through the pop -up window on your website and social media account. If the shopper registers to receive future emails, it provides promotions (such as 10%).