Ecommerce Tips – 10 Important Metrics for Online Shops
For one reason or another many online shop owners do not carefully examine their online shop statistics. But e-commerce traffic statistics significantly differ from let’s say news website one.
You need to perform a deeper analysis of statistic data, to generate and track indicators that affect sales, to clearly understand where customers are coming from, what items are in demand, where and why your visitors refuse to purchase, etc., this knowledge will allow you to correct mistakes and increase sales.
We determined 10 important metrics the measurement of which allows us to estimate the level of website effectiveness in E-commerce field, we list them below.
The Cost of Customer acquisition
There are many ways to attract visitors to your online shop, but they all cost money. The lack of data on the visitors cost for each channel prevents the measurement and comparison of channel effectiveness. In result it may happen the cost of customer acquisition is higher than the profit it brings.
The customer clicks on a beautiful button “Add to cart” proceeds to checkout page … and refuses to buy. Maintaining the statistic of uncompleted orders allows us to understand what exactly the problem is, and look for ways to solve it.
The goal of A / B tests is identified changes in content on the webpage showing visitors different design options and then comparing results. Instead of guessing what works and what does not, just conduct a similar experiment.
Profit from a Visitor
The e-commerce owner needs to know how much income brings him every visitor in average. eCommerce software providers Comalytics told us that with this knowledge it will become clear how this will affect the increase of conversion rates.
It’s about revenue from each customer over its “lifetime” as your client. It may happen that you spend 10$ on acquiring this client, and during a month he will purchase goods on 1000$ in your online shop.
The obvious point because it is not enough just to increase traffic to the website it is necessary to focus on its quality. Only quality traffic from interested visitors can generate sales.
It is the percentage of the total visitor’s number who have committed a certain conversion action. In the case of an online store it is an ordering process, of course. Conducting various experiments with simultaneous measurement of their influence on the conversion, may help to significantly increase the amount of sales.
ROI – Lead sources
An advertising campaign on the Internet would include a tracking ROI of every source used that generates lead. This allows you to increase your ROI and to focus on the most promising areas development.
This term is understood the path tracking client from first contact before ordering. Understanding on which stage the client makes the sale and where it begins the process of attracting, can greatly assist in the development of business.
If your site is not optimized for mobile devices keep in mind that you have a serious problem. In some e-commerce areas conversion rates from mobile devices is constantly growing, and you may be very surprised looking at the report in your Google Analytics account.