Increasing traffic to a site is not the only job of an internet marketer. Increasing business through improved conversion rates should equally as important. The type of conversions and motives depend on the clients niche
2. What is a KPI?
A KPI is a key performance indicator
which is a measure of a process,
event or activity. There are a lot of
ways to measure your ecommerce site
but here are our top 10 KPI’s for
ecommerce.
3. Sales Key Performance
Indicators:
Hourly, daily, weekly, monthly,
quarterly, and annual sales
Average order size (sometimes called
average market basket)
Average margin
Conversion rate
Shopping cart abandonment rate
New customer orders versus returning
customer sales
4. Cost of goods sold
Total available market relative to a
retailer's share of market
Product affinity (which products are
purchased together)
Product relationship (which products
are viewed consecutively)
Inventory levels
Competitive pricing
5. Marketing Key Performance
Indicators:
Site traffic
Unique visitors versus returning visitors
Time on site
Page views per visit
Traffic source
Day part monitoring (when site visitors
come)
Newsletter subscribers
Texting subscribers
6. Chat sessions initiated
Facebook, Twitter, or Pinterest followers
or fans
Pay-per-click traffic volume
Blog traffic
Number and quality of product reviews
Brand or display advertising click-
through rates
Affiliate performance rates
7. Customer Service Key
Performance Indicators:
Customer service email count
Customer service phone call count
Customer service chat count
Average resolution time
Concern classification
8. Important 5 - Conversion Rate
Each person who visits a store is a
potential customer, in the same way
every visitor on an an eCommerce site
is a potential buyer. A successful
eCommerce store is one that converts
a high number of visitors into buyers.
9.
10. Days and Visits To “Purchase”
Many of us may have seen these
metrics in Google Analytics, but most
of the time they go unnoticed.
Why are “days” and “visits to
purchase” great KPI’s? They help us
understand the customer’s on-site
behavior i.e. how long it took someone
to complete the desired action on the
website.
11. Visitor Loyalty
Visitor loyalty is one of the Key
Performance Indicators. It allows us to
measure if people visit your site
repeatedly and if they do it more
frequently. In the case of eCommerce
sites, this metric will help marketers to
analyze the visitor loyalty and also
help to analyze the days needed for
the conversion.
12. In-Page Analytics/Event
Tracking
In-Page Analytics can give you insight
into everything that occurs on your
page. In-page analytics is great at
showing the percentage of clicks on
the page. Marketers can use this KPI
to measure the clicks through various
navigation tabs in site and estimate
the traffic in each area.
13. Identifying the Mobile Visit &
Conversion Rate
In 2013 mobile is king, we have see
many predictions which clearly
demonstrate the importance of the
mobile-friendly sites (either,
standalone or responsive sites).