Uncovering the essential metrics to boost your e-commerce performance is one of the main steps for you to transform numbers into solid strategies.
You’ve probably heard the expression “what gets measured gets improved,” right? In the world of e-commerce, this maxim has never been more true. Anyone who works in digital marketing knows that the success of an online business depends, to a large extent, on the ability to accurately and effectively assess performance. And this is where metrics come into play.
In this article, we’ll discuss the importance of using measurement metrics to optimize your e-commerce business, as well as the key metrics you should monitor to improve your strategy. Keep reading!
The importance of evaluation metrics in E-commerce
Measuring and analyzing e-commerce performance is essential to optimize strategies, identify strengths and weaknesses, and find opportunities for organic growth.
Metrics help businesses understand the difference between making decisions based on intuition and those based on solid data. They provide valuable insights that enable digital marketers to develop strategies. With metrics, accurate insights are uncovered, providing a boost to e-commerce success.
Now that you know why you should use this tool to analyze your online business, check out the main evaluation metrics that aim to help your company.
Main evaluation metrics for your E-commerce
To maximize your results, it is important to guide digital decisions and strategies according to information shown in various metrics. This way, professionals can work on a plan that improves the performance of the online business.
Some of the main metrics that should be used in e-commerce to promote effective evaluation include cart abandonment rate, conversion rate, average ticket, return rate, and bounce rate. Learn more about each of them below:
Cart abandonment rate
Cart abandonment rate is an important metric that shows the ecuador phone number data number of users who start shopping for a product but don’t actually buy it. This metric helps businesses identify the reasons for abandonment and provides insights to create strategies that optimize the shopping experience, resulting in the recovery of lost sales.
Conversion rate
To find out whether visitors are taking the desired action, you need to use the conversion rate. As it is one of the most efficient metrics, this tool helps companies know whether their website is user-friendly and whether the right consumers are being found.
Average ticket
With this metric, e-commerce discovers the average amount spent by each consumer on a purchase. Therefore, using this indicator is essential to boost business revenue.
Rate of return
The return rate shows how many customers are returning to buy again from your e-commerce business. A returning audience is valuable because it costs less to attract them than to acquire new customers.
Bounce rate
The last metric that should be used in your e-commerce is the bounce rate. Although it is often associated with content marketing, this tool is also relevant for online stores.
The bounce rate indicates how many people left your website after viewing just one page, which in the vast majority of cases is the home page.
To reduce the number of bounces, you need to improve the usability and content of your website, among other actions.
Once you know the main evaluation metrics for your e-commerce, the next step is to know how to implement them in your business. That’s why we’ve brought you three essential tips to help you achieve success in this stage.
- Board index
- All times are UTC
- Delete cookies
- Contact us