When you run an ecommerce website, there are a dozen or more things you need to keep track of regularly. These metrics will help you sell more, reach out to a broader audience, and directly impact your bottom line. Though there are quite a few frequently measured metrics, including average order value, cart abandonment rates, and conversion rates, there are three critical metrics that you need to keep track of regularly, irrespective of the product or industry.
Instead of focusing on just the best and worst selling products on your website, dig deeper and look at how products are faring category-wise. There may be specific categories such as books, women’s apparel, gadgets, home appliances, etc., that are pulling in a lot more revenue when compared to the others. Once you uncover this, look at conversion rates based on campaign, keyword, and channel. This way, you can create more personalized marketing campaigns and also identify what categories might need a little extra attention to convert.
Pages Per Visit
Monitoring the traffic to your site will help you understand how effective your search engine optimization (SEO) is and how well your marketing campaigns are performing to bring in visitors. But when you analyze which pages are getting the most views and how much time visitors are spending on a page, you’ll gain actionable insights into how customers are engaging with your website and whether it’s optimized to its full potential. An emphasis on user experience and intuitive navigation can go a long way to improve the engagement rate and increase sales.
Monitoring the items’ added to cart’ is commonplace, but take the time to do the reverse as well. Suppose you see that a particular product is getting a lot of removals. In that case, you may want to consider altering the price or offering it as a packaged deal with a complementary product. You could also send out follow-up emails with a promotion or discount to customers who removed the product from the cart before checking out. The biggest challenge is figuring out why product leaves carts. Once you know that, you can adjust your strategy to make sure it stays in there!