“When you have eliminated the impossible, whatever remains, however improbable, must be the truth.” – Sherlock Holmes
That’s why, we at TeamSuccesso cherish eCommerce marketing. In case you haven’t noticed, there is indeed a method in this madness. In this blog, we are sharing with you five metrics every eCommerce entrepreneur should track to help eliminate the impossible and define a method in this madness.
Conversion Rate for Online Store:
Define success by measuring the conversion rate, a crucial metric indicating the percentage of users making a purchase compared to the total visitors. Google Analytics or Firebase for Analytics can aid in tracking this metric.
Highlight the importance of optimizing the customer journey within the online store to bolster conversion rates.
Sales Funnel Analysis:
Offer a macro view beyond conversion rates by dissecting each stage of the sales funnel.
Emphasize the significance of identifying and rectifying high drop-off stages for a comprehensive understanding of the customer journey.
Traffic Acquisition:
Address the critical question of how the online store is discovered by evaluating digital presence and the effectiveness of various traffic acquisition channels.
Recommend utilizing Google Analytics to measure and map traffic acquisition channels, enabling informed decisions on advertisement budgets.
Engagement Metrics:
Stress the importance of tracking engagement through click-through rate (CTR), bounce rate, and average time spent on your online platform.
Provide insights on interpreting these metrics to gauge the effectiveness of creatives, user-friendliness, and visitor interest.
Cost per Acquisition (CPA) and Lifetime Value of Customer:
Explain the concept of CPA and its significance in customer acquisition cost.
Advocate for understanding the lifetime value of a customer to make informed decisions on an acceptable CPA.
At TeamSuccesso, we specialize in helping eCommerce companies enhance their online presence and boost sales across platforms like Amazon, Flipkart, etc. If you are interested in exploring how we can contribute to your success, please feel free to reach out.
Thank you for your time and consideration.