What Ecommerce Metrics and KPI’s You Should Add in Your Business?

For any online business, there is a need to keep the data for every activity. It is because keeping all such stuff will help you keep in track of your business. Now you may be thinking how to keep your business in the path and how to keep a check on it? For this purpose, eCommerce metrics play a key role. You should know them and apply to your business. The five common metrics that you should add in your business

 

Check The Percentage Of Returning Customers

To get positive benefits in the business it is very important to check the percentage of the returning consumers. People want to attract new consumers while neglecting the old one. This is not good because if your customers return back to your online store its means they trust you. So, you should keep the check of the returning consumers. You should delight them and offer some attractive deals so they remain part of your store for a long time.

 

Focus On Customer Lifetime Value

It is the value that you expect each customer spend on your store. It will also help you to know how much you spend to retain your customers. It is easy to calculate customer lifetime value CLV. You simply have to multiply the average customer value per week with the average customer lifespan. Moreover, you can also calculate by multiplying factors like average customer lifespan, number of visits per week, customer expenditure per week and profit margin per customer. Try to build long term relationships so you can keep your old customers a regular visitor and buyer of your store.

 

Keeping A Check On Website Traffic

It is common observation the store with more consumers will definitely have a high sales ratio. But there is a need to keep on check on the type of website traffic. You should know either the visitors are just browsing your site or lacing some orders. You can keep a check on website traffic and it is one of the important eCommerce metrics and KPIs that will help you to set your strategy for better business growth. To improve your sale, you should implement some things in your store. For example, promote your business offer on social media, make your website SEO friendly, add subscription offer so that your audience gets the know-how about new products through emails.

 

Don’t Forget Average Order Value

Another important factor that you should consider for the growth of the business with your expectation is the average order value. It is the average value of the purchase that is made in your store. It is very easy to calculate AOV. You have to divide the average value of each purchase with the purchase made in your store. To drive up the average order you can do things like keeping the articles that your most customers love to purchase, offer free shipping or offer the discount deals. These are the most attractive ways to improve the customer in your online stores.

Ecommerce metrics are basically the key point to start your business and to take it to the next level. If you consider that you are not doing well then use these metrics and KPI’s in your business to identify issues and to resolve them.