You may be thinking of launching your e-commerce, or that you have already taken that step and that, at this point, you wonder if your online store is offering the expected results. In both cases you will need to know what to analyze in an e-commerce to perform a complete business analysis, from which you can draw interesting conclusions. In this article we show you 7 basic metrics to analyze in your e-commerce, with which you can measure and discover what you are doing well or in what you can improve.
The importance of KPIs or key performance indicators
Before talking about metrics, it is important to refer to the KPIs(Key Performance Indicators). It’s a reference from which we can know the performance that is being produced throughout a process and based on the objectives that have been set previously. That is, we talk about indicators of achievement of objectives defined in our strategy. The KPIs, being quantifiable and measurable, allow us to know direct data such as the number of visits our e-commerce has received, income, expenses, etc.
What basic metrics should I analyze?
Some are more conventional and others less, but these 7 metrics are key to knowing the health status of your e-commerce and to make a diagnosis of what can be improved in it.
Traffic. It is the beginning of everything. Without visits there will never be conversions. Although we must bear in mind that the traffic obtained has to be of quality, understanding by quality the fact that, for those visitors, our product is interesting. Traffic is achieved with a good positioning of the web, which is reached thanks to SEO or SEM strategies, among others. The formula to find out the conversion rate of our website, as a percentage, is to divide the number of sales by the number of visits and multiply it by one hundred.
Benefits. This metric is simple and offers a basic benefit data as a result of subtracting expenses from income. The investment of the first months in your e-commerce can undermine this data in the beginning, although the trend should be on the rise over time.
ROI. The Return On Investment reflects the profit obtained, less the investment, divided by the investment. The average ROI in our country is between 1 and 3%, but it is a highly variable data. It is a reliable indicator both of the success of our campaigns, for example of promotion in social networks or with Google Adwords, as of the moment in which our online commerce business is located.
Searcher. The search engine is the gateway to your business and one of the key points to analyze in an e-commerce. It usually represents the first interaction of the consumer with commerce and a good thermometer of how his experience turns out. Moreover, the conversion rates depend, to a large extent, on the operation of our search engine, which includes the adequacy of search filters, especially in catalogs of many references.
Usability. Usability is closely linked to the design of the web or, in other words, to the interface of your e-commerce. This usability will define the interaction that occurs between the potential buyer and the web. A simple usability, with few steps and in which good design always prevails, will increase your sales.
Inclusions in the shopping cart. Many e-commerce owners detect disparity of numbers between the data of the products that are left in the shopping cart and those that are finally sold. This may be due to many causes, such as customers detecting unexpected price increases, for example due to shipping costs, or because they have difficulty buying during the process.
Average amount of the basket. If we divide the amount of orders by the number of orders received, we obtain this data. If we compare the average amount of the basket at different times we can, for example, adjust our offers and promotions more effectively.
An e-commerce of licensed products should pay attention to previous metrics when wondering what to analyze in an ecommerce. The online payment methods, at the end of the conversion process, also play an important role in the purchase cycle. The user experience includes the use of gateways that transfer confidence, either through platforms such as PayPal, as with cash on delivery, payment by bank card or payment by bank transfer .
With these 7 examples you can effectively analyze your e-commerce to achieve success and make your business profitable online. Do not wait any longer and increase your sales!
At Cerdá we are manufacturers and wholesalers specialized in licensing products and children's characters for more than 40 years. Our products help create unique moments of happiness and that is our greatest motivation. In Cerdá we strive every day to make the dreams of our children and clients a reality. Join the Cerdá family!