Every e-commerce business requires an avenue for measuring performance in relation to goals achieved. KPIs are also similar to milestones as they track the progress of your business to check how effective your methods are. If positive feedback is gotten, then you’re doing something right, if not, then you might have to review your methods. Below are 10 key performance indicators for your e-commerce business.
This can be measured by daily, weekly, monthly or annual sales.
2) Average Size of Orders:
A useful KPI to set is one that monitors the regular number of orders you receive.
3) Cart Abandonment:
This happens often when online shoppers tend to abandon their shopping cart before completing a purchase. The shopping cart abandonment rate needs to be closely monitored if the rate increases then it most likely that there is a fault on your website.
4) Total Visitors Accrued:
You need to have a good idea of the total number of visitors that come to your site.
5) Site Traffic:
The higher the level traffic directed to your website, the better. If the numbers drop, be sure to make a few necessary adjustments.
6) Newsletter Subscribers:
The more people subscribe to your website, the more products you are likely to sell. The number of subscribers also determines those who are interested in your business.
7) Social Media Followers:
Are your social media accounts attracting enough followership? If not, try to change up your content and post interesting news.
8) Blog Views:
If you run a blog alongside your website, it will do a lot of good to have subscribers or regular visitors.
9) Product Reviews:
This is an important KPI which shows customer satisfaction and can in turn attract more customers to purchase your products.
10) Source of Website Traffic:
If you can locate where your traffic is coming from then you know where to target your adverts and promotions.
In conclusion, KPIs are a necessity to your e-commerce business and will help you to keep ahead of any changes or modifications necessary.
At Libra Web Solutions, we are always willing to help. To learn more about how KPIs can effectively boost your ecommerce store, visit us today on our website.
Libra Web Solutions is a reputable Ecommerce solution specialist that has transformed 75+ ecommerce ventures worldwide. Our services include Weekly Web Sales Report Generationand our team of experts are always willing to respond to your business needs with efficiency and quality.