Business decisions should be made bas on performance and KPIs should lead to action.
Key performance indicators (KPIs) are the milestones on the road to success in online commerce. Monitoring key performance indicators (KPIs) can help ecommerce entrepreneurs track their progress toward sales, marketing, and customer service goals.
What is KPI in Ecommerce?
A KPI is an easily measurable number or data point us to evaluate performance against a goal. For this goal, performance indicators might be the number of daily visits or traffic sources (contextual advertising, search engine optimization or display advertising, YouTube videos).
For some goals, there may be many performance indicators—sometimes too many—so they are often narrow down to two or three significant data points. KPIs are the values that most accurately and clearly show whether the business is moving toward the goal.
Setting goals and defining KPIs
32 Key Performance Indicators (KPIs) for Ecommerc
efining KPIs starts with clearly defining your goals and understanding which areas of your business impact them.
Here are a couple of examples of goals and associat KPs
1. Increase sales by 10% in the next quarter.
To increase sales, monitor daily revenue and order volume. Launch promotions or increase advertising on slow days. Evaluate conversion: how many site visitors turn into buyers? If conversion drops, look for a problem on the site – perhaps something is scaring people off at the purchase stage. Increase traffic: work with advertising and social networks to bring more people to the site every day.
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2. Increase conversion by 2% next year.
Increase conversion: see how many people buy from those who visit the site. Track how many of them abandon their purchases at the shanghai-hong kong stock connect data basket stage. Understand what stops them: high shipping costs, a long order form, or no convenient payment methods? Find the best conditions, remove unnecessary steps. Keep an eye on your competitors: if they have free shipping and you don’t, customers will go there. Adapt.
3. Increase website traffic by 20% over the next year.
Your task is to bring more people to the website. See where they come from: search, social networks or advertising? If traffic from phone number mx social networks is falling, review the content, make it more interesting and useful. Increase the CTR of advertising: change texts and images, test new formats. See where people quickly leave – improve the pages, add clear and understandable calls to action.
4. Cut customer calls in half in 6 months.
Understand why customers call. What didn’t they find on your website? If most calls are about delivery or payment, improve the information on these pages. Ruce steps: make instructions clearer, add a chatbot or pop-up tips. The fewer questions a customer has, the fewer calls they make.
It’s easy to see that there are many performance indicators, and their value is directly relat to measuring progress toward the goal.
On a measurable goal allows us
To identify a set of common performance indicators for the e-commerce space. Here are 32 key performance indicators for Ecommerce.
An online clothing store complain about weak evening sales: in the morning they reach 250,000 rubles, in the afternoon – 350,000, and in the evening – a miserable 120,000. The owner decid to figure out what was wrong. The owner did not get confus – he launch an evening discount of 15%, add free delivery and reconfigur advertising for the evening. Customers began to order after work. The problem was solv: sales level off, income increas, and the evening was no longer a failure.
The owner of an electronics store realiz that customers were buying one item at a time, and the average bill was stuck at 5,000 rubles. He decid to act: he offer a 20% discount on the second item in the basket. Customers immiately start adding accessories — cases for smartphones, mice for laptops. The bill grew to 6,500 rubles, and the warehouse began to clear out stale little things. The promotion work: the store earn more, and customers left with a profit.
3. Income per visit
Revenue per visit is how much money one visit to a website or store brings in. Is revenue falling? Look for the problem: the product doesn’t grab the attention, the website is inconvenient, there are too many steps to purchase. Change the assortment, improve the storefront, and your revenue will go up.
Example:
The electronics store’s revenue per
Visit fell from 300 to 200 rubles. It turn out that the site was loading slowly, it was difficult to find the necessary products, and placing an order was inconvenient. The owner solv the problem: he simplifi the main page, accelerat loading, and remov unnecessary steps in the shopping cart.
4. Conversion rate
Conversion is how many of 100 visitors made a purchase. 10 bought — 10% conversion. If the numbers are low, fix it: simplify the design, add reviews, remove unnecessary steps. Conversion is growing — it means the site is doing its job.
Example:
The online store had a 5% conversion rate: out of 100 visitors, only five made purchases. The owner realiz that people were abandoning their carts at the checkout stage. He remov unnecessary fields, add convenient payment methods and product reviews.
