Key Performance Indicators to Watch
Four more KPIs to help you judge your eCommerce performance
What is a KPI?
A key performance indicator (KPI) is a measurement of how well your eCommerce website functions. KPIs are meant to give the marketing team and executives insight into the eCommerce website's performance. KPIs are able to help you identify potential and small problems before they can become large issues. They can also assist you in determining your eCommerce site's strengths that you can build on and weaknesses that you can correct or improve. KPIs let you in on your customers and potential customers’ buying behaviors. KPIs are usually available through your eCommerce platform. Clarity eCommerce provides our clients with numerous KPIs to help companies better understand how their eCommerce site is performing.
These four key performance indicators will help you examine your eCommerce sites performance and strategize how to make your business thrive.
One of the best things to know about your customers is how they got to your site. Are your customers using Google to find you? Are there any blogs or people on social media that are recommending your site? Are the ads that you are currently paying for actually working? Knowing where your customers are being referred from can help you decide where to invest your marketing dollars and which campaigns you need to scale back on because they aren’t as successful.
Product Page Visits
Which of your products’ pages are getting the most views? What product are people viewing but not buying? What product pages are getting the least views? These are all important questions that the product page visits KPI help you answer. The answers to these questions can help you decide what products you need to advertise more for. It can also lead you to further investigate why people are looking at a product but not buying it. This KPI may even help you decide whether or not to remove certain products that are receiving poor page views.
Time on Site
The time on site KPI refers to the length of time that a customer spends browsing and buying items on your eCommerce site. This KPI can tell you if customers are staying on your site awhile and browsing, or if they are leaving the site quickly. If customers are staying on your site awhile but not buying, this information could help you to learn why potential customers aren’t buying, whether it is an issue of pricing or a confusing checkout process. Another possibility is that users are not finding what they expect to find on pages they are visiting. For example, if someone clicks on a Google AdWords ad after searching for "winter boots" but the landing page is hiking boots, they are likely to leave immediately. This should lead you to create more specific ad campaigns to help users find what they are looking for. If site visitors are leaving your site quickly, this data may be the push you need to make your eCommerce website more inviting, intuitive, and predictable.
This KPI measures how many of your eCommerce site visitors are returning visitors or costumers. Are your previous customers continuing to buy from your eCommerce site or are most of your site visitors new? If the data shows that the latter is the case, your customer relationships and service may need to be looked at and possibly improved upon.
Clarity Can Help
Clarity’s eCommerce platform dashboard is able to provide you with these four essential KPIs, plus numerous others that will help your eCommerce business thrive. Our eCommerce platform was built to help businesses succeed and our dashboard gives you the tools to help you strategically manage your business. To find out more about how Clarity’s eCommerce platform can improve your site, call or click to contact us today!