18/11/2020
➡️Here are 7 metrics that you should be considering in order to grow your Ecommerce Business:⠀
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🔹️Sales Conversion Rate⠀
It is the percentage of people who visit your online store and who make a purchase.⠀
Fast website, high quality images of products and optimised product descriptions are key factors to increase your Sales Conversion Rate.⠀
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🔹️Website Traffic⠀
It is basically the number of people who visit your online store. Higher your traffic, higher are the numbers for a new potential client. To get even more traffic, consider doing Social Media promotions and SEO.⠀
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🔹️Average Order Value⠀
It is the average of how much your buyers are spending per order. It allows you to figure out how to get people to spend more on the purchase they make. You can improve your AOV by offering free shipping for higher purchases and discounts on minimum purchases.⠀
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🔹️Revenue on Advertising Spend⠀
It Informs how effective your investment in online advertising is performing.⠀
To make your marketing campaigns effective, you need to increase the ROAS. Optimise your ROAS by testing multiple channels to find the RIGHT one that matches your needs.⠀
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🔹️Email Opt-in Rate⠀
Email marketing continues to be one of the most important tools for ecommerce.⠀
The email opt-in conversion rate can be improved by giving your customers something extra by subscribing, offering deals and discounts on products.⠀
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🔹️Customer Acquisition Cost⠀
It is the average cost of gaining one customer. You can improve your Customer Acquisition Cost by improving your sales conversion rates, optimising your advertising campaigns and investing in organic marketing like SEO and Social Media.⠀
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🔹️Shopping Cart Abandonment Rate⠀
It is the percentage of shoppers who add products to their cart but ultimately leave your store without completing the purchase. Optimise your Abandonment Rate by providing guest checkout options, remarketing ads and sending Automated Emails.