Any online store needs to use metrics to quickly know its performance. The advantage phone number list with name of this is that you can know up to the minute what is happening with sales and how customers are moving. However, there are many metrics and not all of them are key to knowing the performance of an e-commerce. There are even many that, despite offering excellent results, do not provide real information about the performance of online sales.
Precisely, we refer to clicks, impressions and other similar metrics: although they may seem very good, they are not really offering an accurate picture of the end of any e-commerce, which is ultimately sales.
In any case, more than knowing how many visitors the page had, what you need to know is how many bought, or how much each visit cost. Therefore, here we comment on the most important metrics to take into account to analyze the performance of an online store.
Cost per Acquisition. This is one of the main KPIs to take into account for an e-commerce: Cost per Acquisition (CPA) refers to what it costs to acquire a customer. Whichever way a customer reaches the online store, it will have had a cost. Although it comes from an organic search, this will also have had a certain cost. Knowing exactly how much it costs us to acquire a client is fundamental in our strategy.
Lifetime Value. This metric, gulf email list also called Lifetime Value (LTV), is the one that calculates the net value of the income that each client generates during the time that they remain as our client. The LTV complements the CPA, since they are metrics that must be analyzed together so that they acquire their full meaning. For example, if a client’s CPA is 100 euros and his LTV is 500 euros, there will be a considerable difference. But, if in another case, the CPA is 100 euros anyway, but your LTV is 105, the difference would be only 5 euros and you will have to quickly take action on the matter. In any case, what matters is that the LTV is greater than the CPA.
Shopping cart abandonment. This metric refers to the number of times people abandon the shopping cart after placing items in it. It really is a somewhat “annoying” KPI, but it can say a lot about an online store. In fact, the analysis of this metric can give clues as to what causes the customer to abandon the process. The causes can be varied, for example a long purchase process, or an expensive shipping cost.
Average order value. This metric shows the average order size of an online store. It is done by making an average between all the orders placed during a certain period of time. This KPI shows whether taking orders from new customers or focusing on existing customers is more effective. This is because acquiring a customer has a cost. So in most cases it will be better to increase the average order value and not the number of customers.