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6 Vital KPI’s You Must Track On Your Website

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Key Performance Indicators (KPI’s) are measurements that reflect the performance, event, activity and progress of a business. For example cart abandonment or checkout abandonment, when a customer leaves the website before completing an order. This KPI is monitored by almost all eCommerce businesses. By monitoring the KPI daily, we can reduce the risk of losing business.

The KPI help an online store to measure the effectiveness of the data and then use this data to optimize e-business. KPI’s use data and analytics to show how well e-Commerce website meet their target goals, what things work, and what doesn’t.

Let’s see the 6 best KPI’s which every business should track on their website

1. Conversion Rate

The conversion rate of a non-eCommerce site is different from that of an eCommerce site, but yet it is one of the most important KPI. For a non-eCommerce site, Conversion Rate is a primary metric for measuring how well marketing, site and content perform together to achieve the business objective. Conversion Rate is the percentage of visits that result in the visitor taking an action that you have defined as important to your business.

Every website has a pre-defined goal. It may be of different nature like: to contact the organization, to fill in a registration form or to purchase a product. In case of blogs, the goal may be to subscribe to the RSS feed. Thus, goals differ for every website.

The Conversion rate is one of the most effective KPI that help to monitor the goals of the website. It is the rate at which the visitors gets converted into a customer. If your website has a high conversion rate, then it indicates that you have a considerable amount of customers who act according to your wishes on your website. To achieve a high conversion rate, your site should have the perfect mix of quality web traffic, managed customer experience, and right product offerings at the right time to the right customer.

The conversion rate KPI extracts the best value from the website. Google Analytics provides enormous stats of all the factors that affect the conversion rate. The most important factor which influence the conversion rate is customer experience when they reach your website landing page. It’s like a new customer is visiting your retail store for the first time and how well can you guide the person for what he/ she is actually looking for. Improvement in website landing page, making your page less crowded and informative to the point, leads to good customer experience and it also improves conversion rate. If your conversion rate is poor don’t blame it on low traffic or on any particular period of the year.

For an eCommerce website, the best way to know your conversion rate is by doing A/B test, target 50% of your customers and check their behavior on your website. It will help you to know whether your online store is really helping the customer to complete a desired action. Check your call to action buttons which drives the customer to the next step.

2. Average Order Value

How will you know if your revenue is growing? Is it because of more purchase from new visitors? Or repeat purchase from returning visitors? Or an increase in Average Order Value? To get answers to these questions, you need to keep track of your AOV. AOV is one of the most important metrics which tells you about the shopping cart performance. It gives you an idea about how well the cross/up-sell is performing. Generally cross-selling and up-selling helps to increase the AOV. Many eCommerce sites monitor this metric to see if cross promotions are working. This is an important metric that works its way into many higher-level executive and shareholder reports.

3. Site Traffic

Site traffic means the amount of visitors and visits in a website. Increasing website traffic takes time, luck and skill. Website traffic is very important, without it neither you can increase conversion rate nor your AOV. Companies focus on increasing their website traffic by creating attractive landing page, running email campaigns, advertising the products with discounts and once the customer lands onto the website they try their best to convert the visitor into a customer by incentivising them. Online shopping sites use different tools to track the customer behavior and then target them accordingly.

4. Page Views

Page views, in other words, are also known as an impression. After the visitor reaches your website, they browse through the product page, it is important to track the page views because it helps you to know which products or pages have been viewed a number of times. It gives an insight of the customer interest. Visitor view 2.5 pages on an average. Each page viewed by a visitor is tracked as page view.

5. Cart Abandonment Rate

Average cart abandonment rate is 67.91%. It is important to know why your customers abandon the cart after adding items to it. The cause of cart abandonment is:

  • Checkout process is complicated
  • Limited payment options
  • Hidden price like tax, shipping charges at checkout page
  • Lengthy registration process
  • No checkout option without signing up

Try to reduce your cart abandonment and your conversion will increase.

6. Bounce Rate

Bounce rate determines how many customer leaves your website as soon as they enter it. For a retail shop, it is like entering into a store and leaving without going around through the products displayed. Why does this happen? Maybe because the customer did not like your collection or your store was too clumsy or both. Same is the case with an online store, the look and feel of the website matters a lot, eye- catching collection will make your customer stay and browse through your store. Making website crowded with images and unnecessary information irritates the customer and they tend to leave as soon as they enter. The right amount of information with right images will help your customer relax and browse slowly through your website, without bouncing.

  • web-analytics

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