The 5 main performance indicators for an e-commerce site (2 of 2)
Today I am completing the second and last part of the performance indicators part of my series. I invite you to read the first part of the performance analysis of an e-commerce site before attacking this article.
3 – Average order value
The average order value or shopping cart value helps to reconsider the total revenue generated by your site. Being intimately linked to the number of items purchased and the volume of transactions, it indicates the characteristics of your clientele. Indeed, your goal will obviously be to maximize all these variables, but reality will shatter this crazy dream. In fact, a decrease or a stagnation in the average order value will be rather the tests that you will have to solve periodically.
Here are some tricks to increase the average value:
– Offer free shipping when your customer purchases over $X
– Offer combinations, upsells or cross-sells
– Offer promotional days
We made a presentation on the subject at an Infopresse conference. I invite you to consult the presentation available on the Adviso site for more tips and strategies.
Don't forget to consider seasonality, periodicity and the impact of your physical store on your online sales. We must also focus on approach strategies when adding the first item to the shopping cart.
4 – The keywords searched in the internal search engine
When you activate the Google Analytics search site , you enter Ali Baba's cave because the information found there is highly relevant and even strategic. The volume of keywords searched, their long tail and the revenue associated with them tells you which products are important to YOUR customers. A rigorous and periodic analysis of these results can influence the ergonomics of your site and the promotion of certain products. In fact, you have access to a low-cost behavioral study that can dramatically change your online offering.
In addition, I noticed by analyzing the data of our customers that the visits with a search query on the site oscillate between 10 and 20%. This very significant result imposes a greater consideration of the algorithm and functions of your search engine as well as the valuation of the results pages as a generator of income.
5 – Newsletter subscription rate
I discussed the newsletter conversion rate in the lead generation section and I must say that the subscription rate is also crucial regardless of your site's business model. I can't repeat it enough, it's the ideal loyalty and sales generation tool. We notice it with our customers, the newsletter is still one of the sources that generate the most revenue. As an indication, an average registration rate varies between 2 and 4%. If yours is lower, you must start by checking 2 elements: the newsletter subscription promotion strategy and its process.