You need to follow up or keep track of whether the website which you do e-commerce ( make money online, online marketing, affiliate marketing, etc,.. ) is on the right path and how much of its potential it does convert to sales with regular analyses.
Success criterias may include financial or nonfinancial criterions. Here, the point is to define your future goals and foresights and then to compare these predictions and the real outcome. After that you can define necessary and right strategies so as to achive your goals.
in Electronic Commerce some of these criterias can be listed as follows;
1.) Conversion Rate
The rate of the visitors you managed to convert into customers and it will lead you to be result-oriented and achive your goals. Here, getting thousands of visits is less important than of customers who have the potential to order product/service. In addition to periodically increases, you need to be able to analyze the probable descreases. The conversion rate that the world accept as a standard is %2.
2.) Average Cart Price
Your profits will increase as your sales increase. So when the number of visitors remains the same, if your “cart size” is increasing,that is a good sign. Moreover, as the cart size increases relatively the shipping costs will descrease hence this shopping will be perceived cheaper by the customers than before. Although the cart size increases on special occasions what is important is the overall average. you should keep track of Which campaigns affect the cart size and how
3.) Time Spent On Site
If you compare the time spent on site and the purchases, you will get the average time necessary for a purchase to be performed. (You can get to these datas using Google Analytics). The more the visitor stays on the site, the more the purchase will be performed. The data about how many visit(s) later the customer performs the purchase and through which channels they come is important in terms of visitor segmentation.
4.) Visitor Loyalty
The fact that the same person comes back and makes a purchase again demonstrates that you do your business well and the success of the service you offer. If you have low rates of loyal customers, you need to find out where the error is. The frequency of those revisits will inform you about the time period you need to update your site. You should offer a more dynamic site to your regular visitors. You can define “number of regular visitors/total number of visitors” as your success goal.
5.) Completion of Order Rate
In many online stores, it is observed that buyers give up the order for various reasons. Here it is essential to reduce the order cancellations. These steps should be followed with “Google Analytics GOAL” and fast actions must be performed for the steps in which a problem is identified.
6.) Competition
Competition can be measured. For example; by using Compete.com you can check/examine on which sites a product is searched and whether searched on that of your competitors’. At the outset of your campaigns, it is important to get visitors to come to your website by getting them to click on your site after the search results of search engines for related keywords. Another site you can use for that is Hitwise. If your site is searched above a specific level, you can make comparisons with your competitions. In this regard the most successful application is http://www.google.com/insights/search/ #
Setting Goals For Success in eCommerce and Tracking
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