Are you just starting out with your e-commerce website and software? If so, you have likely already realized just how important it is to track your website’s performance to be successful. The following are the top 4 e-commerce website metrics that will help you track the inner workings, from how people visit to how they navigate and convert.
- Conversion Rate
When determining how effective your website is at driving sales, the conversion rate is the most important statistic to measure. Finding your conversation rate is pretty straightforward: What percentage of your website visitors actually purchase a product? While driving significant traffic to your website should be your goal, it is also important to measure the conversion rate. Without it, it will be difficult to optimize your website for sales.
According to Jimmy Rodiguez, Chief Operating Officer at shopping cart software provider 3dcart, for every 100 people that visit your site every hour, at least two should make a purchase.
- Bounce Rate
For small businesses, driving traffic to their website can be a huge challenge. Are you driving the right traffic to your site, or is it people that are not really interested in your product or services? This is why knowing your bounce rate is key. Bounce rate is measured as the percentage of website visitors who leave without clicking through to a second page. For every 100 website visitors, 64 should navigate to a second page, explains Rodriguez.
- Average Order Value
There are two main reasons why it is important to understand average order value. First, this data will help you determine if you are spending too much money gaining new customers. For example, if your average order value is $30, you do not want to spend $20 to acquire each new customer. Second, this data will help you project what the customer lifetime value for each customer could be. If you can determine how much a customer will spend every month, you shouldspend just a bit more to acquire that customer.
- Navigation Behaviour
There are analytics tools available that allow you to see how users are navigating each page of your website. Are visitors easily navigating the home page and finding links? Or are they struggling to find their way around? These navigation behaviour tools will show you a heat map that reveals where your visitors are spendingthe most time, what links they are likely to click and where they are scrolling.
Do you need additional help with setting up your e-commerce website? In addition to using e-commerce metrics, you will also need safe payment processing options for your customers. Check out the many reviews and tips Best Payment Providers has to offer. You will find a long list of the cheapest merchant services in the UK.
Author Bio:Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry has helped thousands of business owners save money and time.