The most successful online stores track their eCommerce metrics with an obsessive interest. That is what gives them 360-degree control of their business. But, it can be hard to zero in on the right metrics that will give your efforts a proper direction. That is why we compiled this list of top eCommerce metrics.
As the old saying goes, information is power, but it is those who use it properly, truly prosper. If you are in the business of selling products online, be it B2C or B2B or B2B2C, here are 60+ eCommerce metrics you can track, analyze and revamp your business strategies throughout.
At Ziffity we believe that eCommerce metrics is a lifeline for your business, the more you use them to measure, act and evolve, the better your eCommerce business performs, be it Operations, Marketing, Sales or Customer Service.
Sales eCommerce metrics
Daily, weekly, monthly, quarterly
Total Turnover or sales turnover is the total quantity of products sold over a period (say a year). It is usually expressed in total sold units of stock or product.
No. of orders is the order number i.e, the total number of orders registered in the system.
Average order value is derived by dividing the total sales by number of orders.
New vs Existing customer sales, compares the number of new customers with number of existing customers.
Average margin is derived by adding all the profit margins together and dividing by number of them.
Conversion rate is the total eCommerce transactions divided by (total visits on a website * 100 )
Shopping cart abandonment rate is the rate of online shoppers who add items in their cart but abandon the cart before purchase.
Total cart purchased vs abandoned is a comparison made to identify the abandoned rate.
Market share is the company’s sales revenue divided by (total sales revenue * 100)
Product affinity analysis is an analysis carried out to find the items that are purchased together frequently.
Average revenue per customer is the total revenue divided by the number of users.
Marketing eCommerce metrics
Monthly Marketing Spend
Marketing spend vs Revenue – Marketing spend is the total expenditures spent on media, production, marketing team and any investment into marketing. Revenue is the income produced by the collective marketing efforts. Marketing spend vs Revenue is an estimate to identify whether your marketing efforts are paying off or not.
Marketing spend vs Net Profit – Net Profit is the money gained after paying all expenses i.e., the difference between income gained and the cost of running the business. Comparing ‘marketing spend’ vs net profit is an estimate to identify if what you have invested in marketing has yielded profits or not.
Pay-per-click metrics (impression/CTR/etc) – Pay-per-click is an online advertising model where the publisher is paid by advertisers only when the users click on the advertisement. Click-through-rate (CTR) is the ratio of number of visitors who viewed the page divided by the number of total users.
Ad spend mobile/web – Ad expenditure on mobile platform or web platform.
Revenue mobile/web – Revenue is the income generated through mobile ads or web ads
Engagement rate mobile/web – Engagement rate is a quality measurement. It is the rate of engagement volume divided by the number of users. In an ad campaign, the engagement rate is the number of visitors who viewed the ad divided by number of users who engaged (clicked the action button) with it.
Total value offered in promotions – Sales promotions are activities that provide added value or incentives to consumers or customers to encourage immediate sales. Total value in sales promotion is the sum total of all such incentives provided to other customer.
$ Value offered by promotion type – The value offered to the customers who use a particular promotion type, say discount voucher.
Site traffic (overall/by source) – The total visitors who have landed on your website is the overall site traffic. Site traffic coming through a particular source, say, organic search through search engine (eg: Google), is the site traffic by source.
Unique visitors versus returning visitors – Unique visitors or new visitors are the first-time visitors to the website while returning visitors have already visited the site in the past. Comparing the two parameters will help infer the site performance.
Average user dwell time – The time user spends in the website is called the dwell time. Average user dwell time is the total dwell time of all users divided by the number of users.
Page views per visit – Page views is the number of views a particular page has received. Visit refers to a particular user visiting the page. Page views per visit is the total pages visited by a particular user on a single session. Page views per visit indicates how engaging the page content is.
Top product pages by views – Top product pages can be categorized based on the number of views each product page has received. This helps focus on improving visibility of product pages that have not received the expected views.
Organic search metrics – Metrics that are used to track and analyze in organic SEO (search engine optimization) efforts are collectively known as organic search metrics and include parameters such as Quality score, Click-Through Rate (CTR), Conversion rate, Cost per conversion.
Website Traffic eCommerce Metrics
Newsletter subscribers – The number of users who have subscribed to the newsletter services.
Social followers – Social followers include all users who follow the brand’s social media accounts including Twitter, LinkedIn, Instagram, Pinterest etc.
Social engagement metrics – Metrics that are used to measure how brand’s social media messages are engaging its target audience and include parameters like clicks per post, shares per post, comments per post and likes per post.
Revenue by Source (email/PPC/social/etc) – Revenue by source is a breakdown of the whole revenue by all marketing channels that include organic search, paid search and referral.
Total sales from referral sites – Referral sites are sites that recommend your site through a hyperlink. Referral traffic is the number of visitors who have come to your site from sites (sources) that are apart from search engine.
Customer acquisition by campaign/promotion – Customer acquisition includes all activities like advertising and marketing for drawing new customers towards your brand. Since this involves costs, customer acquisition by campaign or customer acquisition cost (CAC) is the total campaign expenditure divided by new customers.
Sales by campaign/promotion – Total sales revenue generated per campaign or promotion.
% of shopping cart revived thru follow-ups – The ratio of total number of abandoned shopping carts by the number of carts revived through follow-up emails.
Sales from revived shopping cart – Sales revenue generated from shopping carts that were initially abandoned, but revived through follow-up emails.
Sales by demographics (gender/age/interest) – Sales revenue split by the user’s location, gender, age and interest.
Next quarter top selling products (predictive) – Prediction of products that might make into the ‘top-selling’ category in the upcoming quarter.
Email campaign metrics (open/CTR/etc) – All metrics that assess the effectiveness of email campaigns like open rate, click-through-rate are collectively known as email campaign metrics.
Engagement rate with personalization campaigns – personalization campaigns is marketing that is targeted to reach specific stage of the buyer’s journey. The activities include messaging through multiple channels. The engagement rate with personalization campaigns is the number of visitors who viewed the ad divided by number of users who engaged (e.g: clicked the action button) with the campaign.
Product reviews (day/month) – The frequency of product reviews received on a daily or monthly basis.
Drop-offs by stage (journey) – the metric which calculates at which stage in the customer journey that the particular customer loses interest.
Average Clicks to Buy (CTB) – The number of times a buyer clicks for a successful checkout is Clicks to Buy (CTB). Average CTB is ideally expected to be around 4 or 6 clicks to complete purchases.
Heat maps for all pages (find patterns) – Heat map indicates where a site visitor spends maximum time on a particular page. Finding patterns from heat map for all pages help optimize the pages for enhancing user engagement.
Top 5 Journeys used for buying – Finding the top 5 customer journeys that users have followed and ended up buying your product, solution or service.
Least used journeys for buying – Finding the customer journeys that users have rarely used when making a purchase to know what can be improved.
Last interaction attribution model – Attribution model is the set of rules that determine how sale is credited and conversion is assigned to touchpoints in conversion paths. Last interaction model assigns 100% credit to the last touchpoint (click) that immediately preceded sales or conversion. First interaction attribution model – First interaction attribution model provides 100% credits to the first touchpoint (click) in the conversion path.
Assisted Interaction – Assisted interaction is a way to categorize a channel in Google Analytics. It is the number of sales and conversions a specific channel played as ‘assist role’ for that conversion. The higher the revenue generated from the specific channel, the higher is its assisted interaction.