Measuring the success of any ecommerce website is relatively easy. While online sales are the primary means of determining whether the ecommerce site is a hit or miss, Rebecca Corliss of HubSpot identifies three ways to rightfully measure the success of ecommerce sites in terms of the people who visit your website.
1. Revenue is an important measure of success, both for online and offline businesses. However, for eCommerce sites whose revenues are primarily derived from online marketing and sales, there is another factor to consider – the visitors. The customer base is just as important because it helps to know who converts their visits into sales. Are your customers first-time visitors or are they repeat customers? Do they belong to a large network? What drove them to purchase products from your eCommerce store? Does your customer base grow over time? The profiles of the consumers who drive by your site is likewise important because it helps in determining what they want, what they look for, and what they expect from your site.
2. Knowing where your best customers are coming from is also an important measure of success. Do your customers come from social media marketing sites such as Twitter, Facebook or LinkedIn? Or do they come from product review sites such as ThisNext, CNet, Epinions, or ConsumerReports? This helps understand which eCommerce efforts are working or not because it gives you ideas on what visitors look for in your website.
3. Evaluate reasons behind cart abandonments. Cart abandonment, sadly, occurs most of the time as there are online visitors who will visit your site, thereby driving relevant traffic – except without completing a sale. By identifying the visitors who choose not to complete a transaction, you can follow up with them and encourage them to close the sale. These customers should be nurtured. Perhaps effective email campaigns can assist them to ultimately make a purchase from your eCommerce store. You can also increase customer base by being transparent. Offer pertinent information such as shipping rates and return policies so customers know what rates and services to expect when they make a purchase.
Now that you know how to measure the success of your eCommerce store based on the visitors who come to your site, give them more reasons to stay and complete purchases.
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