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Important Metrics to Boost Ecommerce Sales Conversions?
Online business is solely dependent on how good are your ecommerce sales conversions. Those that enjoy good high ecommerce conversions gain large profits while some still struggle to reach that average or above average benchmark.
Effort to get good ecommerce sales conversions starts from the very beginning of ecommerce website development. Did this statement confuse you? Wait back, this blog will navigate you through different metrics that impact ecommerce sales conversions rate.
But before we jump on how to increase the overall conversion rate, let’s first know that this ratio is not a fixed number. It varied depending on the industry and group of target audience. For example, ecommerce website development for men/women apparel would definitely have higher conversion rate than the one selling home furniture or electronics.
Following graph shows the latest ecommerce sales conversions for all four quarters of 2016:
There are several ecommerce matrices that helps you to boost your sales conversions like:
- Time on Site (TOS)
- Exit Pages
- Average Order Value (AOV)
- Repeat Customer Rate
- Conversion Rate
- Type of Users (Mobile Users / Desktop Users)
- Page Load Times
- Traffic on Ecommerce Store
- Landing Pages
- Customer Lifetime Value (CLV)
- Time to Purchase
- Average Transection Value
- Cost per Conversion
- Repeat Visitor Ratio / Customer Retention Rate / Visitor Loyalty
Let’s know important ecommerce conversions metrics that should be paid attention to in order to boost your online business:
Time on Site (TOS)
This terminology means the average amount of time spent on your site by visitors. Digging deeper into analytics, marketing experts can know individual time spent on each page by a visitor.
Based on time spent on each page, you can get an idea of what products are garnering maximum attention of visitors. This is good way to optimize your inventory and keep most relevant products in your store.
Paying attention to this ‘time on site (TOS)’ metric is quite helping in improving ecommerce sales conversion ratio. A note to mention here is that this metric is highly influenced by the design, UI and UX of your website. For this reason, it is recommended to take care of these aspects during ecommerce website development.
Exit Pages
This is an important metric to capture negative element of your ecommerce website. Study and analyze which pages have maximum bounce ratio. What’s wrong with those pages that visitors exit the website after landing on them?
Answer these questions to improvise those exit pages and then see a drastic improvement in ecommerce sales of your store.
Average Order Value (AOV)
AOV is the estimated amount of time spent by a customer on your website when they make a purchase. In simple words, this is a study of customer’s behavior on your website.
This study helps you in offering unique shopping experience to each customer by presenting them with products they are most interested in purchasing right in front of their eyes. Such marketing techniques are well studied to improve ecommerce website sales conversion.
Repeat Customer Rate (RCR)
RCR defines the number of repeat customers to your ecommerce store. How many customers have come back for second order on your website after the first purchase? This parameter should be worked upon by regularly updating your ecommerce website for necessary and relevant products as per changing trends and demands of customers.
Ecommerce website development is an on-going process, not a one-time project. Accordingly join hands with a reliable company like Data Cross Solution that can provide round the clock support for development and regular up-gradation. Ask the experts to know in detail about what are the ecommerce sales conversion metrics that boost you online business.