Essential Metrics for Online Store Marketing
Posted: Tue Jan 28, 2025 3:42 am
There are several key indicators that allow you to track and adjust the efficiency of your online store. It is important to understand that all of these metrics can fluctuate depending on many factors, so it is recommended to calculate and analyze them on a regular basis to monitor the dynamics and adjust your marketing strategy in accordance with changing market conditions.
Marketing an online store from scratch
Average bill
This indicator is very important in online high school senior mailing list sales. The higher the average check, the more revenue the online store receives.
To calculate the average check, you need to divide the sum of all purchases by their number. For example, 360 orders were made in an online store for a total of $8,460. We divide 8,460 by 360 and get the average check value, which is $23.5.
Why is this metric so important in e-commerce marketing?
The online store's income will grow if you manage to increase the average check. To achieve this goal, a personal approach to each customer is necessary. If you simply raise prices, you can increase the average check, but for a short period of time, then your customers will start shopping at competitors.
The average check is a very significant indicator that needs to be monitored, and if you use appropriate marketing tools to increase it, the result will be an increase in the income of the online store.
Conversion rate
The conversion rate in online store marketing gives an idea of how effective your business is at any stage of its interaction with customers. For an online store, the average conversion rate from a visitor to a customer is 3%. This is a general parameter.
In addition, there are also conversion rates at different stages of the sales funnel that a visitor goes through before placing an order. This data also needs to be monitored and used to analyze the sales funnel.
Marketing an online store from scratch
How can you calculate conversion rate in online store marketing?
Divide the number of visitors who made a purchase in the online store (or performed another target action) by the total number of visitors. For example, 10 thousand people visited the online store in a month and 100 of them made an order. In this case, the conversion is 1%.
Interruption ratio
Large online trading platforms sell a significant amount of goods even with a low conversion rate, since many people visit them daily. But if the online store is small and the number of its daily visitors is small, then in this case it is necessary to eliminate those circumstances that affect the interruption rate.
Marketing an online store from scratch
To calculate the abandonment rate, you need to divide the number of visitors who filled the cart but did not place an order by the total number of customers who made a purchase.
If 100 people shopped in an online store, and five only filled the cart but did not place an order, then the bounce rate is 5%.
It is important to keep in mind that most visitors fill the cart to make a purchase later. Therefore, it is worth establishing time criteria that will help to determine the difference between a postponed purchase and an abandoned one. These terms will depend on the product category that includes the products from the unfinished order.
It takes longer to decide whether to purchase an expensive item than to decide whether to purchase something of low value.
The timeframes for distinguishing an unfinished order from a purchase refusal are determined in each online store based on the statistics available in the specific case on the return of customers to abandoned shopping carts.
If the bounce rate is too high, then you need to analyze the content of the "Cart" page. If the payment rules and delivery methods can only be found at this stage of the order, then this becomes the basis for refusing to purchase.
If the reason is different, it needs to be found by testing. This will require observing user behavior on the site. If you manage to reduce the bounce rate, the store's revenue will increase.
Marketing an online store from scratch
Average bill
This indicator is very important in online high school senior mailing list sales. The higher the average check, the more revenue the online store receives.
To calculate the average check, you need to divide the sum of all purchases by their number. For example, 360 orders were made in an online store for a total of $8,460. We divide 8,460 by 360 and get the average check value, which is $23.5.
Why is this metric so important in e-commerce marketing?
The online store's income will grow if you manage to increase the average check. To achieve this goal, a personal approach to each customer is necessary. If you simply raise prices, you can increase the average check, but for a short period of time, then your customers will start shopping at competitors.
The average check is a very significant indicator that needs to be monitored, and if you use appropriate marketing tools to increase it, the result will be an increase in the income of the online store.
Conversion rate
The conversion rate in online store marketing gives an idea of how effective your business is at any stage of its interaction with customers. For an online store, the average conversion rate from a visitor to a customer is 3%. This is a general parameter.
In addition, there are also conversion rates at different stages of the sales funnel that a visitor goes through before placing an order. This data also needs to be monitored and used to analyze the sales funnel.
Marketing an online store from scratch
How can you calculate conversion rate in online store marketing?
Divide the number of visitors who made a purchase in the online store (or performed another target action) by the total number of visitors. For example, 10 thousand people visited the online store in a month and 100 of them made an order. In this case, the conversion is 1%.
Interruption ratio
Large online trading platforms sell a significant amount of goods even with a low conversion rate, since many people visit them daily. But if the online store is small and the number of its daily visitors is small, then in this case it is necessary to eliminate those circumstances that affect the interruption rate.
Marketing an online store from scratch
To calculate the abandonment rate, you need to divide the number of visitors who filled the cart but did not place an order by the total number of customers who made a purchase.
If 100 people shopped in an online store, and five only filled the cart but did not place an order, then the bounce rate is 5%.
It is important to keep in mind that most visitors fill the cart to make a purchase later. Therefore, it is worth establishing time criteria that will help to determine the difference between a postponed purchase and an abandoned one. These terms will depend on the product category that includes the products from the unfinished order.
It takes longer to decide whether to purchase an expensive item than to decide whether to purchase something of low value.
The timeframes for distinguishing an unfinished order from a purchase refusal are determined in each online store based on the statistics available in the specific case on the return of customers to abandoned shopping carts.
If the bounce rate is too high, then you need to analyze the content of the "Cart" page. If the payment rules and delivery methods can only be found at this stage of the order, then this becomes the basis for refusing to purchase.
If the reason is different, it needs to be found by testing. This will require observing user behavior on the site. If you manage to reduce the bounce rate, the store's revenue will increase.