7 Crucial Ecommerce Metrics You Should Be Tracking Right Now

 

Don't get lost in the depths of information available. The key is to know these seven eCommerce metrics to stay on top of your online business.

There’s an ocean of data available to ecommerce store owners.

The number of sales by day, week, month. The average value of all items purchased. Cart abandonment. Buy-to-detail rates. Funnel dropouts – on and on the list goes.

But, you don’t want to get lost in the depths of information available to you.

These seven ecommerce metrics will make tracking your shop’s success smooth sailing.

1. Sales Conversion Rate

Your ecommerce sales conversion rate is, simply put, the percentage of people who visit your online store or page who make a purchase.

To calculate your conversion rate, use the following formula:

Obviously, you’d want as high a conversion rate as possible.

But the truth is that the average ecommerce conversion rate in the U.S. is much lower than you think – between 2% and 3%.

According to WordStream, however, you might fare better with Google Shopping Ads.

Now, for the big question: How can I improve my conversion rate?

• This is a huge topic in itself, but a few things you can try include:
• Speeding up your product pages.
• Upload high-quality images of your products.
• Optimize product listings using keywords.

2. Website Traffic

Once you’ve tracked and optimized your conversion rate, you can then look at bringing more people to your ecommerce store.

This is where measuring website traffic comes in.

Let’s go back to your conversion rate of 1%, or 10 purchases for every 1,000 visits. After optimization, let’s suppose this rate increased to 5% – 50 sales for every 1,000 visitors.

We can then infer that if you were to get 10,000 people to visit your site, you would also multiple your sales tenfold.

This isn’t a guarantee, of course, but it’s nevertheless important to ensure that people know your online store or page exists to maximize your likelihood of generating more sales.

To grow your website traffic, you can:

• Promote your offerings on social media.
• Optimize your site/store for search engines.
• Grow the number of people subscribing to your newsletter.
• SEO Forecasting Done Right

3. Email Opt-In Rate

Even in today’s social media age, email marketing continues to be one of the most important tools for eCommerce, particularly when it comes to remarketing and generating repeat business.

Based on over 3.2 billion sessions, Sumo puts the average email opt-in rate at 1.95%.

Similar to website traffic, the idea is to get as many people on your email list, even if they don’t necessarily purchase your products right away.