If you own an E-commerce website which is not generating enough sales as per its potential, then you definitely need to investigate why this is so. The foremost thing you need to know after making your online store live is how to increase website conversion rates in order to generate more sales. The reason why business websites lose sales is that they don’t understand what metrics to monitor and track regularly.
The E-commerce metrics that one should know once he owned an online store:
New Visits: You need to do a quick research on the total number of new people visiting your website regularly and what are their sources. By doing this it will be easier for you to learn the effectiveness of traffic generation. Once you get the source of your new visit you can set a proper plan of action of how to increase your visitor’s rate from those sources.
Conversion Rate: Google Analytics can help you to find out the exact percentage of traffic source conversion and through this, you can analyze the number of purchases visitors are making. By understanding the conversion rate you will get to know your focal point of traffic building activities.
Day/Time Conversion rate: By this tool, you can study the exact dates and times when people are purchasing from your online store. This metric will help you to intensify your marketing practices all throughout this time.
Visitor Behavior: This is one such E-commerce metric through which you can easily judge your visitor’s behavior when he/she is viewing your page. You can see where he/she is facing navigation problems and which pages are turning him/her off.
Product Purchase Count: This Unique purchase metric allows you to know the number of times a particular product has been bought.
Shopping Cart Abandonment: This metric tells you whether the final purchasing stage is a difficult one or not, by providing you with an estimate of the no. of visitors reaching the shopping cart stage and finally placing the order.
If you are deciding to start your first online venture, then you have landed at the right place at the right time. Just follow these steps once your website is ready and start earning a hell of a lot of money.