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21. Visitor satisfaction
How would a visitor rate his experience on your site? There are a lot of tools you can use to gauge visitor satisfaction and they mostly consist of questionnaires that ask them to rate their experience. The most efficient tool I’ve worked with (that actually does more than simply survey) is Qualaroo. I highly recommend giving it a try.
From social to PPC, each channel has its own KPIs that should be tracked in order to improve overall performance, but let’s talk about the most relevant ones without getting sidetracked:
22. PPC conversion rate & cost per conversion
23. Newsletter open & click rate
24. Newsletter click rates
25. Newsletter conversion rates
Many newsletter get opened & clicked but fail to actually sell something. Although it’s tempting to only judge a newsletter’s performance by open & click rates, it’s still a standalone activity that must bring a positive return on investment.
26. SERP clickthrough rates
If you treat your meta’s lightly and don’t keep an eye on the clickthrough rates for various keywords you’re ranking, you’re going to have a bad time with organic traffic. Great on-page content is useless if your meta title & description is not compelling enough to make the user click.
27. Organic conversion rates
Everyone loves organic traffic. Keeping track of conversions from organic traffic is especially important because it allows you to optimize digital assets (landing pages mostly) that will bring a steady flow of new orders (as opposed to social traffic that tends to spike and go away).
Yes, there are a bunch more KPIs that would fit here, but these are the most actionable ones.
Micro-conversions were at one point the next big thing in eCommerce. The truth is most of your traffic will not end in a macro-conversion (mostly defined as an online purchase), but focusing on micro-conversions can yield significant results. The most common micro-conversions that eCommerce businesses track are:
28. Newsletter subscriptions
This is by far my favorite micro-conversion to play with. With so many tools and so many tactics to grow a newsletter database, keeping track of what forms, pages and incentives delivered the best results is…actually fun. Not to mention extremely profitable, as email brings on average 4
29. Social shares
The rate of social sharing is a very relevant indicator of your content’s popularity and can help bring traffic both directly and indirectly, by boosting search results positioning.
Even more, you can determine the average number of visits per share to determine how active/influential your audience is on social media. If you’re seeing an above average (average being 4-5 visits/share) number of visits per share, then you know your site audience comprises of influencers as well.
Additionally, you should discover and leverage your most shared products / landing pages by extending campaigns or integrating them in new ones.
30. Social follows
Depending on your strategy, the new number of fans/followers may or may not be a useful metric to track. Mostly likely it will fit into the vanity metrics category.
31. Address / contact views
32. Chat requests
33. Account registrations
34. Add to wishlist
35. Compare products
36. Product reviews
Never underestimate the foot traffic an online store can drive. If you’re selling expensive items and have a physical location, you can be sure that your online store will be used as a catalog and many purchases will actually happen in-store.
37. Rich media plays (videos, galleries, presentations etc.)
Quality rich media & interactive content increases conversion every time. Is the user interacting with it enough or is it overlooked?
When it comes to micro-conversion, this is by no means an exhaustive list. You can define your own micro-conversions. For some online stores that focus on the community building aspect, a forum registration, a forum post or a comment can be a valuable micro-conversion.
38. Average Lifetime Value (LTV)
I’m rather surprised how few eCommerce marketers/entrepreneurs use this metric. It’s understandable though: determining LTV can be quite tricky, especially if you don’t have much historical data. Nonetheless, knowing LTV is extremely important, as it allows you to create successful medium and long term strategies.
39. Customer acquisition cost (COC)
40. Cost of goods sold (COGS)
41. Average margin
42. Daily / weekly / monthly / quarterly / annual sales
These are just a few from a plethora of financial metrics, but they’re a must-have on your dashboard.
Customer Service Key Performance Indicators
43. Number of complaints
Surprisingly, a large number of companies don’t track much when it comes to customer complaints and feedback.
44. Complaint classification
How many complaints / returns are related to quality? How many are due to shipping damages? And so on…
45. Number of returns
Returns cost money and are already the result of an expectation not being met. The fewer, the better.
46. Average resolution time
Ensuring great customer support isn’t cheap and if your support processes aren’t well optimized, your CS staff could be wasting time on operations that could be easily automated. That’s why you need to keep track of how long it takes to resolve a customer complaint and identify the bottlenecks (if any). Plus, well organized customer support will reduce resolution times, which is always a plus for the consumer.
47. Resolution outcome (positive / negative)
I think these are enough KPIs to keep you busy and inspired for now and hopefully I’ve convinced you to use more of them.
Me: I’m currently working on some other useful resources to help you save time and track the metrics that truly matter and a series of posts that focuses on optimization and conversion tactics. Subscribe to make sure you receive them.
You: Feel to contribute to the article in the comments section – what other KPIs are important to you? Also, sharing this article would be much appreciated!