Unlocking Success: Essential Ecommerce Metrics Every Business Should Track

• This metric measures the percentage of website visitors who make a purchase. A higher conversion rate indicates better effectiveness in turning visitors into customers.
• Kensium can help optimize your website's user experience and checkout process to increase conversion rates and drive more sales.

2.    Average Order Value (AOV):

• AOV refers to the average amount customers spend per order. Increasing AOV can boost revenue without needing to attract more customers.
• Kensium can implement upselling and cross-selling strategies to encourage customers to add more items to their cart, thereby increasing AOV.

3.    Customer Lifetime Value (CLV):

• CLV predicts the total revenue a customer is expected to generate over their lifetime as a customer. It helps in understanding the long-term value of acquiring and retaining customers.
• Kensium can help develop personalized marketing campaigns and loyalty programs to increase CLV and foster customer loyalty.

4.    Customer Acquisition Costs (CAC):

• CAC represents the amount of money spent on acquiring a new customer. Lowering CAC while maintaining quality leads to higher profitability.
• Kensium can optimize your marketing strategies and channels to reduce CAC and improve ROI.

5.    Shopping Cart Abandonment Rate:

• This metric measures the percentage of customers who add items to their shopping cart but do not complete the purchase. Lowering abandonment rates can lead to increased sales.
• Kensium can implement strategies such as email retargeting and cart abandonment recovery to recapture lost sales and improve conversion rates.

6.    Returning Customer Rate:

• The returning customer rate shows the percentage of customers who make repeat purchases. A high returning customer rate indicates customer satisfaction and loyalty.
• Kensium can help nurture customer relationships through personalized communication and targeted promotions to increase repeat purchases.

7.    Bounce Rate:

• Bounce rate measures the percentage of visitors who leave a website after viewing only one page. A high bounce rate may indicate issues with website design or content.
• Kensium can conduct website audits and optimize page load times and user experience to reduce bounce rates and improve engagement.

8.    Impressions, Reach, and Engagement:

• These metrics measure the visibility and interaction of your content on social media and other marketing channels. Understanding these metrics can help refine your marketing strategies.
• Kensium can develop and execute social media marketing campaigns to increase brand awareness, reach, and engagement.

9.    Net Promoter Score (NPS):

• NPS measures customer satisfaction and loyalty by asking customers how likely they are to recommend your brand to others. A high NPS indicates strong customer advocacy.
• Kensium can implement NPS surveys and gather feedback to identify areas for improvement and enhance customer satisfaction.

10.    Click-through Rate (CTR):

• CTR measures the percentage of people who click on a link or advertisement compared to the total number of impressions. A high CTR indicates effective ad targeting and messaging.
• Kensium can optimize your ad campaigns and creatives to increase CTR and drive more traffic to your website.

11.    Store Sessions by Traffic Source, Device Type, and Location:

• Analyzing store sessions by various parameters provides insights into where your website traffic is coming from, how users are accessing your site, and where your target audience is located.
• Kensium can help identify the most effective traffic sources and optimize your website for different devices and geographic locations to maximize conversions.

12.    Top Products by Units Sold:

• Identifying your best-selling products allows you to focus your marketing efforts and inventory management on high-demand items.
• Kensium can implement inventory management solutions to ensure adequate stock levels of top-selling products and minimize stockouts.

13.    Month-end Inventory Snapshot and Average Inventory Sold per Day:

• These metrics help track inventory levels and turnover rates, ensuring efficient inventory management and preventing overstocking or stockouts.
• Kensium can implement inventory forecasting and replenishment strategies to optimize inventory levels and minimize carrying costs.

14.    Refund and Return Rate:

• Monitoring refund and return rates helps identify product quality issues or customer dissatisfaction, allowing for timely corrective actions.
• Kensium can implement customer support solutions and streamline the return process to improve customer satisfaction and minimize returns.

15.    Churn Rate:

• Churn rate measures the percentage of customers who stop using your services or unsubscribe from your platform over a given period. A high churn rate indicates retention issues.
• Kensium can implement customer retention strategies and loyalty programs to reduce churn and increase customer lifetime value.