Cart Analysis helps you identify the most popular product combinations.Ecommerce conversion metrics measure how successful your ecommerce brand is at converting shoppers into customers. Conversion is the backbone of all ecommerce businesses—if your organization isn’t making money, it won’t survive for long.
The biggest misstep brands make when it comes to conversion metrics is tracking vanity metrics rather than figuring out what is impacting business outcomes. By contrast, leading businesses drill into the numbers to understand different conversion types and what customers do after they convert. This guide outlines key conversion metrics and considerations to help you measure what matters.
KEY TAKEAWAYS
- Revenue generation is the heart of any ecommerce business, which means measuring conversion is essential for success.
- Ecommerce conversion metrics can help you effectively turn potential customers into part of a loyal customer base.
- Drill into conversion metrics (for example, by comparing conversion across different types of products) to understand what drives high-value repeat purchases.
- There are seven main conversion metrics ecommerce businesses should track:
- Sales conversion rate
- Average order value (AOV)
- Percentage of returning customers
- Abandoned cart rate
- Average basket size
- Revenue by product and product category
- Top-performing product combinations
- Measuring conversion metrics is just the beginning—convert insights into actions through experimentation, refining your strategies for your online store.
Boost revenue and fine-tune your ecommerce strategy with our guide to ecommerce conversion metrics…
Analyze, then take action
Measuring metrics and running analyses is all about gathering information. But what do you do next?
Experimentation helps you improve your strategies, move metrics in the right direction, and improve your bottom line. Use conversion metrics as a starting point to identify where you can refine your ecommerce strategy.
From there, try out adjustments to the customer experience. For instance, you might double down on a successful marketing channel (such as email marketing, SEO, or paid ads) or add a pop-up with personalized product recommendations. Run A/B testing to find the best messaging and design for your ecommerce site, social media posts, and ads. Measure the results, then analyze and repeat. Credits to Amplitude.
