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How can you measure the success of your e-commerce platform?

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If you run an e-commerce platform, you need to know how well it performs and what factors influence its success. Measuring the success of your e-commerce platform is not just about tracking sales and revenue, but also about understanding your customers, their behavior, and their satisfaction. In this article, you will learn how to use some key metrics and tools to measure the success of your e-commerce platform and optimize it for better results.

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Aniket Mehare

Follow for Insights on Retail, E-commerce, and Product Leadership | Leading Marketplace Product at Landmark Group in…
Julie Dixon
Srinivas Seshadri

LinkedIn Top Voice | Head Marketing | Category Management I Brand Management I Consumer Insights I IIM Trichy

1 Traffic sources

One of the first things you need to measure is where your traffic comes from and how it affects your conversion rate. Traffic sources are the channels that bring visitors to your website, such as organic search, paid ads, social media, email, or referrals. You can use tools like Google Analytics or similar to track the traffic sources and analyze how they perform in terms of bounce rate, time on site, pages per session, and conversion rate. This will help you identify the most effective and profitable sources and allocate your budget and resources accordingly.

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Aniket Mehare

Follow for Insights on Retail, E-commerce, and Product Leadership | Leading Marketplace Product at Landmark Group in Middle East | Ex-Unilever, JioMart, GEP | IIM Kozhikode & COEP Alum
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Measuring organic traffic from the geographic area where you can serve customers is the first starting point. E.g if you are delivering only in North America then Asian traffic doesn’t carry any meaning your your business If the traffic is going to fall post you decrease your add spend its just a mirage , additionally cost of advertising can change anytime when other brands start running campaigns hence measuring organic traffic is really important Source of traffic few additional things to measure - 1. % of traffic directly landing on your homepage 2. Google search index rank 3. Social media followers (as they are easy to retarget) 4. Email open /bounce rate

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Julie Dixon
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While KPIs on user flows within a B2B e-commerce site are essential information, traffic sources are less important if user access is limited to authorized customers only. Additionally, more powerful tools than Google Analytics are necessary to dig into complex user flows and identify potential sticking points. One area where identification of geographic area can be important, however, is pairing buyer location with season-specific purchases to determine what they need most.

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Mohammed Rashid Hayat

Sales & Marketing | Account Management | Ecommerce Integration | Logistics | Shopify | Social Media Management | Branding | B2B & B2C Marketing | AI Promoter
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Focus is Key: If an e-commerce business is existing and serving clients in Florida, and traffic source is pointing to the Middle east or Asia as potential, I would highly recommend never waste time and resource. Establish yourself firmly and focus. At time traffic sources can be misleading.

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2 Conversion rate

Conversion rate is the percentage of visitors who complete a desired action on your website, such as making a purchase, signing up for a newsletter, or downloading a freebie. Conversion rate is one of the most important metrics to measure the success of your e-commerce platform, as it reflects how well your website meets the needs and expectations of your customers. You can calculate your conversion rate by dividing the number of conversions by the number of visitors and multiplying by 100. You can also segment your conversion rate by traffic source, device, location, or other criteria to get more insights into your customer behavior and preferences.

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Mohammed Rashid Hayat

Sales & Marketing | Account Management | Ecommerce Integration | Logistics | Shopify | Social Media Management | Branding | B2B & B2C Marketing | AI Promoter
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Newbie in Town: Yes, conversion rates matter and to achieve that most important KPI, make sure your purchase team has ordered minimum stocks of best-sellers based on product popularity. Always keep you collection to the latest.

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3 Customer lifetime value

Customer lifetime value (CLV) is the estimated amount of money that a customer will spend on your website over their entire relationship with you. CLV is a key metric to measure the success of your e-commerce platform, as it indicates how loyal and profitable your customers are and how much you can invest in acquiring and retaining them. You can calculate your CLV by multiplying the average order value by the average number of purchases per customer by the average retention rate. You can also use tools like Google Analytics or similar to track your CLV and compare it with your customer acquisition cost (CAC).

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4 Customer satisfaction

Customer satisfaction is the degree to which your customers are happy with your products, services, and overall experience on your website. Customer satisfaction is a crucial metric to measure the success of your e-commerce platform, as it affects your reputation, retention, and referrals. You can measure your customer satisfaction by using various methods, such as surveys, reviews, ratings, feedback forms, or net promoter score (NPS). You can also use tools like Hotjar or similar to monitor your customer behavior and feedback on your website and identify any pain points or improvement opportunities.

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Mohammed Rashid Hayat

Sales & Marketing | Account Management | Ecommerce Integration | Logistics | Shopify | Social Media Management | Branding | B2B & B2C Marketing | AI Promoter
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Proof is in the Pudding: Customer satisfaction is crucial, as that will directly relate to Retention. Promise the customer, what you can and fulfill it by all means. Below points can make a great impact if implemented with sincerity. * Ensuring last mile is on time * Contacting the Customer before and after delivery * Having multiple payment methods. * Enhance your exchange program.

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5 Website performance

Website performance is the speed and usability of your website and how it affects your customer experience and conversion rate. Website performance is a vital metric to measure the success of your e-commerce platform, as it influences your SEO ranking, traffic, and retention. You can measure your website performance by using tools like Google PageSpeed Insights or similar to test your website speed, loading time, and optimization score. You can also use tools like Google Search Console or similar to check your website health, crawlability, and indexability.

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6 Revenue and profit

Revenue and profit are the ultimate metrics to measure the success of your e-commerce platform, as they reflect your financial performance and growth. Revenue is the amount of money that you generate from your sales, while profit is the amount of money that you keep after deducting your expenses. You can measure your revenue and profit by using tools like Google Analytics or similar to track your sales, orders, and revenue. You can also use tools like ProfitWell or similar to monitor your profit, margins, and costs.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Srinivas Seshadri

LinkedIn Top Voice | Head Marketing | Category Management I Brand Management I Consumer Insights I IIM Trichy
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E-commerce platforms with attractive discounts are spoiling consumers with choices. Consumers now switch loyalties in no time. In such a scenario, Customer Retention Rate becomes a critical success factor for e-commerce platforms.

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How can you measure the success of your e-commerce platform?

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1 Traffic sources

2 Conversion rate

3 Customer lifetime value

4 Customer satisfaction

5 Website performance

6 Revenue and profit

7 Here’s what else to consider

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