This episode is a foundational guide for ecommerce operators, breaking down the essential metrics to track at each stage of the sales funnel. By understanding and monitoring these KPIs from discovery to advocacy, businesses can identify bottlenecks, optimize performance, and drive significant growth in their online stores.
Key takeaways
For the 'Discovery' stage, analyze impressions to understand initial visibility and reach.
During the 'Consideration' stage, monitor inbound traffic behavior, including website interactions and engagement across email and social media.
In the 'Revenue' stage, focus on micro-conversions, sales transactions, and Average Order Value (AOV) to measure financial performance.
For the 'Retention' stage, track repeat orders, Customer Lifetime Value (CLTV), and purchase frequency to build a loyal customer base.
In the 'Advocacy' stage, analyze word-of-mouth and referral marketing statistics to leverage customer evangelism.
Hello! This is Kunle Campbell of the 2X eCommerce Podcast Show...THE Podcast dedicated to Strategic Growth for Online Retailers. You my listeners either ask me questions on Twitter using the hashtag #2XeCommerce OR I teach you about specific MARKETING tactics geared to helping your sell more in your online store… On this episode, Kunle covers ecommerce metrics to track at each stage of your ecommerce sales funnel: DISCOVERY: How to analyse impressions. CONSIDERATION: How to analysing inbound traffic, including what they do on your site, how they interact with email and social media engagement. REVENUE: How to measure micro-conversions and analyzing sales, transactions and average order value. RETENTION: How to analyse repeat orders, customer lifetime value and purchase frequency. ADVOCACY: How to analyse word of mouth and referral marketing stats. For more details, Kunle wrote an article titled "55 Ecommerce Metrics & KPIs You Need to Measure to Drive 10X Growth" on the BigCommerce blog. ----- PHYSICAL PRODUCT BUSINESS PODCASTRemember we now have a sister video podcast: PHYSICAL PRODUCT BUSINESS PODCAST. You can subscribe on either YouTube, SoundCloud or Medium for updates: Subscribe on iTunes: https://itunes.apple.com/podcast/physical-product-business/id1181834388 Subscribe on YouTube: https://www.youtube.com/channel/UCfZrWNt4L8CQqdulAOv2n6g Subscribe on SoundCloud: https://soundcloud.com/physicalproductbusiness Subscribe on Medium: https://physicalproductbusiness.com/
Frequently asked about this episode
What does this episode say about ecommerce analytics?
For the 'Discovery' stage, analyze impressions to understand initial visibility and reach.
What does this episode say about performance measurement?
During the 'Consideration' stage, monitor inbound traffic behavior, including website interactions and engagement across email and social media.
What does this episode say about sales funnel optimization?
In the 'Revenue' stage, focus on micro-conversions, sales transactions, and Average Order Value (AOV) to measure financial performance.
What does this episode say about ecommerce analytics?
For the 'Retention' stage, track repeat orders, Customer Lifetime Value (CLTV), and purchase frequency to build a loyal customer base.
What does this episode say about ecommerce analytics?
In the 'Advocacy' stage, analyze word-of-mouth and referral marketing statistics to leverage customer evangelism.
