SE2 EP10: Ecommerce Metrics to Measure at each Stage of Your Sales Funnel [PART 2]

2X eCommerce Podcast · January 23, 2017 · 21 min

Summary

This episode breaks down crucial ecommerce metrics to track across all five stages of the sales funnel: Discovery, Consideration, Revenue, Retention, and Advocacy. For ecommerce operators, understanding and acting on these metrics is key to optimizing performance, identifying growth opportunities, and improving customer lifetime value.

Key takeaways

• For the 'Discovery' stage, focus on analyzing impressions to understand initial visibility.
• In the 'Consideration' stage, delve into inbound traffic behavior, including on-site actions and engagement with email/social media.
• For the 'Revenue' stage, measure micro-conversions, sales transactions, and average order value to optimize conversion.
• In the 'Retention' stage, analyze repeat orders, customer lifetime value (CLV), and purchase frequency to build lasting customer relationships.
• For 'Advocacy', track word-of-mouth and referral marketing statistics to leverage loyal customers.

Themes

Topics covered

Episode description

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 customer lifecycle management?

For the 'Discovery' stage, focus on analyzing impressions to understand initial visibility.

What does this episode say about ecommerce analytics?

In the 'Consideration' stage, delve into inbound traffic behavior, including on-site actions and engagement with email/social media.

What does this episode say about sales funnel optimization?

For the 'Revenue' stage, measure micro-conversions, sales transactions, and average order value to optimize conversion.

What does this episode say about customer lifecycle management?

In the 'Retention' stage, analyze repeat orders, customer lifetime value (CLV), and purchase frequency to build lasting customer relationships.

What does this episode say about customer lifecycle management?

For 'Advocacy', track word-of-mouth and referral marketing statistics to leverage loyal customers.

Listen

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