The prerequisite for setting up your KPIs: setting webmarketing and e-commerce objectives
In any marketing strategy, the essential element of success lies in the determination of objectives. Thus, before anything, even before the implementation of your actions, you must determine what your objectives are. Do you want to get better notoriety? More sales? Better positioning and better visibility? Reduce the rebound rate on your website? Bring consumers from your website to your store?
Once the first step of determining your objectives has been completed, it is then a question of identifying the KPIs that will allow you to determine whether your objectives have been achieved. This step is crucial because it is with the help of these indicators that you will be able to understand to what extent you can improve your marketing actions.
So, you need to ask yourself several questions:
- Depending on each of my objectives, what performance indicators should I follow?
- How do I analyze my performance indicators?
- What performance levels should I set for each of my KPIs?
- What are the essential performance indicators that I must follow scrupulously and which ones to follow regularly that will give me leads in a more precise analysis of my performance?
When you answer all of these questions yourself, keep in mind that the different KPIs you choose must have specific characteristics. Indeed, a "good" KPI must be measurable and fairly simple. They must then allow decisions to be made once the performances have been analysed. Indeed, KPIs are indicators that promote decision-making: invest more, limit investment, redirect marketing efforts, etc.
The key KPIs to improve your performance
In this article, we suggest you review a number of potentially useful KPIs in your marketing and e-commerce strategy. We also tell you where these KPIs are available in the Google Analytics tool.
Traffic-related performance indicators
At first, you must pay particular attention to the performance indicators concerning the traffic on your website. By understanding the origin of the traffic and the number of individuals who come to a particular page of your website, you will already obtain an overview of the most promising communication channels for your activity.
Analyze the traffic of your e-commerce site and the number of your visitors
One of the first elements to analyze remains the number of Internet users who visit your e-store each day. In this way, you get information on the seasonality of your sales but also on the products or services that bring you the most visitors.
In order to obtain this KPI, you just have to go to Google Analytics, in the “audience” tab, then click on “overview.
Study the sources and origin of your traffic
The study of your different sources of traffic allows you to know which are your communication channels that are the most efficient. Is it Facebook? Google Adwords ? In this sense, you will obtain valuable information to guide your investments by channel.
In order to obtain this valuable information concerning the origin and sources of your traffic, go to Google Analytics, in the “acquisition” tab. Then, click on “all traffic” and on “channels”.
Determine the number of returning visitors and new Internet users
On your site, get to know who your visitors are by asking yourself what is the share of those who have already come to your website and those who, on the contrary, are new. The goal is to have a good share of each of these two types of visitors. Having loyal customers proves the quality of your offer and getting new visitors allows you to see if your communication has been successful.
In Google Analytics, you only need two clicks to get these two rates. Click on “audience” then on “overview”.
Analyze the rebound rate
Le rebound rate lets you see what percentage of visitors leave your site after viewing just one page. This rate allows you to understand if all of your channels communicate the right offer, the one highlighted on your website. Web pages with a box rebound rate require optimizations, that's for sure.
You will also find the rebound rate in Google Analytics by going to "audience" and "overview".
Purchasing performance indicators
Analyze the average basket
Le average basket highlights the average value of purchases per customer. By analyzing this KPI, you will understand which are the most prosperous periods and the slow periods for your e-commerce. This indicator also allows you to analyze the impact of your promotional actions and see which ones really increase the value of the basket.
Google Analytics allows you to easily access the value of the average basket. Go to “conversions”, then to “e-commerce”, and finally, to “overview”.
Study your Conversion rate
In e-commerce, this indicator is central. It allows you to know the number of Internet users who have made a purchase in relation to the number of Internet users who have simply visited your website.
As for the average basket, you can access this indicator in Google Analytics by clicking on “conversions”, “e-commerce”, then “overview”.
Determine the cart abandonment rate
Finally, the cart abandonment rate allows you to see the number of visitors who have abandoned an order on your site. This is due to various causes: too high delivery costs, no free returns, etc.
In Google Analytics, click on the “conversions” tab, then on “goals” and finally on “overview”.
Finally, note that other indicators can provide you with even more precise information that will allow you to improve your marketing strategy. For example, analyze the time the consumer takes to make a purchase on your site or the number of visits before purchase. These two indicators are present in Google Analytics in “conversions”, then in “electronic commerce” and “time before purchase”. These KPIs will allow you to further optimize the buying journey of Internet users in order to promote impulse buying or increase trust. Up to you ! Create your personalized dashboard in Google Analytics and analyze the KPIs specific to your activity in order to constantly improve your marketing strategy and your e-commerce site!
