Can you tell if your e-commerce company is succeeding, or failing? There are a number of indicators that could help turn things around before it’s too late. Three main areas contain data that you should pay particular attention to. Read more to learn how to tell if your website is succeeding, and will continue to thrive in the future.
- Website Traffic
Your web design company should have added traffic flocking to your website design, if they did their job correctly. Within a couple months after launching your e-commerce site, your traffic should be increasing regularly.You don’t just want traffic however; you want traffic that will convert to sales. Selecting your audience and targeting those most likely to be interested in your products will bring more return on your investment. It’s not simply a matter of driving massive traffic to your website: you MUST drive the “right” traffic to your offering, and convert it directly to increased sales.
Many people think this sort of traffic driver can only be achieved by spending incredible amounts of money on marketing. The best e-commerce designers however, are savvy regarding what is reasonable spending on marketing. Yes it’s true, you will have to spend some money to make money. Knowing where to spend, and where not to, is what separates top-rated web designers from the rest. Marketing Media is one such company that knows how to take advantage of every paid and free resource that combine to drive the right traffic to your website.
- Website conversion rate
While it’s always good to have more “eyes” on your website, attention must be paid to how many visitors actually purchase from you. As previously mentioned, driving your target audience to your site will increase sales. This is the audience that drives your conversion rate. Other visitors are important as well, since ideally, you want your company to end up being the talk of the town. Therefore, conversion rates are only going to be a fraction of your overall traffic, which is normal.So what should your conversion rate be, then? It will vary, depending on the industry you are in. Research into what the typical website conversion rate is for other sites selling similar products can give you an idea of where you should be. Use those numbers as your target conversion rate, so you can adjust your strategies accordingly. Your e-commerce web design agency should be knowledgeable in this area, and provide you with the tools to monitor your rates.
- Website sales
Depending on whether you sell your own products or another company’s products, your average sales total will vary. When you sell your own products, you are typically more familiar with the specifics of your products. This means you are likely to upsell other products you carry when you feel customers could benefit from them. Upselling to your customers while you have their attention is one of the best ways to increase your average sales. When you are selling another company’s products, your knowledge of them and ability to upsell is not usually as strong. You are at the mercy of the manufacturer to a certain extent.Regardless, it is wise to monitor your average sales, and use all the resources available to upsell, cross-sell or drive more repeat visits. The goal is to get all the products the customer needs into their cart the FIRST time they visit your website. Another key is to drive repeat traffic as quickly as possible. All of this will translate into more sales, and more profit for your company. Whether you sell your own products or someone else’s, there are tools that help you drive more dollars spending per visit.
More important data is to be analyzed to ensure your success and rising profits. The three key indicators above though, are likely your best choices for significant attention. By tracking and adjusting as needed, you are more likely to increase traffic, convert traffic to sales and increase overall sales volume. These are the indicators that your e-commerce company is succeeding and will continue to lead the pack within your industry.