Your "Must Know" Ecommerce Metrics

Web Analytics can be an amazing technology, but also a highly under-utilized one. Complex deployments and integrations frequently leave business users befuddled. Without dedicated staff to analyze, analytics packages more often than not collect dust.

This brief is focused on outlining the 7 most important web metrics to monitor within your eCommerce business and what to look for as it relates to your website’s performance.

Bounce rate

First on our list is the most important metric you will encounter: bounce rate. Think of bounce rate as a first impression. The definition of bounce rate is the percentage of users that leave your website after only viewing the initial page that was presented.

Bounce rate is so vital because it provides details into how you initially message your value proposition to the customer or prospect. It provides a cue to also help you identify performance issues with your site that may be causing the inflation the metric.

Bounce rates vary by industry, but eCommerce businesses should focus on getting the metric below 30%. Especially important within paid search campaigns, bounce rate will provide valuable cues into which product assortments and promotions at the category and sub-category levels of your taxonomy are doing well. This knowledge can be leveraged across the business in other categories and implemented via multi-variate testing deployments.

Email Capture Ratio

The next metric you want to track is your email capture ratio. As an online business, you probably sell some type of tangible product or service in which you monitor orders or completed information forms. Most businesses monitor their standard conversion rate, but few businesses frequently monitor their email capture rate and take a proactive approach to increasing.

With eCommerce conversion rates yet to eclipse an average of 3%, 97% of users who come to your store are leaving without buying something. Just because they are leaving however does not mean they are not interested in communicating on some level with your business. By gaining an initial step of trust through the capture of an email address, you are not only increasing the size of your house list for future marketing but you are also building a relationship with your customer and can win their business by providing them solutions to their lives.

Strive for a 7-10% email capture rate and place the sign up tool prominent in the header. Too many businesses bury their sign up tool and do not leverage rich applications that can use browser technologies such as ajax to expand a capture field over standard text in an overlay fashion.

Number of non-branded organic keywords

Make sure you look at number of monthly non-branded organic search keywords. When monitoring SEO performance, you need to first strip out the branded terms that correlate with your business. Thats traffic that you would have received without effective SEO. Then look to the number of remaining keywords that were utilized to make up the balance of the remaining natural search visits.

Why is this important? Because SEO is driven from the long tail. Sure, core SEO terms are nice but you need to capture the 4 and 5 word queries that make up the majority of Google queries each day. Long tail placements are achieved through proper site architecture and quality targeted content. Simply put, the more terms that people are using to find you, the better your site is doing in content development. Aim for a 5% to 10% increase each month within non-branded search keywords as you structure your SEO campaigns.

Shopping Cart to Checkout “Step 1″ Progression Rate

Our next metric directly correlates to the transactional process. Make sure you monitor your direct progression percentage from the shopping cart to checkout step 1. See how many of your users are bailing for price shopping and/or they see a promo code box on your site and they are going hunting for one. This type of behavior dramatically impacts your conversion rate and overall profits and steps should be taken to measure and reduce.

Consider adding the promo box at the end of the transaction for non-affiliate sessions in order to reduce leakage. Use a cookie from an affiliate or potentially a URL to trigger two versions of the cart page. By incorporating checkout abandonment tools that re-market via email, and aggressive banners both internally and externally to try and re-capture the lost transaction, eCommerce businesses can pull prospects back in the sales funnel.

Browser and Resolution Percentages

Dont forget about looking at Browser/Resolution percentages (types and sizes) when scaling your eCommerce business. Lace face it, when you sell online you are in the “looks professional…is professional” world and goo design can make even the smallest retailer seem large. If your build your site and it breaks in Safari (Mac’s browser), or the navigation breaks on Firefox 3.5 on a PC, you essentially shoot yourself in the foot.

Look at the varied browsers and resolutions that are being used to view your website. Conduct full cross-browser testing, on varied platforms, to fully notice any potential usability problems that arrive.

Average number of cross/up sells added per visit

If you are an eCommerce business, you already know that intelligent merchandising is a crucial key to success. A primary metric to help you understand performance within online merchandising is that of average cross/up sells added per visit.

This datapoint associates to your cross sell tools that integrate at the product and the cart level and measures the average number of cross-sells added to the cart per visit. The number will provide details into the effectiveness of your product recommendations and if the recommended products are actively engaging and persuading customers.

It is tough to provide a benchmark statistic for this metric since products can vary so greatly in terms of pricepoint. But look at your historical performance and consider automating this component through algorithmic third party solutions.

Article Marketing

In the present time, people are doing business with the use of internet. Perhaps, you are one of the many people who are interested in jumping in that bandwagon. Nowadays, competition among businesses has grown bigger; That's why a business owner like you should search for and try some exceptional yet cost effective internet marketing strategies. These marketing strategies can enhance and develop your business identity over the World Wide Web.

There are plenty of marketing strategies that you can use. The opportunities are endless, but you have to pick one that best compliments your business. One marketing strategy that has proven to be cost effective and highly efficient is article marketing. What is more, you can make it more special by adding in search engine optimization.

Search engine optimization is such a unique tool, and one that can be a competitive web marketing strategy. It mainly focuses on getting your website a higher search engine ranking. It does this by funneling traffic to your site by making it show up quickly when a person does an internet search for your niche.

When it comes to a global perspective, search engine optimization can be a benefit to you. What you have to do is to select keywords or key phrases to target potential clients. The search engine optimization will guarantee that your company will be found. Search engine optimization can help reach your potential clients from anywhere in the world.

Another benefit of an article marketing with SEO campaign is that it can increase the number of visitors to your website with the help of the targeted keywords or phrases. The people who visit your website can turn into potential clients; This is what SEO does. This is the only web marketing campaign that can drive traffic to your website. As more people visit your website, the chances of you getting some sales increases. SEO can increase your website's visibility in search engines.

Article marketing with the use of SEO is one amazing marketing strategy. You can get a high return on investment and you can increase the volume of sales and profit. This is one marketing strategy that you should look forward to doing, because it is very cost effective. You do not have to invest large sums of money. You can just bring in a minimum amount of investment, and you get to have a maximum exposure in return.

Your company can succeed in the web economy with the help of search engine optimization. Just remember that you need to come up with articles that people would enjoy reading. You can entice potential clients with the use of your articles. Make sure that you have an article with excellent content. An article marketing strategy is one great tool that will not go away and will be used for a long period of time. It is one effective way of informing your potential clients about your products or services.

Marketing Chocolate

Throughout history, chocolate has been marketed differently to different consumer types. Some companies like to show their customers that their chocolate has the most weight, by using digital scales and then showing what the price computing scales read on the actual package label. Yet, other companies prefer to create an upscale image, by making their products seem rich and indulgent. This article discusses the different ways to market chocolate.

1. Make a product that is meant for the everyday consumer. This type of chocolate is made for those who want an average chocolate bar. The packaging is usually very simple and the prices are the same or lower than the rest of the competition.

2. Create a rich and luxurious image for the product. This type of chocolate is set above the rest in price. It usually has gold packaging and has a look that is different from all of the competitors.

3. Organic products are becoming more and more popular, so making chocolate to appease this type of consumer is a newer marketing technique. In order for a chocolate to be organic, it must be approved by the USDA and some companies then go on to get certified organic by other more strict organizations.

4. Companies also want to reach out to the adventurous chocolate eater by using exotic ingredients in the chocolate. These types of chocolates usually have bold colors on the package label, to emphasize the exotic ingredients that are in the chocolate. Exotic ingredients may include, spices like cayenne pepper, or different fruits like passion fruit or mango.

5. Sugar free chocolate appeals to those who have diabetes or anyone who wants to reduce their sugar intake. The diet industry has really taken off in the past ten years and as such, so has the diet chocolate industry. People with diabetes or consumers who are watching their weight are able to eat chocolate that is made without sugar. This chocolate is usually made with artificial sweeteners and the packaging reflects this change. The wrapping and labeling on this kind of chocolate bar is usually lighter, to indicate that it is lighter in calories and sugar, therefore, making it a light chocolate bar.

6. Finally, there is marketing towards children, in which companies make a product that is fun with packaging that has bright colors. There are many chocolate producing companies whose target market is children. In order to attract children anywhere from two to sixteen, they make their labels appear bright and cheerful. These companies also make their companies seem fun and sometimes quirky to attract children to other products they may offer.

Chocolate has been a part of the everyday consumers’ lives for hundreds of years. It is only in the recent past that the consumer market for chocolate has been segmented into so many different components. The consumer market is also constantly changing, so it will be interesting to see what new markets come about in the next few decades and how the chocolate industry will deal with these future changes in the chocolate market.

Real Estate Management Fees

The property investor has decided to hire a management company to take care of their many properties. They interview several before making a decision on the company they will hire. There are many things they will be comparing, among them the real estate management fee the company charges. The investor needs to determine whether they want to pay a monthly percentage or a flat fee for the managers services.

Investors should look at more than the monthly fee they will be paying. Sometimes for a higher percentage you will receive more services. The cheaper rate of some managers does not include the extra fees charged. Find out if the advertising is included in the normal fee. Will they be charging each time they show the property to a potential client? Are their leasing fees on top of the management fees? The investor should read each companies contract to determine what is included in their real estate management fee.

A real estate management fee is charged based on a percentage of income collected with a minimum monthly base fee. Fees will often vary by the type and size of the property. Fees can be a flat rate for a single family home or 6 percent of the rental income for larger properties. Larger properties typically command a lower percentage rate (ie, 2 percent) than a single family home that may be quoted up to10 percent. Fees are negotiated on a per property basis and depend on many factors including condition, location and size of the property, etc. Leasing and other auxiliary service fees are separate and in addition to the management fee.

The investor should ask what services cost extra. They should determine if evictions are an extra fee. The contract should state how and when the fee is collected. Will the investor be billed or is it deducted from your account? On a monthly or quarterly basis? Is there a cost to prep the units for rent? And what is the typical cleaning fee on vacancies?

A management company fulfills many services for the investor. The company takes care of the daily activities of renting the property, collecting rents, accounting and monthly statements, hire contractors for services such as cleaning, groundskeepers and maintenance work as well as supervise any work. The real estate management fee the investor pays provides them with peace of mind.

The investor has interviewed several companies and found the fees are close in range with a few exceptions. They decide to further investigate each companys contract and references. By comparing all the services and getting good referrals, the investor can make an informed choice.

Interviewing the management company to determine the real estate management fee that charge is the first step to hiring a reliable company. The final cost the investor will pay the management company is determined by many things as well as the monthly fee. How well the company communicates with the investor and tenants, how they handle problems, their attention to detail in the leasing process and their ability to maintain the property in good condition all determine the investors final costs on each property.

Hiring a good management company helps the investor rent his property faster and provide preventive maintenance before problems become major repairs and expenses. The investor should look at more than the initial monthly fees when determining how much it will actually cost them if they go with the cheapest company.