How to Use Metrics Data to Optimize Your E-Commerce Store

First step in optimizing your e-commerce store is to identify the important metrics and to collect data relevant to the metrics. Once you have the information/data, you can then take the next step to optimize your store. Optimizing your e-commerce store is one vital technical step to boosting its performance. Here’s what you can do using the right metrics data to boost the performance of your e-commerce store.

Enhance Website User Experience

You can enhance the user experience on your website by deliberate efforts. Technically, user experience (UX) is an important element of converting website visitors to buyers. This experience is vital for repeat visits as well. When customers visit your store’s website and they had a good experience, that experience does not only encourage them to buy from your store, it also encourages them to make repeat visits and purchases. You cannot get this benefit if customers are frustrated on your website. This frustration comes about by way of slow load times occasioned by complicated and messy designs on your website. If this is the case, your marketing spend may continue to lack good ROI. For a remedy, you can use advanced marketing analytics solutions. With the help of these tools, you can get up-to-date insights into the user friendliness of your site. Such metrics can be used to optimize your website for better results.

Reduce Shopping Cart Abandonment

Shopping cart abandonment is a significant element of e-commerce business. Keeping shopping cart abandonment rate low is always a very huge challenge for many e-commerce business owners. The lower the cart abandonment rate, the more business the e-commerce store does. The right metrics can help business owners to keep cart abandonment rates low. What to do? You can diligently monitor customer activity on your e-commerce website to enable you identify pain points in the customer journey. This done, you can then take the right technical measures to make the customer journey smoother. This helps to cut down on cart abandonment. Just some small tweaks here and there are what you really require to make shopping easier for your customers. Whenever cart abandonment rate is high, it means there is some friction somewhere particularly at the checkout stage. You can remedy this by simplifying the process. You can also offer multiple payment options, in addition to sending reminder emails with marketing incentives like discounts and token gifts.

Personalize Marketing Strategies

In today’s hugely competitive e-commerce business environment, only smart marketers survive. Personalized marketing strategies help most marketers to survive the business environment.  The one-size-fits-all marketing strategies are clearly less effective today. With the help of modern tech tools, it is now possible for marketers personalize their marketing efforts just at the click of a button. This is however effective if the marketers fully understand their audience. The right metrics are handy to help with that. This is mostly by way of segmentation marketing. Smart marketers can track customer behaviors like repeat purchases and cart additions then tailor their email and ad campaigns with the help of the metrics. If you want to survive in today’s e-commerce world, personalization is no longer an option in marketing efforts. It is now an utmost requirement since most customers now expect businesses to know what they want even before they do.

Leverage A/B Testing

You can gauge the effectiveness of your marketing through marketing metrics. The best technique for doing so is through A/B testing. This technique is also known as split testing. With A/B testing, e-commerce business owners can try different marketing strategies and monitor their effectiveness. A/B testing is an especially valuable tool for e-commerce businesses because it allows business owners to see exactly how customers are interacting with their websites and the products they are selling within the websites. Business owners can even leverage AI to predict winning variations and to optimize faster for better results.

Tested Techniques to Improve Your Key E-Commerce Metrics

The best way to know how well you’re doing in your e-commerce business is to diligently track your efforts. This involves measuring the important metrics of the business continuously. Deliberately targeting the most relevant and important metrics is hugely important to the success of your e-commerce business. If you tract these metrics well enough, it can be pivotal to boosting your e-commerce sales and revenue. Doing so requires techniques that can help improve on the metrics since measuring your e-commerce store’s performance is always a diligent and ongoing effort. If you can carefully instigate and measure the following data, it can help you to improve some of the most important e-commerce metrics.

Increase in Average Order Value

The more you sell the more revenue that accrues to your business. Using tested marketing techniques to get your existing customers to increase their order value is one credible way to increase sales. If you manage to get them to spend just a little more, it can be cumulatively significant to boost your overall revenue. Techniques like bundled products, upselling, free shipping, buy-two-get-one-free technique, good discounts on repeat purchases, and personalized recommendations can help boost your Average Order Value. The more you get your existing customers to buy, the more sales you make.

Optimizing your Conversion Funnel

In e-commerce business, conversion can at times be tricky. But, business owners that really understand the actions visitors take on their websites can manage to get around this tricky nature. Knowing what visitors do on your website is essential to improving your marketing results. If you get the metrics right, it can help you to quickly identify if there are any issues with your checkout process. You can continuously optimize the checkout process for better results. The right metrics will enable you to know when your checkout process needs to be simplified to make it more user-friendly. This simplification can involve shortening the process and making your payment options not too limited. You can include several payment options that are universal, easy to use, secure and popular with shoppers.

Reducing Cart Abandonment Rate

Shortening your checkout process as discussed above is one great way to reduce cart abandonment rate. High cart abandonment rate translates to reduced sales and lost revenue. Even though cart abandonment is an unavoidable part of having an e-commerce shop, reducing it can significantly help you to make more sales. To reduce cart abandonment, you can deploy marketing techniques like abandoned cart reminders, limited-time discounts, and allowing guest checkouts. You can send follow up emails along the customer journey to remind customers of abandoned carts and to lure them back to complete their purchases with discounts and upselling. In fact any technique that helps to ensure customers finalize their purchases is recommended. The more customers complete their purchases, the more sales your business makes.