Understanding where you stand is one of the most important elements of an ecommerce business. An important way of gauging customer satisfaction is in understanding what they feel about how they felt shopping in your site. This is qualitative and subjective; a more tangible way of measuring this is by using a few parameters. These may not be the most definitive guide to assessing your ecommerce business; but it helps to get some idea of where your ecommerce business is headed.
Number of visitors
This is one of the simplest and easiest methods to know how well you fare in the industry. It is simple common sense that if you are receiving a high number of visitors, your popularity is high, and vice versa. Getting the number of visitors who visit your site is a parameter no doubt, but the ecommerce business needs to use this as just a beginning point. An ecommerce website can have thousands of visitors, but few customers. The business needs to analyse why visitors are not becoming customers. This will give it a good idea of how to fine tune its business.
This is another important metric to assess the position of your ecommerce business. This is one of the most common problems ecommerce businesses face. Analysing why there is cart abandonment can go a long way in understanding how well your business is doing. There may be a good number of visitors, but when many of them do not go on to complete the deal, then the underlying reasons for it have to be analysed and corrective steps taken. One way of doing this is in mailing these customers back to find out what is it that prevented them going ahead with the purchase.
Number of registered users
Another important parameter of how your ecommerce business is doing is the number of registered users to the website. Registered users are akin to subscribers in that they are keenly interested in the website. Sending out details of offers to registered users is one of the common ways by which an ecommerce business can expect to grow. The trick is to make a neat profile of these customers and keep sending them information about offers and other related aspects of the business. An ecommerce business would ideally like to expand on this list of registered users from time to time. The greater the number of registered users who come to the site consistently and shop on it, the bigger it is a measure of the site’s popularity.
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