09 Apr Evaluate your e-commerce website development with simple metrics
Numeric management of an e-commerce website is very productive and can help in increasing the traffic. You can always use Google Analytics to view your website’s performance. But what the numeric calculations for an ecommerce website? Below are 4 methods which are highly effective for uplifting the traffic for an e-commerce website.
- Conversion rates – conversion, in simple terms, can be defined as the visitor visits your website and does what you want him to do. The last page of a transaction like “thank you” page can become your goal page in Google Analytics and you will get to know your conversion rate. Basically, conversion rate is the rate at which the visitors convert into customers.
Divide you total conversions by the number of visitors. Thus, you will get to see the total tariff in a number of ways. You can also consider the number of visits to your website. It will include the people who have returned to your website. There is an option available where you will get detailed information of the people who have viewed the website twice.
Thus, the formula of conversion rate would be -:
Conversion rate = Total conversion/Visits
Cost per conversion – High conversion rate is not just enough. You also need to consider the cost per conversion. This gives you better analytic result.
Cost per Conversion = Monthly website expenses/total conversions.
Average profit per conversion – Knowing your average profit or loss will help you manage your website more nicely. The formula is –
Average profit per conversion = (gross revenue from website-total costs)/Total Conversions
Abandonment rate – Abandonment rate means the people who first visited your website and then stop visiting it later. You need to keep a check on abandonment rate. If it is increasing constantly, there is problem with your website. The formula is-
(Number of Visits to the Conversion Page – Number of Visits to the Goal Page)/Number of Visits to the Conversion Page