To build a successful Ecommerce business it is important to understand customer behaviour and preferences. Here are 11 customer metrics that you can track for your Ecommerce business. These customer metrics tell you where to find your customers and what customers want.
11 Ecommerce customer metrics
- No. of orders - It is the total number of orders. You can track this over time to get a sense of seasonality in purchases. It can also tell you if there are any specific periodicity in customer behavior like increase in sales on weekends, etc.
- Average order size – It is the average amount of order. It can be in dollars, euros, etc. This tells you the purchasing power of your customers. You can modify your inventory accordingly.
- No. of new customers – It is the number of customers who have placed their first order. Percentage of people who have bought at least once to the total signups is a good metric to measure. This tells you about the conversion rate.
- No. of repeat customers – It is the number of customers who order more than once from your site. This tells you the stickiness of your brand or service.
- Top customer locations - It is the top 5-10 locations from where customers place orders. It can be the top locations by number of orders. Or it can be top locations by revenue. Based on the location you can come up with location specific promotions and offers. Also you can start pushing local products based on the demand.
- No. of new customer registrations - This is the number of new signups.
- Total registered customers – You can track this over time to see the growth rate in signups. Also, you segment it by gender, location, age, etc to see what type of people are attracted to your site.
- Ratio of new customers to repeat customers - If this decreases over time then it is a concern.
- No. of items per order
- No. of abandoned shopping cart sessions – This tells you if the number of steps to buy an item is too much. Longer the purchase process more the abandonment.
- Customer satisfaction
You can set monthly goals for each of these customer metrics to understand your customers better. Tracking these customer metrics daily, taking action based on periodic review will get you there over time.
To give this a try on your own data, you can try Ubiq Analytics for free.