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Online Metrics Tools

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By Becca - November 22nd, 2018- in Go-Getter Blog

Every successful business is driven by metrics.
Metrics are powerful tools that tell you where you’ve been and to where you’re headed.
Here are the most widely used metrics that every entreprenour should know by heart.

Average Order Value (AOV)

  • An average dollar amount that customers spend when they make a purchase
  • AOV = ($total revenue) / (#) orders placed

Increase Average Order Value Tactics

  • Cross-sell
  • Up-sell
  • Offer complementary products
  • Free shipping with a minimum purchase
  • Coupons

Sales Conversion Rate

  • How many visitors make a purchase
  • =  ( # of sales) / ( # of users) x 100%

Maintain High Conversion Rates

  • Buy a .com domain (.org domain erodes trust)
  • Add detailed contact information
  • Ensure your search tab function matches what people search for

Repeat Customer Rate (RCR)

  • The percentage of customers who return to make a second purchase

Improve Repeat Customer Rates

  • Exceptional customer service
  • Implement loyalty programs
  • Send out relevant newsletters

Shopping Cart Abandonment

  • Percentage of people who added items to the shopping cart but did not complete the purchase

Limit Shopping Cart Abandonment

  • Speed matters
  • Be transparent with all costs and fees upfront
  • Have clear return policy in place

Email Bounce Rates

  • Undeliverable email
  • Email Bounce Rates = (Total # of bouns emails) / (Number of emails sent) *100

Keep Email Bounce Rates Low

Growth Rate

  • The rate at which your email list is growing
  • Growth Rate = (Total Number of Subscribers) – (Unsubscribers) / (Total Number of Email Addresses on Your List)

Email List Tactics

  • Build out your email list
  • Add content that increases your trustworthiness
  • Personalize – avoid robot-looking emails

Open Rate

Open Rate Tactics

  • Get personal
  • Create an engaging subject line
  • Avoid spam (4-letter) words

Clickthrough Rate

  • The percentage of email recipients who clicked on the content given in the email
  • Clickthrough Rate (%)= (Total Clicks / # of Delivered Emails) * 100

Clickthrough Rate Tactics

  • Mobile-friendly
  • Show your product in use
  • Add reviews

Conversion Rate

  • The percentage of email recipients who clicked on a link and completed the action that was promoted
  • Conversion Rate (%) = ( # of people who completed the desired action) / (# of total emails delivered) * 100

Conversion Rate Tactics

  • Provide facts
  • Tell your brands story
  • Include coupons

Blog: Bounce Rates

Low Bounce Rate Tactics

  • Provide focused and relevant content with the right keywords
  • Keep paragraphs short and easy to understand
  • Avoid popups

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