The Most Necessary Ecommerce Metrics For Your Online Store

The Most Necessary Ecommerce Metrics For Your Online Store

You know what your eCommerce business needs to achieve desired results? You need to work on E-COMMERCE METRICS.

To become the best eCommerce entrepreneurs or as the best eCommerce solution, you need to focus on the metrics. In fact, entrepreneurs obsess to measure and optimize the metrics giving them better sales results.

However, if your business has reached a certain point then there is no need to focus on every single metrics.

Instead, optimize and correct the right metrics.

Need to know what are correct e-commerce metrics?
In the post below I have listed the 5 essential eCommerce metrics that will have a huge impact on your business and bring it on the right track.

1. Sales Conversion Rate
Sales Conversion Rate

As an entrepreneur, you may know that there is no single formula for success.

According to dictionary Conversion Rates can be defined as the percentage of customers who take a specific action you want.

It is the percentage of website visitors who fill out the form, call your company and actually make online purchases.

No matter what your current conversion rate is you can actually increase it. Some of the ways are-

Customer’s Safety- The consumer must feel safe while buying anything from your store. Provide with SSL certification to your website to protect their transaction.

Privacy Policy- Consumer information is very sensitive, so it becomes necessary for you to build trust and state clearly your privacy policy.

Check For Errors In Content- Wrong Spelling and incorrect grammar can lower down your site’s impression. Always double check content before publishing.

User-Friendly Gestures- Try to include buttons that make the whole buying process simple. Add Buy Now button on product pages to avoid the buyer to scroll down the whole page.

Product Images- What is an eCommerce site without a picture? Include proper pictures of your products. They must be technically clear and taken from every angle.

Trust Factor- Live chat or the chatbots help you gain a lot of trusts. It helps you win loyalty and give your customers real-time support.

Alternative Payment Options- Trust me buyers feel secure if you give them cash on delivery options. Multiple payment options like PayPal, Credit Card and Net Banking make the buyer feel secure about the website while shopping.

2. Average Order Value
Average Order Value

Average order value in an eCommerce Metric that measures the average of a total order placed over a period of time.

  • The average amount of money each customer spends per transaction
    Figured out by dividing your total revenue by the number of orders.
  • This is one of the important metrics for any online store to focus on and drive key business decisions like advertising, store layout, and product pricing.

How To Improve Average Order Value

Split up your customer bases like Low, Medium and High Spenders. Also, you can categorize them on the frequency of orders made and type of products they are purchasing.

Once this is done your customers can be targeted with advertising according to their group.
High spenders can be awarded free coupons and low spenders can be targeted with discounts and offer to improve their value.

Other methods include

  • Cross-selling additional products and services.
  • Adding free shipping on higher orders
  • GIve timely discounts

3. Repeat Customer Rate
Repeat Customer Rate

The repeat customers spend 33% more than a new customer.

Repeat customer rate is the percentage of customers who returned to your website to make a second purchase from your eCommerce store.

You actually need 9 first time shoppers to get real conversion of 1 repeat customer!

If someone gets happy with their first purchase and with your customer service they are likely to come back to your online site.

Why Repeated Customers matter?

  • Repeat customers are the crux of most successful businesses.
  • They are the easiest customer segment to target.
  • They are your brand ambassadors
  • A repeat customer has 60%-70% chance of converting
  • They are easier to sell to.

How to improve it?

  • Provide great customer service
  • Offer special prices, rates and offers to your repeated customers.
  • Maintain database of such customers and send the relevant and timely content of offers and discounts.
  • Evaluate the use of loyalty program.
  • Personalised email content

4. Website Traffic
Website Traffic

Website Traffic Is Important.

Do You know what should be your 2018 Resolution? To increase traffic to your website.

Website traffic is defined as all visitors coming to your site. You can easily get the count of traffic at your website by adding up all the visitors to your website from every source.

Website traffic still remains important in 2018, as digital marketing is at its stake, it becomes important to analyze website’s performance. It actually determines how many new customers you received and how many sales you made.

How can you improve it?
Invest in the non-paid source of traffic such as organic search results, content marketing, video promotions and email marketing to existing clients.
Also invest in paid marketing and ad campaigns such as display ads, search ads and other ads aiming to target your potential customers.

Also invest more and more in SEO – Search Engine Optimization

It is the practice of making your website as accessible as possible to reach the target customers through search engines.

While looking for traffic on your website, not only ask “How many people visited” but do check the following parameters-

  • How longer your users stay?- Get the measure of metrics such as bounce rate and time on page as bringing huge traffic is easy but is useless if the traffic leaves the website within seconds.
  • What percentage of visitors actually made purchases? Getting large audience is not enough if they are not right. Determine how many purchases are actually made on your eCommerce site by checking out the conversion rate.

5. Revenue By Traffic Source
Revenue By Traffic Source

Revenue by Traffic source is breaking down the total revenue of your website from organic searches, paid search, referrals etc. This eCommerce metric highlights all the sources of direct traffic for your eCommerce site.

You can view the highlights by properly tracking your eCommerce store’s activities through Google Analytics.

To Improve Revenue By Traffic Source

  • Identify and stop spending the channels that don’t work

If you find out any channel that is not yielding any traffic and not delivering any results then stop spending time and money on it.

  • Double your investment on the channels that are profitable

Scale up the channel that gives you traffic and invests more in it. Go this is your chance.

Okay! Keep an eye on every end that brings traffic to your site, grow comfortable understanding your business, read all the metrics and work to improve them.

Author Bio – Arpita Gupta
Content writer at ThemeJungle and BuildaBazaar.

The best ecommerce solution in India. BuildaBazaar has been the best ecommerce website builder since 2011 and can help you create online store website in just 24 hours.

Source: SaaSGeek

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Know Best Features of a Perfect Ecommerce Theme Store

When a customer steps into your website to make purchase, they not only look up for the product feature rather they look up for a whole store experience. Your eCommerce theme store is one the most important aspect of your online business.

It is the design that marks the first impression about what the customer sees when looking to buy from your store. In general it is the layout and overall look and feel of your website template that plays an important role.

BuildaBazaar’s theme storeThemeJungle has 100+ premium and professional online store themes. In the article below I have compiled the must have features to be kept in mind by retailers that will help them identify the right theme for their Ecommerce store.

  • Uncluttered Navigation- Keep It Simple

It is important for theme stores to provide with themes that have minimum navigation. As it becomes quite tacky when customers have to navigate a lot to search for their product. Thus choose a template for your ecommerce store  that has the least amount of “levels” to navigate, making it easy for your visitors to perform search.

  • Responsive and Approachable Design

With increasing number of mobile users and mobile devices it becomes important for your ecommerce website to be responsive. All the themes in the BuildaBazaar’s theme store have responsive design, meaning the website templates layouts just fit every screen, giving an optimal viewing experience to your customers.

  • Large And Beautiful Banners- All About UI and UX

An attractive ecommerce website template lets you showcase your offers and discounts in an prominent way. A decent mix of product pages, large banners and offer banners makes sure that your customer can see what they’re buying from a few different angles. Similarly one need to make sure that the images are not too large  and shouldn’t take up too much of a user’s screen. All the themes of ThemeJungle are perfect in giving the best UI and UX experience.

  • A Well Drafted Blog

While choosing any of the ThemeJungle’s theme make sure you have a well-designed blog layout, giving you a good hold in all your content marketing activities. All themes in the BuildaBazaar’s theme store include a featured blog, with featured images making sure it fit well with the store.

  • Proper Documentation

Providing with the best theme isn’t the only thing to keep in mind , we at ThemeJungle make sure that our retailers stay clear-headed about the technology and updates in the theme. All themes of ThemeJungle are well documented, make sure to check these out before making your decision.

  • Cross-Browser Compatibility

This feature ensures that your theme works well different browser. Basically you need to make sure that the theme looks fantastic in all the browsers. The themes of ThemeJungle are cross-checked for appearance, functionality and code over multiple browser.

  • Speed

It is good to have number of features in an website template, but one need to make sure that these feature should not slow down the loading speed of your online store. Though all the themes of ThemeJungle give good experience with the design and is even fast and efficiently coded on SaaS platform.

Visit ThemeJungle and BuildaBazaar today, select from the best online store themes for your ecommerce store now. All the themes are equipped with the listed feature making you stand out of the crowd.

Source: http://blog.buildabazaar.com/8-best-features-perfect-ecommerce-theme-store/

7 Must Have Features For Your Ecommerce Mobile Application

Want to give your customers the best User Experiences and boost your ecommerce revenue? Check these 7 features your E-commerce Application must have.

Shoppers have now shifted from online shopping to mobile shopping due to ease of buying process and quick access. At every level you need to make your business app to interact with the audiences rather than to engage them with website. Ecommerce businesses giant or entry level both are now focusing on their ecommerce apps. Mobile comprises of 59% of all ecommerce transactions worldwide and is expected to grow further by 2018. Clearly all the companies have big opportunities in the coming year to increase their revenue through online sales from application.

To cater business through your application one need to ease the buying process to attract more customers. Smooth user end experience and similar kinds of features you need to add in your ecommerce application to make it stand out of the others.

Listed below are the best 7 features that one must include in their ecommerce mobile application to deliver the best to your users:

1- Simple Registration Process:

Customers may feel clumsy to fill long forms asking lot of information form. The registration process has to be made simple and easy by the ecommerce mobile app builder. People rarely fill the forms that have more number of fields rather they like to make easy registrations with social media login. Big names in E-commerce solutions such as Infibeam, Amazon and Flipkart keep the registration process simple.

Never make your customer loose interest in your app and keep the registration process simple.

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2- Give Informative links with Minimum Clicks– Simple And Uncluttered Navigation:

The success rate of the app depend on its look and feel and the user experience it offers. The navigation through your should be made simple. One need ensure that the app content should not appear crammed up as a device has limited display size.

Thus it becomes important to keep the design of application simple and uncluttered and also make it responsive according to various screen sizes. A mobile app for ecommerce

not only showcases its products rather it creates a connection with user to interact. By simple navigation I mean to say that a customer should not spend hours searching his product and standard flow should be maintained in the application.

If the app becomes too difficult, then chances are that it can be deleted no matter how loyal your customer is.

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3-All Payment Options Available:

Sometime it may happen that a customer builds up a strong wish to buy a product from your app but are not able to find the payment option he usually uses. This can bring a drop in your sales. Hence, include all type of payment options available to increase your sales. One may include the following payment options-

  1. E Wallets– Paytm, Freecharge, PayUMoney, Mobikwik ect
  2. UPI- Unified payments Interface Apps
  3. Plastic Money – Debit/Credit Cards
  4. NetBanking
  5. Aadhar Card – Aadhaar Enabled Payment System
  6. COD- Cash On Delivery

This is the one of the most important feature of an ecommerce app and helps in pulling maximum number of shoppers.

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4- Push Notification:

Push notification feature has been incorporated into the list of features by most of the successful ecommerce mobile apps. Adding push notification means you can reach to the audiences with immediate promotions, special offers and new product launches. In gaining effective sales, push notification give quick results. Ecommerce mobile app design seems incomplete without push notification, thus becoming an ultimate feature to boost up the sale. Programmers integrate this feature with analytics to gain magnificent outcomes.

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5- Feedback System:

Allow your customer to rate your services, it is not always possible that whatever services you offer will be positive. So if customer have some negative review for you, your services and products than they should not hesitate to display. If you have only positive feedback about your services and application they it may feel that you are misleading your audiences. Mixed reviews can help you and your business take positive steps to improve.

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6- Analytics:

To earn revenue you need to keep an eye on your app performance. Thus analytics become and useful feature for the business owner but not for the users. With this feature the business owners come to know about the buying patterns of their customers. Google Analytics is a tool that indicates their behaviour towards purchasing the product. Through this the business can understand users’ interest through session time, click through rate and how the customer uses the app to search various categories.

By analysing customer behaviour you can truly define your strategy of promotion for a user to drive sales in positive direction.

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7. Exclusive Offers/Discounts:

Offers and discounts are most favourite strategy to attract your customers to motivate for using your app. Offers and discounts offered to install app will motivate people to download your app and retrieve those offers.

Giving deals and discounts on their favourite product will make them feel engaged with themselves.

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All the above feature listed are the one used by best ecommerce apps available online. I believe that these 7 features will help small businesses to become best ecommerce platform.

Every ecommerce platform should aim at providing best experiences to clients including all the features to increase sales and boost revenues.

5 Dropshipping Solutions That Can Help You Automate Your Business Routine

5 Dropshipping  Solutions That Can Help You Automate Your Business Routine

Dropshipping is advertised as simple and easy to start, positioned to be especially good for first-time merchants and so on. Basically, the main advantage of drop-shipping in ecommerce logistics is the ability to sell products online directly from the supplier, but with no need to keep your own warehouse and handle the shipping. Let’s look at some of the top drop-shipping platforms in more details in order for you not to get lost in their variety and pick the most suitable one for your business.

Inventory Source:

Inventory Source allows picking one of the four plans which would best suit the company’s needs and budget, the first plan being totally free. Also, this platform does its best to automate such routine tasks as uploading product information to your existing website or automatically updating products info daily if any changes are made by the supplier.

Hublogix:

Hublogix

Hublogix is an e-Commerce backend automation platform focused on cutting down the efforts and time online entrepreneurs spend on operations from check-out to product delivery, including inventory management, order routing and shipment tracking. Hublogix will help to automatically keep track of the real-time inventory levels.

Dropship Commerce:

Dropship Commerce

Dropship is a B2B integration SaaS platform which works to maximally automate integrations between retailers and suppliers, helping them exchange products, inventory, and order data. Dropship Commerce also offers a wide range of integration tools to suit any customer already using certain business applications or sales channels.

Spark Shipping:

Spark Shipping helps to save time by automatically processing orders being sent to specific suppliers in the required format. It also does a good job with synchronizing stock levels with the vendors, automatically updating inventory and routing orders. However, this solution isn’t recommended for total start-ups that haven’t worked up any orders yet.

Etail Solutions:

Etail Solutions

Etail Solutions works on the basis that integrates all your sales channels within one interface. This software automates various daily workflow procedures and decreases the need for additional staff as the business grows. It manages inventory across all channels and automatically replenishes popular items by making purchase orders.

Author – Pragyan Sharma

Content Writer at Buildabazaar – The best enterprise ecommerce platform in India.

Source: SaasGeek

The Best Ways to Boost Conversion of your eCommerce Website

The Best Ways to Boost Conversion of your eCommerce Website

Mobile analytics is an important sort of metrics that help in providing a direction to your business, and also helps in measuring and determining your exact position in the competition. Measuring the mobile analytics provides the insight you need to determine how mobile really contributes to your bottom line. These help in knowing exactly how the first version of your new mobile app is being used so that you can prioritize investments in the next version. The result is a clear understanding of mobile app engagement so that you can make data-driven decisions. Here are some of the best ways to do just that:

Streamlined Checkout Process:

To build trust within the checkout, make sure your page matches your site’s look and feel, a disconnect between the two can throw off your customers. Most importantly, keep your SSL certificate up to date, to make a safe payment.

Easy Navigation:

Easy Navigation

Use a clear menu structure and keep it consistent across every single page on the website. If you’re not sure how to structure your menu, heat mapping is a great tool to see how your users are interacting with your website.

Site Wide Search:

It helps you keep track of what people are searching for so you can adjust your website accordingly. To ensure it’s most effective, place the search bar near the top menu navigation, use placeholder text, use auto-complete or suggestions. This helps your customers further refine items based on search terms.

Optimize Site Speed:

Optimized Site Speed

Customers expect their experience to be fast and efficient, so you can’t afford to lose customers to a slow website. Your page speed also affects SEO, impacting a new visitor’s ability to find your eCommerce website through search engines and PPC channels. Slow load time means less visibility on Google.

Mobile Responsive:

Mobile Responsive

A responsive mobile design means your website will adapt its layout to the size of the device and switch orientation between portrait and landscape as the device is rotated. The design must also account for a touch screen interface instead of traditional cursor inputs, requiring a user-friendly design with clickable items.

Author – Pragyan Sharma
Content Writer at Buildabazaar – The best eCommerce platform and E learning solutions provider in India.

Source: SaasGeek

Biggest Brands On Buildabazaar

BuildaBazaar has emerged as an eCommerce platform which helps you build and boost your business. Technology and internet boom has brought in the demand for ecommerce platform for almost all kind of businesses. It wouldn’t be a hyperbole, if we say that BuildaBazaar takes pride of it’s 60,000+ valued brand-names, that you already trust. Here are some of the biggest brands opened on Buildabazaar:

AmulOnline
Amul Online

AmulOnline, a platform where you can order a wide range of Amul products- fresh milk, curd, butter, chocolates, cheese, kool drinks, sweets, etc. from the comfort of your home or office. The product ordered will be delivered at your doorstep, at the time you need it! The Gujarat Co-operative Milk Marketing Federation (GCMMF) jumped to the digital platform with this special Amul app designed by Infibeam- Ahmedabad-based e-retailer.

Panasonic
Panasonic

Panasonic makes available in India its wide range of consumer electronics, home appliances like LCD & Plasma TVs, DVD players, Home Theatre Systems, Smartphones, Cameras, Camcorders, Car Audio Systems, and a wide range of system products including communication ones like Mobile Phones, High Definition Videoconferencing, Professional Audio Video products like Broadcast Cameras, Projectors and Displays, Business Solutions including Printers, Whiteboards and Security Solutions.

Crossword
Crossword

Crossword aims to be a point of cultural and social interaction where authors and poets hold court, to be informed, entertained, even enlightened. Crossword stocks the widest range of Books – Movies- Music- Toys- Stationery- Magazines and CD ROM’s. Among the numerous writers who have visited the store are Arundhati Roy, Vikram Chandra, Vikram Seth, Kiran Desai, Amitav Ghosh, Ricardo Semler and Jack Canfield.

Spykar
Spykar

The Brand firmly believes in youth being the core of the brand. Spykar’s designs are made to suit every living soul. With a vast collection of denim, trousers, t-shirts, shirts, jackets, and accessories, there is a Spykar product that caters to every mood. To complete the gamut there’s a Brand new range of exotic perfumes and deodorants.

@home

@home, positioned as a Home styling expert, is a perfect one-stop solution store for home planning, with finest quality furniture, soft furnishings & home accessories to enhance your indoor and outdoor spaces. With a wide range of your living, dining, bedroom, kitchen, and garden – In an effort to help customers make an informed decision whilst buying furniture, @home displays its furniture in ‘actual room settings.

Author – Pragyan Sharma
Content Writer at Buildabazaar – The best eCommerce platform in India.

Source: SaasGeek

The Effective Video Advertising Strategy For Your Ecommerce Store

Effective Video Advertising Strategy For Your Ecommerce StoreWhile video marketing can be effective, there’s no denying it can also be a challenge. Then there’s the cost issue with video, plus the need for smart strategy. Your videos need to get on the right sites, in the right formats, in front of the right people. Here, we can take you through a lowdown on how to create an effective video advertising strategy for your ecommerce store:

Multiple Formats For Videos:

You’ll need this for distribution, and it needs to be planned upfront. For example, videos on YouTube can be a bit longer, like up to 3-5 minutes. Make sure that text is big enough to be read on a phone. Most videos on social media will be viewed on mobile devices.

Product Pages:

Think carefully about which how-to videos you decide to create. You can also make a video for a particular product line or brand you sell. Then use that video on every individual product page.

Email Marketing:

Email MarketingAdding videos in emails can double click-through rates. You can increase that even more if you use an animated gif for the video image. Once you’ve got some videos on hand, you can also weave them into some of the more advanced email marketing tactics. It’s even possible to personalize the videos you send in emails combined with automated marketing techniques.

Search Engine Traffic:

Search Engine Traffic:
Include a video sitemap on your site. Add a transcript of each video to its individual page. Include comments function on your video pages. Include links back to the products mentioned in the video. Optimize each pages’ title and meta description tags – just like you would for any other piece of content. Add social sharing buttons and an email opt-in form.

Blogging:

BloggingVideos can fit into almost any other content marketing format you’ve been using – not just emails. They can be used on your blog, in webinars, and linked to in ebooks, whitepapers, and case studies. And a way to diffuse the cost of those videos.

Author – Pragyan Sharma
Content Writer at Buildabazaar – Best Place To Build Online Store & Sell Products Online in India.