How to manage a business project so that it makes a profit?
To achieve success in the e-commerce sphere, first of all, it is necessary to follow such immutable rules of trade as measuring project performance indicators (KPI). Simply put, measure everything that can be measured, over time you will understand which indicators are capital-forming and will be able to adjust them in time.
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There are a huge number of indicators that can be analyzed and taken into account when creating a business development strategy or when assessing its economic component. Which of them to prioritize is up to you, but you should know the key positions by heart, using them to build the basic principles of successful sales.
Today I will tell you how to properly track the dentist phone number list effectiveness of e-sales. First of all, it is important to structure the goals, dividing them into areas. Key performance indicators of e-commerce are divided into sales KPI, marketing KPI and service KPI. Let's dwell on each of them in more detail and highlight the main points for ourselves. So,
1 Sales KPIs include:
Average purchase receipt
This is one of the key indicators in any business. It is not difficult to calculate it - you need to divide the amount of income received by the number of orders, the result will be the average check of your web resource. With the help of this data, you can judge the efficiency of the sales department, the relevance of the discount system and the overall work of the online store.
The average purchase receipt can be increased with the help of tempting commercial offers – free delivery, related products, discounts and incentive bonuses.
Sales volume
Sales volume is a figure that is set in the plan by managers for a certain period of time. Plans can be set for a month, quarter or year. This is a necessary indicator, because if you do not have a clear figure to strive for, it will be more difficult to achieve the desired heights.
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Net profit
Here is net profit, I think everyone can count ) We subtract all expenses from the total income and get the figure for which everything was started. To increase profit, you need to reduce expenses - review all costs, eliminate unnecessary expenses and ensure control over the relevance of prices.
2 Marketing KPIs are:
Bringing a web resource to the TOP
An important indicator of a correctly chosen marketing strategy isbringing a web resource to the TOP of search enginesHow difficult it will be to achieve this depends on the qualifications of the selected specialists, the specifics of your business and the occupancy of the niches.
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Amount of traffic
Using such analysis tools as Google Analytics and Yandex Metrica, you will learn which promotion channels work best, which resources bring more visitors to your site, how social networks work, and which channels you underestimated earlier.
Abandoned Carts
As practice shows, the rate of abandonment of a purchase at the stage of forming a basket can be up to 70%, depending on the specifics of the business. Quite a high rate, you can track the reasons for such behavior using Google Analytics tools.
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Refusal to purchase
In order to understand how effectively your site's landing pages are composed, such measurements are needed. A bounce is considered to be an option when a user, having entered your site, immediately leaves it. Using analytics services, you can look at the bounce rate and understand the reasons that caused it. To calculate the bounce rate, you need to divide the number of visitors who quickly left the resource by the total number of users who entered the site. Having analyzed the reasons - design, usability, content quality, you can reduce the bounce rate and increase the flow of targeted traffic.
Conversion
The conversion rate is a very important element of the sales system. It is important to evaluate not the number of clicks, but the number of completed target actions, that is, sales. Conversion is the number of calls and the number of orders placed, the result of which is a sold product. You can calculate the target audience indicator of those who made a purchase by dividing the number of sales by the total number of visits. According to research by the Nielsen Norman Group, the average conversion rate of e-commerce in 2014 was only 3%. An acceptable conversion rate is in the range from 1 to 10%. If it is below one, you should look for the reason. To increase the percentage of conversion return, analyzewebsite usability, relevance of prices, response to order processing.
