Essential Metrics for Ecommerce laid out

Business intelligence (BI) dashboard software maker Grow featured our Jim Snyder’s “Essential Metrics for Ecommerce” in its blog, The Pipeline this month.

Jim offers three pro tips and an important warning:

Essential Ecommerce Metrics
                                  Essential Ecommerce Metrics Blog Post
  • Optimize Backwards (“start measuring and making improvements from the bottom of your funnel and work your way up”)
  • More Muscle in Your Metrics (“data points without context like “Total Sales” or “Total Transactions” simply don’t convey as much information”)
  • Segmentation is the Secret (including “a few of our favorite shopper segments”)
  • Is Your Data Lying to You?

“It is too easy to open up your web analytics tool or dashboard and assume all those otherwise innocent sparklines, tables, and pie charts reflect accurate and comprehensive insights. Often, due to common analytics implementation issues like missing code, no cross-domain tracking, un-tagged campaigns and incomplete filtering, you end up with an incomplete or false picture…Always establish trust first. Get your analytics setup audited regularly to be sure you are making decisions with solid data.”

Jim also details “Our List of 10 Essential Ecommerce Metrics” in three categories:

  • Cart & Checkout Metrics
  • Behavior / User Engagement & Loyalty
  • Acquisition

He notes:

“Those are our minimum essentials. There are lots more to choose from, of course, and always new ones in development. A complete toolset would include more from Google Analytics Enhanced Ecommerce reports, but those take a little more expertise to implement and maintain correctly.”

Read the whole blog post here.

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