One of the hardest parts of managing an e-commerce business is monitoring indicators. After all, e-commerce metrics are used to evaluate and monitor the results obtained through sales.
There are metrics that are essential to know if your business is growing and others that indicate problems that need to be solved. It is through data monitoring that you can know if your actions are bringing the expected results and how your online store is strategically positioned.
Follow the text in full or, if you prefer, go directly to the part you are most interested in checking out from the menu below:
The importance of collecting metrics for your e-commerce
12 e-commerce metrics that are essential for your analysis
Be careful with vanity metrics
5 tips for collecting and analyzing metrics
Managing your e-commerce is easier with Yampi
The importance of collecting metrics for your e-commerce
In simple terms, e-commerce metrics are what tell you whet indonesia phone number data her your business is doing well, badly or averagely, and enable you to analyze ways to improve the situation and make strategic decisions.
An analysis developed by the Brazilian Electronic Commerce Association states that Brazilian e-commerce could reach a turnover of up to R$185.7 billion in 2023. Therefore, analyzing the data is extremely important for anyone who wants to have a successful online store.
Read also: E-commerce: the complete and updated guide for your business [2023]
By collecting data and analyzing e-commerce metrics, you gain access to valuable information about consumer behavior and the effectiveness of the marketing strategies that have been applied to your online store .
This allows for a more complete view of the e-commerce landscape, providing data that can be used to optimize site performance and improve the user experience.
Don't forget the difference between metrics and KPIs
It is quite common to get confused about what e-commerce metrics are and what KPIs are . Therefore, we will help you to always remember which one to look at when analyzing your e-commerce.
E-commerce metrics
E-commerce metrics are quantitative measures that help evaluate the performance of a business or process.
A metric can be a simple count, such as the number of visitors to a website, or a more complex measurement, such as sales conversion rate .
In this sense, metrics provide an overview of the performance of a company or process.
KPI
It is the acronym for Key Performance Indicator, in English. Or, in good Portuguese: key performance indicators .
KPIs are metrics defined as the most relevant for understanding business performance and evaluating its performance.
They are used to focus the company's attention on critical areas to achieve business objectives.
Can the same piece of data be an e-commerce metric and a KPI at the same time? Yes, but pay attention to the details.
The number of visitors to a website, for example, can be an e-commerce metric;
Now, the number of new visitors can be a KPI.
The difference lies in the degree of importance of a given metric for it to become a KPI. Receiving more visits is important, but receiving new visits shows whether the marketing strategies are working and whether the brand is reaching new people.
12 e-commerce metrics that are essential for your analysis
Now that you understand the importance of metrics and how not to confuse them with KPIs, it's time to learn about the main e-commerce metrics to keep an eye on when evaluating your business's performance.
We have separated 12 essential metrics that should be on your radar, in two stages: metrics for beginners and advanced e-commerce metrics. We explain each of them in detail below:
E-commerce metrics for beginners
These are the basic metrics to evaluate frequently and understand how different efforts are having an effect on your online store.
Sales conversion
It is the proportion of website visitors who actually complete a purchase.
How to calculate sales conversion rate: number of visitors ÷ number of completed sales x 100 = % conversion rate.
You might also like: How to make online sales? Product tips, platforms and more
Click-Through Rate (CTR)
Percentage of visitors who click on a link, whether from an advertisement, blog post, website banner, marketing email or social media post.
How to calculate CTR : clicks obtained ÷ total number of impressions x 100 = % click-through rate.