Sep 18 2010

Key Performance Indicators for e-Commerce Websites

Published by under Ecommerce

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Did you know during the last Holiday season (Nov 1 – Dec 23, 2009) online retailers sold $27 billion in products and services? That’s $354,000 transacted a minute.

Today, E-commerce is a growing energy in our global economy despite economic challenges each country roles in and out of as we work on the kinks.  As users become more comfortable with purchasing online, you can expect business to conform to the consumer’s desires thus increasing competition.  With that said, the measuring stick for e-commerce is slightly different than the measuring stick for your brick and mortar store.  So you ask, how do I measure my success on my e-commerce website?

Answer: Key Performance Indicators aka KPI’s. Below is a list of some common key performance indicators that are important for measuring success on your e-commerce website.  I recommend that you consider using some of these methods to track your success.  Of course, key performance indicators will vary with your strategic intent.

Reality is each business is different and you should consider some of these KPI’s into your conversion funnel.

  • Conversion Rate: is the ratio of converting casual views into a purchase.
  • Average Order Value/Size: is the sum of revenue generated / the number of orders taken.
  • Add/View Items in Cart: is the ratio of visitors with product in their cart / purchasers that have closed the sale. (cart abandonment)
  • Percent New Visitors: the number of potential new customers landing on your site each month.
  • Ratio of New to Returning Visitors: the ratio of new to previously acquired visitors as well as a measure of customer loyalty and repeat online business.
  • Customer Life-Time Value: the likelihood that satisfied customers will tell their friends resulting in an increase in online/offline sales. This is more intangible and may be difficult to track.
  • New Account Signups: how much time and money are these new account signups spending on your site?

  • Page Conversions (Aka Page “Stickiness”): the likelihood of successfully retaining a visitor who arrives at a key landing page.

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Feb 12 2009

Best Email Marketing Services

Published by under Resources

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Today, it seems like there are millions of email marketing services out there and they all say “THEY’RE THE BEST!”.  I’m going to point out some of the TOP email marketing services you see today and recommend what I’ve and many other professionals have experienced as great services.

With years of  developing and managing direct marketing campaigns, I’ve had my share of working with companies that are so called the best at providing me with a good service. When you’re sending massive blasts, it counts to have a reliable company. Here are today’s top email marketing service companies and a short pro and con about them.

Company Pro’s Con’s
iContact Cheap, Fast, Easy iContact Branded, Limited scheduling options
Campaign Monitor Flexibility, Subscriber Management, Great Reporting None
ConstantContact Fast, pre-made templates Weak Subscriber tools, Poor reporting Constant Contact Branding
ExactTarget CRM intergration, Reliability None
Net Atlantic Allows customization Lacks report flexibility, complex setup
Mail Chimp Free for small campaigns, no MailChimp Branding Lack complex reporting tools

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Feb 28 2008

What’s Marketing 2.0?

Published by under Introduction

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Marketing 2.0 is a sub set marketing strategy that falls within the realm of modern business marketing plans. It’s a strategy that implements many electronic methods of capturing your audience in a modern society. Marketing 2.0 is a result of a paradigm shift in the way business is treated, as well as the way society captures its information.

This is not to say that traditional marketing methodologies don’t come into play when preparing your marketing plan. It’s a realization that needs to be played with the fundamentals or traditional marketing methods. A great fixation about Marketing 2.0 is that you can supplement this strategy in many of your traditional marketing channels.

Marketing 1.0 Marketing 2.0
Mass Snail Mailings Direct email campaign
Brochures Interactive tours
Cluterend content on your website Podcasting/Video Blogging
Dry and dull imagery Rich vibrant imagery

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Jan 14 2008

Why Marketing for Smart People?

Published by under Introduction

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This blog is dedicated to hard-working professionals that strive to balance forward growth while continuing to achieve personal, educational, and employer goals.  One of the many positive things I learned in my MBA was that there is no right or wrong answer to success. Success is generated by your passion which motivates you to continue to learn, love, and express in your life, and in your career.  This blog is a series of experiences, recommendations and synopsis’s that many people in organizational leadership/management face. In this blog we will touch on topics like marketing for the Millennial generation (‘iGen”) and what characteristics to look out for. We will break down the details so that when you’re preparing your marketing plan you will have many essential details to work with.

The reasoning behind this blog is simple.  ”Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” In other words marketing is essential to any businesses forward growth.  This is why it’s important to do your due diligence and research multiple sources; so that when you’re ready to implement your marketing plan you’ll have piercingly clear information to work with.  We all don’t experience the same talents or motivation yet can learn principals from others experiences. From there you have the choice to manage your situation based on other situations.

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