3 Distinctive Ways to Measure Your Ecommerce Success

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• The significant growth witnessed by the
  E-commerce industry in the recent past is
  expected to continue in 2017 and beyond. The
  ecommerce economy has opened doors of endless
  opportunities for businesses and enabled them to
  reach out to a wider audience.

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• Therefore, more and more people are combining
  their traditional business with the digital
  commerce technology and improving their business
  bottom line. Consequently, there has been rise in
  the number of outsourcing e-commerce development
  agencies too.
• Now that you own an e-store, you must find out
  how profitable it is. Here we are considering
  following three metrics

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Conversion rate

• Conversion rate, in brief, is the percentage of
  your site visitors that complete a transaction
  and it is often very low. While so many people
  visit your site, only 2-3 percent of visitors end
  up making a purchase and rest just leave without
  buying anything.

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• There could be many reasons including
• Technical issues
• Dissatisfied with the shipping options or cost
• Unable to find the desired product
• Inadequate product information
• Not feeling secure to share personal details

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• Since conversion rate is an obvious metric to
  determine the success of your e-store, you must
  find out solutions for the aforementioned
  factors. Choosing the right platform and a
  proficient ecommerce development specialist can
  also play a decisive role in the success of your
  e-store by reducing technical issues.

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Customer acquisition cost (CAC)

• The CAC metric is important for your ecommerce
  company as you can determine the profitability of
  your business by calculating the difference
  between how much money you can extract from your
  customers and the costs (CAC) of extracting it.

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• This metric has been growing in use as today
  companies can engage their customers in highly
  targeted campaigns and track them via analytics
  tool as they progress from interested leads to
  loyal customers.

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Customer loyalty

• Being an online shop owner you understand how
  difficult it is to attract customers to your
  e-store. And you would definitely want them to
  return to your web shop again and again. If you
  could provide your shoppers an interactive and
  pleasant experience with persuasive product
  descriptions, informative images, preferred
  payment options and seamless checkout process
  then you can retain your customers and build a
  loyal customer base.

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• Customer loyalty can be measured by customer
  lifetime value (CLV), which is basically a
  measure of CAC against value of purchases made by
  customers during their course of relationship,
  minus customer retention costs.
• You can make the most of your web presence by
  taking the right approach and measuring your
  level of success at regular intervals.

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Conclusion

• We have focused on 3 different methods of
  measurement, viz. conversion rate, customer
  acquisition cost and customer loyalty. Which
  metrics would you like to consider for measuring
  your online stores success? We are very excited
  to know!
• Originally Posted https//goo.gl/d8NEfd

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Interested To Know More About

• Outsource Woocommerce Utvikling
• Magento Utvikling
• E-commerce Utvikling Ekspert