The success of your ecommerce store is dependent on many factors, including the marketing strategy you use. But even with a great marketing strategy in place, it’s important to track and measure its effectiveness on an ongoing basis. How do you do this? In this article, we’ll explain how to do just that!
Track Your Store’s Performance by Using a CRM
To track the performance of your ecommerce store, you might first want to use a CRM (Customer Relationship Management) system. A CRM allows you to collect important data on each customer who purchases from your site and then provides an easy way for managers to access this information as needed. Many benefits come with using a CRM.
A CRM system lets you enter information on each customer who purchases from your site, including their name and email address. The data collected by the CRM should also include what they bought, why it was purchased (e.g., gift for someone else), and where/when it shipped. This kind of information is useful for helping managers to figure out who their best customers are and what they’re buying.
Monitor the Progress of Your Campaigns Through Analytics
To measure the success of your marketing campaigns, it’s best to use analytics software. These tools will track how many customers click through on an email or banner ad you send them and then take them directly to a page where they can purchase one of your products.
There are many benefits to using analytics tools. By tracking how customers behave on your site, you’ll be able to see which pages they’re spending the most time on and what keywords brought them there in the first place. You can then use this information to improve your site’s user experience by adding more calls-to-action or search engine optimization (SEO) keywords.
Use Ecommerce Performance Indicators
Ecommerce performance indicators are another way to measure the success of your ecommerce store. These reports provide data on how well you’re doing compared to other online stores, including details like conversion rate and average order value (AOV). These ecommerce KPIs will enable you to see which areas you’re excelling in and where you could use improvement. If your AOV is much lower than that of other stores, then it might be time to look into what products they offer that yours don’t.
When creating an ecommerce Performance indicator report, it’s important to use comparative figures that include more than just your own store. For example, if your AOV is lower than that of other similar stores in the industry (but higher than what it was last year), then you know where to focus efforts on improving sales and customer experience.
Create a Plan for Each Campaign to Track Success and Learn From Mistakes
An effective way to keep track of your campaigns is by creating a plan for each one. This will make it easier for you to monitor the progress and success rate of each campaign and identify any mistakes that you made along the way.
For example, if you’re holding an email marketing competition, then you might create a plan that includes identifying your target audience, creating email content and offers, sending the emails out on a specific day/time, and finally analyzing what worked well and where more changes need to be made.
Analyze the Data you Have Collected to Make Effective Marketing Decisions
One of the best ways to make sure you’re keeping track of your campaigns is by analyzing what data you have collected from them. This means looking at everything from how many customers clicked through on a banner ad or email campaign and purchased a product to how much money that specific advertising strategy brought in overall.
The purpose behind this step is to figure out what works best for your store. For example, if you know that email marketing brings in the most revenue, then you’ll want to focus more of your time and money on this strategy than others. By analyzing all of the available data, managers will be able to make much better decisions about how they should proceed with their marketing.
Review All of this Information Periodically
It’s important to periodically review all of the information you’ve gathered throughout the year. This will help managers see how far their ecommerce store has come and what could be done better in future campaigns.
Reviewing your data doesn’t have to happen just once a year, though; it can take place as often as necessary, depending on how quickly your company grows. Reviewing this data more frequently can help you decide what new strategies to try and which ones should be dropped altogether.
If you’re looking for a way to measure the success of your ecommerce store, then try using KPIs and other types of reports. These are easy ways to see which campaigns brought in more customers or how many sales were made because of them. You can also monitor the activity on your site with performance indicators while creating plans for each campaign will help you learn from your mistakes. Finally, reviewing all of this information periodically throughout the year will give managers valuable insight into how they can improve their ecommerce strategy moving forward.
