As Jay-Z said: “I got a million ways to get it. Choose one. Bring it back. Now double your money and make it stack. On to the next one…”
Wise words indeed. Likewise, if you’ve delved into the world of conversion analytics you’ll have found that there are an overwhelm of metrics on offer, all begging for our attention. Each promising to give us valuable insight about how well our site is performing, and where we need to make changes in order to improve conversion rates.
The key is to take it step by step. Know the right ones to focus on. Then choose one, understand what it tells us or where we need to look next. Then lock in that insight, then move on to the next one.
In this blog post, we will discuss the 5 most important conversion rate optimization metrics for ecommerce sites. We will explain what each metric means, and give you tips on how to improve them.
Bounce Rate
Bounce rate is the percentage of people who visit your site and leave without visiting any other pages. This metric is important to track because it can help you determine how engaging your content is. If a lot of people are leaving your site after viewing just one page, then you need to work on making your content more engaging. There are a few different ways to do this, such as adding more images and videos, or making your text more concise.
New vs Returning Visitors
Another important conversion rate optimization metric to track is the percentage of new vs returning visitors. This metric can help you determine how well you are retaining customers. If you have a high percentage of new visitors, then you need to work on converting them into returning customers. One way to do this is by offering discounts or coupons to first-time buyers.
Time on Site
Another metric that is important to track is time on site. This metric tells you how long people are staying on your site. If people are only spending a few seconds on your site, then you need to work on making your content more engaging. One way to do this is by adding images and videos, or by making your text more concise.
Add to Cart
The add to cart conversion rate is the percentage of people who add items to their cart after viewing a product page. This metric is important because it can help you determine how well your products are selling. If a lot of people are adding items to their cart, then it means that your products are appealing to customers. However, if a lot of people are not adding items to their cart, then you need to work on improving your product pages.
Shopping Cart Abandonment
The shopping cart abandonment conversion rate is the percentage of people who add items to their cart but do not checkout. This metric is important because it can help you determine why people are not completing orders. There are a few different reasons why people may abandon their carts, such as high shipping costs, unexpected charges, or long checkout process. If you know why people are abandoning their carts, then you can work on fixing those issues.
These are just a few of the most important conversion rate optimization metrics for ecommerce sites. To learn more about conversion rate optimization, or to get started optimizing your site, talk to us today.
They can help you improve your conversion rates and grow your business. Thanks for reading! We hope this blog post was helpful.
