Online shops that measure and track their metrics can make important decisions on the basis of professional evaluations rather than from the gut. By continuously collecting and evaluating your online shop data, you gain valuable knowledge about your visitors and can strengthen their shopping experience in the long term.
“Metrics” and “KPIs”
It’s important to understand the terms "metrics" and "KPIs" and that they cannot be used interchangeably. In an organisational context, metrics are quantifiable measures used to track all areas of a business. When these metrics reflect long-term business objectives, they become KPIs, which vary by business.
In eCommerce, some metrics may seem to provide very little insight into a business. Nevertheless, you should be aware of your shop metrics in any case, because your KPIs will evolve as your business grows. Shopware customers can easily access a recorded history of their shop metrics from their backend under “Marketing > Analysis”. Those who depend on a separate tool can fall back on Google Analytics.
1. Website traffic
By tracking this metric, you get a deeper understanding of where your customers are coming from, at which times, from which device, the average time spent on your website, and number of page views per visit. You will also find out on which days of the week or at which times your customers prefer to browse your shop and – with the help of marketing automation – can play out targeted sales promotions.
Tip: It is important that you always see the numbers in relation to a targeted marketing campaign, such as a limited "Buy three, pay two" campaign. At best, you have already run a similar campaign and can determine the more successful conditions based on a comparison.
2. Conversion rate
Conversion rate reflects the percentage of visitors that complete a certain goal – this could be anything from signing up for a newsletter to making a purchase. Specific conversion goals depend entirely on the nature of your business.
Tip: Using A/B tests, you can determine which banner in your shop is more target-oriented, which form design appeals to more visitors, or which call-to-action button is clicked more frequently. In this trial, be sure to concentrate on a few changes (e.g. different wording) in order to fine tune what works best.
After relaunching with Shopware, Oberalp’s sales and conversion increased by 100%
3. Average order value
On average, how much money do your customers spend on a purchase? With this information, you can run campaigns to increase the shopping basket value. It is therefore an important indicator that has a direct influence on your turnover, and can also help you recognise dangerous tendencies at an early stage.
Tip: Encourage your customers to buy more than they originally planned with attractive cross-selling or bundle offers. You can also suggest complementary items in the product description. Promotions such as free products, which the customer receives above a minimum shopping basket value, provide an additional incentive and increase your average shopping basket value.
4. Customer lifetime value
This takes the average order value into consideration, along with how frequently a customer makes a purchase, and how for long the customer can be retained. Improving the average customer lifetime value is crucial for your overall margin. That’s because winning a new customer requires significantly more resources than retaining an existing one. You can foster an ongoing relationship with your customers by focusing on customer satisfaction, rewards programs, newsletters, etc.
Valuable metric for predicting future customer behaviour. This can be determined historically (based on recorded metrics from previous quarters) or predictively.
5. Exit rate
The exit rate illuminates important information about your sales funnel. Knowing the exact point when a visitor loses interest is vital for improving the overall customer journey. Other important parameters are the dwell time. On the basis of this information, you can find out why visitors spend more time on a page, or whether you should perhaps make an adjustment somewhere to improve dwell time (e.g. more robust product descriptions).
Tip: If your customers are losing interest after adding products to the shopping cart, you should closely look at your checkout process. Is your shop missing an important payment method? Can new customers make a purchase without registering? Are your promotional discounts not working?
These are just a few of the aspects your need to consider in order to strengthen your conversion rate in the long term. The time spent on product pages can also be increased with the help of captivating text, descriptive images, videos, and cross-selling functions.
6. Return rate
The return rate is also an important indicator that can provide you with information on how to optimise your shop. Question the reasons for the return and if you have a high return rate, check whether these can be influenced for the better.
Tip: How well do your detail pages represent your products? It is especially important to give as much information as possible about the dimensions or size of the items. High-quality photos and videos of your products, product advisors , and guides can all be utilised to help customers find the right product.
7. Newsletter performance
It’s no secret that newsletters are one of the most effective ways to inform your customers about new products or exciting offers in your shop. The most important newsletter metrics can be broken down into opening rate and click-through rate. Again, by using A/B testing, you analyse important details such as subject lines, delivery time, newsletter content, etc.
Tip: Think about customising your newsletter content. If you offer products for women and men in your shop, you could specifically inform your female newsletter recipients with products for them. You can also attract customers who have not bought anything from you for some time back to your shop with a retargeting campaign.
Webshop analysis – Finding your own rhythm
Analysis tools never rest and can meticulously create a recorded history of the data that is valuable for your business objectives. The more closely you analyse your data, the more potential you have for growth: targeting and retargeting becomes possible, you become aware of your sales performance and top products, ideas on how to improve usability in your online shop come to the forefront, and much more.
Points to consider when controlling your online shop:
- Think carefully about which metrics are important for your business model. A niche shop can pursue other goals than a big player with a broad product range
- Decide on a tracking tool or software and closely familiarise yourself with its capabilities
- A KPI analysis must be carried out at regular intervals - it is best to schedule fixed dates for this (e.g. every month, quarter or holiday season)
- Collecting metrics is not enough! Learn to analyse them and derive follow-up measures for your online shop
In addition to your Shopware backend, the Shopware Community Store provides you with numerous tools that allow you to conduct a thorough analysis of your shop. We have put together a selection of the best tools for you. These represent the tools that are most popular for Shopware shop operators, have received very strong ratings, or offer you particularly noteworthy support when it comes to controlling your shop.