The conversion rate
The conversion rate on a website is the most important indicator to measure the performance of your process of converting visitors into customers. However, its analysis is not without its difficulties. Indeed, it must be analyzed with caution, because many visits are aimed at seeking information and not purchasing. The rate also depends on the product category offered on your site and only comparisons between two periods of the same product category really make sense.
The conversion rate
It depends on the traffic of your site, if your communication actions attract customers who have a low probability of purchase (because they do not fit into the target), the Conversion rate will automatically be lower.
Your purchases of keywords for example can have an impact on this one, it is therefore necessary to have a calculation specific to each traffic source. Another problem of analysis arises, taking an average for hundreds of individuals leads to masking the differences. A site that massively recruits new customers can thus see its conversion rate stagnate or even lower. In addition to the conversion rate, there are other essential indicators:
1. The number of customers
The number of customers over a given period is an indicator of essential performance.
2. The CVAE or contribution on added value
Rare are the cases where the customer buys on his first visit, so he will sometimes have to come back several times to your site to whether or not to finalize your purchase. The persistence rate thus measures the proportion of visits made by the same Internet users out of the total number of visits to your site. And the persistence time measures the time between this first visit and the return to your site. It must be analyzed according to product categories.
3. The number of page views
It's not just about bringing visitors to your site, it's also about getting them to visit different pages.
4. The most viewed pages and content
Knowing the most consulted or least consulted pages and content will allow you to optimize performance of your most important pages (registration, payment, etc.).
5. The customer journey
Further analysis will allow you to identify the different types of routes and so do the analysis of the conversion tunnel.
6. Time spent
It indicates the degree of interest of Internet users for your website. When they spend time to navigate on a site, this indicates that the site meets their expectations. However, it is an indicator to be used with caution, because the time spent can also correspond to difficulty finding information.
7. Engagement indicators
Engagement indicators like sending a message, using interactive features, watching a video, downloading an ebook, etc. indicate the degree of interactivity of the site and therefore the quality of the visitor experience. You can calculate a ratio between the actions carried out and the transactions carried out. Like the percentage of visitors who signed up for a newsletter after downloading an ebook.
8. Cart abandonment rate
The abandonment rate analysis can be instructive to improve the commercial performance of your site by asking you for example who gives up ? A what stage of the process ?
You can measure the performance of your site by combining these different indicators into one, with for example the RFM (Reference Frequency Amount).
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