Simplify the analysis of your e-commerce performance with our dedicated guide: discover the key indicators to track in your e-commerce dashboard, how to identify gaps between your different sales channels and how to optimize your sales in an omnichannel strategy.
Whether you’re a start-up or a seasoned e-tailer, tracking and analyzing your e-commerce KPIs is essential for assessing your site’s performance and identifying areas for improvement.
However, this analysis can be somewhat complicated. Indeed, when you sell on several sales channels at once – your e-commerce site and several marketplaces, for example – sales data can sometimes be more complicated to analyze, for the simple reason that they emanate from several sources (your store’s back-office, those of marketplaces, etc.).
But how do you simplify this analysis and get a general, centralized view of the data?
In this article, we’ll show you the right indicators to track in your e-commerce dashboard, how to identify disparities between your different sales channels and how to optimize sales in an omnichannel strategy.
What is an e-commerce KPI?
A KPI (Key Performance Indicator) is a metric, quantified data or measurable and quantifiable factors used to analyze your company’s performance. In e-commerce, KPIs are present at every stage of the buying process, and can be divided into 3 categories, depending on the purchasing phase. Each phase therefore has its own set of e-commerce performance indicators.
Here is a non-exhaustive list of the main e-commerce KPIs to monitor:
- Phase 1: Acquisition (generating interest)
- Number of sessions per visitor
- Number of new sessions per visitor
- Average session length
- Acquisition cost…
- Phase 2: Conversion (turning a visitor into a buyer)
- Conversion rates
- Cart abandonment rate
- Medium basket
- Bounce rate…
- Phase 3: Loyalty (encouraging repeat purchases)
- Return rate
- Retention rate
- Net Promoter Score
- Delivery times…
- Earnings KPIs
- Sales figures
- Number of orders
- Sales margin
- Cost and operating income…
E-commerce KPIs enable you to quantify the development of your business and support you in optimizing your e-commerce. It is therefore essential to choose the most relevant e-commerce KPIs according to the areas you wish to measure. Be clear about your objectives and the figures you need to reach them. Then select the most interesting KPIs for monitoring your business.
The importance of e-commerce site analysis: An in-depth look
In the competitive world of e-commerce, understanding your site’s performance is essential to the success of your business. Analyzing an e-commerce site is more than just looking at the number of visits or sales.
It’s a detailed assessment of the user experience, the customer journey, sales conversion and the effectiveness of marketing campaigns. This enables companies to identify opportunities for improvement, understand friction points and make informed decisions based on hard data.
Ultimately, careful analysis leads to a better understanding of customer behavior and preferences, which is crucial for optimizing strategies and ensuring sustained growth in the e-commerce sector.
Deciphering key performance indicators for marketplaces: A necessity for growth
Marketplaces, those online platforms where several sellers offer their products to a vast audience, have become key players in e-commerce. To measure their success and steer their development, it is essential to refer to key performance indicators (KPIs). These KPIs enable marketplaces managers to monitor the health of their platform, evaluate the effectiveness of the strategies implemented, and adjust their actions according to the results observed. Whether it’s conversion rate, customer acquisition cost, customer lifetime value or seller satisfaction rate, each indicator sheds light on a specific aspect of performance. In an environment as dynamic as that of marketplaces, understanding and optimizing these KPIs is essential to ensure competitiveness and growth.
The e-commerce dashboard: Your compass for navigating the digital world
E-commerce, with its ever-changing dynamics, requires sophisticated tools to monitor and interpret performance. Among these tools, the e-commerce dashboard stands out as an indispensable instrument for any online store owner or manager. It serves as a visual summary of key performance indicators, consolidating essential data on sales, traffic, customer loyalty and much more. Having a well-structured dashboard is like having a compass that points the way, highlights areas for improvement and provides a clear view of the effectiveness of marketing campaigns. In the vast ocean of e-commerce, a high-performance dashboard is the key to navigating with confidence, making informed decisions that will propel the company to success.
Why analyze and track your e-commerce KPIs?
First of all, we can see a considerable increase in the number of omnichannel platforms and buyers, implying a densification and multiplication of the sales data to be analyzed.
As a result, it’s essential to be able to make the right decisions at the right time to guarantee business growth. KPI analysis and monitoring therefore meet two major challenges:
The challenge of follow-up and monitoring
On the one hand, it enables you to take rapid, high-impact action in the short term, based on the monitoring of your data.
Benefits :
- improve responsiveness: in the event of an anomaly, be able to apply corrective measures quickly
- quickly identify successes and capitalize on them
- A strategic challenge
Improve your performance over the long term by using data :
- compare by period and/or sales channel
- optimize your distribution network
- optimize your offering
- know your strengths, weaknesses and areas for improvement
- define and develop business rules in your information system
- define your Make or Buy strategy (internalize/externalize) or partner selection strategy
How to analyze e-commerce performance indicators?
Once you’ve selected the e-commerce KPIs that are most relevant to you, it’s time to analyze and track them. But how do you do this when you’re selling on multiple channels simultaneously?
Is it possible to centralize sales data for marketplaces, your e-commerce site and private sales?
Using an e-commerce dashboard
To facilitate data analysis and interpretation, a number of dashboards are available.
First of all, an e-commerce dashboard is an analysis and sales management tool that gives you a global view of all your data, on a single screen.
The e-commerce dashboard will then collect the most relevant information and data from your various pages, then centralize them, enabling you to measure the performance of your business and your objectives.
What’s more, you’ll also be able to track your website’s performance and evolution. To make your e-commerce dashboard easier to read, it’s customizable and offers visibility on the performance indicators that seem most important to you.
Shippingbo Analytics e-commerce dashboard
This is why there are various dashboards, such as the Shopify Analytics Dashboard. Or Shippingbo Analytics.
Shippingbo Analytics is an e-commerce dashboard designed to centralize and analyze all your e-commerce data and performance, in real time, across all sales channels.
Shippingbo Analytics meets three major strategic needs for your business:
- Analysis needs: comprehensive analysis of your omnichannel e-commerce data
- Tracking and monitoring needs: tracking disparities between your sales channels and monitoring changes in your performance over time.
- Strategic need: use this data to support your decision-making process
Pricing
This new offer, priced at just €9.90 excl. tax/month, is non-binding. You can cancel your subscription at any time, by registered letter or simply by e-mail to the following address: [email protected].
Features available in the Shippingbo Analytics Pack
| FUNCTIONALITIES | DETAILS |
| Analysis of order volumes | Total number of orders over the periodAverage number of orders per day over the periodChange in number of orders over the periodNumber of orders by sales channel |
| Revenue analysis | Total sales over the periodAverage sales per day over the periodChanges in sales over the periodSales by sales channel*All these indicators can be filtered by sales source. |
| Analysis of sales disparities between channels | List of offers sold (products)Quantity sold by sales channel over the periodHighlight sales disparities between channels (potential anomalies)Access to detailed sales performance for an offer |
The importance of identifying disparities between sales channels
| Here are a few examples | What to do? |
| Because of an unpublished product sheet | Check that my listing is published via my feed manager or the marketplace back office |
| Because of poor referencing | Review and optimize my SEO |
| Because of a competitor with the best value for money. | Go to my repricer to check my price range |
| A competitor with a more attractive transport promise | Optimize my shipping process / delivery offer |
| I have no stock left in the Marketplace warehouse. | Implementing an omni-logistics strategy |
A few tips for building on success
- Guarantee available stock / avoid shortages
- Understand the factors behind my outperformance and replicate them
- Optimizing my margin
- Detect trends to refine my supply strategy
An ecommerce dashboard with Shippingbo Analytics
In conclusion, KPI analysis and tracking are essential for e-tailers who wish to assess the performance of their e-commerce site and identify areas for improvement. Analysis can be complex due to the multiplication of data sources from multiple sales channels. However, by choosing the right KPIs and tracking the right metrics, e-tailers can track trends, detect anomalies and take corrective action quickly to improve their business over the long term.
To simplify this analysis and gain a centralized view of data, Shippingbo Analytics is a reliable and efficient solution. By collecting sales data from different sales channels, it offers a comprehensive view of sales performance, enabling companies to make more informed decisions to improve their growth. In short, analyzing and tracking e-commerce KPIs is essential for a successful omnichannel sales strategy, and Shippingbo Analytics is a valuable aid in achieving this.
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