Why track e-commerce metrics?
9 most important ecommerce metrics to track in 2024
1. AOV
Average order value (AOV) is the average amount spent by customers per order. It is a useful metric for understanding consumer behavior and can help identify opportunities for upselling and cross-selling to your average customer.
2. New customers
3. Returning customers
4. Net profit
5. ROAS (net returns on ad spent)
6. POAS (profit on ad spent)
7. CAC (customer acquisition cost)
7. Traffic sources (attribution)
8. Orders
9. Page views
How to track key ecommerce metrics?
Manually
1. Create spreadsheets or use tools like Google Sheets or Microsoft Excel to record and track your e-commerce metrics.
2. Calculate metrics: Use formulas and calculations to determine the values of your e-commerce metrics based on the data you’ve collected. For example, to calculate AOV, divide total sales revenue by the number of orders.
3. Input data from various sources: Don’t forget to get data from your Google and Meta Ads, shipping platform,website, social media,etc.
With WorkMagic
- Orders
- Page views
- New customers
- Returning customers
- Sales
- Total cost
- Net profit
- Net margin
How to optimize your strategy based on your KPIs?
WorkMagic can provide clear, data-driven suggestions with the power of AI, such as:
1. Low ROAS – Check if your ads lead to unqualified clicks, improve messaging on the ad for clearer expectations.
2. Low ROAS – Introduce bundle offers to increase AOV and ROAS
Conclusion