21 e-commerce KPI's
Key performance indicators are becoming common in large corporations as a way to measure and monitor the success of key activities. But they can also play an important role in any sized ecommerce business. A KPI — key performance indicator — is simply a measure of some process, event, or activity. An example is checkout abandonment, when shoppers exit before completing an order. This KPI should be monitored closely by all ecommerce businesses. If it is typically 10 percent and suddenly goes to 15 percent, that may be an indicator that something is broken on your website, like your SSL, your shipping estimator, or your credit card authorization. By monitoring that KPI daily, you will mitigate the risk of losing business if something breaks. Establishing KPIs KPIs differ among businesses. For example, large corporations monitor the time between orders and final payment, striving to reduce that cycle. For an ecommerce business, checkout abandonment is an important KPI and lowering tha