Best E-commerce Development Mantras For 2022

Table of Contents

1. BEST E-COMMERCE DEVELOPMENT MANTRAS FOR 2022
2. Gross Margin
3. Subscriber Growth Rate
4. E-Commerce metrics at the conversion stage
5. E-commerce metrics at the Advocacy stage
6. FAQ

BEST E-COMMERCE DEVELOPMENT MANTRAS FOR 2022

There are dozens of metrics to track the performance of your E-Commerce store. Sometimes you fail to keep track of the numbers and how figures are in the picture of your business success. Growing your store, the focus is needed in two areas:

• The right KPI and measuring/ tracking the relative metrics.
• Have a proper analytic system to measure all the metrics.

You need vital e-commerce metrics in each stage of the sales funnel of your business and customer lifecycle. To get the best e-commerce development for your business, extend your ideas beyond the box.

Discovery, Consideration,  Revenue, Retention, and Advocacy are different stages of the e-commerce sales funnel.                                                             

If you’re a seasoned E-Commerce veteran, five metrics can quickly help you to get a clear picture of where you are and where you are going to be.   Our world is changing. E-commerce will only get bigger and better as the year moves on. New technologies will help it achieve that. The coronavirus has changed things all over the world, and it’s expected that buying behavior is likely to boom. Even now, more and more people prefer buying things online because they are not willing to step out and risk exposure to new variants.

Key#1

Gross Margin

Revenue being the bottom line, one has to keep an eye on the gross margin or the difference between revenue and cost of goods sold. This is important as you need to reinvest profits for growth in the next year.

The key question is: How many people are aware of the product or brand?

So at the top of the funnel lies ‘Product Discovery’

Here comes Brand Name Search- where people search your brand using metrics like Google Adwords, Google Search Console & Google Keyword Planner.

Key#2

Conversion Rate

The concept behind this is that visitors are converted into buyers. Conversion isn’t always limited to topline website traffic, thus evaluation from different sources must be done, like advertising, e-mail campaigns, and promotions, to understand what is most effective in driving sales and plan accordingly.

The key impression metrics need to be activated for this. The Facebook reach metric is different from impressions, as it may include multiple views of your ads by the same people. For views, YouTube and other Video hosting platforms play a major role. In Adwords, pay attention to the Search Impression and Display Impression share.

Apart from this, an idea every month on the number of times your website was served on Google Organic search results, giving a good KPI for overall reach, is the work of Google Search Console.

Key#3

Subscriber Growth Rate

The use of email marketing to spread news of special products, exploring ways to expand your audience via multimedia, Pinterest, or other targeted platforms. The count of monthly readers and email list, and conducting research for engagement of audience in other social media platforms, is a must.

Value per Visit is the data point that helps you understand the value of each visitor. This helps in guiding decisions around advertising and in calculating returns on your marketing investments.

Key#4

From Interest to Action: Metrics That Drive Customer Decisions

Down in the funnel comes a point where the focus needs to be on convincing potential and existing customers to engage with your brand. Here comes the tracking and analyzing metrics for inbound traffic to your store, email, and social media engagement. On-site traffic is the key performance indicators that establish the easiest way of measuring your website. To measure the appropriate data for your website, you need to understand the policies of the e-commerce website development company in India in your locality.

Email marketing metrics with growth rate, bounce rate, open rate, click-through rate, and conversion rate are the top engagement KPI’s that your email marketing team may adopt for business success.

Social Media Engagement metrics: likes, shares, comments, and clicks per post have engaged KPI’s monthly.

Key#5

E-Commerce metrics at the conversion stage

Tracking sales and revenue is regularly a standard procedure for any business. Tracking e-commerce businesses with more advanced KPI’s at the behavioral level takes the system to the next level. Micro-conversions with Email collection and ordering samples are the pre-determined steps that occur before a sale. The e-commerce team should keep an eye on tracking the relationship between micro to macro conversion ratio by testing and optimizing email communication, improving the sample-to-order ratio.

Number of Transactions, Average Order value, Sales Data, Conversion rate, Number of visits, and Customer Acquisition cost are some of the critical business metrics to measure the effectiveness of paid measures.

Key#6

E-commerce metrics at the Retention stage

The key loyalty metrics that you can use as primary KPI’s to evaluate how to retain customers in business. Repeat purchase rates, purchase frequency, and Order gap analysis measure customer retention starting from the point of understanding and improving customer loyalty.

Along with the Average Customer lifetime value, followed by metrics like average order value, purchase frequency, and time period, guides your business.

How long a customer will shop with us is the exact question that you should dig your mind with.

Key#6

E-commerce metrics at the Advocacy stage

The reason existing customers will want to recommend your brand comes from the customer experience. A good customer experience is more of a lead to recommendations. Net promo score(NPS) measures how a customer recommends your brand. The target is to make the average NPS across all customers the optimum possible. Customer satisfaction gauge to be tracked and segmented monthly.

Summarizing all the above metrics together on a single spreadsheet is an effective means of running a data-driven e-commerce business. With these, you get all the insights into what’s working and a clear vision of any opportunities for improvement. webOdoctor, the best e-commerce development company in Bhopal, intends to not just provide a hassle-free platform for its customers but also stand as a consultant to guide you in creating the most effective base for your business.

Let me take you to  some biggest E-commerce trends –

1. AI that increases the online presence of e-commerce sales.
2. Growth in voice search
3. AI shop learns about shoppers
4. Personalized experience
5. Improved chatbots with a good customer experience
6. Mobile shopping to moving.
7. Customer response to videos
8. Latest subscription packages
9. Good digital services for conversion that help you generate sales.
10. B2B has immense growth and evolution.

Deciding if a trend can help you generate business, then follow the same trend and go in sync with it. Let's do it together with the best ecommerce app development company.

Frequently Asked Questions (FAQ)

1. What are e-commerce development mantras?
E-commerce development mantras are proven strategies, practices, and approaches that help businesses build, optimize, and scale their online stores for better performance, customer experience, and revenue growth.

2. Why are e-commerce strategies important in 2022?
The year 2022 saw massive growth in online shopping habits, accelerated by digital transformation. Strong e-commerce strategies ensure businesses can keep up with competition, meet customer expectations, and maximize sales opportunities.

3. Which technologies are best for e-commerce development?
Popular technologies for e-commerce include Shopify, Magento, WooCommerce, BigCommerce, Laravel, React, and Node.js. The right choice depends on your business size, budget, and scalability needs.

4. How can personalization improve e-commerce success?
Personalization helps deliver a unique shopping experience by recommending products, tailoring content, and offering dynamic deals based on customer behavior—leading to higher conversion rates and customer loyalty.

5. What role does mobile commerce play in e-commerce growth?
Mobile commerce is critical, as most customers shop via smartphones. A mobile-friendly website, responsive design, and fast checkout processes are essential to boost sales.