Digital Ecommerce KPIs and Its Effect on Conversions

George Cacioppo thinks that in the world of digital ecommerce, conversion is one of the most critical KPIs. Various variables, such as time spent on site, number of visits before conversion, and type of content consumed, can give you valuable insights about your customers’ journeys. For example, if a customer lands on a cancellation page, it could be an existing customer who is concerned about canceling a subscription or a potential sign-up. However, an overall journey analysis can reveal who is actually looking at store pages. This way, you can determine who is willing to sign up or not.

Active digital commerce

Passive digital commerce involves businesses that accept payment and market online, but do not engage in physical commerce. Customers’ behavior has changed as a result of digitization. According to a report by Gartner, half of buyers say they would pay more for a better experience, while 40 percent said they would never buy the same brand again. Passive digital commerce involves companies that offer timely goods and accept online payments. Both types of digital commerce are important to increasing sales and profits, but each has its own distinct set of benefits and drawbacks.

Passive digital commerce involves businesses that use the internet to sell products and services, but do not conduct transactions online. In contrast, active digital commerce involves businesses that market online but process payments offline. These companies are increasingly adopting digital commerce as a way to increase sales with less work. Businesses that use this strategy typically have a centralized fulfillment site. As technology advances, so must businesses’ processes. Passive digital commerce helps businesses remain competitive by offering customers more options and greater convenience.

Marketing automation, George Cacioppo points out

When implemented in a digital ecommerce website, marketing automation software can help you generate relevant content across multiple channels. Automation may manage email campaigns, social media, website visitor monitoring, advertising, live chat, and text-messaging. George Cacioppo reminds that marketing automation software may target people from first contact to first purchase. Automating birthday emails to target users with special promotions increases revenue and conversions.

Purchasing marketing automation software can take a lot of time and effort. It can involve complex data analysis and a team of people dedicated to it. For example, if your marketing team is trying to target new customers, they need to know their demographics and interests in order to make the best decisions. But this can be time-consuming and expensive if you’re not using the right tools. With marketing automation, you can spend more time focusing on strategic tasks and less on mundane tasks.

Customer touchpoints

As the world moves from brick and mortar to digital, customers expect a positive experience at every point along their customer journey. Rather than simply focusing on the transaction, companies must create an immersive, personalized experience that will create brand loyalty. While every customer journey is unique, many similarities can be found. Touchpoints fall into three categories: pre-purchase, during-purchase, and post-purchase. Having a strong understanding of these touchpoints can help you craft the most effective customer experiences.

The first step in customer experience is mapping the customer journey. This may be a tedious task, but it will provide valuable information about your customers’ preferences and experiences. Many companies overlook this step because it can lead to frustration or worse. As a result, customer experience can be severely affected if billing processes are too complex. Fortunately, customer touchpoints can be mapped to give you insight into where to improve and optimize your processes.

Costs

Several factors affect the costs of starting and running an ecommerce website, including the number of pages, their content, and their size. The number of pages is important because it can affect the cost of copywriting, which will depend on how long each page is. George Cacioppo reports that a few hundred words for a simple page is not a large expense, while a three thousand word page with interactive features is likely to incur higher costs.

Setting up a website costs between $50 and $100. Depending on the size of the website, monthly maintenance and hosting may cost anywhere from $100 to $500. If you’re selling physical products, you’ll need to budget for product costs as well. Using a service like Shopify, for example, can cost as little as $29 per month. There are also paid apps and custom features that can help you customize your website.