Before scaling your e-commerce store for huge online growth, it is important to fully understand the digital metrics that are indicators for product fit and market fit validation.

These are commonly known in the industry as KPIs (Key Performance Indicators) and will be imperative for you to track and measure the success of your online initiatives.

1. Customer Lifetime Value (LTV):

Lifetime Value is the measure of how you will profit from your average customer during the time they remain a customer.

2. Returning Visitors:

Measures the percentage of users who return to your site after their first visit.

Note: A good ratio of returning visitors to new visitors is above 20%

3. Time on site:

The average amount of time users spend on your site per visit.

Note: A good average is 2 minutes.

4. Pages per visit:

This metric measures the average number of pages that users navigate on your site in a single visit.

5. Bounce rate:

The percentage of users who visit a single page on your website and then leave before taking any action.

Note: A good bounce rate is lower than 60%

6. Transactions:

By tracking the number of transactions made, you are able to Make sure growth is steady by identifying opportunities to improving your number of monthly, weekly, and even daily transactions.

7. Average Transaction Value:

Including Average Transaction Value in your KPIs will result in selling more items per transaction or higher-priced products per transaction.

8. Revenue Growth:

Tracking revenue growth on a month over month basis will allow you to make sure that your monthly revenue numbers are going up.

9. Unique Visitors:

If all other KPIs are trending up, then the unique number of visitors to your site will reflect more sales and revenue. Make sure to manage your LTV / CAC ratio while you grow in unique visitors so that you remain profitable.

When developing a digital marketing strategy, refining the success criteria of current campaigns, or conducting post-mortem reports and analysis, identifying the right metrics and KPIs can greatly impact the inferences made and the conclusions drawn. Creating a rolodex of metrics using the aforementioned data measurements is a great starting point to ensuring you’re online sales are increasing.

Now just sit back and enjoy your stores success!