The Retail ECommerce Metrics That Matter
E-retailing in India is booming at a great pace with the current market value being $2.3 Billion which has grown from the $600 million two year ago. It can help you make smarter decisions about how much your products should be sold for, what you should pay for advertising, and even how you should market your business online. We are trying to find the best off-the-shelf ecommerce solution for us but we don’t have a US bank account and turns out to take advantage of shopify payment gateway to cut on the transaction fees, you need to have a US account. Ok, now that we’ve got that settled, let’s get down to the nitty gritty of writing your marketing plan! Adding event tracking as an added layer to your basic Ecommerce site tracking will afford a deep and insightful view on visitors’ behavior. The previous five points somehow are all different aspects of an articulated eCommerce marketing strategy and should always be included in the digital marketing services provided to companies. You can figure all of them out simultaneously or in any sequence, but you do have to have a general of your product offering, marketing personas and revenue goals.
My client is looking for an experienced ecommerce / web product manager who will be responsible for owning the online product range, pricing strategy, benchmark competition, etc. Every niche has its own lingo and you want to know it so well that you know the inside jokes in that niche! Though, a Key Performance Indicator is not a value that is directly measurable, but one that is showing the degree of fulfillment concerning certain objectives. Electronic commerce has also led to the development of electronic marketplaces where suppliers and potential customers are brought together to conduct mutually beneficial trade. This group of target customers, known as a niche market, forms the foundation of an strong online business. Most Payment Service Providers have the option to include a ‘payment link’ in email, sms or even whatsapp messages.
And that’s why targeting a niche can actually result in better sales: because shoppers searching for your products have narrowed down their interest to a specific item, and are almost ready to buy. I’ve got a professional-enough setup myself now for, like, I’m thinking ten bucks with a free tripod. Read key data on industry sales, trends in marketing and web content, technology investment, and more. Make sure you understand which payment methods people in your target market like to use and choose a payment gateway with support for those methods.
And while internet adoption and usage is increasing rapidly, the country’s largest startups are yet to devise solutions that will attract this new set of customers, according to Rajan Anandan , head of Google India and Southeast Asia. I can’t really comment on Stripe’s policy but if you are still looking for a payment solution and you are in the US, I recommend looking at SecureNet, which is available now as an option in your store’s admin. The blog post is packed full of sensible tips about lighting and smartphone camera features, and you’ll find some great tips on editing your smartphone photos. However, with all the data and ecommerce tools at our disposal, it’s almost impossible to take advantage of every report that’s offered to you.
Peter Fader is the Frances and Pei-Yuan Chia Professor of Marketing at the Wharton School of the University of Pennsylvania and the co-director of the Wharton Customer Analytics Initiative. EBS Launches Payment Gateway for New Start-ups and to offer Fast track, Internet Payment Gateway Accounts.
Amazon Payments is another great payment processor you can use, bringing the trusted name and brand of Amazon to your checking out process. I’m sure you have a ton of fantastic ideas that you believe are going to kill it the minute you throw up your store. For the first time, business analysts had a number of metrics and tools with which they could begin to make informed business decisions about how to improve site-wide performance. Marketing plan, we’ll be breaking down the marketing strategy and connecting its goals to the specific marketing activities that can be scheduled and measured. In view of that we have set aside a marketing budget of 25,000 US Dollars for the first year of operating the business.
Soon, Market Insights will be integrated into several of the most popular ecommerce platforms including Magento, WooCommerce, Shopify, Oracle Commerce, Demandware, and Squarespace. He will also comment on the latest evolutions of Russia’s cross-border e-commerce market with Farfecth being one of the rare Western e-merchants to have witnessed continued high growth over the past year. In addition, you’ll be able to use these metrics to build out sophisticated marketing plans that will impress the most data-driven CMO or CFO. Interpreting this data needs to take place in the context of your business and your other metrics.
I know, therefore what I meant was whether you could help me by sending a link to a site (I beleive there are plenty) which acts as a micro niche site, regardless of who owns it and to which niche it belongs to. The idea is that any metric you track should help you take definitive actions to correct/improve business.
Calculate your Conversion Rate by dividing the number of website sessions by the number of completed purchases to determine your ecommerce conversion rate. Goods are required to be stored in India itself and such storage services are offered as part of the marketplaces’ fulfillment solutions. We handle all the details to ensure your eCommerce website loads quickly every time, no matter how much traffic you receive.
Real rescue done guys keep it up.Product image handling on ecommerce website was nightmare for us, now no image compatibility issue with our inventory. Dedicated mobile payment technology is an excellent way to streamline customer service for online retailers.
Similarly for Amazon India, their largest seller, Cloudtail India Pvt, which is a joint venture between Amazon and N.R. Narayana Murthy’s Catamaran Ventures, generates at least 40% of their existing sales. The User Penetration” tab shows a comparison of user penetration rates for 50 of the world’s leading digital economies in the selected market (market segment, region) and year. Marketplace model of e-commerce means providing of an IT platform by an e-commerce entity on a digital and electronic network to act as a facilitator between buyer and seller.