Sure, we all are most likely tracking data for website and eCommerce metrics such as:
- Sessions (New/Unique)
- Page Views
- Bounce Rate
- Cart Abandonment
- Conversion Rate (Direct/Assisted)
- Average Order Value
These numbers provide great insight to the performance of one's marketing and merchandising, as well as the general health of the website content and structure. However, the tracking and analysis shouldn't end there. What other metrics should one consider adding to their dashboard?
I find that many organizations I speak with have a fairly decent understanding of what's going on in regard to new customer acquisition activities, but they don't necessarily have a good grasp of what's going on with their current or past customers. For example, do you know how much a customer is worth to you? Unfortunately, I'm often met with blank stares when posed. That's a good number to know in order to calculate at what CPA you're upside down in your marketing spend. Additionally, I'm often asked the question, "At what frequency should we be reaching out to our customers?" Or "How do we tap the power of social referrals from existing customers to drive new customers to our website?"
The following graphic displays a few metrics I like to track in order to optimize marketing programs focused on existing customers...