You’ve picked a strategy and begun the exciting journey of growing your e-commerce business, but without a proper way to track progress, it can be hard to know if you’re headed in the right direction. Identifying and measuring your Key Performance Indicators (KPIs) is crucial to understanding if you’re on your way to achieving real growth.

Knowing exactly which ones to pick can be hard to do, so we asked several of our customers and partners which KPIs and Metrics helped them on the road to success, narrowing it down to 10 basics for getting started.

Our e-commerce KPI checklist below provides an overview of what they are, why they’re important, and how to benchmark them properly to improve your performance and get you kicking goals!

E-Commerce KPI Checklist

Below, we reveal three of the top 10 e-commerce KPIs…can’t wait? Download the full checklist here.

KPI #1 – Time to Market (TTM)

• What is it?

The total amount of time it takes from the conception of your product or service until it’s ready for the
market.

• Benchmark Goal

Each product/service will have its own TTM, but aiming for shorter TTMs without a sacrifice in quality is the ultimate goal.

• Why is it important?

First-past-the-post generally gets the biggest market share, so knowing how quickly you can launch a new product or service and acting on it can give you a competitive advantage.

Source: Marc Sendra

KPI #5 – Customer Acquisition Costs (CAC)

• What is it?

How much it costs on average to acquire a new customer, including money spent on marketing, advertising, and sales staff.

• Benchmark Goal

Closely linked to your Customer Lifetime Value, your CAC should generally be less than your revenue to guarantee a steady profit margin.

• Why is it important?

Helps you track exactly how much you are spending to get new customers, and whether it’s actually paying off.

KPI #10 – Net Promoter Score (NPS)

• What is it?

A valuable customer loyalty metric, this score measures how likely a customer is to recommend your service or product to another.

• Benchmark Goal

Again, defining a good NPS really depends on the industry, but achieving a score above 50/100 is a pretty strong indication that you’re generating more supporters than detractors.

• Why is it important?

This metric not only gives you an indication of how satisfied your customers are, but also insight into the potential for organic growth through word-of-mouth referrals.

Want to discover the other top e-commerce KPIs?

You can download this handy PDF e-commerce KPI checklist below.

 

Download Checklist

 

Downloaded this checklist, learned it by heart, and excited to learn more? Check out our white paper on key growth strategies to help take your e-commerce business to the next level.