In order to be effective, those objectives should meet the SMART criteria which means they ought to be:
- specific – strictly defined and clearly stated
- measurable – supported by real indicators
- achievable – possible to carry out
- realistic – based on facts
- time-bound – with a deadline set.
Therefore, if you want to measure your success effectively, you need to choose the indicators to help you assess progress and identify the results of marketing campaigns. Of course, the priorities vary among different kinds of stores, which is why each entrepreneur focuses on different factors. For instance, those who consider websites’ popularity essential will aim at increasing its number of visits and unique users by 50%. On the other hand, the traders for whom professional customer service counts most will pay special attention to responsiveness and the number of problems solved.
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However, there are certain indicators crucial for all the businessmen. Below you will find those factors divided into three main categories: sales, marketing and customer service.
The most common indicators are daily/weekly/monthly/annual sales indexes. Since various stores sell with different frequency, the indicator should be adequate to the results.
Other indicators commonly used to measure sales are: the quantity of products sold, conversion index and percentage of returning customers. A lot of attention is also given to prices and comparisons with competitors offer.
It is worth considering the traffic on the site – the number of its unique users and their visits – while measuring whether our promotion is efficient. Checking the average time the customers spend on stie and the source of traffic (how they came across the site) would also be advisable. You can get access to such data for free. All you have to do is add the Google Analytics code to your store on Shoplo (General Settings → Analytics Code).
Another helpful way to measure your effectiveness is to examine statistics indirectly linked to your site such as the number of Facebook fans, followers on Twitter and newsletter subscribers.
Since whether customers return to a store depends on its quality, do not forget about customer service while setting yourself goals. What this category includes are mainly: the number of e-mails and calls received/answered, average time of solving problems and responsiveness.
As the article shows, there is a great deal of performance indicators which may help you measure your effectiveness on Shoplo. Remember that in order to be successful, you need to monitor your progress constantly. At first, pick three factors which you find most important and assess your actions according to them. Systematic results measurement will show you what mistakes to avoid, as well as indicate which ideas are effective or worth developing. Consequently, you will be more aware of the most efficient solutions and able to restrict unnecessary expenditure.