DIGITAL: EXCLUSIVE SERIALISATION percentage of these three KPIs.
GET YOUR E-COMMERCE SITE TO THE GYM Think of these KPIs as your website’s fitness level. When Mark first started going to the gym, even a small workout left him exhausted.
He dreaded it. He could not figure out how some people could spend hours on those machines and then do a full day’s work. But now he can go to the gym, do a workout and not have to lie down afterwards. This is an improvement.
Of course, now he can move onto other things, do more weights, do more cardio. Those activities are available to him.
So how fit is your website? Imagine marketing spend as exercise for your website.
How much ‘spend’ can it cope with before it needs to lie down?
For a human, fitness can be measured by KPIs such as VO2 max and speed. For a website, fitness is measured by add-to- basket rate, basket-to-order rate and the other KPIs we will introduce you to in this book.
If your website is not fit, it’s never going to compete in a marathon against the top competition. However, your revenue goals probably means it needs to. We were looking at two websites yesterday, both sites owned by the same client; one targets high end and the other the value market. The
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high-end website, we have got fit: the add to basket is now hitting 9 per cent having moved from 5 per cent, and it’s hitting its target nicely and scaling ad spend. But the value website, even though add to basket has moved from 3 per cent to 6 per cent, still needs work. It’s not
fit enough to scale. Luckily, there is still a lot of obvious stuff to fix, namely:
• The mobile site has the menu burger and the basket icons in the wrong places, meaning people can’t find them.
• The basket page is messy.
• There is little social proof on the website.
• The reviews are good but hidden away.
We feel like personal trainers, training a client to compete in a marathon. These KPIs are your website’s fitness level—if they are low they are never going to cope with the adspend you need to hit your revenue goals.
ADD-TO- BASKET RATE This is the unique add to baskets per session divided by the sessions. It all started here, and we just kept coming back to this metric. All the sites were doing poorly where this KPI was concerned. If the add-to-basket rate was low, then it didn’t matter about the checkout. It became our go-to metric for new sites, the place we would work on first. We would split test and implement to move this metric up. Sometimes a split test would move the revenue per visitor up but lower the add-to-basket
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metric, so we iterated until both metrics went up as this gave us more users to improve later in the funnel. This is easily measured in Google Analytics via Google Analytics Events or via tagging for Google Analytics Enhanced E-commerce.
BOING... BOING! Out of all the individuals landing on your website, some of them are going to bounce off. This can occur from any page on your site. Some may bounce off the home page, others may get to a category page or product page before making their exit. Some even put items in their basket and proceed to the checkout page before they decide to abandon ship. And then there’s the four percent who make it through checkout and place an order.
A good place to start improving your add-to-basket rate is to look at your bounce rate across content types. For example, how do product pages or category pages perform as a whole? By understanding this, you can easily monitor improvements made to the product templates.
Key performance indicator (KPI) number one is what we call the add-to- basket percentage, and it is definitely the most critical one. If no one is adding anything to their basket in the first place, there’s definitely a problem.
According to the statistics we work with, 11 per cent of visitors to your website should add something to their basket.
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