With online and multichannel retail continually evolving, it’s not always clear which key performance indicators (KPIs) it is most important to influence in order to get the desired impact on your overall sales and profits. Our clients regularly ask us what conversion rate they should be aiming for, what their customer retention rate should be, and what return on investment different types of marketing should demonstrate.
We can work with your web and marketing teams to identify the KPIs they should be focusing on, and benchmarks for what good looks like in terms of the metrics they achieve. If you are struggling to hit some of these, we can audit the appropriate area of your business – whether it’s site, operational or marketing-related - and suggest quick wins as well as longer-term improvements to get your numbers where they need to be.
In fact, we’ve even run role-play sessions of how to run an effective web trading meeting. This helps our clients to understand how the monitoring and use of the right KPIs can give an online business a strong trading focus. In addition, we’ve helped clients to adopt dashboards and automated reports that make getting at and using numbers relating to many different aspects of their business as simple as possible.
Practicology is an independent ecommerce and multichannel consultancy with a global footprint. We are different from most consultancies for a number of reasons, but the most important one is… we’ve all done the job.
If you would you like to know more about this topic or Practicology, then please contact us.