<img alt="" src="https://secure.leadforensics.com/150446.png " style="display:none;">

Blogs

Technology news around the world - Week 42, 2018

Tech digest e-Zest
10 trends will impact the future of Digital Commerce


Innovations in customer experience, business models and technology will transform digital commerce in the next few years. Read these 10 hot trends that will impact the future of digital commerce.

Read more: https://hubs.ly/H0fbHnV0

Topics: Cloud Enterprise Mobility Big data Digital Commerce

Ready-to-use steps to analyze the KPIs with Google Analytics data

If you run an online business, you need to continuously evaluate its performance to understand whether you are progressing in line with the revenue goal. Speaking about e-commerce, with such a wide range of indicators, it is easy to get lost and let the core business metrics out of your sight.

This post is to provide you with the ready-to-use steps to calculate the most strategic KPIs with the help of Google Analytics data.

Cost of customer acquisition

This KPI shows the cost to acquire one customer (how much you invested in online marketing). To calculate it, divide total marketing campaign costs by the number of customers acquired. To get actionable insights, evaluate traffic channels and online campaigns separately. Here’s how:

САС = МСС ÷ СА

CAC Cost of customer acquisition
MCC Total marketing campaign costs related to acquisition (not retention)
CA Total customers acquired

To get the number of customers acquired, set up a goal that will represent a purchase on your site. Then go to the reports on the marketing campaign or channel results and check the conversions block.

az
Conversion of a channel/campaign

This KPI shows the percentage of visits your site has and been transformed into potentials leads. To estimate the total Conversion Rate, a total number of conversions are divided by the total number of visits.

What kind of indicators should be treated as conversions depends on your goals. You may set up various e-commerce goals and track their Conversion Rate separately.

Conversion Rate is often used to measure landing page effectiveness, as it indicates which page has the best content and potential to provide the most optimal user experience.

az1
Shopping cart abandonment rate

This KPI shows the percentage of activity and non-purchasing by the user. The metric is calculated by dividing the number of orders placed by the number of shopping carts created. In simple terms which means the number of user visits during which a user has added an item to the shopping cart, but hasn’t reached the check-out point.

Unlike a brick-and-mortar store, in online retail this metric is essential. In Google Analytics this metric is easy to arrive at and visualize with several goals setup too. Firstly, create at least two goals in Google Analytics:

  • One which tracks the number of time users completed the add to cart action
  • One which shows the check-out success or thank you page viewed by the user

az2

Average order value

This KPI is easy and a well-known metric, which can be known by calculating the revenue received from sales divided by the number of orders taken.

az3
The list by far is not exhaustive. However, these four key metrics could be a good starting point
Let me note, that for tightening together web traffic and financial goals, e-commerce tracking and goals set up are must-haves in your Google Analytics account. How to set up goals and e-commerce tracking you can read here and here.

Topics: Google Analytics eCommerce KPI Magento Digital Commerce

Why e-commerce KPI should be outward driven and not inward?

To identify the metrics that help your online business grow is the key to improve your business and marketing decisions. Measuring those KPIs (Key Performance Indicators) can track your progress and help you reassure you are proceeding in the right direction. This is the reason why most successful e-commerce businesses are metrics obsessed and they regularly monitor the website. These metrics must be outward bound and not inward bound. By saying outward bound i mean being customer-centric that are decided by factors outside your organization and not inside your organization.
Topics: eCommerce KPI eCommerce Digital Commerce

Digital Commerce in Healthcare

digital-commerce-for-healthcare
Successful digitization of consumer goods sale has brought in new avenues in healthcare e-commerce space which has been rather a closed market space and heavily dependent on healthcare service provider. Now healthcare market dynamics are changing rapidly and drifting from provider to patient, especially after recent healthcare reforms mandating improvement in the quality of care and reduction in cost.
Topics: Digital Commerce healthcare eCommerce

e-Zest Mentioned in Gartner Digital Commerce Vendor Guide 2018

e-Zest Mentioned in Gartner Digital Commerce Vendor Guide 2018
e-Zest Solutions, a leading digital innovation and technology services company specializing in Digital Transformation, announced that it has been recognized as a Digital Commerce Service Provider in the Gartner Digital Commerce Vendor Guide 2018.

Topics: Gartner Digital Commerce Digital Commerce Vendor

e-Zest is a leading digital innovation partner for enterprises and technology companies that utilizes emerging technologies for creating engaging customers experiences. Being a customer-focused and technology-driven company, it always helps clients in crafting holistic business value for their software development efforts. It offers software development and consulting services for cloud computing, enterprise mobility, big data and analytics, user experience and digital commerce.