Whether you are a newcomer to e-commerce or a seasoned businessman, you can wonder what is value overall of your e-commerce business? There are different strategies when pricing an online business. None of which should be based on an arbitrary number. In this article, CMSmart will explain exactly data and tactics you can maximize the value of the website you are holding.
Enter your public data. If you want to improve the value of your e-commerce website, there are a few important indicators that you need to notice. When you understand each data and know steps to develop it. You will be able to set a goal and start work to improve the value of your e-commerce website.
1. Traffic to your website
Traffic is the first indicators that you should care to can improve the value of your e-commerce website. Your traffic is one of the most indicators when pricing your online assets. Because it will include detail information of demographics and learning and frequency of visitors.
- Use Google Analytics to track your visitors. Find to who is accessing into your website? and How to better response their needs?
- Make a campaign for sent email marketing for all previous customers. Transform them to loyal customers with all you are doing for them. It’s can promote sales and create repeat spending.
2. Average order value:
To calculate this data, you only calculate the average price of all your order. This data combined with visitor traffic and demographics will better understand the style of consumer that is your customer.
- Sales for the customer by showing the lower price related items that they can add into their order right before the payment.
- Provide benefits for a certain price. Example: free shipping with orders over 75 USD.
3. LTV customers:
LTV customers are the next indicator that affects create the value of your e-commerce website. Long-term value index tells you how much revenue you earn per customer on a long-term scale. This is where you really get to synthesize and evaluate if you have a long-term loyalty, which means customers are willing to buy from you not only once but continuously for a long time. You can calculate this for yourself by summarizing all customer purchases periodically over time and reporting the amount each customer has spent during their lifetime. “You can tell potential buyers that your product is listed in Google’s shopping feed.”
The above is the post with the content share to improve the value of your e-commerce website. What do you think about that? please feedback in here to we know your feelings. Thank you for watching my article, I hope you had been much helpful information through this post.
Sales Consultant Manager
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