What are your KPI’s and why did you choose them? 5

Key Performance Indicators diagram

Key Performance Indicators (KPI) are used by organisations to evaluate success and when you choose KPI’s you should follow the smart approach:

S pecific – a well defined goal that is clearly understood by everyone.
M easurable – can you track your progress towards the goal?
A greed – both employer and employee must agree on what the goals are.
R ealistic – can you achieve the goal with the resources provided?
T ime related – will there be enough time to complete the task?

Here are some examples of E Commerce KPI’s

Sales Key Performance Indicators:

  • Hourly, daily, weekly, monthly, quarterly, and annual sales
  • Average order size (sometimes called average market basket)
  • Average margin
  • Conversion rate
  • Shopping cart abandonment rate
  • New customer orders versus returning customer sales
  • Cost of goods sold
  • Total available market relative to a retailer’s share of market
  • Product affinity (which products are purchased together)
  • Product relationship (which products are viewed consecutively)
  • Inventory levels
  • Competitive pricing

Marketing Key Performance Indicators:

  • Site traffic
  • Unique visitors versus returning visitors
  • Time on site
  • Page views per visit
  • Traffic source
  • Day part monitoring (when site visitors come)
  • Newsletter subscribers
  • Texting subscribers
  • Chat sessions initiated
  • Facebook, Twitter, or Pinterest followers or fans
  • Pay-per-click traffic volume
  • Blog traffic
  • Number and quality of product reviews
  • Brand or display advertising click-through rates
  • Affiliate performance rates

Customer Service Key Performance Indicators:

  • Customer service email count
  • Customer service phone call count
  • Customer service chat count
  • Average resolution time
  • Concern classification

What do UK Businesses use?

  1. Tesco
  2. RBS
  3. BAE Systems
  4. Argos
  5. Centrica

What are your KPI’s and why did you choose them?

steve@bicknells.net