How to Track Your eCommerce Store Performance With ChargeAfter Consumer Financing and More
Marketing metrics are a cornerstone of online success. When it comes to digital retail, business owners and their marketing teams need to be clued up on the right metrics to measure success and how to track store performance against valuable data. Now more than ever, online retail stores need to underpin every action with metric analysis in order to discover what works and what doesn’t. This is especially important as metrics provide insight into consumer behavior, the driving force behind successful online retail. In this article, we discuss how you can track your eCommerce store performance with ChargeAfter consumer financing and foolproof metrics.
Consumer Financing Tracking With ChargeAfter
Before delving into the most common metrics to track store performance, let’s look at a newer and more powerful tool to analyze your success. ChargeAfter is a leading provider of consumer financing solutions that enable businesses to attract modern consumers and encourage sales. The platform provides shoppers with on-demand financing that requires no credit checks and does not come with costly monthly interest installments. The benefit of integrating ChargeAfter’s novel consumer financing solution speaks for itself. But, how does partnering with ChargeAfter help businesses track store performance? Well, ChargeAfter provides full reporting of consumer activity at checkout to ensure that the process is seamless and successful. ChargeAfter’s team of dedicated analysts provides comprehensive feedback regarding the utilization of the consumer financing plug-in as well as how your checkout pages are performing. With this data and recommendations, eCommerce store owners can make informed executive decisions regarding their online platforms and functionality.
The combination of ChargeAfter’s support and tracking of the below-mentioned metrics can help your online platform cut through the clutter and ensure profitable growth.
Product Discovery Metrics
Online platforms need to assess their product discovery metrics including impressions, reach, and engagements. Utilizing paid media on socials or Google, online stores can serve their content to their audience and see these metrics results improve. Impressions provide an indication of how many people are viewing your content, reach refers to the number of consumers currently aware of and interested in your brand, and engagement shows how many of those consumers are interacting with your brand. Tracking these three metrics will give you an idea of your brand authority in the eyes of your target market.
Acquisition metrics refer to trackable data on shoppers that are actually browsing your online platform to buy. Marketing teams should consider the email click-through rate and cost per acquisition first and foremost. These two metrics give online stores an idea of how appealing their content is and whether or not it is leading to valuable consumer action. A higher email click-through rate and lower cost per acquisition indicate that the online store’s digital marketing activities are efficient and cost-effective.
Conversion metrics are some of the most important as they help online stores track the actual sales of products on their online stores. Marketing teams should note changes in cart abandonment rates, average order values, and sales conversion rates. These metrics showcase how many shoppers are making profitable buying decisions and help teams determine why others may choose to leave a shop and buy elsewhere. Conversion metrics are critical to eCommerce success, and businesses that integrate ChargeAfter’s consumer financing enable better results because of the many benefits of BNPL solutions.
Business owners and their marketing teams can track eCommerce store performance through analysis of key consumer metrics including product discovery, acquisition, and conversion metrics. Through an assessment of these metrics and full reporting support from ChargeAfter’s consumer financing team, eCommerce companies can improve their online shopping experiences and land more sales.