Last year will live in infamy, but for retailers the one silver lining to that smoke and disease-filled cloud was the unprecedented growth in eCommerce. Now with most staff back from various breaks and many even returning to the office, it’s an opportunity to reflect on your metrics and KPIs from 2020 and to consider how to make this year’s online successes even greater.
There are four key areas that are important to include in your review, with the aim of identifying potential problems and opportunities.
Your website needs to be available and fast. When your down, your losing business. Looking at an uptime/downtime report for the year, see when the downtime occurred. If it was during peak selling seasons, you may need to consider scaling up your infrastructure or signing a more robust service-level agreement with your provider.
Slow page load times can be just as damaging, leading to higher bounce rates, cart abandonment, and may even hurt your Google search engine rankings. If there are no obvious problems with your average page load times or transaction processing speed, The Playhouse Group can assist with running a series of other diagnostic tests to help ensure your infrastructure is ready.
We have never been shy of saying that customer experience needs to be at the centre of eCommerce, such as when we discussed customer journeys last month. Expectations are rising, and if you want to have an advantage over your competitors, your site should be personalised, organised, relevant, and painless.
In the last twelve months:
- How often did your site refresh content?
- Were the content and search recommendations personalised?
- How easy was the checkout process and order tracking?
- Did you offer live chat?
Improve in these areas, and you’ll improve your customers’ experiences.
Traffic and Conversions
Analysing and comparing sources of traffic and their conversion rates helps you identify where your big successes and failures occurred. For example, if your mobile conversion rates were relatively low despite consistently high mobile traffic, you may need to think about redesigning your mobile experience.
When looking at traffic and conversions, consider both overall figures as well as performance during peak periods. It will also be helpful to compare those figures with 2019 to see if there are trends.
You will want to consider:
- What traffic sources converted most and least, and when?
- Which landing pages converted most and least, and when?
- Which promotions converted most and least, and when?
- Which products converted most and least, and when?
Performing well during peak seasons, such as Cyber Weekend and the lead up to Christmas, is crucial, and will be part of the infrastructure performance review conducted as the first step in this recommendation.
When specifically looking at peak seasons, the first step is to clarify when these are for your business. Which days had exceptionally high traffic and sales? Due to them representing a large portion of overall revenue, they deserve extra scrutiny to determine which strategies worked, and which didn’t. This will guide your 2021 strategy.
Use this analysis to predict 2021 traffic and order volumes, so that you can prepare your site properly for them. This could be through increasing server and/or database capacity, or utilising a content delivery network.
But don’t stop at just analysing technical capabilities, consider the impacts of differing customer experiences, marketing and sales strategies, and the traffic sources and conversion rates discussed above. This will help you identify KPIs to focus on this year.
Don’t let your business fall into the trap of charging into new goals, budgets and plans for 2021, and postponing your review until it’s too late to inform this year’s strategy.
If you’d like help conducting a review of your 2020 website performance, or for any other eCommerce related questions, please don’t hesitate to click the button below to set up an obligation free consultation with The Playhouse Group.
With decades of experience and as a certified Magento partner, The Playhouse Group can help your business maximise its online sales capabilities. Get in touch with our team and we can talk to you about this or any other other eCommerce questions you may have.