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?

Having chosen your KPI’s this clip shows you how to create a dashboard in Excel

steve@bicknells.net