How do you establish the right KPIs for your brand?
What are the basic ground rules for making sure your ecommerce metrics are relevant to your company’s situation and goals?
In its guide, Nielsen identified ten tips and insights for building a playbook that helps you create an e-commerce strategy—so you can catapult your brand in the right direction to capitalize on the growing e-commerce opportunity.
5 Tips for Effectively Measuring How Your Brand Performing Online:
- First, Derive your success metrics from your objectives and goals. Establishing the objective by sets up a series of questions for your brand team.
- The next step is to define the metrics you’re using. You should select KPIs that tie in directly with your stated goals and concentrate on a few essential metrics.
- You need to resolve how you’re actually going to take the measurements in question to realize multiple methodologies may be optimal for delivering your metrics.
- You need to be ready to consider new profitability models different from you’re used to.
- Use a metric that measures real ROI. The metric of total ROI is perhaps the only factor that’s going to enable manufacturers to try new business models and understand new methods of profitability.
What’s in the “Building Your ECommerce Measurement Playbook”:
- 10 Timely Tips for Effectively Measuring How Your Brand is Performing Online
- If You Can’t Measure It, You Can’t Improve It
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