CRITICAL B2B eCommerce KPIs - Beginner to Expert Guide
Are you looking for the most important B2B eCommerce KPIs?
Well, you’ve come to the right place because that’s exactly what I’ll be going over in this post.
It doesn’t matter if you’re an eCommerce warehouse, SAS company or marketing company. If you’re in B2B, all of these Key Performance Indicators will apply to you.
1. Revenue and conversion rate
You need to know how much money you’re making and how visitors are converting.
If you’re getting 100,000 visitors a month and only 1,000 people are buying, that’s a conversion rate of 1%.
How can you increase the conversion rate?
This could be by testing the button colours, the button placement, adjusting the copy and landing page.
You can use a tool called Hot Jar to test these things.
B2B ecommerce marketing strategies.
2. Average order value
If you’re getting an average order value of £15 and want to increase that, you will need to start promoting items with a higher price tag.
Sure, you can sell more of your £15 items but the issue with this is the logistics. You’re going to have to do a lot more deliveries or if you have a digital product, your customer support may be getting a lot of messages. Overwhelming that part of the company.
You can off-set this by promoting your more expensive products. You don’t have to worry about your customer support or logistics department getting overwhelmed.
You can make more money while still maintaining the same number of staff and even customers.
3. Product revenue and quantity
You need to understand how much a particular product is making you and how much of it is being sold.
This will allow you to see what your most popular products are. See what products are performing well and products not performing well.
From this, you can make the decision of promoting a product even more because you know it converts well or just discontinue a product.
4. Number of customers contacting support
How many people are contacting your support? What are the problems? Are these common problems?
If the problems are with the product or service, you need to improve them. Whether that’s with the quality of the item and the manufacturing process needs to be improved. If it’s with a new feature which needs to be implemented or an update on a piece of software.
Are the instructions not clear and common questions are being asked? Include an F.A.Q section on the product page.
5. Transaction source/medium
What’s your most profitable buyer source? Is it Google, Facebook ads, Google ads? Is all of your traffic coming from one source? If so, it’s best to diversify so you’re not at the mercy of one platform.
Is one platform converting better than another? Then it’s best to focus the majority of your resources on the platform which is converting best.
6. Top cities/towns
Where are people buying from? What are the most popular places? Finding out this information will help you understand your buyers. You’ll be able to adjust your copy to a particular location.
If you’re thinking about setting up a new base, you probably want to do it in the town/city you’re selling the most in.
7. Gender
It’s worth knowing the gender of your buyers. If you’re selling clothing, the majority of your buyers may be women. That’s not a guarantee of course but it’s worth checking out the data.
With this data you can adjust your copy to better suit your target audience.
8. Average click through rate
Now moving on to the SEO aspect… if you’ve never heard of SEO, it stands for Search Engine Optimisation. It’s the act of ranking keywords on search engines. For example, let’s say you sell drainage pipe pumps, you would want to show up on the Google search results for “drainage pipe pumps”.
Seeing what the click through rate is for different pages and keywords is incredibly important. It shows where you’re ranking in the search results and how many people are clicking through.
If your click through rate is 0.5%, it’s in your best interest to increase that number every month.
A healthy search optimised website will typically have a click through rate of 4%.
9. Average position
You need to understand what your average ranking position is on Google, the most popular search engine in the world.
If you’ve got an average search ranking position of 54, your aim would be to decrease that number every month.
16 is an average position you should aim for since this is what a healthy, search engine optimised website looks like.
10. Top clicked queries
You need to understand what your top queries/keywords are. Knowing these will help you further optimise your pages for those search terms and long tail versions.
Understanding what your top clicked on queries are will help you understand what content you should be creating.
11. Top impressions for pages and queries
Top impressions pages and queries are pages and queries that are getting viewed on the search engines but not necessarily getting clicked.
It’s important to understand what gets the top impressions because there’s a lot of opportunity there. For example, let’s say a query is getting 50 clicks per month but 7,000 impressions. It would be worth trying to boost the click through rate for that query.
12. Order processing time
We live in a world where everyone wants everything NOW. Right now! So you should be tracking how long it takes to process an order. What’s the average order processing time and how can you improve it?
By fixing the bottlenecks, the delivery time will be shorter, leading to more satisfied customers and repeat buyers.
13. Transactions per user
How many users buy from the website? If you’re getting 0.01% of transactions per user, how can you increase this? Is it by targeting more buyer intent keywords? Is it by improving the landing pages?
You’ll need to engage in conversion rate optimisation to improve the transactions per user KPI.