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How do you measure the effect / what are the KPIs for good product descriptions in e-commerce?
The major KPI, in my opinion, is the conversion rate for that given product, after all, that is what you want. You don't want people to just read or spend more or less time reading that piece of text. You want them to read AND buy.
It is a good idea to have a conversion funnel for the products you want to measure the effectiveness of your changes (you can easily do that with Google Analytics segments), since you can compare them. You can even find products that are converting well and not well and learn from them.
The conversion funnel could look somewhat like that: Home page -> specific product -> added to cart -> bought. Off course, adapting to your reality.
I agree with Adriano, Ultimately the best KPI for product descriptions, is Sales! Simple as that.
And the only way yo truly measure the effects is conversion rates. If your product descriptions are strong enough to draw traffic, they will still be pretty weak if they don't result in sales.
Measuring and monitoring business performance is critical, but focusing on the wrong key performance indicators can be detrimental. So can be poorly structured KPIs, or KPIs that are too difficult, costly to obtain, or to monitor on a regular basis.
For e-commerce I used this:
- Conversion Rate: The conversion rate tells how effective is your store at closing deals.
The basic calculation is: (Number of Sales) / (Number of Visits) = Conversion Rate
- Bounce Rate: Bounce Rate is a percentage of visitors who leave your site immediately, probably because they didn’t find what they were looking or the website was too complicated/annoying to use.
The basic calculation is: (Number of visitors who leave immediately) / (Total number of visitors) = Bounce Rate
- Shopping Cart Abandonment Rate: According to a Baymard Institute, the average shopping cart abandonment rate is 68%.
The basic calculation is: (#of people who don’t complete checkout) / (# of people who start checkout) = Shopping Cart Abandonment Rate
- Cost per Acquisition: Cost per Acquisition is a critical marketing metric. It can tell you which campaigns can drive your sales and which will become a costly pile.
The basic calculation is: (Total Cost of Marketing Activities) / (# of Conversions) = Cost per Acquisition
I hope this help's you.
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