Smart retargeting allows you to engage directly with interested consumers through thoughtful, individualize marketing pieces. We've talked about the benefits of adding offline retargeting to your retargeting campaigns. Here are the E-commerce marketing metrics you must-know to build a successful strategy.
Learn why E-commerce marketers must rethink the consumer experience and their role in delivering effective marketing at every touchpoint.
Consumers spent an estimated $394.9 billion in total E-commerce sales in 2016, an increase of 15% from 2015, accounting for 8% of all sales. ¹ At the same time, 81% of consumers do online research before making a big purchase. ²
Smart retargeting allows you to engage actively researching consumers with thoughtful, individualized marketing pieces. Here are the 10 marketing metrics you need to know to build a successful retargeting campaign.
Retargeting Metrics That Matter
- Customer Return (Returning Customers) Rate
- Returning visitor transactions comprised 48% of all U.S. e-commerce sessions in the fourth quarter of 2015 and accounted for $2.7 billion, almost double what new shoppers spent in that time period.³
- Conversion Rate
- The average conversion rate in E-commerce is 1%. If you’re operating at a 4% conversion rate or higher, you’re among the industry top performers.⁴
- Abandon Cart Rate
- 72% of females and 59% of males have decided to abandon their purchase because of shipping costs.⁵ Retarget with a free shipping offer email or a postcard for an in-store discount.
- Unique visitors vs returning visitors
- Returning visitors add items to cart 15% of the time. New visitors add items to cart only 8% of the time.⁶
- Page Views
- Knowing which pages a consumer viewed helps individualize the retargeting message. But keep in mind that consumers behave differently on devices. Consumers on desktops view on average 14% of sites pages, while on viewing 8% only mobile.⁷
- Time Spent on Page
- Tracking the duration of a visitor's session alongside the bounce rate allows you to gauge their interest in a product and your site. The average time a consumer spends on a page varies by device.⁷
- Refund and return rate
- According to research by Invesp, at least 30% of all products ordered online are returned compared to only 9% bought in brick-and-mortar shops.⁸
- Email Open Rate
- The average open rate in B2C retail is 25%.⁹ If your email open rates to subscribers are below average, retargeting with direct mail postcards could be more effective.
- Email Clickthrough Rate
- Like open rates, it's important to measure clickthrough rates to see if your emails are engaging your consumers. For B2C retailers, the average clickthrough rate on emails is 6%.⁹
- Email Unsubscribe Rate
- The mean unsubscribe rate for B2C retail is .6%.⁹ Retargeting your email unsubscribe list with valuable direct mail postcards can be highly effective in re-engaging your audience.