Since Demac Media has been running on Traction / EOS, reviewing our key metrics on a dashboard at our weekly meetings has become so ingrained in our operations that I take for granted the time and effort invested to build this habit.
Each team in our company has their own weekly dashboards that they review in their weekly L10s (Level 10 meeting). This process creates a massive amount of alignment in a company.
Since I’m such a fan, I decided to take a crack at the 10 metrics I would love to see at a weekly L10 inside of any retail and/or eCommerce business.
Setting Up your eCommerce Dashboard
The following metrics should be on a dashboard and should be comparing week vs. same week the year before. Depending on the style of business and the growth trajectory, it might be more valuable to compare metrics to the previous week to better see trends over a shorter time period.
As I mentioned above, we run on Traction / EOS and thus follow a strict quarter-out planning cadence for setting quarterly objectives. We then use our weekly meetings to discuss our dashboard, and any issues or tasks that need doing for the week coming.
Note: that these are the 10 I’ve picked as the most common across a lot of different businesses. This list can vary dramatically based on the vertical of the business and how each business sets objectives.
The Top 10 Metrics eCommerce Businesses Should Track Weekly
- Site-Wide Conversion Rate
- # of Customer Reviews
- Net-Subscribers Added – This is subscribers added vs. Subscribers lost.
- Sales per Subscriber
- Unique Visitors
- New Customer Sales
- Repeat Customer Sales
- Return Rate – % of orders returned
- Time to Ship – The time between an order being placed and it being shipped out.
- Customer Support Requests Created
Other Potential eCommerce KPIs
You can read my big list of eCommerce metrics here. If you don’t want to click around and do more reading, here are some other metrics that you might want to consider for your eCommerce dashboard:
- Total Ad Spend
- Email Click Through Rate
- ChargeBack Value – A good one if you are going to prioritize reduction of fraud. Happens to the best of us at one point or another.
- Cost Per Acquisition (lead) – What’s it costing you to acquire a single lead