Every blogger, digital marketer, or business owner has a story about getting affected by 404 page error.(Page Not Found).It causes a sudden drop in your search rankings, and traffic as well. Moreover your audience will face a bad experience for the same. With proud we can say that our student Amit Kumar had explained the same that how one can resolve this issue with ease. We hope it will surely help you a lot.
Sales key performance indicators are measures that tell you how your business is doing in terms of conversions and revenue. You can look at sales KPIs related to a specific channel, time period, team, employee, etc. to inform business decisions.
Examples of key performance indicators for sales include:
· Sales: Ecommerce retailers can monitor total sales by the hour, day, week, month, quarter, or year.
· Average order size: Sometimes called average market basket, the average order size tells you how much a customer typically spends on a single order.
· Gross profit: Calculate this KPI by subtracting the total cost of goods sold from total sales.
· Average margin: Average margin, or average profit margin, is a percentage that represents your profit margin over a period of time.
· Number of transactions: This is the total number of transactions. Use this KPI in conjunction with average order size or total number of site visitors for deeper insights.
· Conversion rate: The conversion rate, also a percentage, is the rate at which users on your ecommerce site are converting (or buying). This is calculated by dividing the total number of visitors (to a site, page, category, or selection of pages) by the total number of conversions.
· Shopping cart abandonment rate: The shopping cart abandonment rate tells you how many users are adding products to their shopping cart but not checking out. The lower this number, the better. If your cart abandonment rate is high, there may be too much friction in the checkout process.
· New customer orders vs. returning customer orders: This metric shows a comparison between new and repeat customers. Many business owners focus only on customer acquisition, but customer retention can also drive loyalty, word of mouth marketing, and higher order values.
· Cost of goods sold (COGS): COGS tells you how much you’re spending to sell a product. This includes manufacturing, employee wages, and overhead costs.
· Total available market relative to a retailer’s share of market: Tracking this KPI will tell you how much your business is growing compared to others within your industry.
· Product affinity: This KPI tells you which products are purchased together. This can and should inform cross-promotion strategies.
· Product relationship: This is which products are viewed consecutively. Again, use this KPI to formulate effective cross-selling tactics.
· Inventory levels: This KPI could tell you how much stock is on hand, how long product is sitting, how quickly product is selling, etc.
· Competitive pricing: It’s important to gauge your success and growth against yourself and against your competitors. Monitor your competitors’ pricing strategies and compare them to your own.
· Customer lifetime value (CLV): The CLV tells you how much a customer is worth to your business over the course of their relationship with your brand. You want to increase this number over time through strengthening relationships and focusing on customer loyalty.
· Revenue per visitor (RPV): RPV gives you an average of how much a person spends during a single visit to your site. If this KPI is low, you can view website analytics to see how you can drive more online sales.
· Churn rate: For an online retailer, the churn rate tells you how quickly customers are leaving your brand or canceling/failing to renew a subscription with your brand.
· Customer acquisition cost (CAC): CAC tells you how much your company spends on acquiring a new customer. This is measured by looking at your marketing spend and how it breaks down per individual customer.
Key performance indicators for marketing tell you how well you’re doing in relation to your marketing and advertising goals. These also impact your sales KPIs. Marketers use KPIs to understand which products are selling, who’s buying them, how they’re buying them, and why they’re buying them. This can help you market more strategically in the future and inform product development.
Examples of key performance indicators for marketing include:
· Site traffic: Site traffic refers to the total number of visits to your ecommerce site. More site traffic means more users are hitting your store.
· New visitors vs. returning visitors: New site visitors are first-time visitors to your site. Returning visitors, on the other hand, have been to your site before. While looking at this metric alone won’t reveal much, it can help ecommerce retailers gauge success of digital marketing campaigns. If you’re running a retargeted ad, for example, returning visitors should be higher.
· Time on site: This KPI tells you how much time visitors are spending on your website. Generally, more time spent means they’ve had deeper engagements with your brand. Usually, you’ll want to see more time spent on blog content and landing pages and less time spent through the checkout process.
· Bounce rate: The bounce rate tells you how many users exit your site after viewing only one page. If this number is high, you’ll want to investigate why visitors are leaving your site instead of exploring.
· Pageviews per visit: Pageviews per visit refers to the average number of pages a user will view on your site during each visit. Again, more pages usually means more engagement. However, if it’s taking users too many clicks to find the products they’re looking for, you want to revisit your site design.
· Average session duration: The average amount of time a person spends on your site during a single visit is called the average session duration.
· Traffic source: The traffic source KPI tells you where visitors are coming from or how they found your site. This will provide information about which channels are driving the most traffic, such as: organic search, paid ads, or social media.
· Mobile site traffic: Monitor the total number of users who use mobile devices to access your store and make sure your site is optimized for mobile.
· Day part monitoring: Looking at when site visitors come can tell you which are peak traffic times.
· Newsletter subscribers: The number of newsletter subscribers refers to how many users have opted into your email marketing list. If you have more subscribers, you can reach more consumers. However, you’ll also want to look at related data, such as the demographics of your newsletter subscribers, to make sure you’re reaching your target audience.
· Texting subscribers: Newer to digital marketing than email, ecommerce brands can reach consumers through SMS-based marketing. Texting subscribers refers to the number of customers on your text message contact list. To get started with your own text-based marketing, browse these SMS Shopify apps.
· Subscriber growth rate: This tells you how quickly your subscriber list is growing. Pairing this KPI with the total number of subscribers will give you good insight into this channel.
· Email open rate: This KPI tells you the percentage of subscribers that open your email. If you have a low email open rate, you could test new subject lines, or try cleaning your list for inactive or irrelevant subscribers.
· Email click-through rate (CTR): While the open rate tells you the percentage of subscribers who open the email, the click-through rate tells you the percentage of those who actually clicked on a link after opening. This is arguably more important than the open rate because without clicks, you won’t drive any traffic to your site.
· Unsubscribes: You can look at both the total number and the rate of unsubscriptions for your email list.
· Chat sessions initiated: If you have live chat functionality on your ecommerce store, the number of chat sessions initiated tells you how many users engaged with the tool to speak to a virtual aide.
· Social followers and fans: Whether you’re on Facebook, Instagram, Twitter, Pinterest, or Snapchat (or a combination of a few), the number of followers or fans you have is a useful KPI to gauge customer loyalty and brand awareness. Many of those social media networks also have tools that ecommerce businesses can use to learn more about their social followers.
· Social media engagement: Social media engagement tells you how actively your followers and fans are interacting with your brand on social media.
· Clicks: The total number of clicks a link gets. You could measure this KPI almost anywhere: on your website, social media, email, display ads, PPC, etc.
· Average CTR: The average click-through rate tells you the percentage of users on a page (or asset) who click on a link.
· Average position: The average position KPI tells you about your site’s search engine optimization (SEO) and paid search performance. This demonstrates where you are on search engine results pages. Most online retailers have the goal of being number one for their targeted keywords.
· Pay-per-click (PPC) traffic volume: If you’re running PPC campaigns, this tells you how much traffic you’re successfully driving to your site.
· Blog traffic: You can find this KPI by simply creating a filtered view in your analytics tool. It’s also helpful to compare blog traffic to overall site traffic.
· Number and quality of product reviews: Product reviews are great for a number of reasons: They provide social proof, they can help with SEO, and they give you valuable feedback for your business. The quantity and content of product reviews are important KPIs to track for your ecommerce business.
· Banner or display advertising CTRs: The CTRs for your banner and display ads will tell you the percentage of viewers who have clicked on the ad. This KPI will give you insight into your copy, imagery, and offer performance.
· Affiliate performance rates: If you engage in affiliate marketing, this KPI will help you understand which channels are most successful.
As the saying goes :
“When I dare to be powerful, to use my strength in the service of my vision, then it becomes less and less important whether I am afraid.” – Audre Lorde
Needless to say that woman are giving their immense contribution in the business sphere as well. So, let’s know about the 5 Indian female entrepreneur who had changed the game of Indian startups and businesses as well.
VLCC, a beauty and wellness giant has it’s presence in 11 countries across Asia, Africa and the GCC (Gulf Cooperation Council) and the credit goes to Vandana Luthra. Initially, a homemaker, Vandana started her journey in 1989 when the first of her two daughters was only 3 years-old.
She is currently the MD & CEO of india’s largest private bank ICICI Bank.
Limeroad was started in 2012 by Suchi along with Manish Saksena, Ankush Mehra and Prashant Malik. The company has raised a funding of $20 Million from Lightspeed venture partners, Matrix partners and Tiger Global.
Richa is the founder of online lingerie store Zivame , she grew up in Jamshedpur and completed her engineering from BITS Pilani (2002) and after having worked briefly in the IT industry she acquired Masters’ degree from Narsee Monji Institute of Management Studies in 2007, and worked with a retailer and global technology company before starting Zivame.com.
If you have enjoyed reading this article kindly share your views in the comment segment and kindly share this to your social media to inspire the people.
As Russ Ramsay, Struck : One Christian’s Reflections On Encountering Death Once Said – “With all due respect to my surgeon, in a perfect world he would be out of a job.” (Reference)
Needless to say that the same holds equally good enough for our country’s honourable Prime Minister Shri Narendra Damodardas Modi. He is giving his all blood and sweat to the endeavors which can bring betterment in our country. So let’s know some noteworthy points to decide whether the “Demonetization” was good or not for our country.
As per the OMICS GROUP’s article : Surgery is an ancient medical specialty that uses operative manual and instrumental techniques on a patient to investigate and/or treat a pathological condition such as disease or injury, to help improve bodily function or appearance or to repair unwanted ruptured areas. ( Reference : Article On Surgery )
So if one can consider the corruption, use of fake currencies/notes, violence in Kashmir, and lower economic growth as diseases or injuries of our country. Then demonetization is certainly like a surgery done by Shri Narendra Modi for the same. Now you will get some real facts to justify the same.
The social environment of Kashmir got better due to lack in violence because of inadequate availability of cash after the demonetization.
2. People aren’t able to buy the GOLD items with their undisclosed money (Black Money) due to compulsion to disclose PAN details post demonetization.
3. Demonetization downturned the real estate business which caused in the much lowered prices than before.
4. Demonetization has boosted the startup culture.
5. Rise in Indian GDP (Gross Domestic Product).
So we can definitely conclude that this endeavor by our honourable prime minister Shri Narendra Modi is like a surgery of Indian economy to give a better life and social conditions to every people of India.
Thanks for reading this article and also for giving your priceless time. If you want to share or express something, you can comment below for the same. Let’s have a healthy discussion.
Demonetization is a process through which the Government or ruling party cancelling the legal tender status of a currency unit in circulation. After this act the currency does not have any value of it. The people could not make any transaction of buying or selling through it, the depositing of such currency has become illegal after it.
After demonetization the government fix a time period of changing old currency to new currency from the bank in the given time period. The demonetization of currency did not happen first time in India. In 1946 the Government has pulled out 500 or 1000 rupees note in circulation first time. The second time in 1977 the leadership of morarji desai (Janta party).
The recent demonetization step taken by the government is one of the most bold and sudden steps that is bound to impact every Indian and every sector of the economy. While the majority of the people have welcomed this bold step by the government except there are few opposition parties. We all know that Indian economy had been running on “cash”. With the announcement of demonetization, the government has seized up lakhs of crores of old currency notes of Rs 500 and Rs 1000 from the country and is still counting.
Why demonetization is necessary?
There is lots of reason for withdrawn of money which is in circulation similarly big amount of note like 500 and 1000 rupees note. A major achievement of demonetization has been that it has helped the government in tracking black money. The big part of black money was being used for funding terrorism, gambling, in inflating the price of major assets classes like real estate, gold.The government will get a good amount of tax revenue which can be used by it towards the betterment of society by providing good infrastructure, hospitals, educational institutions, roads and many facilities for poor and needy sections of society.
Impact in real estate
The impact of money demonetization on real estate is much higher as compared to any other sector as in the involvement of black money and cash transaction in this sector is much more.
It was a difficult move however it has greatly contributed in the standardization of the pricing in the sector. There is so much transparency now. From a developer standpoint it has immensely helped us in sourcing funding from the banks and we are assured that the source of our funding is genuine. Many people out there believe that demonetization had an adverse effect on sales, but that’s not true. It was the negative sentiment that the property costs will go down and that’s exactly what the people kept waiting for instead of investing. Beyond this it has also helped in creating a cleaner image for Real Estate.
The demonetization speculation around real estate has moved on to RERA regulation and the effects are substantial. As real estate sector reflects realism after the initial turbulence of demonetization, it is serving as a great opportunity for investors and will benefit the overall economy.
Positive impact in real estate industry
The demonetize helps very much in real estate industry. It enhance the chance of buying property by utilizing the money in the better way. The cost of real estate company becomes down price as well as taxes no one will buy property in wrong way.
Every property become white and no real estate builder bluff the buyers. The buyers feeling safe and buy property in quite better way.
Benefits of Demonetization
- Reduce rate in home loans interest
RBI has declared rebate in home loan interest rate due to large amount of cash deposit in bank as effect of demonetization. It leads to small scale industrial sector by compelling these sectors to deposit their savings in banks.
Demonetization has started cashless economy. Card transactions are not only beneficial for customers in terms of ease of use and time saving but are also transparent in nature. Feel hassle free and same to carry large amount of cash.
3.Restoring the stalled projects
Projects that were stopped from long time is taking speed now due to demonetization. It is good time to invest in Real Estate.
Marketing is a heart of Business
We cannot think about business in the absence of marketing, Healthier marketing strategy is a guaranty of business success. It is very much true that we cannot reach to our desire goal in the business without marketing, good marketing tips and strategy is a key of getting business successful. It also helps to know about customer behavior and their needs, So that we can transform our product & services according to them to make more sales. We’ve selected what we believe to be the five key benefits marketing brings to your business and how it has the power to help you build the business empire you desire.
Helps in Brand building :- Good marketing help you to put your product & services at the front of every customer’s mind and make you the first option to turn when in need of a specific product search.
Sales Boosting :- Once you have become visible to your audience your company will be the name on their lips and word of your quality services will spread as a result your sales and fame will be increased but it is only happen with the help of marketing.
Customer Retention:- Once your brand has built a solid foundation and made its name, marketing will enable to retain customer and create a solid followership of loyal customer.
Reputation enhancement:- when you get success in your business it is heavily rely on your trustworthy reputation, your marketing build recognition, reputation of the business.
Time saving:- By promoting your product or service through marketing, your business will boost its sales and reach your target audience considerably faster. Effective marketing helps you to get discovered by your audience and engage with them.
Online businesses:- There are lots of way to earn money online, but there are most reliable popular online business models are:
Online Store :- Online store is a most popular form of online business. The person can sell their product and services directly to the customer via debit or credit card or using payment gateway like PayPal, Rupay etc. and can deliver their product through them without renting or buying local store.
Online Advertising :- Online advertising is one of kind very famous or popular form of making money the advertiser will pay to place their advertise on the website just like a traditional media newspaper, magazine etc. Ads will automatically display based on the interest of your sites visitors known as web traffic. That model best work with websites that freely provide information, entertainment, or opinion such as online magazines or blogs. The aim is to attract as many visitors as possible in order to make money online.
Online subscription:- The subscription business model is a business model where a customer must pay an subscription price to have access to product or services, this model is used by websites offering entertainment, or specific service. User can change its subscription fee monthly or annual. Example of online business include Netflix, eHarmony, Times newspaper.
Online brokerage business:-A broker brings seller or buyer together and usually takes a free or commission on successful transaction same a broker website works as a virtual middlemen or marketplace to bring seller or buyer on same platform to make transactions and facilitates to earn money. Well – known broker websites are flipKart,Amazon, shopclues, Gumtree, eBay. The new online business can use these platform to sell their product quickly and earn money.
Come Up with an Idea, name & Business plan:-To start any business, the first step in starting an online business is to decide a business name and creating a business plan is most important aspects. The target audience and objectives should be very much clear to the business point of view that helps to running business quickly.
The successful businessmen start their business identifying customer’s need rather than focusing on product. Finding need of a customer has a good chance to your product or services that people likes. Do some research online to find out the searching behavior of the customer what customer searching for or how many other online businesses are fulfilling their needs.
Using social media is also an important act to increase its customer base and reach out to the potential customers, take feedback/advice on the idea. Be aware that this is not a robust search but simple question it could be an eye opener.
Take an active watch on a trends in your industry attend relevant events, speak to entrepreneurs/startups to seek advice.
You can also use SurveyMonkey or similar survey software, which can be used to target specific audience type, you can set the size or scope of questioning, but beware don’t ask irrelevant or ambiguous question.
Check potential competitor websites and look what they are offering and how they sell their product online and what they charge.
Unique offering of product or services will help make your business stand out from all the rest online.
Choosing a name:- You also need to choose a name of business means registered a business domain name of your websites. The name should be short and easy for customers to remember, be available a domain address for your websites and not be too similar to the name of other company.
Register your online business domain name:-Having your own domain means that you have registered the name with an accredited entity. Businesses often use the name of their company as their domain name because it is easy to remember for people searching on the internet. The name of your domain name should be close to business name otherwise customer fail to search your website on internet.
The domain name can be searched on web-hosting company such as 123 Reg, Go-daddy, Nominet, if the name is already taken the domain register website will suggest variants, avoid offensive/sensitive names.
Hosting your business on the web:- The web hosting company stores your website on its computer server and available on the web for other to see. There are many free services are available but if you serious about running your online business it best way to pay for web hosting that offers you all features and benefits which you want for business growth.
Creation of website :-The attractive and functional websites can be created by yours without spending money on hosting by free platforms such as WordPress, Magento, or Shopify. Instead of it free theme is also available on the websites or you can pay for premium theme that offers more features better results.
Tips of your first websites :- when you plan your first website, concentrate on important elements, for example for online store, you need a vital streamline buying process, up to date stock information and fast delivery of key importance to customer, use one or two fonts and if possible limit them to one colour, A simple menu that containing your home page, contact, and history if possible include ‘contact us’ box so that visitor make quick inquiries and signed up to a mailing list.
Online store will need to have a shopping cart function and secure payment facility to collect payment. Paypal is popular but most of shopper want to pay via credit/debit card. Alternatively most of the small online businesses prefer to use a payment gateway to handle day to day transaction of credit cards. There are lots of affordable e-commerce systems available that can be bought. Update website regularly and optimize your websites for search engine to allow customers to find your website more easily. Wide range of optimizing tools for beginners available download free SEOtoolkit for start-up business.
Online Business Regulations:- As you know that all the businesses online or offline are binding up with certain law or regulations when selling goods and services.
These include :-
The Consumer Contract Regulation: – This refer to numerous legal responsibilities that seller must provide about a business :-
- Information about the seller (business address and contact details)
- An accurate description of goods and services including description of your goods or services and prices including VAT
- Payment details
- Delivery costs and arrangements, and exchange details
- Cancellation rights and relevant time limits
- Costs of returning an item
The Data Protection Act 1998: An act designed to protect personal data stored on computers and laptops etc, into an organised system where it is safe.
The Electronic Commerce Regulations2002: These establish legal rules that online retailers must comply with when dealing with consumers. Retailers must provide information when conducting business via electronic means, such as:
- Technical steps of placing an order
- Terms and conditions under which a contract is made
- Prices must be clear and state if tax is included
- The company’s registration number and location of registration
- The name of the service provider, email address and geographic address
You can find more information on the www.mca.gov.in about the types of regulations that affect online businesses operating in the India.
Register your online business with Governing bodies
As we know that starting any business whether it is online or offline it is mandatory to register it with related government bodies, it’s essential you register your new online business with Ministry of corporate affairs Revenue & Customs to ensure you’re paying the correct amount of tax and National Insurance. You can choose to register as a sole trader or as a business partnership if working with someone else. Alternatively, you can set up a limited company. Each has different legal and tax responsibilities.
Famous Youtuber Lalit Shokeen is also coming to meet you.
Grab the opportunity to meet lots of famous Personalities, You-Tubers and opportunities to explore more with fun.
Also with a noble intention to help the families of martyrs by providing them free DM course for a better career and a good job under IIDMR.
Book your seat (free) at : https://goo.gl/forms/8E73bU2RL9XH7EiF2
Venue : SBIT College, Haryana
Contact No. : 9212555940
Organized by : IIDMR , New Delhi
Latest Update For Haryana : A Good News For You
IIDMR had brought formal mega level advanced digital marketing training in HARYANA for the first time in the history.
[Free Entry : Limited Seats Are Left ]
“DC Fest 2018” at SBIT College Haryana By IIDMR. Lots of famous personalities will come and you will get chance to learn and also for fun.
Book your seat free at : http://bit.ly/2q8sKd8
Date : 9th April, 2018
Venue : SBIT College, Haryana
Contact No. : 9212555940
Organized by : I.I.D.M.R , New Delhi.
Rachna Sharma is the director of the IIDMR ( Indian Institute Of Digital Marketing & Research ). She always strives to promote the concept of digitalizing our nation INDIA which is also popularly known as #digitalindia. In this row, she accepted the opportunity with charm to conduct the #Digicareer Seminar at SBIT to help the students pursuing engineering. The faculty & senior members and also the students had appreciated this endeavor a lot. She also had decided and announced there to provide the free Advanced Digital Marketing formal training to the family members of the armed forces/army of our country since their contribution is highly invaluable. You can check the same below :
The Baahubali franchise is set to go into the portals of history for not just its great story, cinematography, brilliant acting or profits but for the towering benchmark it has created in the digital world. Aside from garnering accolades for a host of things, today no one can beat the fact that intelligent and creative use of the social media and technical expertise have made it an amazing creation of human talent.
Baahubali is a bilingual epic in Telugu and Tamil which uses historical to carry the story forward. Directed by S.S. Rajamouli in the two cinematic parts (first release in 2015 as Baahubali: The Beginning and second release as Baahubali: The Conclusion in April 2017) the film earned a unprecedented Rs 1,000 crores at the box office. Be it the franchise’s visual tapestry or mind-blowing imagery which has been created using digital cameras have all the makings of great use of technology.
The most expensive movie till now, media reports ascribe Baahubali’s stupendous success to several reasons. To begin with, Baahubali has 35.42 lakh likes on the Facebook page, 1.48 lakh followers on Twitter, 1.38 lakh subscribers on Youtube and still increasing day by day.
Social visual channels Instagram and Youtube have been smartly deployed to create hype and generate a higher fan base. The creators of the film have constantly updated ‘behind-the-scenes’ information to give a human connect to the fans and audience of the grand film. Besides these, the filmmakers also created a website named ‘.com’ which displays pictures, blogs, articles, picture galleries, videos and other action packed information. Also, according to popular media reports, “Videos posted on social media as a “Casting call for Baahubali with SS Rajamouli and Prabhas” on Jan 16th, 2013 to select the interested and eligible individuals to perform in a war sequence of the film and same campaign followed for second part too.
Given its outreach and almost insane hype, the creative and market team have decided to make the business boom by doling out exclusive Baahubali merchandise. These include t-shirts, caps, posters, pictures among a host of other goodies. Of course, they have also declared their charitable intentions on the web by announcing a significant contribution to social causes.
Facebook, twitter, Tumblr and other forms of social media have literally exploded with little nuggets of information that have attracted major attention from fans. For instance, these digital social channels have been giving information about the birthdays of the lead actors of the film and have released teasers of the film on these special dates.
Undoubtedly, Baahubali has shown India and the world the magic that can be weaved with a strategic collaboration of intelligence, talent and technology. Let us examine the important aspects that we can pick up from this case.
LESSONS FROM THIS CASE STUDY
- If you are authentic and genuine, then demographics don’t matter as social media unites everyone. Ideally a south Indian film, Baahubali smashed all records in North India and worldwide.
- Positive publicity was created by using hashtags and catchy lines.
- Online tie-ups, contests and promotion fuelled the curiosity and publicity for Baahubali.
- Media has reported that Baahubali: The Beginning” has landed in the second place in Google(India) in the list of the trending searches of 2015 & First place in Google (India) in the list of trending movies of the year 2015. The filmmakers also created history by making it available on Youtube in 4k resolution, making it the first Indian film in Youtube with 4k resolution.
- Media experts point out that The filmmakers also created history by making it available on Youtube in 4k resolution, making it the first Indian film in Youtube with 4k resolution.