50 Metrics to Measure Your Online Performance
November 13, 2017//2,756 words
There are so many ways you can measure your web analytics. There are some classic tried and true methods, some cutting-edge online measures, and metrics that aren’t even mainstream yet! In fact, if you want to be on the top of your industry, come up with your own ways to measure your effectiveness. Question everything. Test everything – over and over again. Try to uncover what works best for you.
This list that I have put together includes 50 different analytic measures (not tools) from various industries and multiple platforms. The purpose of this is to give you too many options so you don’t have an excuse to not try some of these in your own business. Look for the thumbs up next to some of my favorites!. I will also post a short summary of each measure as we go along.
So without further ado…
1. Click-through rate
The click-through rate metric can be used on various channels including online advertising, email marketing, and search. This measures the number of clicks on any given link compared to the number of people who saw the link. On Facebook, the average click-through rate would be in the 2.5%-4% range whereas you could expect to be around the3% range for email marketing.
2. Average session duration
Do your visitors find your content interesting? Make sure that your keywords are relevant that the quality of visitors your site is receiving will be high. If your keywords are not relevant, people will come to your site and find out that your site is not what they were looking for and a low session duration will hurt your SEO.
3. Page views
How many page views does your website have? You don’t want a visitor per page view. You want to encourage your visitor to look around and see all that you have to offer!
4. Cost per click
Like the cost per action below, cost per click is an advertising method common with Google. Is it worth it to my company if my cost per click is $5? Remember, on Google, this is just the price you’ll pay to get someone to your site. You still have to convert them!
One of the most highly used metrics, conversions can measure anything on your site. How many people are subscribing to your site? How many downloads of the PDF did you receive? Obviously, if you take the time to put together a process, you want people to convert!
6. Cost per action
Many online advertising channels use this metric and pay for a specified action (i.e. a click on a banner ad).
7. Lifetime value
How much value will the customer bring over the course of his/he life? This assumes that your relationship is excellent and the customer will return time and time again.
8. Gross Margin
Mathematically, gross margin is total sales minus cost of goods sold, divided by revenue.
How much income is your website generating?
10. Referral Rate
The referral rate measures the customer satisfaction level of your business. Similar to the net promoter score below, but just in terms of the amount of people who would in fact refer you to someone else.
11. Net promoter score
The net promoter score helps you to measure customer satisfaction and loyalty. This score is discovered by asking the customer: How likely is it that you would recommend our company/product to a friend?
12. Referral conversion rate
Having referrals is great, but you should know the quality of visitors coming from each referral. If it’s low, you may want to look at some of those referrals to be removed. If it’s high, contact the webmaster of that site and see if you can increase your partnership!
13. Email open rate
In email marketing, this rate measures the effectiveness of your subject line. See an article about optimizing your subject lines from Neil Patel.
14. Cost per subscriber
Used by news sites, how many subscribers do you have and what is the cost associated with producing a piece of content?
15. Opt in percentage
What is the rate of people opting in to your offer? Make sure you take the time to put together a solid offering to not disappoint your audience.
16. Hard bounce
The hard bounce refers to email marketing where your sent email gets returned because the address is invalid.
17. Subscriber growth rate
How quickly are you gaining new subscribers to your site? Is your content compelling enough to get people to sign up?
18. Bounce rate
What is the bounce rate on your site? This refers to the percentage of people who enter a page on your site and then leave that same page without viewing additional pages. Make sure your landing pages are clear and concise and start the visitor quickly on the sales funnel.
19. Unique visitors
Are you doing a good job by generating new and unique visitors to your website? The 2 biggest ways of doing this are through SEO and social media.
20. Returning visitors
How many people are continuing to come to your site time and time again? You don’t want to turn people away. Offer valuable content and a great experience and people will come back!
21. Visits to purchase
How many times does a visit need to view your page before making a purchase? To reduce this number, give the customer all of the information that they need so they feel satisfied when making a purchase on your site.
22. Average order size
If you have a large store, are people tacking extra add-ons to their main purchase? Amazon is the master of the product suggestion.
23. Per visit value
The per visit value can be used for advertising or sales. How many visits do you have compared to how many sales you’ve made or revenue you’ve generated?
24. Time on page
Is your content interesting enough to keep people on your page? The time on page metric is very important from an SEO standpoint but also for user experience. If your blog post has an average time of 10 seconds then you can assume that people are not reading very far!
25. Onsite searches
Is your site seen by customers as a source for finding good products online? You don’t want someone leaving your page to perform a search on Google. The bohemoth Amazon.com nowowns 44% of all product searches as of last October.
26. Cart abandonment rate
Is your website sealing the deal on your shopping cart? Obviously, if you got this far, the rest of the site did the job. Keep your shopping cart page clear from too many distractions taking customers away from the actual purchase.
27. Coupon redemption rate
Is your coupon a hit? Was it just too good of a deal to not pass up? I have worked with many clients who struggle to “give money away.” If done right, you will create such a buzz that the money you “gave away” is miniscule compared to the new customers you received and word-of-mouth marketing it generated.
28. Top referring sites
Do you have good backlinks coming into your site? Backlinks are primarily good none the less, however, it’s best to get referrals from sites that have high authority. High authority sites include many .org websites.
29. Social Media Shares
How are your posts performing? Is it generating likes, comments, and shares? Be sure that you are including bright and vibrant images, participating in popular hashtags, and not looking at social media as your own personal billboard. Connect with the crowd – that’s social media!
30. Number of Followers
Simply how many likes or followers do you have on social media. While you want this number to grow, obviously, don’t get too caught up into growing just this number. It’s important to engage with your current audience!
31. Number of repeat advertiser
Is your site generating consistent traffic? Is the advertiser relevant? If those 2 pieces of information are true than it’s likely you’ll have a repeat advertiser.
32. Top entry pages
Your top entry pages can be popular because of a good ranking on Google or high percentage of shares on social media. Take what’s working with these pages and try to emulate this with some of your other pages. Many times, a companies about page can be a top entry. If that’s the case, what sort of call-to-action can you put on that page that will encourage the journey to other parts of your site?
33. Top exit pages
With Google Analytics, you can view which pages of your website the greatest number of traffic is when they leave your site. This is helpful because it can point out a particular page that is lacking in interesting content, or perhaps it will reveal to you that you are missing call-to-actions on this page that will keep your audience exploring your site. Either way, even if the top exit page is at the end of one of your sales funnels, see if you can hook them with some additional content before they go.
34. Number of downloads
This metric does not require any math, however, you need to determine the importance of this metric for you. Is it important that your customers get their hands on your download or are you just trying to gather email addresses? Are the downloads not as high as you were hoping? Maybe your keywords aren’t relevant enough to bring in the most optimum audience.
35. Page views per visit
With each unique visitor, how many pages are they viewing each time they visit your site? Is your content rich enough and your call-to-actions transparent enough to encourage a full user experience?
36. Average revenue per user
This metric is most common with communications and network companies. It simply measures the total revenue divided by the number of users/subcribers their company has.
37. Daily active users
As the title suggests, this metric measures how many people use a given service, product, or platform on any given day. If you have a SAAS company, you will want to measure this frequently. As of last year, Facebook had over 1.5 billion active daily users.
38. Churn rate
The churn rate measures the amount of customers who stop subscribing to a service. This may be due to price increases (i.e. cable bill), customer service declining, or simply a lack of quality experiences using the given service. Churn rate can also refer to employees leaving a place of employment – which increases expenses in the form of training.
39. Operating productivity
Operating productivity is a general metric that refers to overall efficiency. This can be used to install best practice order creation for warehouse employees or words per minute for content creation.
40. Standard gross margin
A metric that classifies businesses based on their location, population, and perhaps level of local interest. If you are located in a key area for your industry, then you can expect a higher level of profit. However, if you are not in an area of say high population, your expectations need to be measured.
41. Monthly profit/loss
Simple – did you make more money last month than you lost?
42. Overhead costs
Overhead costs are a type of fixed cost that addresses things like accounting fees, rent, supplies, taxes, and telephone bills. Obviously, it’s important to consider all overhead costs before starting a business that will require space and storage.
43. Variable cost percentage
This is the ratio of variable costs to sales. This mainly covers the categories left out of the fixed costs (i.e. labor).
44. Inventory size
For any business that sells physical products, inventory is often the number 1 cost. Not only the purchase of inventory, but the facility lease, electricity to maintain the optimal temperature for the inventory, and security. You need enough inventory to allow the sales to grow, but only as much as will keep you within your current fixed costs.
45. Hours worked per process
This is primarily an operations process measured by warehouse and logistics managers. However, even if you are a one person blog, it’s good to know how many hours you’re working to produce a blog post or infographic. Then assess if that time is being well spent.
46. Retention rate
Retention rate measures how well your site is doing by retaining current visitors.
47. New v.s. returning visitors
Understanding your rate of new versus returning visitors is important to your strategy. Many times, our focus is to create an inbound strategy to seek new visitors and this content is pushed on as many platforms as possible. However, you also want to return previous visitors as well by being sure your audience has a chance to engage with you on your site.
If you want to be recognized as a top brand in your industry, then high frequency is what you need. This is achieved by putting out such rich and relevant content that people are returning to your site at least twice in the same week. This will also tell you if your content is generating interest.
49. On site participation
On-site participation includes comments and replies to blog posts. This is important for search engines to see when they want to rank your site highly on their results.
50. Off-site participation
Off-site participation in today’s world is primarily social media. How big is your audience and how engaged are they? Don’t put all of your time into your site and none into social media. You want the 2 to be highly linked!