KPIs to track for Black Friday

Knowing the results obtained from special events is important to observe if the business objectives have been met and to understand the reasons for the results obtained. Analyzing these KPIs on Black Friday will help you make decisions for future events.

Main KPIs to be analyzed on Black Friday

The main KPIs that will be analyzed during Black Friday will be those related to sales and consumer buying behavior, since, being a date in which the number of sales and web traffic increases, we have the opportunity to understand how users act on our website, what they are looking for, what leads them to abandon the purchase, etc. collecting a lot of information.

Sales KPIs

These KPIs are directly related to our eCommerce sales during Black Friday.

‍

Conversion rate

In this case, the conversion rate or conversion ratio is the percentage of users who make a purchase after entering a website.

‍

This metric is especially important to know the effectiveness of an eCommerce during a special event like Black Friday.

‍

Average ticket value per order

El ticket medio del pedido es la cantidad media de dinero que gasta un cliente por pedido. Gracias a este valor podrás realizar comparaciones con años anteriores y estimaciones de beneficios para próximos eventos.

KPIs user behavior

These are KPIs related to user behavior in an eCommerce.

‍

Rate of abandoned carts

This indicator refers to the percentage of users who, after adding one or more products to their cart, decided not to complete their purchase, so it is important to maintain a low rate of abandoned carts in our eCommerce. If this value is high during Black Friday, we should analyze what led users to abandon their purchase in order to remedy it in the future.

‍

In our article "3 tools to recover abandoned carts", we talked about the main reasons that lead users to abandon their shopping cart and what tools you can implement in your eCommerce to recover abandoned carts.

‍

Website traffic

The traffic of your eCommerce is measured with the number of visits obtained on your website, and it is important to know the number of users who visit our website and compare this figure with the number of sales made, thus obtaining the conversion rate.

Time spent on website

The time spent on a website is the amount of time users spend browsing a website. The higher this figure is, the more interest users will show in our products or services.

‍

Bounce rate

The bounce rate is the percentage of users who leave a website after visiting one of its pages. In this case, the lower the bounce rate, the better it will be for your eCommerce, since users will not leave your website without placing an order.

‍

A high bounce rate will be an indicator that something is wrong with your website, so it is important to control this value and know its cause. Perhaps the prices of your eCommerce are confusing, the information is not detailed or is not optimized for different devices.

KPIs marketing

The metrics related to the marketing campaigns carried out during Black Friday will help us to measure the effectiveness of our actions and make decisions in the following events.

‍

Email open rate

This metric refers to the percentage of users who have opened an email. Together with the number of clicks received from email and the number of users who unsubscribe from your newsletter, it will help you to check whether your email marketing strategy during Black Friday was effective.

‍

Paid traffic received

On major events such as Black Friday, it is common to use paid advertising to get more customers. Paid traffic to your website can be analyzed with tools such as Google Analytics, which show the different user acquisition channels, including paid traffic.

‍

In case the advertising is not targeted to drive traffic to the website, you can measure the number of clicks on the ad, ad reach, conversion rate, etc. based on your paid advertising campaign.

‍

Social media engagement   

Social media is one of the main channels for dissemination of Black Friday campaigns, so it is important to measure the results obtained from publications on social networks, whether paid or organic publications. The engagement generated on social media varies depending on the platform, which usually includes its own metrics analysis tool for professionals.

‍

In general terms, engagement on social networks refers to the interaction of users with your publications, through "likes", "retweets", comments, "reactions", etc. If during Black Friday, engagement on social networks is higher than usual during the rest of the year, your promotional campaign is being effective and you will reach a higher number of users and potential customers, which translates into a greater economic benefit.

‍

Being alert to the metrics of your eCommerce during an event as important as Black Friday is essential to better understand your users and achieve success. If after Black Friday, the metrics reflect unsatisfactory results, it is important to analyze the reason for these results to avoid repeating them in subsequent events. In addition, at Planet you can perform an exhaustive analysis of your competitors to compare results and actions.