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What is a good webanalytics metric worth to measure?

What the hell should I measure?

There are a lot of blog posts about what a bad and a good metric or KPI is. Often they miss real examples. During my preparation for a Lean Analytics presentation I decided to summarize a couple of examples. We use some of these metrics in our handmade marketplace product www.guzuu.com. Depending on your business (model) the key metrics vary.

Criteria for a good analytics metric

  • A good metric is easy to understand
  • A good metric is comparable towards an "industry standard" or "a previous period"

Example 1: Conversion Rate (measure growth)

A classic and good measure is the conversion rate. If your run a webshop a typical metric could be:

  • X% of the visitors who search the products ordered a product.

Example 2: Sales growth compared with previous period (measure growth)

  • Our turnover grew by 5% since last month.
  • Our quarterly turnover grew by 7% since last quarter.

Example 3: Active users since signup (measure stickiness)

  • X% of the users who signed up 60 days a go used the product in the last 7 day
  • X% of the users who signed up 30 days a go used the product in the last 7 day
  • X% of the users who signed up 14 days a go used the product in the last 7 day

Example 4: Average Purchase Value

  • Total Sales / Number of sales

 

My Slideshare about Lean Analytics