KPIs for B2B eCommerce
Now that we’re approaching close to 70,000 visits, and almost $10M of revenue, per month from our various B2B websites, I think it’s time to reflect on what we’re learning from an analytics’ perspective. If for no other reason than to establish benchmark metrics that can guide future SAP Integrated sell-side B2B ecommerce projects across the industry. I wish we had access to this information when we got started!
To begin with I think we’re operating in a parallel universe to all of the B2C ecommerce folks. That’s because in our SAP Integrated B2B world, the #1 goal of our client’s websites isn’t to attract new customers, it’s to make life easier for their existing ones. All the users of our client’s B2B websites are there by invitation only.
In the B2C ecommerce world, marketeers (and their metrics) are obsessed with driving new traffic to their websites, keeping visitors there for as long as possible and to do whatever they can to prevent them from abandoning their shopping carts.
In our world, the success of our websites is measured by understanding:
- Adoption – how deeply has the website been adopted by our client’s existing customer base
- Commerce – how much revenue (by whom and for what and how often), is generated on the web, and
- Efficiency – how much relief has all of this web activity brought to their customer service organization
The similarity between our metrics focus and those of the B2C world are that we both want to understand what’s currently going on so that we can do more of the good stuff and less of the bad. In other words, we both want “Actionable Intelligence” linked to real business value.
A quick aside here. I serve on the Advisory Board of the world’s leading Criminal/Military Intelligence Management Software company, Memex. While b2b2dot0 doesn’t have to worry about catching terrorists, criminals or uncover bombing plots, my term served with David Carrick, his company and customers, has spliced the value of Actionable Intelligence into my DNA. We don’t collect data just to collect data…we want to “connect the dots!”
In the coming days, I’ll share how we’re using Google Analytics to make sure that our clients are wringing all of the value possible out of their investments in our b2b2dot0 service. We’ve got some exciting things to share with you!
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