That’s not a surprise for eCommerce retailers to face with some difficulties while identifying and forecasting some of their KPI’s. Also, they might be unaware of how to boost their productivity, increase their revenue and save their time by eliminating daily works done manually. Sorry to say but it’s true that with the help of automated tools, we have to change the responsibilities of some of the job titles.
Thanks to KPI calculators designed by SaaS companies, eCommerce retailers can have a better understanding about their KPIs that need to be improved. These KPI calculators are totally free to use and highly customizable depending on your own business’ metrics. What I mean you can enter every actual metrics to realize the current performance. Moreover, if you have some goals to reach in terms of KPI and can’t figure out how to achieve that numbers, these calculators can be also used as a quick reference.
This blog post focuses on 14 KPI calculators that help you to let you learn more about your current and potential performance while providing your business team with a greater understanding of the needs of your eCommerce store.
If you would like to get a quick analysis with comprehensive reports about your online store, add these tools your arsenal. Here, 14 KPI calculators that you might want to try.
In eCommerce, pricing is one of the most crucial things that customers have a look when they want to buy a product. It is a well-known fact that online shoppers have great abilities to hunt the best deals. They are armed with search and price comparison engines. Moreover, they are surrounded with vast of product choices. So, gaining the ability to monitor the competitors and market becomes an inevitable act for online stores to catch consumers in a dynamic market.
Prisync’s Benefit Calculator helps you to wonder how much time and revenue will you earn if you decide to use competitor price tracking software in order to eliminate the manual work and monitor the market automatically.
The most profitable stores are focused on getting repeat purchases through retention marketing. Loyalty programs continually lead results by making existing customers more profitable and they create loyal customers who are keen on shopping more from you and enhance the lifetime value per customer.
The Retention Calculator by Smile.io shows you the metrics that can be a reference to your retention performance such as purchase frequency, customer lifetime value. At last, the calculator brings out a diagram that points out the estimated extra revenue to be gained by starting a loyalty program.
The most challenging part of drop shipping is to forecast the demand, manage the inventory and target a profitable revenue. To overcome that problem, a great execution and estimation are needed in order to sustain the growth of your business and keep your customers always satisfied.
Oberlo’s Dropshipping Traffic Calculator will tell you how many visitors you need to attract to your store to reach your targeted revenue. With that quick information, you can plan your orders from the supplier and have a dedicated plan.
A/B testing allows you to make more out of your existing traffic. As the needs of online shoppers change and evolve every day, you should continuously test and optimize your website.
To justify the results of your tests, you can take a look at VWO’s A/B Test Significance Calculator which lets all eCommerce companies figure out if their A/B tests are significant or not.
There are so many website graders around the Internet, but one of them is much more detailed and accurate. Hubspot’s Website Grader scores your website by analyzing the performance, mobile, SEO and security status. By taking this information as a reference, you can start making your website easy for users discover with better contents and design. After you start optimizing your online store you will see its impact on increasing the traffic and site speed, improving the conversion rates, generating more leads and boosting the revenue.
Think about a scenario, you launched a charming product to the market and it’s selling like crazy. You are amazed at the sales results and expecting to keep up the good work. But, you need to be careful about your inventory level. You have to reorder before it goes out. If you order too early, you have to spend more for storing costs. If you miss ordering at right time, the conversion rates will decrease as online shoppers don’t hesitate to leave your store for one of your competitors if you fail to fulfil their needs. TradeGecko inventory and order management software’s calculator calculates the best time to reorder products.
One of the most important things that every eCommerce companies should focus on is their Net Promoter Score.
With NPS tools, you are able to understand the journey of customers and find out how likely your users are willing to promote your product or service to their audience.
Delighted’s NPS Calculator calculates your overall NPS score by calculating scores from the surveys that you’ve conducted. You can also estimate how many promoters do you need to reach your KPI.
Instead of being bombarded by a huge paperwork, an accounting tool that fits your business can help your business growing. Moreover, the productivity of your employees will be improved significantly.
With the given data of the number of orders per month and an hourly salary of the data-entry employee, Webgility’s Accounting Automation ROI Calculator estimates how much time and money you are going to save if you adapt automated accounting solution.
The growth rate of an online store is related to mostly about its monthly visits, unique visitors, conversions, retention and cart abandonment rate depending on its industry.
Perpetto’s eCommerce Growth Calculator helps you to find out what is your eCommerce growth score and potential annual revenue opportunity. Great tool to see the big picture of your business.
You put everything in order to get consumers to your store. But do you also put the same effort in preventing visitors from leaving your shop? Often this is not the case and that is a shame. In 70% of the cases, customers leave the shop without having made a purchase.
Rejoiner’s Card Abandonment ROI Calculator identifies the percentage of card abandonment rate, the number of abandoned customers during the checkout process and total lose revenue from abandoned cards.
Profit margins are the major indicator whether your business will survive and grow or sink. Comparing with other variants, there is no other metric affecting directly the financial health of your business. This is especially much more obvious in the eCommerce industry. Here, the question surrounding in founders/managers’ mind! What can e-commerce companies do to improve their profit margins?
Shopify’s Profit Margin Calculator shows you the best selling price by melting your costs and markups in the same pot and helps you to aim desired margins.
Shopify’s next tool, PayPal Fee Calculator helps you to identify how much you will receive after one transaction and how much you should aim to set your selling prices in order to get expected revenue after the cut-off from PayPal.
By identifying and reducing frustrating parts of the website you can decrease abandonment rates and gain lost revenue.
BlueSnap’s Checkout Conversion Calculator offers test-based calculator to online merchants. This tool is mostly about understanding which part should be optimized in order to increase the conversions. The questionnaire is split into two parts – part one is about pre-payment starting from the beginning of shopping journey to the moment shopper click buy button. The second part addresses the payment process and tries to understand what could be the cause of checkout without closing the deal.
We also would like to show a useful calculator for SaaS companies. Even LTV is a crucial metric for subscription businesses, SaaS companies face difficulties while trying to estimate this metric. By knowing perfectly LTV, you can balance customer acquisition spend, determine payback period and provide valuable reports for investors.
ChartMogul’s LTV Calculator finds out the LTV for your business.
Omniconvert’s Website Optimization Grade helps you to find out how well optimized your website. With a detailed report including also some optimization advices upon your score, you will get scores of general optimization, product page and cart page.
Another great KPI calculator from Omniconvert addresses and helps you to understand the right mix of growth strategy for your e-commerce store. That calculator provides you a quick and comprehensive report in order to grow your online business.
We’ve tried to mention interactive and highly customizable calculators that add value by answering your prospect’s most pressing questions. With the help of these calculators, you can get an idea about how to increase your revenue and productivity with monthly subscription fees. The outcomes from these calculators can help your business development, marketing and sales team to learn more about the current and potential growth of whole business efforts. Take a look these business-friendly calculators through our resource and let’s see what type of results you can generate.
Please don’t hesitate to share with us if you know of another great one.
This article was first published on getapp.com. You can reach it from here.