Americans are looking for more and more products to be available online. That is because 80% of Americans purchase their products online.
If you are someone with a small business presence who is looking to improve your online efficiency, you have come to the right place. This guide will give you five tips you can use to improve your e-commerce dashboard.
1. Note Specific Products
One of the best things you can do to improve your business dashboard is to note what specific products are selling well. This allows you to see what is driving sales and what may be holding you back.
There may be a set of products that are taking off or some that are just a bust. All of this can be information used to adjust your marketing strategy and future inventory. Plus, in some circumstances, you may even adjust your next quarterly budget based on these results.
2. Measure Accounts Receivable
Another important thing that you should have on your dashboard is accounts receivable. This allows you to keep track of what payments your business is still owed, as well as who still owes those payments.
This can impact how much cash on hand you have at one time. Plus, if you do not act fast enough with this, you increase the chances of never seeing the money that you need to collect.
Keep track of this at all times and take measures to ensure that this number stays low.
3. Use More Graphs
The reason why you want to have more graphs on your dashboard is because it is a more effective way to share information.
People remember 65% of what they see. In comparison, people only remember 10% of what they hear.
What does this mean? It means that if you have good visuals, you are more likely to capture people’s attention. To emphasize important information, you should use graphs to get your message across to people.
4. Conversion Rate
A crucial thing to keep track of is what type of conversion rate that you have. Putting this on your dashboard allows your company to see how well you are doing here and where you can improve.
It can measure every different way that you use to try to convert companies. Then, you have the information necessary to know where you are succeeding and failing.
5. Total Traffic
Finally, you want to measure where all of your traffic is coming from. This is especially important if you are using several different platforms. It is also important if you have large investments in sponsorships and certain ad placements.
This allows you to measure how well it is working and if you have enough traffic to sustain your business.
Improve Your E-commerce Dashboard
These are just five tips that you can use to improve your e-commerce dashboard. If you take this advice, you should be more organized and have the information you need to make the proper adjustments.
One thing you can do is use InfoCaptor to help you with this. We are a small team that has been helping businesses with business intelligence reports and data-warehousing for more than 20 years.
Do you have any questions? Message us here.