Marketing KPIs To Track Growth Of Online Marketplace

As I said in the earlier post, online marketplace success is measured by two factors: Business and Marketing metrics. In the previous chapter, you have seen the Business metrics KPIs. Thus, in this chapter, you’ll see marketing metrics.

Your wholesale business may be adjusted to increase sales and marketing efforts, and improve the consumer buying experience with the help of the proper KPIs.

Utilizing a B2B online marketplace platform that allows native access to several KPIs can assist with inventory management, pricing strategy, orders, and creating a positive customer experience that will encourage repeat business from retail customers.

Metrics to Analyze and Grow User Engagement:

Usage analytics will demonstrate how user interactions are impacted by your product development initiatives. You may use them to determine the number of visitors and duration of visits to your website. The number of visitors, bounce rate, and time spent on the site are among them. Every website tracks the same fundamental metrics to track its development; these data are not exclusive to online marketplaces.

Monthly/Daily Active Users (MAU or DAU):

Beyond traffic, downloads, or installations, it shows actual people who engaged with your product or service within the specified time frame. They may be used to determine the user ratio percentage by calculating the DAU/MAU ratio.

By using this indicator, you may determine how attractive and well-liked your online marketplaces are, evaluate the customer experience and the success of your marketing initiatives, and then plan for client retention.

Traffic (Organic / Paid):

It displays the overall number of individuals who used sponsored content, social media advertisements, paid search, or organic search to find and visit the website.

As a result, you can determine which kind of marketing is more successful for your platform. For instance, about bought traffic, you may use it to determine if you should keep up the marketing and how accurate your targeting is.

Bounce Rate:

The percentage of people that visited one page of a website or app before leaving may be calculated using the bounce rate. More conversions result from a decreased bounce rate on your platform.

You may discover the problems with your B2B online marketplace platform and plan a remarketing campaign to get visitors back by monitoring and analyzing bounce rates.