The objective of enhancing product display options focuses on improving key metrics crucial for a successful product relaunch. By targeting metrics like conversion rate, average order value, and customer retention rate, the plan aims to build a more engaging and profitable shopping experience. For example, optimizing product descriptions and simplifying the checkout process can lead to improved conversion rates, while enhancing product pages with quality content can increase average order values and customer satisfaction.
Metrics like bounce rate and time on page are essential as they reveal how effectively the website grabs and maintains user attention. A low bounce rate and longer time on page suggest that visitors find the content relevant and engaging. To achieve this, improvements such as site loading speed enhancement and interactive element integration are suggested, promoting better user interaction and retention.
Top 5 metrics for Enhancing Product Display Options
1. Conversion Rate
The percentage of visitors who make a purchase, calculated as the number of purchases divided by the total number of visitors.
What good looks like for this metric: 2% to 3%
How to improve this metric:- Optimise product descriptions and images
- Simplify the checkout process
- Highlight customer reviews and testimonials
- Offer personalised recommendations
- Implement A/B testing for page elements
2. Average Order Value
The average amount spent each time a customer places an order, calculated by dividing total revenue by the number of orders.
What good looks like for this metric: $50 to $100
How to improve this metric:- Upsell with related products and bundles
- Offer discounts for bulk purchases
- Implement a loyalty programme
- Provide limited-time offers or promotions
- Enhance product pages with quality content
3. Bounce Rate
The percentage of visitors who leave the site after viewing only one page, calculated by dividing single-page visits by total visits.
What good looks like for this metric: 26% to 40%
How to improve this metric:- Improve site loading speed
- Create strong calls-to-action
- Ensure mobile responsiveness
- Enhance overall website design
- Offer engaging and relevant content
4. Time on Page
The average amount of time users spend on a product page, indicating engagement levels.
What good looks like for this metric: 2 to 3 minutes
How to improve this metric:- Enhance product descriptions and features
- Use high-quality images and videos
- Utilise interactive elements
- Provide detailed FAQs and tutorials
- Optimise layout for readability
5. Customer Retention Rate
The percentage of repeat customers over a specific time period, indicating loyalty and satisfaction.
What good looks like for this metric: 20% to 30%
How to improve this metric:- Deliver exceptional customer service
- Introduce membership or rewards programmes
- Implement feedback mechanisms and surveys
- Communicate through targeted email marketing
- Continuously update and improve product offerings
How to track Enhancing Product Display Options metrics
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your metrics.
