Not only are there so many abbreviations and key terms in Automotive, particularly Aftersales, but this is also the case in the world of e-Commerce. This article aims to make sense of the key terms which are relevant and important when operating a successful online sales channel.
e-Commerce is the process of selling products or services through electronic or digital methods, for example the internet.
Unique Visitor – This is the number of people who have visited your store not including the duplication of multiple visits.
Organic Traffic – These people who have found your store without any investment from your organisation.
Bounce Rate – This is measured in a percentage and represents the share of people who have left your store after visiting only 1 page.
Average Session Duration – This is the average amount of time visitors are spending on your store.
SEO - ‘Search Engine Optimisation’ – SEO is the process of improving the visibility of your store and its pages ‘organically’. This is the most cost effective option to drive traffic as this is completely free, however you can only control this to an extent. Optimisation is required and this is the process of making your store attractive to the search engines, such as Google and Bing.
PPC – ‘Pay Per Click’ – This involves you paying to appear on predefined search results, for example if you Google ‘Accessories’, it is possible to appear at the top of the result and you would only pay every time someone clicks through to your store. This is a great opportunity for driving relevant traffic through search engines.
Category – e-Commerce stores often follow a hierarchy in order to structure the product groups, this is known as grouping products into Categories and sub-categories. For example, ‘Accessories’ would be the main Category and ‘Car Cleaning’ would be the sub-category.
Average Order Value – This is the monetary amount of the average order placed on your store over a given time range.
Conversion – This is the ratio of conversions (or sales) compared to the number of visitors your store received.
Fulfilment – This is the process of completing an order placed on your store by delivering the item(s) to the customer.
Inventory – The full list of the items available on your store, also known as the ‘Catalogue’.
Abandoned Checkout – This is the percentage of visitors that add items to the basket/cart but leave before completing the purchase.
Anonymous Checkout – If your checkout does not require customers to register an account, they can complete the purchase as a guest, making it an anonymous checkout.