Are you ready to measure for holiday success?
The holiday season is a crucial time for wineries. Wine drinkers love to sieze the months of November and December to purchase their favorite wines for holiday parties or give the gift of wine to their friends and family. That being said, it's not too early for wineries to determine their key performance indicators for holiday success this year. In fact, research from the National Retail Federation revealed the average holiday shopper completed 52.9 percent of their shopping before December 10 last year. There are three KPIs you should keep in mind to measure the success of your online wine store this season:
1. Site traffic
Site traffic is the No.1 KPI your winery should look to both before and after holiday season this year. Site traffic is the number of shoppers who visit your online wine store over a specified period of time. Wineries can be proactive by looking at their site traffic from last year to optimize their marketing efforts this year. Make sure to consider direct, email, social media, referral, advertising, pay-per-click and search traffic to gain a better understanding of the source of visitors to your site. Entrepreneur outlined 17 helpful ways to improve site traffic. Five that stand out for wineries include:
- Facebook marketing.
- Effective email lists.
- Blogging and content marketing.
- SEO optimization.
- Twitter engagement.
2. Conversion rate
Conversion rate is another important KPI. This number will help wineries determine the number of sales their online wine store makes relative to the number of visitors to the site at any given time. Wineries should look at their conversion rates from last year to optimize their marketing and Web design for this year. Further, wineries will be able to determine throughout the holiday shopping season ways to drive more sales by monitoring conversion rates on various parts of the site.
3. Average order value
Finally, wineries will want to look at average order value. Average order value is crucial for determining the success of your online wine store because it is directly tied to profit. Look at your average order value from last year and set a goal to succeed that number this holiday season. Here are a few strategies worth considering:
- Offer shipping incentives. As our white paper "Shipping Incentives: How to Offer Them Without Breaking the Bank" pointed out, customers today expect shipping to be either inexpensive or free. Offering reduced shipping can greatly increase order values.
- Upsell on the site by recommending similar varietals and promoting add-ons during checkout.
- Showcase product ratings and reviews to encourage conversions. Kissmetrics wrote nearly 70 percent of online shoppers seek product reviews on e-commerce sites and forums before making a purchases.
- Promote incentives for wine club membership.
- Provide easy access to customer service that doesn't require shoppers to leave the online wine store.
With the right KPIs at hand, wineries will be prepared for success this holiday season.