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67 Key Performance Indicators (KPIs) for Ecommerce

Performance should inform business decisions, and KPIs should drive actions.

Key performance indicators (KPIs) are like milestones on the road to online retail success. Monitoring them will help ecommerce entrepreneurs identify progress toward sales, marketing, and customer service goals.

KPIs should be chosen and monitored depending on your unique business goals. Certain KPIs support some goals while they’re irrelevant for others. With the idea that KPIs should differ based on the goal being measured, it’s possible to consider a set of common performance indicators for ecommerce.

Table of Contents

1) What is a performance indicator?

2) What is a key performance indicator?

3) Why are key performance indicators important?

4) What is the difference between a SLA and a KPI?

5) Types of key performance indicators

6) 67 key performance indicator examples for ecommerce

7) How do I create a KPI?

Here is the definition of key performance indicators, types of key performance indicators, and 67 examples of ecommerce key performance indicators.

What is a performance indicator?

A performance indicator is a quantifiable measurement or data point used to gauge performance relative to some goal. As an example, some online retailers may have a goal to increase site traffic 50% in the next year.

Relative to this goal, a performance indicator might be the number of unique visitors the site receives daily or which traffic sources send visitors (paid advertising, search engine optimization, brand or display advertising, a YouTube video, etc.)
What is a key performance indicator?

For most goals there could be many performance indicators — often too many — so often people narrow it down to just two or three impactful data points known as key performance indicators. KPIs are those measurements that most accurately and succinctly show whether or not a business in progressing toward its goal.
Why are key performance indicators important?

KPIs are important just like strategy and goal setting are important. Without KPIs, it’s difficult to gauge progress over time. You’d be making decisions based on gut instinct, personal preference or belief, or other unfounded hypotheses. KPIs tell you more information about your business and your customers, so you can make informed and strategic decisions.

But KPIs aren’t important on their own. The real value lies in the actionable insights you take away from analyzing the data. You’ll be able to more accurately devise strategies to drive more online sales, as well as understand where there may problems in your business.

Plus, the data related to KPIs can be distributed to the larger team. This can be used to educate your employees and come together for critical problem-solving.
What is the difference between a SLA and a KPI?

SLA stands for service level agreement, while a KPI is a key performance indicator. A service level agreement in ecommerce establishes the scope for the working relationship between an online retailer and a vendor. For example, you might have a SLA with your manufacturer or digital marketing agency. A KPI, as we know, is a metric or data point related to some business operation. These are often quantifiable, but KPIs may also be qualitative.
Types of key performance indicators

There are many types of key performance indicators. They may be qualitative, quantitative, predictive of the future, or revealing of the past. KPIs also touch on various business operations. When it comes to ecommerce, KPIs generally fall into one of the following five categories:

Sales
Marketing
Customer service
Manufacturing
Project management

67 key performance indicator examples for ecommerce

Note: The performance indicators listed below are in no way an exhaustive list. There are an almost infinite number of KPIs to consider for your ecommerce business.

What are key performance indicators for sales?
What are key performance indicators for marketing?
What are key performance indicators for customer service?
What are key performance indicators for manufacturing?
What are key performance indicators for project management?

What are key performance indicators for sales?

Sales key performance indicators are measures that tell you how your business is doing in terms of conversions and revenue. You can look at sales KPIs related to a specific channel, time period, team, employee, etc. to inform business decisions.

Examples of key performance indicators for sales include:

Sales: Ecommerce retailers can monitor total sales by the hour, day, week, month, quarter, or year.

Average order size: Sometimes called average market basket, the average order size tells you how much a customer typically spends on a single order.

Gross profit: Calculate this KPI by subtracting the total cost of goods sold from total sales.

Average margin: Average margin, or average profit margin, is a percentage that represents your profit margin over a period of time.

Number of transactions: This is the total number of transactions. Use this KPI in conjunction with average order size or total number of site visitors for deeper insights.

Conversion rate: The conversion rate, also a percetage, is the rate at which users on your ecommerce site are converting (or buying). This is calculated by dividing the total number of visitors (to a site, page, category, or selection of pages) by the total number of conversions.

Shopping cart abandonment rate: The shopping cart abandonment rate tells you how many users are adding products to their shopping cart but not checking out. The lower this number, the better. If your cart abandonment rate is high, there may be too much friction in the checkout process.

New customer orders vs. returning customer orders: This metric shows a comparison between new and repeat customers. Many business owners focus only on customer acquisition, but customer retention can also drive loyalty, word of mouth marketing, and higher order values.

Cost of goods sold (COGS): COGS tells you how much you’re spending to sell a product. This includes manufacturing, employee wages, and overhead costs.

Total available market relative to a retailer’s share of market: Tracking this KPI will tell you how much your business is growing compared to others within your industry.

Product affinity: This KPI tells you which products are purchased together. This can and should inform cross-promotion strategies.

Product relationship: This is which products are viewed consecutively. Again, use this KPI to formulate effective cross-selling tactics.

Inventory levels: This KPI could tell you how much stock is on hand, how long product is sitting, how quickly product is selling, etc.

Competitive pricing: It’s important to gauge your success and growth against yourself and against your competitors. Monitor your competitors’ pricing strategies and compare them to your own.

Customer lifetime value (CLV): The CLV tells you how much a customer is worth to your business over the course of their relationship with your brand. You want to increase this number over time through strengthening relationships and focusing on customer loyalty.

Revenue per visitor (RPV): RPV gives you an average of how much a person spends during a single visit to your site. If this KPI is low, you can view website analytics to see how you can drive more online sales.

Churn rate: For an online retailer, the churn rate tells you how quickly customers are leaving your brand or canceling/failing to renew a subscription with your brand.

Customer acquisition cost (CAC): CAC tells you how much your company spends on acquiring a new customer. This is measured by looking at your marketing spend and how it breaks down per individual customer.

What are key performance indicators for marketing?

Key performance indicators for marketing tell you how well you’re doing in relation to your marketing and advertising goals. These also impact your sales KPIs. Marketers use KPIs to understand which products are selling, who’s buying them, how they’re buying them, and why they’re buying them. This can help you market more strategically in the future and inform product development.

Examples of key performance indicators for marketing include:

Site traffic: Site traffic refers to the total number of visits to your ecommerce site. More site traffic means more users are hitting your store.

New visitors vs. returning visitors: New site visitors are first-time visitors to your site. Returning visitors, on the other hand, have been to your site before. While looking at this metric alone won’t reveal much, it can help ecommerce retailers gauge success of digital marketing campaigns. If you’re running a retargeted ad, for example, returning visitors should be higher.

Time on site: This KPI tells you how much time visitors are spending on your website. Generally, more time spent means they’ve had deeper engagements with your brand. Usually, you’ll want to see more time spent on blog content and landing pages and less time spent through the checkout process.

Bounce rate: The bounce rate tells you how many users exit your site after viewing only one page. If this number is high, you’ll want to investigate why visitors are leaving your site instead of exploring.

Pageviews per visit: Pageviews per visit refers to the average number of pages a user will view on your site during each visit. Again, more pages usually means more engagement. However, if it’s taking users too many clicks to find the products they’re looking for, you want to revisit your site design.

Average session duration: The average amount of time a person spends on your site during a single visit is called the average session duration.

Traffic source: The traffic source KPI tells you where visitors are coming from or how they found your site. This will provide information about which channels are driving the most traffic, such as: organic search, paid ads, or social media.

Mobile site traffic: Monitor the total number of users who use mobile devices to access your store and make sure your site is optimized for mobile.

Day part monitoring: Looking at when site visitors come can tell you which are peak traffic times.

Newsletter subscribers: The number of newsletter subscribers refers to how many users have opted into your email marketing list. If you have more subscribers, you can reach more consumers. However, you’ll also want to look at related data, such as the demographics of your newsletter subscribers, to make sure you’re reaching your target audience.

Texting subscribers: Newer to digital marketing than email, ecommerce brands can reach consumers through SMS-based marketing. Texting subscribers refers to the number of customers on your text message contact list. To get started with your own text-based marketing, browse these SMS Shopify apps.

Subscriber growth rate: This tells you how quickly your subscriber list is growing. Pairing this KPI with the total number of subscribers will give you good insight into this channel.

Email open rate: This KPI tells you the percentage of subscribers that open your email. If you have a low email open rate, you could test new subject lines, or try cleaning your list for inactive or irrelevant subscribers.

Email click-through rate (CTR): While the open rate tells you the percentage of subscribers who open the email, the click-through rate tells you the percentage of those who actually clicked on a link after opening. This is arguably more important than the open rate because without clicks, you won’t drive any traffic to your site.

Unsubscribes: You can look at both the total number and the rate of unsubscriptions for your email list.

Chat sessions initiated: If you have live chat functionality on your ecommerce store, the number of chat sessions initiated tells you how many users engaged with the tool to speak to a virtual aide.

Social followers and fans: Whether you’re on Facebook, Instagram, Twitter, Pinterest, or Snapchat (or a combination of a few), the number of followers or fans you have is a useful KPI to gauge customer loyalty and brand awareness. Many of those social media networks also have tools that ecommerce businesses can use to learn more about their social followers.

Social media engagement: Social media engagement tells you how actively your followers and fans are interacting with your brand on social media.

Clicks: The total number of clicks a link gets. You could measure this KPI almost anywhere: on your website, social media, email, display ads, PPC, etc.

Average CTR: The average click-through rate tells you the percentage of users on a page (or asset) who click on a link.

Average position: The average position KPI tells you about your site’s search engine optimization (SEO) and paid search performance. This demonstrates where you are on search engine results pages. Most online retailers have the goal of being number one for their targeted keywords.

Pay-per-click (PPC) traffic volume: If you’re running PPC campaigns, this tells you how much traffic you’re successfully driving to your site.

Blog traffic: You can find this KPI by simply creating a filtered view in your analytics tool. It’s also helpful to compare blog traffic to overall site traffic.

Number and quality of product reviews: Product reviews are great for a number of reasons: They provide social proof, they can help with SEO, and they give you valuable feedback for your business. The quantity and content of product reviews are important KPIs to track for your ecommerce business.

Banner or display advertising CTRs: The CTRs for your banner and display ads will tell you the percentage of viewers who have clicked on the ad. This KPI will give you insight into your copy, imagery, and offer performance.

Affiliate performance rates: If you engage in affiliate marketing, this KPI will help you understand which channels are most successful.

What are key performance indicators for customer service?

Customer service KPIs tell you how effective your customer service is and if you’re meeting expectations.You might be wondering: what should the KPIs be in our call center, for our email support team, for our social media support team, etc. Measuring and tracking these KPIs will help you ensure you’re providing a positive customer experience.

Key performance indicators for customer service include:

Customer satisfaction (CSAT) score: The CSAT KPI is typically measured by customer responses to a very common survey question: “How satisfied were you with your experience?” This is usually answered with a numbered scale.

Net promoter score (NPS): Your NPS KPI provides insight into your customer relationships and loyalty by telling you how likely customers are to recommend your brand to someone in their network.

Hit rate: Calculate your hit rate by taking the total number of sales of a single product and dividing it by the number of customers who have contacted your customer service team about said product.

Customer service email count: This is the number of emails your customer support team receives.

Customer service phone call count: Rather than email, this is how frequently your customer support team is reached via phone.

Customer service chat count: If you have live chat on your ecommerce site, you may have a customer service chat count.

First response time: First response time is the average amount of time it takes a customer to receive the first response to their query. Aim low!

Average resolution time: This is the amount of time it takes for a customer support issue to be resolved, starting from the point at which the customer reached out about the problem.

Active issues: The total number of active issues tells you how many queries are currently in progress.

Backlogs: Backlogs are when issues are getting backed up in your system. This could be caused by a number of factors.

Concern classification: Beyond the total number of customer support interactions, look at quantitative data around trends to see if you can be proactive and reduce customer support queries. You’ll classify the customer concerns which will help identify trends and your progress in solving issues.

Service escalation rate: The service escalation rate KPI tells you how many times a customer has asked a customer service representative to redirect them to a supervisor or other senior employee. You want to keep this number low.

What are key performance indicators for manufacturing?

Key performance indicators for manufacturing are, predictably, related to your supply chain and production processes. These may tell you where efficiencies and inefficiencies are, as well as help you understand productivity and expenses.

Key performance indicators for manufacturing in ecommerce include:

Cycle time: The cycle time manufacturing KPI tells you how long it takes to manufacture a single product from start to finish. Monitoring this KPI will give you insight into production efficiency.

Overall equipment effectiveness (OEE): The OEE KPI provides ecommerce businesses with insight into how well manufacturing equipment is performing.

Overall labor effectiveness (OLE): Just as you’ll want insight into your equipment, the OLE KPI will tell you how productive the staff operating the machines are.

Yield: Yield is a straightforward manufacturing KPI. It is the number of products you have manufactured. Consider analyzing the yield variance KPI in manufacturing, too, as that will tell you how much you deviate from your average.
First time yield (FTY) and first time through (FTT): FTY, also referred to as first pass yield, is a quality-based KPI. It tells you how wasteful your production processes are. To calculate FTY, divide the number of successfully manufactured units by the total number of units that started the process.

Number of non-compliance events or incidents: In manufacturing, there are several sets of regulations, licenses, and policies businesses must comply with. These are typically related to safety, working conditions, and quality. You’ll want to reduce this number to ensure you’re operating within the mandated guidelines.

What are key performance indicators for project management?

Key performance indicators for project management give you insight into how well your teams are performing and completing specific tasks. Each project or initiative within your ecommerce business has different goals, and must be managed with different processes and workflows. Project management KPIs tell you how well each team is working to achieve their respective goals and how well their processes are working to help them achieve those goals.

Key performance indicators for project management include:

Hours worked: The total hours worked tells you how much time a team put into a project. Project managers should also assess the variance in estimated vs. actual hours worked to better predict and resource future projects.

Budget: The budget indicates how much money you have allocated for the specific project. Project managers and ecommerce business owners will want to make sure that the budget is realistic; if you’re repeatedly over budget, some adjustments to your project planning need to be made.

Return on investment (ROI): The ROI KPI for project management tells you how much your efforts earned your business. The higher this number, the better. The ROI accounts for all of your expenses and earnings related to a project.

Cost variance: Just as it’s helpful to compare real vs. predicted timing and hours, you should examine the total cost against the predicted cost. This will help you understand where you need to reel it in and where you may want to invest more.

Cost performance index (CPI): The CPI for project management, like ROI, tells you how much your resource investment is worth. The CPI is calculated by dividing the earned value by the actual costs. If you come in under one, there’s room for improvement.

How do I create a KPI?

Selecting your KPIs begins with clearly stating your goals and understanding which areas of business impact those goals. Of course, KPIs for ecommerce can and should differ for each of your goals, whether they’re related to boosting sales, streamlining marketing, or improving customer service.
Key performance indicator templates

Here are a few key performance indicator templates, with examples of goals and the associated KPIs.

GOAL 1: Boost sales 10% in the next quarter.

KPI examples:

Daily sales.
Conversion rate.
Site traffic.

GOAL 2: Increase conversion rate 2% in the next year.

KPI examples:

Conversion rate.
Shopping cart abandonment rate.
Competitive pricing.

GOAL 3: Grow site traffic 20% in the next year.

KPI examples:

Site traffic.
Traffic sources.
Promotional click-through rates.
Social shares.
Bounce rates.

GOAL 4: Reduce customer service calls by half in the next 6 months.

KPI examples:

Service call classification.
Pages visited immediately before call.

There are many performance indicators and the value of those indicators is directly tied to the goal measured. Monitoring which page someone visited before initiating a customer service call makes sense as a KPI for GOAL 4 since it could help identify areas of confusion that, when corrected, would reduce customer service calls. But that same performance indicator would be useless for GOAL 3.

Once you have set goals and selected KPIs, monitoring those indicators should become an everyday exercise. Most importantly: Performance should inform business decisions and you should use KPIs to drive actions.

By Mark Hayes

Be the Head and Not the Tail

“All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.” – Philosopher Arthur Schopenhauer

This has been true since the beginning of time…

The automobile…
The mobile phone…
The Internet…

And so it goes with the quest to ‘work online’ or ‘work from home.’

It’s often the case when people hear you talk about creating an online business, or ‘working from home.’

Your friends and family think you’re crazy, then they try to stop you…then they’re jealous of the amazing lifestyle you find!

We know what that’s like…

We went from thinking it was ‘too good to be true,,,,’

… to joining those that had already escaped the rat race… fired their boss, and were living the life of their dreams in whatever slice of paradise they had discovered…

We have friends who have their ‘slice of paradise’ in the Swiss Alps, a beachfront house in Costa Rica, and a cliff-top home overlooking the Sea of Cortez in Mexico. Of course, it’s wonderful to have this network of friends who also work online – we spend a lot of time on ‘working holidays’ visiting each other!

In the future, this e-economy with be the norm rather than the exception, so why not be an early adopter, and beat the masses, and get established now.

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From Entrepreneur to Millionaire – See the Difference!

“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.”

~ Charlie Munger

Have you ever wondered what entrepreneurs did to become millionaires? and how they easily became multi-millionaires?
They became millionaires because of their dedication, patience and focus. They became multi-millionaires so easily because after reaching their first million, everything else falls into places.

However, they say it’s difficult to reach their first million. Why?

Because most entrepreneurs often hold themselves back from the following mentalities:

1. Not believing in yourself.
The biggest thing holding you back from becoming successful it’s the fact that you don’t believe in yourself. Instead of second-guessing every move you make, trust your gut and go with your intuition instead of waiting for insights from those around you.

As Dale Carnegie once said, “Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.”

2. Doing everything yourself.
Despite wearing multiple hats and being a jack of all trades, it’s impossible to do everything on your own. Let’s say that you just launched a startup. You need to hire talented individuals who enhance your strengths and pick up the slack in your weaker areas.

Learn how to outsource and delegate the tasks that you’re not familiar with or aren’t as strong in. This is one of the secrets that entrepreneurs rarely tell you, but it’s essential if you want your business to grow.

3. Spending everything you make.
It’s tempting to go out and buy a luxury car after receiving a six-figure check. The thing is, wealthy people know how to live below their means, as opposed to spending everything that they just made. Many wealthy people, such as Warren Buffett, live in modest homes and drive practical cars.

4. Setting unrealistic expectations.
While the wealthy definitely dream big, they also set realistic expectations. They’re well aware that they’re not going to become millionaires overnight. It takes a lot of hard work and patience to achieve their goals.

As any marathon runner will tell you, you can’t expect to run 26 miles without the proper training and conditioning. Review the progress you’ve already made and where you’re headed.

5. Spending time with the wrong people.
The rich don’t waste their time by associating with the wrong crowd. I’m talking about the naysayers and negative people who keep telling you that you can’t achieve your dreams, or the people who are using your success to their advantage.

Instead, the rich spend time with like-minded people who are driven, passionate and thinking about how amazing their future is going to be. They are always building their brand.

6. Relying too much on plastic.
Credit cards can be useful if you need to build your credit or invest in your business as long as you’re smart with how you use them. It’s incredibly easy to get yourself into credit card debt. That means that instead of making wise investments or putting money into your business, you’re busy paying off your credit card bills with those high interest rates.

7. Not planning for the long run.
The wealthy have a knack for always looking toward and planning for the future. They know where they want to go and what it will take for them to achieve success. This allows them to anticipate any obstacles and have a plan in place to handle those challenges.

If you are starting a new business venture, you need to have a long-term plan that addresses how to attract and retain clients and customers and outlines how you’re different from the competition.

If you have any or all of the above mentalities, don’t let it stand between you and your first million.

Amazing Custom Bobblehead Dolls

Many bobblehead enthusiasts are curious regarding the way a custom bobblehead doll is produced and why it always takes days to create one. At an advanced, you will find four steps including in developing a custom bobblehead doll: toning, molding, sprucing up, and painting, excluding both the preparation work and final shipping. Prior to getting into particulars of every step, it’s worth mentioning that the process referred to is perfect for the resin-based bobblehead. For more information about custom bobblehead, visit our website today.

1. Toning (Under each day to seven business days)

This task needs a mastery of hands toning abilities. It is almost always made by skilled artists, who normally have experience doing hands toning according to provided photos or reference objects. It might take four to five hrs for any very experienced artist to shape a 7-inch bobblehead, while for any less experienced artist it might take greater than a couple of days. Once the initial toning is completed, the consumer may have the chance to examine its photos. Making changes is comparatively simple and fast at this time. On the other hands, it will likely be more pricey to request a big change in a later stage because the whole sculpture must be reconstructed. Therefore, someone need to look at the initial sculpture carefully when the bobblehead maker is requesting comments. If you aren’t sure, you should request for additional photos or request for clarification. By doing that, you may take more time upfront, but you may also minimize your possibility of requiring to possess the bobblehead reworked later and needing to pay more. Also, the customer must be aware that the custom bobblehead doll is produced according to posted photos as opposed to a live individual. Therefore, the expectation ought to be set correctly regarding the resemblance and facial expression of the final bobblehead doll.

2. Molding (7-10 business days)

Molding is the process throughout which the initial sculpture from the previous process will be utilized for basics to construct the profile and curvatures of the bobblehead’s body and mind. First, a semi-liquid silicone gel will be relevant to the the surface of the initial sculpture. A gentle silicone coating that can take the form of the bobblehead profile is going to be created once the gel dries. Then, a plaster coating is going to be put on the the surface of the silicone coating. The plaster coating will end up a hardened cast after the drying out process. Subsequently, the initial sculpture is going to be removed of the silicone coating. After the preparation jobs are done, melted resin is going to be injected into the purged silicone coating to create the bobblehead. Since the silicone coating is soft, the plaster cast wrapping the silicone coat will act to help keep the resin in the preferred shape prior to it being hard. Once the resin becomes solid, it will likely be removed by opening the plaster and peeling off the silicone coating. Right now, a raw bobblehead doll continues to be produced.

3. Sprucing up (1 to 3 business days)

A raw bobblehead isn’t prepared to be colored. It’s grease on its surface that should be removed, and rough surfaces that should be ground smooth. Neglecting the sprucing up process will result in poor painting afterwards. Sprucing up a bobblehead doll also needs a decent degree of craftsmanship. Because its shape and curvature aren’t the same as someone to another, this method still can’t be standardized and automatic. In accessory for getting rid of the grease and removing the surface, refining the raw bobblehead particulars by hand might be necessary. Due to specifications stemming from the molding process, deviation from the initial toning is inevitable. The toning artist frequently must fine-tune the raw bobblehead after the initial sprucing up, which process might need to be reiterated. If it’s figured that the defects can’t be fixed, the whole raw bobblehead must be scrapped.

4. Painting (1 to 3 business days)

Painting isn’t as simple as it seems to become. The initial step is to merge base colors to produce colors the customers desire. The quality of the combined colors is crucial, as it features a large effect on the aesthetic facet of the bobblehead. Also, because every bobblehead might have its colors, simply making the preferred colors rich in quality for every unique bobblehead can be quite time-consuming. Next, painting is completed by utilizing the painting brush by hand, because of the small painting areas and sophisticated surface curvatures. Furthermore, clients frequently request to produce different designs on their own clothing. In such cases, the painting artists is going to be needed to alternate different painting brushes on individuals small areas, that is a demanding task. Once offers are put on a bobblehead doll for its mind and the body, it may be put together using a spring with glue on finishes. Clearly, using the spring is the reason why the bobblehead doll bobble. Are you looking for a unique gift idea? Visit custom bobbleheads for the best creative gift ideas ever.

Hopefully, right now, whomever finishes reading through the above has already established a much better knowledge of the fundamental procedure for creating a custom bobblehead doll. Having a better knowledge of the process, someone can better plan their next acquisition of a custom bobblehead doll.

How to Sell on Instagram – 6 Tips that Actually Work

Learning how to sell on Instagram offers businesses of all sizes incredible opportunities to reach their target audience and drive sales.

In September 2017, Instagram announced their business community has grown to two million advertisers, up from one million advertisers back in March.

From major brands to local mom-and-pop shops, businesses around the world are driving proven results with Instagram. According to a recent report, 75 percent of Instagram users take action, such as visiting a website or making a purchase, after looking at Instagram ads!

1) Optimize Your Instagram Business Profile

Instagram profiles are becoming the new homepage, as more and more consumers are turning to Instagram instead of Google to search for brands. This means you should be spending as much time and effort curating a beautifully-designed Instagram feed as you would creating your website.

Your Instagram Business profile should include:

  • Profile photo: Choose a photo that is on-brand (like a logo) which makes your company easy to identify.
  • A Well-Crafted Bio: Your bio should include a clear description of your business that speaks to your audience. Let them know exactly what you have to offer.
  • Link to shop: The URL section of your bio is the only clickable link you can add to your Instagram page – so make sure you’re using it! This is a great place to drive traffic from your individual posts and Stories. Creating a unique URL for this section will also give you the opportunity to track visits to your website from Instagram!
  • 2) Using Instagram Ads to Reach Your Target Audience

    With continued changes to the Instagram algorithm and heightened competition to have your content be seen, Instagram ads will become a critical part of Instagram marketing strategy for businesses.

    Once you’ve set up a Business profile on Instagram, you can then decide how much you want spend, where you’d like the ad to be seen and how long you want to run it for. Instagram allows businesses a variety of targeting options to best suit your businesses needs.

    Running your own Instagram ad campaign isn’t that difficult, but it can be intimidating to many small business owners and influencers who haven’t done it before.

    Fortunately, it’s not as hard as you think! The easiest way to run ads is by promoting posts you’ve shared on Instagram. Just select the post you want to boost, then hit the “promote” button once it’s posted.

    Instagram will automatically pull in a “similar audience” that you can share the post to, or you can easily create your own audience in the app by choosing an interest, age range, and the genders you want to promote to.

    Once you’ve set up your audience and budget, make sure to give your ad one last look over before hitting “Confirm.”

    You can start with a small budget and run your ad for a few days to test things out. To track how your ad is performing, click “View Results” in the bottom left corner of your ad. Remember, Instagram Ads can take practice, so make sure you continue to tweak your boosted posts and audiences until you get the results you want!

    The best Instagram ads for driving ecommerce sales includes messaging that clearly explains how to make a purchase.

    Take @thebouqsco for example. In the example below, they use the call-to-action “Shop Now and save” in the caption followed by a short description of the offer. They also use “Shop Now” as a call-to-action for the button to to encourage users to make the purchase.

    Basically, The Bouqs Co. simplifies the buying process. The ad makes it super clear what they are offering without any extra distraction. It’s important you keep your messaging simple, not to distract users from the goal of your post.

    How to Sell on Instagram with Instagram Stories Ads

    In March 2017, Instagram released advertising in Stories, offering brands yet another paid opportunity to reach more people. These immersive, full screen ads lets your business use targeting and reach capabilities that make your ads personally relevant to the people you want to reach.

    While photo ads will likely retain their top spot well into 2018, statistics show that Instagram Stories ads will see the most growth. In fact, “30% of businesses plan to create Instagram Stories ads in 2018, while only 8% did in 2017”.

    These ads pop up in between Instagram Stories of accounts you follow and can make a large impact on potential customers:

    You’ll notice a small “Sponsored” tag in the top right corner and a Call-To-Action (“Learn More”) at the bottom of these ads. Again, adding an additional call-to-action at the bottom of your ad can also be helpful for those interested in learning more.

    You have a choice in Instagram Ads to create either a video or a photo. Whichever you choose, make sure your initial clip is attention-grabbing. You’ll need to catch the eyes of those who quickly tap through stories.

    Instagram Stories have become a great way for businesses to make deeper connections with their followers and show off their brand’s personality. In 2017 Instagram reported “one in five stories on Instagram gets a direct message from its viewers.” Instagram Stories offer you chance to connect with their followers on a daily basis, without cluttering up your feed. Make sure you’re not missing out on this great opportunity to connect with future customers!

    3) Creating Instagram Stories With Product Links

    Instagram Stories is exploding in popularity, and the feature has over 300 million daily active users, more than double Snapchat! As Instagram Stories continues to grow in popularity, it’s no surprise businesses are continuing to find new and creative ways they can sell using this feature.

    Instagram Stories is the perfect opportunity for businesses to engage with audiences on a more frequent and personal basis. Many brands use Instagram Stories to capture their products in action, promote special offers or showcase new items.

    In 2017, Instagram graced users with 10,000 followers or more the ability to add links to Instagram Stories, which was great news for retail brands and publishers. This is a huge Instagram trend right now, and can help you grow your email list, sell products, drive traffic, and more.

    When adding a link to Instagram Stories, you’ll notice a small arrow and “See More” text appear at the bottom of your image. Since this small text may be unnoticed, you can add text directing users to “Swipe Up” for added visibility.

    The Instagram algorithm now takes into account all the interactions you receive on your Instagram Stories as well, such as replies or when your stories are sent to someone.

    The more that a user interacts with your Instagram Stories, the more likely your posts will show up in their feed.

    A great Instagram hack to get around the algorithm is to take advantage of Instagram Stories engagement opportunities, including the polling feature or “Swipe Up” option (if you have over 10k followers).

    We’ve also been seeing a lot of micro-influencers telling their followers to “DM me for a direct link to this product!” which is a great way to drive people to your inbox, build relationships with your followers, and ultimately increase the chance of your posts showing up on their feed.

    These are all great tactics to drive your customers to engage with your brand and a way to make sure you stay “top of mind” with your audience.

    4) Building a Shoppable Instagram Feed

    This year you can also expect to see more of Instagram and Shopify’s new shopping feature integration, as it’s set to be released to Shopify’s wider user base in 2018!

    According to Shopify and TechCrunch, “Instagram is already a ‘significant’ driver of Shopify merchant store traffic, so being able to convert said traffic right on the platform instead of round-tripping could result in a big boost of additional sales.”

    Instagram’s shopping feature allows businesses to tag products that are available for sale, and then let users purchase them directly within the app. Instagram product tagging is currently in testing and only available to an initial group of Shopify businesses however once the test phase is complete, this feature will be available to everyone.

    Shopify plugins like Shoppable Instagram Galleries makes it easier than ever for your business to make sales. Their Instant Purchases feature lets visitors add to cart and buy the liked items directly from images on your feed! Businesses can create a custom gallery to showcase their products, then simply add the gallery’s link to their Instagram profile bio.

    Creating a shoppable Instagram feed like Later’s Linkin.bio feature is a popular strategy for businesses looking to drive sales through Instagram.

    Here you can see @meundies custom URL in their bio, where they can direct users through post captions and Instagram stories:

    Linkin.bio is a landing page that resembles your Instagram feed and displays your posts as clickable images that you can link directly to a product page. This makes it easy to build a clickable, shoppable feed that links your audience straight to your content. You can also link to multiple websites and and pages, all without changing the link in your bio:

    When one of your followers clicks on the link in your bio, they’ll be taken to a web and mobile-optimized landing page that resembles your Instagram feed and displays your Instagram posts as clickable images. When your followers visit your Linkin.bio page, they can click on any of your Instagram posts to visit the product page that your photo is about.

    5) Offering Instagram-Only Promotions

    Shoppers love a good sale or promotion. Instagram is the perfect place to promote a sale, new product launch or discount code exclusively to your followers. You can either add your promo information in a caption or in Instagram Stories, encouraging users to click the link in your bio to take advantage of the offer.

    If you’re running an Instagram-exclusive promotion, you also can create a teaser on your other social networks to drive traffic to your Instagram business profile. Promoting exclusive Instagram-only promotions (for example, a special discount code for your followers) among your other social networks will encourage audiences to follow your Instagram account to make sure they don’t miss out on future offers.

    6) Establish Partnerships with Instagram Influencers

    Instagram influencers continue to be a hot topic as collaborations and sponsorships have nearly replaced traditional ads and are a huge part of a social media strategies today. Consumers today don’t trust traditional advertising — they trust people. Recent research from Nielsen shows that consumers trust personal recommendations above brand advertisements.

    The easier it is for a customer to picture themselves using your product, the easier it will be to sell to them.

    Influencer marketing gives brands a unique opportunity to reach a niche and engaged audience.

    Although it may initially seem like a risk to invest large amounts of money into influencer marketing, it’s important to consider exactly what you are paying for.

    Consider advertisers that spend upwards of $5 million (excluding production costs) for a 30-second Super Bowl commercial to reach more than 100 million viewers — who may or may not be the brand’s target audience. A series of Instagram posts by a fashion blogger with 500,000 followers and a cult-following, could sell out an entire product line within 24 hours.

    If you don’t have the budget to partner with a big influencer, consider finding a micro-influencer. These influencers have a significant, but not massive following, usually ranging anywhere from 1,000 to 100,000 followers. Micro-influencers are typically much more willing to do an “in-kind” agreement, trading product for promotion. If you’re a small business, investing in micro-influencers could be a great way to help drive potential customers to your page.

    79% of businesses rank engagement as the most important factor when evaluating who is an ideal influencer, followed by quality of followers (70%) and industry or niche (67%).

    It’s important you spend more time thinking about your strategy and campaign goals before getting started on your influencer marketing campaign. Setting up crystal clear goals will drive initial planning decisions and help you determine the best fit for your partnership.

    While working with an influencer, it’s important to make the paid partnership feel as natural as possible. Sitting an influencer in a chair to talk about how great your product is will likely come off as an advertisement and will quickly lose your viewer’s attention.

    For example, lifestyle blogger Jacey Durprie’s latest partnership with Biossance aligns perfectly with her brand, as she frequently shows off her morning routine and favorite products. She keeps it conversational, asking her followers their favorite “beauty hacks” and shares one of her own:

    The partnership feels very natural, without looking like a typical advertisement.

    Whichever route you chose, influencer marketing is here to stay. Influencer marketing is a great way for you to tap into a niche and engaged audience, to build brand awareness and most importantly, drive sales.

    Figuring out how to sell on Instagram will take some practice in order to determine what methods work best for your business.

    By
    Matt Smith

    Matt Smith, is the founder of Later an Instagram marketing and post scheduling platform. Smith had previously founded several startups including online course platform Thinkific.

    10 Habits of Self-Made Millionaires

    These are the 10 nuggets of gold – Habits of Self-Made Millionaires. Statistics show that these are the common straits of such people, regardless of whether they are born rich or poor. What sets millionaires apart from the average people? Were they born into the right family? Did they strike the lottery? Research shows that they have these traits in common.

    1) Thinking in Abundance

    There is no shortage of money on this planet, only a shortage of people who think correctly. As you are reading this, there is $2.3 TRILLION dollars circulating around the globe everyday, and that amount is destined to grow throughout time!

    2) Surround Yourself with Like-Minded Individuals

    You are the sum of 5 people you spend the most of your time with. As the risk of being portrayed as arrogant, rich and successful people value their network of friends, because rich people build rich networks!

    3) Shift Focus from Spending Money to Making Money

    Instead of becoming a consumer, become a producer. Instead of buying more, sell more. Instead of attending seminars, host seminars. Instead of buying books, sell books. You get the idea. Not that there is anything wrong with consuming, it is simply that rich people produce more than they consume.

    4) No TV

    Did you know why you don’t see ads on Lamborghini on TV? It is because the people who can afford them don’t waste time sitting on the couch!

    5) Multiple Streams of Income

    The rich people have multiple streams of income and don’t just depend on one. Income streams could be from property rentals, investment in stocks, royalties from book authoring, full time jobs, side hustling, hosting webinars, etc.

    6) Be Generous

    The truly rich people think about serving others and giving back to the community. The currency of real networking is not greed but generosity.

    7) Have an Exit Strategy

    Everytime you hear someone become a success overnight, it is backed by effort and turmoil. Ultimately, all the multi-millionaires and billionaires get their break when they sell their business away – which is actually the ultimate exit strategy. Whatsapp was started in 2009 and sold for $19 BILLION in 2014!

    8) Get into Properties

    This is the most time tested vehicle to creating and protecting your wealth since centuries ago. If you really don’t know what to do with the excess of your money, you cannot go wrong putting them in properties.

    9) Leaders are Readers

    For the rich and successful, learning never stops even after graduation.

    10) Always be Hustling

    All the tips, tricks and trade secrets won’t amount to anything if you just sit around and do nothing. As you see, successful people are not necessarily smarter or more talented. They simply hustle or work more even when the going gets tough.

    Going Down South

    By next week, I shall be going down south to Kuala Lumpur again, the capital city of Malaysia, for business. My job is rather easy peasy. Just guide my colleague using the Waze GPS to the client’s place and back to our condo in Rhythm Avenue or USJ 19 Digital Mall. Like Penang Times Square, it has several eateries downstairs on the ground floor with a premier Chinese Restaurant on the second floor and a Post Office on the third floor. There is also DIY shop on the first floor and Burger King, Sushi Mentari, Kayu Manis, etc. Later this morning, youngest sis will fetch me at around 7:35 am to help wheel dad from the hospital to the nursing home in a bungalow.