KPI in the online sales
The lecture is intended for online sales managers, board members and directors, all those who have the opportunity to manage processes and who love numbers!
Imagine your business year as a car race. We have a track that we must pass with the best lap time, we have a race-car and a team that participates in the preparation of the car, forecast monitoring and all the deciding factors that may affect the ride, the team that changes the parts in the pitstop... The best team is the one in which each of the individuals is a specialist in his/her area and clearly knows their role on the team, thus doing the right thing at the right time with the other members of the team. Just one weak link can cause the loss of a podium place. In online business we usually have the: marketing department, website maintenance department, customer service department, the products department.
The race has a lot of rounds, and each round measures lap time at several places: a lap time, pit stop time when changing tires, lap time compared to the fastest lap...
In the same way, we can set the measuring spots in online businesses so that we can get better results.
On the market today, you can find many sophisticated tools for very precise measurements of all and even the smallest parts of the online sales process. Yet, it is not important for Management to knows each tool precisely, because they will leave it to specialists. What is important for Management, is to know key indicators that help to identify in time that our average speed during the race is decreasing and to figure out in time what needs to change to make the car race again at the desired speed.
In this lecture you will learn:
- How to easily calculate key performance indicators (KPI)?
- What are the key links in the process of online sales?
- What are the financial consequences when one link weakens?
- What can affect the link to strengthen or weaken?
- What is broker's marketing?
By applying this method of monitoring, you can find out at any time which links perform better than in the previous period, and which have been weakened. With this approach you will be able to focus your energy on solving the real problem at the right place, while the other teams working in the online sales process continue to operate smoothly.
There is not one team building that can create a team! A team has to be built constantly based on creating trust between different specialists, who by well synchronized work, have a reason to celebrate at the end of the year.
A successful manager knows to set up an effective system for monitoring the performance of each department and allowing him in that way to wisely manage resources and take the company up to the podium.
What can you expect at this lecture?
Several figures, a little math, a few tables, a lot of logic and a handful of examples from the experience of working on the international market with many different types of tourism services that are sold online.
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Session by Sanja Trbojević