Based on whom will the KPIs be evaluated?

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Using the funnel alone without a direct comparison to your competitors doesn't mean much: if you have a 1% purchase conversion rate, is that a positive or negative indicator of business performance?
That's right. Conversion rates vary not only by industry, but also by country, season, device, and many other factors. For example, according to IRP Commerce, the average conversion rate in December 2020 was 3.79% for the arts and crafts industry and 0.99% for the baby and children industry.


This chart shows recent conversion rates across various industries. Based on data from IRP Commerce. Source .
So the value of the metric itself isn't relevant, but comparing it to others can give you a better idea of ​​where you stand among your competitors and how well your ecommerce business is doing.

For example, Amazon's conversion rate is 13%, which is bolivia telegram database about seven times the industry average, and even within the same industry, there are differences in conversion rates between e-commerce shops aimed at younger customers and those aimed at older customers.
To do this, you need to keep abreast of industry trends, but whenever possible, aim to develop reasonable KPIs (key performance indicators) by comparing them with companies with similar market share.

This will help you decide which areas to focus your marketing strategy on.
Focus on the stage where you lose the most leads
Identifying where you're losing the most customers compared to your benchmarks will give you a solid indication of where to focus your marketing efforts.