Having a
business online can be tough and hard at times. You should be able to
know what is working and what is not for your website. To be able to do
this, focusing on key performance indicators of your business to meet
your goals and surpass them becomes necessary.
However, there are
different priorities depending on different businesses. Here are some of
the common business indicators you can check to see the progress of
your online endeavors.
Monthly, Quarterly, and Annual Sales
One
of the things that you should always check is your monthly, quarterly
and annual sales together with the breakdown of the channels where these
came from.
Keeping a scorecard of your earnings allows you to see
the trend that your business have depending on the month and the
season. Being able to do so allows you to apply marketing strategies
that will help improve the current performance that your products do
according to this metric.
Email list activity
The
size and quality of your email list can reveal more details about your
business. This does not only include the increase of subscribers that
your website gets. You should also consider getting the data on the open
rate, bounce rate, purchase rate and click through rates of your
current subscribers. Doing so allows you to discover rooms for
improvement, new techniques and marketing ideas that will help you
improve.
Advertising costs
Knowing which of
your advertising efforts work and which does not allows you to invest
your resources to the methods that work and converts. If you do not know
if your investment for traffic and customer acquisition is working, you
might not get the exact cost to acquire your customers making you risk a
huge amount of money in advertising.
Traffic sources
Tracking
your sales is important as well as tracking where this traffic comes
from. This will help you deviates your marketing efforts to the traffic
that converts for your business. Organizing and structuring these data
helps you introduce new strategies accordingly.
Again, posting
valuable content and improving in your link building strategies helps in
driving traffic and converting sales for your brand. However, it is
also essential to get raw data on how you are performing as you apply
your campaigns to be able to adjust accordingly on where you can improve
and where you can get more conversations. Monitoring these performance
indicators also helps you in seizing new opportunities that you may fail
to see due to the lack of data for such factors that is affecting your
business.
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