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.
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.
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.