As we begin the count down to the end of the year, are you reviewing, or, have you reviewed where you’re at in your business, e.g. tracked your business growth?
If you have, did you accomplish what you set out to accomplish?
One thing that leads to business success that I know for sure, is that you have to focus on data, whether it’s data on who you serve, what you serve (product/service), client/customer acquisition and retention, income and expenditure, etc. By recording data, you can see what’s working, what isn’t, and what trends emerge. This will allow you work efficiently and spend your time and money effectively.
By recording data, you can see what’s working, what isn’t, and what trends emerge.
You also need to show up, stay committed and remain true to your brand, from the style and tone, to the content that you produce and share.
Four of the things I record that I will review and tweak, so I can achieve my goals (or, get close to, maybe even exceed), by the end of the year, are traffic, subscriber list, clients/customers and income and expenditure, because…
Traffic is essential to expand your reach. That means continuously getting more people to your website, engaging and encouraging them to read your content. A few things to keep track of are total and unique visitors, bounce rate, and, of course, where there’re coming from.
Subscriber List – building your subscriber list is an ongoing effort. Your goal should always be to get people to join your list and naturally, you have to keep them engaged and informed. To see if you’re doing a good job, track the total number of your subscribers, conversion rates for each of your opt-in forms and pages, email open rates, and also how many people unsubscribe. As you start to collect and review this data regularly, you’ll learn more about your subscribers and how to best serve them.
Clients/customers – Subscribers are great, client/customers are better. So, keep track also of how many clients/customers you have – how many products/services you sell a day, week, and month. Other numbers to look at are, total lifetime value of your average customer, repeat purchases, and refund rates.
Income & Expenditure – Review your income, as well as your expenses. These two sets of numbers allow you to easily calculate your overall profit. You could review your profit on a monthly basis, but it’s recommended that you track your income on a daily basis.
You can view most of this data using tools such as, Google Analytics, your shopping cart, and your autoresponder service, for instance. However, if you have it all in a central place, it’s easier to connect the dots and see the relationships between the different sets of numbers.
For example, you can type it into a word document, or use a spreadsheet. I recommend the latter, because you’ll have the option to have it calculate additional information, such as, weekly and monthly averages and even map it all out in graphics.
Make it a habit to review your data regularly to see what’s working and what isn’t. Doing so will enable you to have a clear picture of whether your business is growing, as you move through each month and years.
– Do you keep tabs on the above?
– What system do you use?
– Have you set goals for what you want to achieve in your business by the end of the year?
I’d love for you to share. Please do in the comment box below.
© Cherry-Ann Carew
Cherry-Ann Carew is an Online Business Strategist & Amazon multi-bestselling author. She supports emerging business owners simplify their start-up journey, by customizing a business framework that aligns with their vision and goals, so that they can earn uncapped income and live life on their terms.