Automation of business is the goal of most entrepreneurs. But even if you have already carefully organized all the processes, they may become outdated in course of time. So it is necessary from time to time to check that you are moving in the right direction. We offer you the key indicators that should definitely be used to analyze the efficiency of your online business.
1. Sales volume
This indicator will either give you a chance to relax, or show that your business have a “hole” somewhere. And the sooner you’ll determine where the leak is, the faster you will be able to solve the problem.
Check the efficiency of sales and create a report for yourself – it should be done monthly, quarterly and annually. Of course, you are a very busy person and you have so many things to do. But this analysis is really important, because you will see how productively you work and how close is your goal.
Important: do not forget to check where your clients came from. So you will see the most efficient channel of attracting customers. As a result, you will be able to determine where ads work best and where you need to work on mistakes. This can be done with the help of Google Analytics:
- Select “Conversions”;
- then – “Multi‐Channel Funnels”;
- and finally – “Top Conversion Paths”.
Look at the data. For example, if the social networks give minimum conversion rate – so it’s worth to spend more time promoting in social networks.
2. The effectiveness of email‐campaigns
The size and quality of the mailing list can reveal a lot about your business. You should check how many:
- emails were opened;
- links were clicked;
- people bought the product through emails;
- delivery errors;
These data can be analyzed with the help of many services such as AWeber – a simplified online tool for email‐marketing.
3. Keywords performance
If you want your customers to find your website in the search, you need to choose correct keywords. How to select them? Use Google Keyword Planner. Tip: don’t use hundreds of keywords just because you want to attract more visitors to your website. There’s no sense in huge traffic if it’s made of non‐targeted audience – in this case you’ll have high bounce rate.
For example, if you sell women’s leather shoes, the key phrase is “women’s leather shoes”. Do not throw separately the word “shoes” or “leather shoes”. So your website may be visited by men who are looking for leather shoes. As a result, the visitor will leave immediately, and you will pay for a click with nothing in return.
4. Social interaction
A big part of your audience is concentrated in social networks. Therefore be sure to check the quality of your interaction. So you will understand how accurately and correctly you promote your brand.
Social interaction includes:
- the quantity of subscribers;
You can use various services for the analysis. For example, Socialbakers. It gives the opportunity to explore many social channels.
The success of your business depends only on you. So it’s important to monitor and verify each step. Now you know exactly which indicators you have to control. Check them out and you will be able to see any problem in advance, in order to prevent it.
Or you can write to SoftwareGarage. Our experts will carry out full analytics of the efficiency of your business and give recommendations for improvement of marketing indicators.
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