Measuring success of your business

If you don’t have the correct methods in place, it can often be difficult to know where your

If you don’t have the correct methods in place, it can often be difficult to know where your business stands. Yes you will obviously have figures there, but are they new customers, existing customers? You can only find that out if you have measures in place to monitor it properly.

Traffic

Measuring success on your website is an absolute must. The use of Google Analytics will do you wonders if you have your website set up with this. It can indicate how many people have viewed your website, how they viewed your website, how long they viewed your website for etc.

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This can help analyse your marketing campaigns and see if your website was accessed through online campaigns, which can help you determine what you’re doing right and what you need to change. It’s a great platform to measure success because then you know if you are or aren’t doing something right.

Retention

Are your customers making more purchases from you? If not, then you know that something isn’t going well because they’re not coming back to you. You want to grow your business by keeping customers and gaining new ones at the same time. The best way to do this is to keep in contact with customers so you build that close relationship; otherwise if you rarely have any contact with them it can come across as you don’t really care about the relationship. Maintaining a relationship with customers can help you retain them.

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New enquiries

Are you getting noticed and receiving enquiries for your product/service? Usually there is an enquiries box on the website where people can submit an email to the business in which they will receive. If you don’t get a lot of them, then maybe you need to think about methods of getting noticed so that you get more enquiries.

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The more you put yourself out there (mainly online) the more people are going to recognize that your business exists the more inclined they are to have a look at what you have to offer!

Number of staff/team members

When a business starts up then obviously they’ll have the bare minimum of a team, but say in one year you need or have recruited more staff then it’s obvious that you’re doing great! It’s pretty obvious to know if the business is doing well, if you don’t know it then maybe you should be made aware of it!

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