Top 5 Metrics to Use for Your Business Today!

Learn all about how tracking metrics can help your business.

If you’re a business owner with an online presence you’ve probably heard something about metric tracking… If you’re wondering what that even means, well then you’re in the right place!

I was lucky to have the opportunity to chat with an expert and great friend to MYF, Ellie Rogers, an online business manager, in our Private Members Facebook Group. As an online operational genius, Ellie goes into clients’ businesses and helps them streamline their systems to reduce those pesky pain points for business owners.

One of her favorite things to do for her clients is to analyze metrics, so we are sharing her top metrics you can start analyzing for your business- today!

Business Metrics

Simple Metrics you can track for your business:

  • Time you spend doing tasks for clients. This not only tells you how much to bill them but can also tell you how long it will take to set up processes for them. This helps you understand what kind of time you can expect from someone if you are outsourcing tasks to an employee and if you need to make the task more streamlined and efficient. 

  • Leads to Client Conversion – this is a metric that reflects how well or how easily you are converting people from leads into paying customers. If you’re doing a lot of lead generation and converting in your DMs (or email, phone), you want to make sure that you are tracking those leads.

As you’re going through your DMs, you can try to keep a simple spreadsheet to track and then out of those, see how many have converted into paying customers. It’s such a useful tool to help you understand your baseline, and improve your operations. For example, this may be doing things like testing different kinds of messaging tactics or testing different ways to communicate to your ideal clients, and tracking what the most productive way was. 

Analyzing Business Metrics
  • Monthly Website Traffic- understanding how many people are getting their eyes on your website, and your sales pitch can allow you to understand how wide and deep your reach is. This is a really big one again because it helps us track what we did in a particular month that impacted buyers positively or negatively that have been on our website.
    • Master Your Finances Hot Tip: Track this along with your budget! Did you use ads this month? Did you do two podcasts episodes? How did they come across your website? This will help you understand how your money is converting! My free class will help you with these steps. 

  • Email Marketing Open Rates– How many people are you getting to open and engage with your content? Subject lines can be key! 

  • Email Marketing Click-Through Rates- How many are you getting to check out the link to your sales page and is that converting to a paying client?

 

Ellie was kind enough to share with MYF readers a great special right now on her Leverage Your Launch so go check it out! These are great things to start putting in your business owner toolbox and I’d love to help you even more!

As the owner of Master Your Finances I’m passionate about empowering small business owners to manage their money and lead them to the financial freedom that that brings. If you want to learn more from Master Your Finances check out my free class! We go through 6 things every business owner needs to know when getting started. The lesson lasts about an hour AND (full disclaimer) if you stick through this video to the end, I’ll show you how you can get our Expedite Your Books course valued at $100 for FREE. So what do you think, ready to start? 

Alright, let’s go- see you on the other side!

5 Metrics You Should Track for your Business
Best business metrics for owners to track

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