Providing great customer service and generating sales leads will not be enough to make your business soar. In order to truly succeed you’re going to have to become well informed about the effectiveness of your efforts, earning insider understanding about your business activities.
You’re going to have to measure
In order to understand how effective your marketing undertakings have been, you’re going to have measure.
Metrics are crucial to understanding the effectiveness of your activities and constructing a plan that will help you to bring more clients.
SMART metrics measure specific, measurable, achievable, relevant and time-based targets.
At the beginning of developing your business, you may find it difficult to set SMART metrics because you have no benchmarks yet. But once your activities begin to generate numbers, you’ll have an indication of how you’re doing and what changes need to be made in your plan.
IAnd if you can’t measure the effectiveness of a business activity, swap it for one that can be measured. In other words, don’t undertake any marketing effort that you can’t measure for effectiveness. You’ll be wasting valuable time and money.
What this means is that everything must be recorded: your social media interaction (Twitter, LinkedIn), how much traffic was driven to your site, what specific activity drove the traffic to your site, the outcome of your campaigns, customer referrals - everything. Be diligent in recording the different aspects of your business. It will pay off.
Measure the effectiveness of your business.
Make sure your metrics follow SMART criteria.
Record all actions related to your goals. After your first year in business go back and measure. How did you fare? What worked? What didn’t? Where should you invest more time and money? Where should you invest less?
Make an action plan for your next year based on the metrics of the previous year. This time don’t wait an entire year to measure. Measure at every quarter or six months. How did you fare? Repeat as above.
Google Analytics is a powerful service that can generate detailed statistics about your site’s traffic and its conversion rate to sales.
Buffer will help you schedule content and automatically post it to the channels you select. Its helpful dashboard will enable you to view what posts are getting the most attention.
Written by Liat Behr
Liat is a content wordsmith at WiseStamp and copywriter at Ink of Imagination. She delights in creating and sharing valuable tips and helping businesses craft effective content.
When she’s not writing content, she can be found in the world of fiction, embarking on adventures with her characters.