Season 2, Ep. 004: The Numbers You Need to Know

We talked about what you need to measure to determine how well your company is doing or what is or is not working. These may be different for your company and someone else’s online business, but at least you will continue or begin to track numbers.

Benchmarks (start with your baseline numbers)

• Determine how often to record. Document consistently (weekly, monthly, quarterly, annually)
• Analyze
• Use information to set goals

5 Categories:

Sales

• Revenue
• Gross Profit (Revenue – Cost of Goods Sold)
• Average Profit Margin: Gross Profit/Revenue
• Client Acquisition Cost: Cost spent on Acquiring them/# of clients acquired

Website

• Traffic
• Referrals (where coming from)

Email

• List Growth Rate: New Subs – Unsubs/ Total Subscribers x 100
• Open Rate: opens/total sent x 100
• Click Rate: clicks/opens x 100

Social

Instagram (Grid, Stories, IGTV, Ads), Facebook (Page, Group, Ads), Pinterest, Youtube, LinkedIn,

Podcast

• Growth: Followers
• Engagement: Views, Comments, Likes, Mentions, Shares, Saves
• Discovery: Reach + Impressions, Interactions (Overall and per post: Profile Visits, Website Clicks)

Retention

Churn Rate: total customers – # at end of month/#of beg. Of month x 100

Funnel

# attracting from each Traffic source

Conversion Rate: Total visitors/# of conversions