Business Coach for Visionaries
Helping your scale your online business
Season 2, Ep. 004: The Numbers You Need to Know
Filed under Podcast
January 9, 2020
In this episode:
We will discuss the numbers I encourage you to track in your online business.
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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)
- Use information to set goals
- Gross Profit (Revenue – Cost of Goods Sold)
- Average Profit Margin: Gross Profit/Revenue
- Client Acquisition Cost: Cost spent on Acquiring them/# of clients acquired
- Referrals (where coming from)
- List Growth Rate: New Subs – Unsubs/ Total Subscribers x 100
- Open Rate: opens/total sent x 100
- Click Rate: clicks/opens x 100
Instagram (Grid, Stories, IGTV, Ads), Facebook (Page, Group, Ads), Pinterest, Youtube, LinkedIn,
- Growth: Followers
- Engagement: Views, Comments, Likes, Mentions, Shares, Saves
- Discovery: Reach + Impressions, Interactions (Overall and per post: Profile Visits, Website Clicks)
Churn Rate: total customers – # at end of month/#of beg. Of month x 100
# attracting from each Traffic source
Conversion Rate: Total visitors/# of conversions