Look, this won’t apply to 100% of businesses who solving unique problems to unique audiences. But, paying attention to these 3 performance indicators will help keep you from spinning out of control.
You should be automating reports that are sent to you on a daily basis that feed you traffic figures for your platforms. Here you are just making sure there’s nothing on fire. Feeding this data into data studio, or another BI tool, will allow you to plot these on a graph and let you see daily results.
Try segmenting your data into different sources. Look at the difference between paid and organic, and think about breaking out your paid traffic into the different mediums where you are driving the traffic from. Seeing this data will be your first line of defense when something goes wrong to let you see what needs attention.
The next KPI you need to be measuring every day is your conversion rate. You can drill down to pretty in-depth levels of reporting here and get conversion numbers at a granular level, but at the end of the day, you need to be tracking this on a daily basis. If you see a major drop, you need to ask why it’s happening. It could be related to poor traffic, changes you’ve made to your website, content that’s not engaging, or any other factor that would raise a flag. But tracking conversions at a high level will be a good indicator that something needs attention.
Consider breaking conversions out into multiple levels. At the end of the day, your job is dependent on sales, so tracking sales is a key factor. But you don’t have control over whether or not a user buys. Instead, think higher up the funnel. How many users are you converting at the upper section of the funnel? How many email signups are you getting, are you seeing a drop in webinar/seminar signups? Making adjustments to these steps will result to the later factors being fixed naturally.
Keeping a close eye on click your CTR is a must, on a daily basis. Feeding your data through to a BI tool to visualize this can help, immensely. This can also be an early indicator that something needs attention. The novice response when you see less traffic would be to create new ads, increase ad spend, and sit back and wait. But this is like trying to drive uphill in mud. You’re expending a huge amount of time and money hoping it works out.
This goes for email, social, ads, and even your website. You’ll want to break these down and be able to see individual results. But combining all the numbers will be a good “alarm” to let you monitor these factors from a high level.
Setting up a good BI tool to let you see these stats will save you a ton of time. DataStudio is a great, easy to use tool that will let you connect a bunch of different platforms and get you moving down the road. Oh, and it’s FREE! There’s a lot to say for that!
If you need help getting an automated reporting process setup, I’d love to help you get started! Just give me a shout.