Monitoring your small business’ analytics doesn’t have to be as complicated as it sounds. There are key factors that you should be paying close attention to, and this will ensure that you are able to know what is working and what is not. The first step is to track your data, if you’re not already. You want to track as much data as you can regarding customers and transactions. This will help you to better read your analytics and know what to do when it comes to your business’ next steps.
Source of Traffic
Which marketing tactics are working, and which aren’t? This is important to track so you’re able to better understand where your marketing money is going, and if it’s coming back. You shouldn’t be spending money where it’s not working for you, and you’ll want to know what is working so you’re able to put your marketing budget there. Checking your source of traffic is the most effective way of knowing where your marketing dollars should be spent.
Repeat Business
If you’re not bringing customers back through the door, why not? Each time a customer leaves you for a competitor, you are forfeiting that money to them. You should be tracking how often your customers are repeat, rather than one-time. Doing so will help you to understand how much money you’re losing by losing customers, and also what you’re doing right that is keeping them coming back through your door. You’ll better understand what you should be doing with your one-time customers when you know why your repeat customers are using you frequently.
Engagement
Tracking how frequently you’re engaging with your customers, and what content is catching their attention is key to knowing how to continue with your engagement. Knowing what is attracting your customers will help you when it comes to future engagement. Pay close attention to the content and images that are attracting the most views and clicks, with your emails. Pay attention to what content is capturing the most responses with your text messages. Another aspect of engagement that you’ll want to track is the frequency. Are you engaging enough? Too much? Have you forgotten to engage for a few months? You’ll be able to answer all these questions and find out what’s working when you track your data!
Top Products/Services
This is a big one! Which of your products or services are people most interested in? Knowing your top products and biggest money makers is how you’ll know what to market and what to focus your strengths on. This can also be helpful if you want to adjust unpopular products so that they better fit the needs of your consumers.
Did you know that FreshLime acquired a small business analytic’s dashboard Dasheroo? It’s true! One data destination for all your Key Performance Indicators like Facebook, Twitter, Google Analytics, MailChimp, etc. What’s even better? You can sign up for free! Check it out here.
For more insights on marketing strategy that actually works for small business, subscribe to the FreshLime Newsletter here. Connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. And last of all, if any of these tips have helped you or if you have anything to add please comment below. We’d love to hear from you!