Useful metrics that every business needs to follow

As the world around us changes and technology shapes almost every process, there are still certain elements that require a degree of trial and error. A prime example of this is marketing initiatives such as developing a mobile app. If a business owner is not equipped with the right information to guide decisions, even the best marketing strategies can fail. However, it is still odd to see that many businesses around the globe are still relying on assumptions rather than facts to shape their decisions. A successful marketing strategy should be flexible, adaptable and evolve with the passage of time.

With that being said, the focus of todays blog is to highlight some of the useful metrics that businesses should analyse in order to understand their marketing strategy. Let’s find out more below…

• Social element

One of the best ways to engage with customers is to give them information that can be easily digested and shared with others. Before a business embarks on a marketing strategy they need to be sure that the message is valuable to the designated audience. For example, a business can assess how many social shares their content has received and whether it has been shared with many or a few customers. A prime example could be loyalty initiatives a business carries out, are these being shared amongst customers? Does it result in more business?

• Traffic

Following on from the point above, an effective marketing strategy helps businesses boost the footfall and traffic they generate. Some useful metrics that a business may wish to measure include unique visitors per day/week/month and compare this with past data. By understanding the pattern of customers, a business can judge whether their marketing activities are boosting their business.

• Lead generation

By having a clear sales process and understanding how leads are filtered through this process can be valuable in helping businesses assess their strategy. For example, it focuses businesses to review their processes and also highlights potential clients that are more likely to convert than others. Furthermore, any successful marketing strategy should result in more quality leads being generated and this should be compared to past campaigns to see how the business is progressing.

• Conversion rates

One of the most powerful metrics that any business can measure is their conversion rate. For example, an Eazi-Apps partner that helps businesses develop a mobile strategy can analyse how many meetings attended have resulted in a new client being won. By constantly analysing and modifying conversion rates, any business owner can modify their marketing strategy to boost their return.

• Team performance

Assessing the individual performance of team members can also reveal valuable insights into how a businesses strategy is progressing. For example, analysing sales data for individual salesman can help business owners identify colleagues that need further help, guidance and training to improve their performance.

As we have seen, there are a number of metrics that can be measured by business owners to measure the effectiveness of their marketing activities. To find out more please contact the Eazi-Apps team today.