types of business metrics

5 Key Metrics Every Small Business Owner Must Track

As a business owner, you focus on revenue and sales when you first start out. This is perfectly okay since you want to establish business sustainability before anything else. However, as your business grows, you need to start thinking about other types of performance metrics.  Doing this helps you stay on track and spot potential problems before they get out of hand. Here are the types of business metrics you need to keep an eye on going forward.

1.      Customer Satisfaction

Customer Satisfaction

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The internet has made it easier than ever before to track customer satisfaction. You can use platforms like Foursquare and Yelp to get a clear picture of what your customers think about your establishment. The best part about this is that you usually get an unfiltered opinion about their experience. You are bound to get negative reviews every now and then. For these, you need to take remedial measures to avoid a recurrence. However, don’t fall into the trap of focusing on individual reviews. Look at the overall picture to determine how you’re performing. After all, not everyone will like your products and services no matter how good they may be. You can also track customer satisfaction by giving out surveys or interacting with your customers one-on-one.

2.      Employee Happiness

Employee Happiness

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Your employees are critical to the success of your small business. You don’t want sulky and unhappy staff dealing with your customers. A positive work environment is key to the overall success of your business so you need to keep track of employee happiness. You can use tools such as TinyPulse and Celpax to help track this oft-overlooked metric. Another way to track employee happiness is to keep tabs on employee retention. Employees tend to stay where they are happy.

3.      Social Media Performance

Social Media Performance

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According to marketing professionals at SEO services Toronto, you need to track your performance on social media. This involves more than garnering likes and followers. Interaction and engagement are some of the types of performance metrics you need to keep an eye on. Other types of business metrics that you should track on your social media pages include the unfollower count, follower count, audience growth rate, clicks per post, and conversion rates.

4.      Customer Loyalty

Customer Loyalty

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Getting new customers is usually harder than retaining existing ones. Consequently, you need to put more effort into customer retention than you do on acquisition. Loyal customers will keep coming back and buying from you as long as you treat them right. You can implement a loyalty program and keep them happy. At the same time, you’ll get an avenue to track how often they come back.  The more loyal a customer is, the more likely they are to recommend others to your business.

5.      Customer Value and Customer Acquisition Cost

Customer Value and Customer Acquisition Cost

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These are some of the types of business metrics that many small business owners ignore. It is important to find out how much it costs you to acquire a customer and what the average lifetime value of each customer is. This metrics will guide your pricing and how much you can spend on customer acquisition without breaking the bank.

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Outrank Your Competitors With These 6 Powerful SEO Tips

Want to take on your competitors and Google with a no-nonsense approach to your content strategy? SEO is a great place to start. With the right SEO strategy, you give your site (and your product) the best chance to organically outrank other websites in your industry.

You can also build on your current content strategy, scale up your keywords, and increase your traffic, which leads to more conversions and ultimately better lead generation.

However, the wrong approach to SEO can really set you back and make your site invisible to search engines. With a Toronto SEO expert, you get the latest search optimization techniques that place your site on the bleeding edge of content strategy.

Here are six powerful ways to improve your SEO and outrank the competition:

1. Revamp Content that Almost Made It

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Got an article that should have been an ace but didn’t get the attention it deserved? You can look up pages on your site under Acquisition – Search Console – Queries report. Then you can set the filter to show just phrases for which the average position is greater than 10. This gives you a full list of content that had some hits but wasn’t viral enough to give you any engagement.

You can give these articles more details, answers, statistics, images, quotes, and graphics to make it better. You should look at these pages as a way to spend more time molding and crafting the perfect content.

Before you start revamping, remember these tips:

  • Check the rankings of the page in Analytics in all categories, so you don’t hurt relevance for another keyword phrase you might be ranking for with that content.
  • During the revision process, work to connect in different subtopics, which you can include in related search results and pages.
  • Try to perform this task quarterly with a content marketing audit to ensure your content is always up to date.

2. Tap the Power of Video

Video

Quality is much better when it comes to SEO. If you have content on your site that seems shallow and doesn’t really provide any interaction, you could simply add a quick video to tie in something new. You can share the article using the video on social media to get initial engagement and then hopefully more shares will follow.

3. Make Your Site Useful

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If your site is useful to one person, they may just link it and share it around the web on their own. That’s the best way to get more links and likes, which ultimately add to your SERP ranking.

4. Don’t Do “One and Done” Content

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You want to build a following your content. It should be so much fun to read and engage with that people remember the site and want to go back to it, and they want others to see it. You should create content based on strategic keyword analysis, interactive content, what your audience wants, and what your business goals are.

5. Perform Regular SEO Audits

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Your marketing team needs to take time each quarter to perform content and SEO audits. This helps you tackle problems, be more creative with keywords, and set new content goals that should be accomplished within 90-day periods, as well as note progress on long-term ranking goals.

6. Maximize Your Moneymaker

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What part of your site gets the most traffic? Do you have certain pages or products that are very popular? You can develop more intricate SEO strategies around your most popular pages in order to get more backlinks and shares.