post title image 1.14.21

Where Is Your Biz & Where Do You Want It To Be?

This post may contain affiliate links. When you make a purchase through the links, I receive a commission at no extra cost to you. Thank you for your support. 

So you’re ready to take your online business to the next level and watch some explosive growth unfold in the next quarter. YAY!

Before you start planning next quarter, let’s pause and look at where you’re at right now. 

two women at a computer with one taking notes

all about that data

Future planning for your biz is all about data.

Knowing exactly where you’re at or starting from helps you spend your time and money effectively so you can work efficiently.

By gathering, recording and keeping track of your analytics/data, you will start to see:

  • what is working
  • what isn’t working
  • which trends are starting to play out

All of that starts with recording where you’re at right now.

so what should you record - and how?

First the how.

Your options:

  • Write it all by hand in a notebook
  • Add to a text document
  • Use a spreadsheet
  • Keep track on a Trello board

With a spreadsheet, you have the option to calculate weekly and monthly averages and map it out in a graphic to get a clear picture. 

What to Record:

  • Traffic
  • List/Subscribers
  • Customers
  • Income & Expenses

Let’s discuss each.

Traffic

In order to grow, you need to expand your reach by getting more traffic.

It’s also a good idea to encourage visitors to your content to click around and dive into more of your content.

TIP: Place related articles at the bottom of your posts, even if it just a link to other posts under that subheading. 

What to keep track of:

  • Total visitors 
  • Unique visitors 
  • Bounce rate
  • Traffic sources

List/Subscribers

Your next goal is always to get these people on your list.

What to keep track of:

  • Total number of subscribers
  • Conversion rates for each of your opt-in forms and pages
  • Open rates for your emails
  • Unsubscribes 

As you start to collect/review data regularly, you’ll get a better picture of your subscriber base.

Customers

Subscribers are great, customers are better.

What to keep track of:

  • Total customers
  • Daily purchases
  • Weekly Purchases
  • Monthly Purchases
  • Total lifetime value of your average customer
  • Repeat purchases
  • Refund rates 

Income & Expenses

Last but not least, look at your bottom line, your typical accounting data.

Always keep track of both income and expenses.

Subtract your expenses from your income and there’s your profit.

Easy!

Look at profit over a period of time, but always track income and expenses each time they come up. 

Yes, you can find this data in various different places.

  • Google Analytics
  • Your shopping cart or shop software
  • Email autoresponder service

It’s very important to have it all in one place. This makes it much easier to connect the dots and see the relationships between the different sets of numbers.

Once your initial data is collected, it would behoove you to make it a habit to update the numbers regularly. If you want to experience any kind of growth, you must know what is working for you and what isn’t as you move through the coming months and years. 

Stock Photos:

Ivory Mix 

resources

Journal prompts to help you discover what’s working and what needs attention in your business.

Doing a quarterly check-in will help your business keep running smoothly.

quarterly review journal product image

A fantastic tool/platform that will help you keep your business organized from top to bottom. 

A WP plugin for share buttons, follows and links to related posts. See the site for details on how it can help you. There are a bunch of other helpful tools on their site, so check them out as well. 

Explanations of:

  • Identified Visitors
  • Unique Visitors 
  • Visitors
  • Visits
  • Viewed Pages or downloads

Rant or Rave here:

%d bloggers like this: