In business, a month flies by so quickly, and even the best of us can forget to check on what’s important for the growth and consistency of our business.
If you’ve had a crazy month (and believe me, we all do), then one of the best ways to get yourself back on track is by setting aside time for a monthly business review, to track your progress.
In this blog, I’m going to share 7 metrics to track and review in your business monthly.
1️) Google Analytics
I love data analysis and Google Analytics is one of my favourite tools, and it’s definitely an analytics tool that you need to monitor at a minimum, monthly. Google Analytics gives you all of the free tools you need to analyse your website and website traffic, in depth and all in the one place!
I suggest you review or think about the following when using Google Analytics;
- Where did your website traffic come from?
- Is your traffic coming from where you thought it would?
- Which channels performed well?
- Which content got the most views?
- What are people doing on your website, which pages are they looking at?
- How many new visitors did you have during the month?
Track your progress for each of these metrics monthly to see if your website traffic is growing, and to see if your marketing activities such as paid ads and email marketing are driving traffic to your website.
2) Social insights
Reviewing your social media insights on platforms such as Facebook and Instagram are extremely important, as it allows you to see which posts and stories your audience have engaged with the most. And which activity on social media is generating email sign ups and traffic to your website. If you don’t make time to review your social insights, you will have no real idea which content is winning.
On your social accounts, I suggest you review;
- Which posts/content got the most engagement, likes, saves and shares?
- Story analytics: How well did you engage with viewers, and which stories performed the best?
- You may also want to review your hashtags and contrast them with the hashtags that brought the most engagements.
Lastly, make sure you review which of your social platforms drove the most traffic to your website and see if you can improve on the platforms that aren’t performing as well.
3) Email marketing
When you are running regular email campaigns, you will need to monitor the success of each one, so that you can continue to improve! You want to grow an email list of engaged readers, and you want them to keep reading and absorbing your content.
Using your email marketing tool such as MailChimp, you may want to monitor the following;
- Which emails got the most opens and clicks throughs?
- What generated sales or new subscribers?
- Which emails got the best open rate?
- Were any of your campaign emails shared?
- Did you have anyone unsubscribe? How can you minimise that?
- How many did not open the email?
These things may all seem obvious or even small, but trust me when I say that email marketing is still one of the most important ways to build trust and good relationships with your clients / subscribers, so you want to continue to perfect your campaigns!
4) Paid Ads
As we know, paid ads are another crucial part to the success of your business, but it would be no good to continue paying for an advertisement that isn’t giving you the best return on investment. It’s so important to review your paid advertisements and if they’re not performing well, try thinking about the following;
- What creative worked the best? (If you ran two ads, monitor which one performed better.)
- What was your cost per lead?
- How many leads did you get and then how many sales from those leads?
- Do your landing pages or messaging need tweaking?
- What’s your conversion rate?
If you’re interested in the differences between paid Google ads and Facebook ads, read my blog about these ads here!
5) Google My Business
For local businesses and local SEO, Google My Business is where you are going to make an impact, and be found online.
I would suggest checking the following on your Google My Business dashboard;
- How are customers searching for your business, direct or discovery?
- Where are customers viewing your business on Google in maps or search?
- What action are they taking? Visit your website, request directions or calling you?
- Are your photos that you are uploading getting many views?
Keyword research is the process of analysing words or specific search terms that potential clients may use when discovering your business on Google. Researching Keywords for your business is important for Search Engine Optimisation (SEO) and for general marketing. Keyword research will give you the best insight as to what your target audience is searching for on Google and other platforms such as Pinterest!
A great tool to track your keywords is Ubersuggest and Ubersuggest Projects.
I would strongly recommend you use Ubersuggest Projects to track the following;
– How well are you ranking for your primary keywords?
– Compare your findings with last month.
– How are your competitors ranking on their keywords?
– Are you targeting the right queries that your audience is searching for? What’s the search volume and how difficult is it to rank for each of your key search terms?
7️) New clients / Customers
Hooray! You’ve got yourself some new clients or customers for the month! That’s great news, but it also means you should be analysing how you’ve been able to achieve this. So where exactly are these new customers finding you?
A CRM is a great place to track this kind of information, and also your Google Analytics. Track the following:
- How many new customers did you bring on this month?
- Was this up or down on the previous month?
- Which platforms have these customers come from?
- How has this impacted your revenue targets? Did you exceed your monthly revenue targets?
- And what was the cost to acquire a new customer?
Aim to set aside some time at the start of each month in your diary, to go through these metrics in your business for the previous month. You want to ensure that all your marketing efforts are paying off.
I also teach all of this in my Marketing School course so if you need a more in depth understanding and guidance to all of these concepts, check out what marketing school can offer you. And I look forward to sharing my knowledge with you there.