Just Released: 3 Key Performing Indicators to Run Online Business
Atlanta, May. 29, 2018: If you are looking to run a successful online business then you need to pay attention to the performance. There are instances when the company looks to be doing great at the moment but if we consider the overall performance, we get to know that the company is suffering from a downfall.
Like in any other industry, there are certain performance indicators that you can consider to measure your progress and see whether you are heading in the right direction. So, here are some of the key performing indicators like buy twitter followers to run online business.
Tracking sales is the priority and you should better be doing it on monthly, quarterly, and annual basis. There are companies that tend to keep a weekly scorecard to consider what they have done each week. It all runs in a cycle and you need to figure that out with the help of the sales. For instance, if people are paying for your products, they must be finding them interesting and useful.
On the other side, you are using that money to pay your workers and manufacturing line and gather the raw material and that is how your cycle is going. If the sales are heading in the positive direction it means that you might be going at the right side too.
Email List Activity
There are times when people see this indicator to check out a number of things about the business. There will be individuals that have signed for your email letters and the email services track the important indicators to help you know a lot about your potential clients. For instance, they would let you know how many people you sent email to, how many of them opened it, the time they spent or bounce rate, how many clicked on the product or URL you sent through the mail, and what was the percentage of people that bought something from there. It can help your email marketing and aid you in getting more sales.
Customer Acquisition Cost
Many business overlook this factor but it is one of the most crucial indicators for you. Businesses tend to see only the overall expenditures that they do on the marketing. However, you need to measure it in accordance with customers and it is very easy in the online business. Consider that you run ads on social platforms that account for $12000 annually i.e. $1000 a month on social platform ads.
Then, see how many customers you won with the help of these ads. Taking it into the account, you might have had 1200 customers from various platforms over the year that bought a particular item from your site. So, your customer acquisition cost is $12000/1200 i.e. $10 per customer.
See the amount of profit you are keeping at each sale because at the end of the day your actual profit will be the cost customer paid minus initial cost of the goods minus the customer acquisition cost which, in this case, is $10.