What numbers should you know for your business?
It’s true that sooner or later everything in your business comes down to numbers. The number of staff you employ. The number of products or services you offer to customers. The number on the bills you have to pay and much more. This can be very overwhelming at times.
I get asked lots of questions from customers about how to manage numbers to push their businesses forward and I’d like to share the answers to these questions with you.
Using Key Performance Indicators (KPIs)
If you’re not already using KPIs, I recommend you start today. The numbers displayed on your KPIs can be used to measure existing performance and plan ahead for future expansion or rainy days. I create a wide variety of KPI graphs and charts for clients to measure and monitor anything and everything.
If you want to know whether Product A is doing better than Product B, create a KPI and input sales of both products over a period of time. Add in costs, overheads, staff required, etc. and you’ll soon see in a picture graph which product is best to invest your time and money.
If you want to record staff levels, holiday, sickness, skills, production levels, sales figures, anything that can be measured with a number can be recorded in a KPI. I also recommend printing your KPIs regularly and placing them where appropriate staff can see the company performance.
Using Website Statistics and Google Analytics
Your web hosting company should provide you with the numbers behind your website. In your website statistics you should be able to see at the click of a button the number of people who visited your website today, or yesterday, or last week, or over the last month or twelve months.
These numbers build up a pattern of how successful your website is. The numbers can point to problems with certain pages. If the number is low for a particular page you can check it out and edit the content to make it more appealing. If you’ve got a page which is recording a high number of visitors, have a look, what has made that page more attractive? Can you replicate that success?
Google Analytics is a powerful tool to monitor your ad campaigns and drill down into exactly how people are finding your website, what they do when they get there, how long they stay and where they go afterwards. I help lots of clients break down the numbers within Google Analytics into bite-size meaningful graphs they use in their day to day business.
This is also useful if you have blogs on your website to see the number of people who go to the blog and how long they spend reading the content. It also shows the number of people who acted on your call to actions, for example, if you have a link to a particular product within the blog, or a ‘buy now’ button taking them to the checkout, these numbers are all recorded and available for you to see.
How I can help with your numbers
If you’re interested in the numbers you should know for your business please drop me an email or give me a call. I will work with you to create powerful KPIs and Analytics to break down the numbers in your business and give you easy to read, manageable reports and graphs so you can see at a glance how your business is doing.