These metrics could be the guideposts that lead your business toward new growth.
How do you determine the success of your business? While no metric alone can give you a full picture of your business' health and growth, tracking several metrics is the best way to make sure you are meeting your goals and finding the areas that need the most improvement. Keep your eye on these five crucial areas.
- Click-through rate – How effective are your advertisements? This metric will tell you. Compare how many impressions your ads are receiving to the amount of people who actually click the ad to visit your website. If this rate is low, it may mean you need a new approach, or it could mean that you ads are not placed in the most relevant locations.
- Bounce rate – What happens once a potential customer lands on your page? Do they explore several pages, or do they quickly hit the back button and return to their previous activities? A high bounce rates signifies a need to improve your company's website.
- Conversion rate – How many people actually make a purchase compared to the amount who visit your website? Are you making a convincing sell, or are visitors looking elsewhere?
- Repeat visitor rate – Even if no purchase is made, repeat visitors show that people are interested and considering what you can do for them. It also means they are giving you several opportunities to sell yourself. Increase repeat visitors by regularly providing new, valuable content, such as a blog or a series of informative videos.
- Repeat customer rate – Does your product live up to its marketing? How many of your clients return for future business?
The marketing industry is constantly changing. Make sure you are staying up-to-date! AMA Tampa Bay can help keep you on track. Learn more about joining our network or attend one of our informative events.