Just like it’s important to know your customers, it’s equally as important to know your metrics.
That’s right baby — we’re talkin’ numbers.
Before the flashbacks of ninth-grade algebra send you running, allow me to put your creative, non-analytical mind at ease: understanding your metrics as it pertains to your business is a lot easier than it sounds.
Metrics are not the data. Metrics are the data you measure. And when used to help you make decisions, they impact virtually every aspect of your business.
Probably the easiest way to paint a picture of important metrics is by taking a look at your social media.
Every platform these days has a feature that allows you to analyze the metrics of your content. So if you’re trying to craft a content plan for your Instagram, it would make sense to check out the analytics for your last 10-15 posts and see which ones had the highest rate of engagement. From there, you can create similar content that you know your online audience will respond to.
The same goes for all of your marketing efforts and even your products. If you’re shelling out tons of money every month on Facebook Ads and your metrics reveal that nobody is clicking on them, you can make a decision to halt that campaign and put your advertising dollars elsewhere.
Another example would be your products or services. Your metrics can help you see which of your offerings are the most important. Once you have that information, you can use it to help decide what new offerings and services you can create.
Empower Your Entire Business & Support Your Goals
Understanding and utilizing metrics in your business empowers you to confidently make decisions that you know will be well-received.
And beyond figuring out what’s working, metrics also provide a safety net of sorts for you to test out new material and products. Numbers don’t lie, and you can easily see what your audience is responding to — and what they’re not about.