Metrics are something important that can help in increasing the revenue and profitability of any business.
What is business metrics?
Business metrics are also known as KPIs (Key Performance Indicators) that display the measurable values. These values show the progress result of company business’s goals.
This article is built on some crucial metrics which every marketing and advertising supervisor must follow for the better reputation of the brand.
Sales Revenue is the most important business metric that shows almost all the things about your business. The result of monthly sales shows that how much people are interested in buying your company’s services. With the help of sales revenue, you get to know how much marketing efforts are paying you off and who is against you in the marketing campaign actions.
Higher the gross margin, the more dollars can any company earn by each sale. With a high gross margin, you’ll be able to invest in many other operations. Gross margin matric is important for those companies that freshly start their business.
Net Profit Margin:
In the Net Profit Margin, you can indicate the total profit your company is making as compared to its revenue. With this metric, you can predict the future of any business. In Net Profit Margin, each dollar is summed off and translates into profit metric.
In business language, a fixed cost that does not depend on the production level of goods and services such as salaries which are paid every month is called overhead costs. In any rising business, these overhead costs can creep up and out of control if not pursued carefully.
Average Lead Close Rate:
You should rack your close lead rates often, I recommend you on a monthly basis.
Average lead close rate helps you to monitor the quality rate of your leads at any time.
Traffic waterfall metric is important for your business if you hope to achieve specific leads goals. Use this metric to monitor your traffic growth activities closely.
Loyalty and Retention of Customers:
Loyal customers are very important for the growth of any business. With this business metric, you can increase your company’s sales and spread the word about your products in the market.
With the help of Retention rate, you can keep an eye on those customers who are making repeat purchases.
Net Promoter Score:
With the help of this, you can reflect the quality of your product. This metric provides you the chart of customer satisfaction.
Monthly Website Traffic:
You can indicate the reputation of your company in this metric. Promote your company’s web page on different platforms. It can also increase the number of traffic on your website.
The happiness of Employees:
Happiness of Employees = more productivity of employees
By keeping satisfaction level of your customer’s high led your business to the long-term commitment with the team.
Sales Growth Year-To-Date:
Sometimes business sales are highly depending on the mood of the company’s customers and seasons. This business metric provides you the information about the yearly sales of the company and where these sales are increasing or decreasing.