5 Metrics You Should Be Tracking To Help Increase Sales

Are you tracking and accessing metrics to improve you business? Here are 4 important metrics you should track to improve your business.

1. Total sales by time period

You should be tracking your sales by a time period that is relevant to your business (monthly, weekly, quarterly, annually). By tracking sales by time period, you know exactly how well you’re performing. You know if your sales are up or down versus the prior period, be it the prior day, week, month, quarter or year.

2. Sales by product or service

This metric tells you exactly what is performing (a.k.a. selling) and what’s not. This will help you to focus your business and marketing strategy. Declines in the sales of certain products might mean new product versions are required where as increases in sales means you need to support that product or service and make sure the capacity is there.

3. Revenue per sale

The easiest way to increase sales and profits for most companies is to increase the average revenue per sale. Tracking this metric will help you devise strategies to increase your revenue per sale and track the success.

4. Sales by lead source and activity

This metric will help you focus your marketing and advertising spend. The key here is to spend more on the advertising or “lead sources” that produce the most sales, and to stop wasting money on sources of leads that don’t. By tracking the lead sources for your sales, you can optimize your lead generation.

I also recommend trying to track sales by activity as well. This can include sales per click or impression (for digital marketing), sales per lead or phone call and networking or events. Most sales people say that sales is a numbers game. If you go to more events, speak to more prospects, and issue more proposals you’ll close more sales. It’s true. You need to track the results and effectiveness of each of these efforts to see what is working so you can do more of it. You also identify what’s not working, and can fix it right away.

5. Revenue per sale

The easiest way to increase sales and profits for most companies is to increase the average revenue per sale. Tracking this metric will help you devise strategies to increase your revenue per sale and track the success.

The goal of tracking metrics is to provide you with the information and ability to alter business and marketing strategies to increase your revenue.

Are You Mobile Marketing? Here Are 4 Tips To Help.

If you missed the memo, marketing has gone mobile. ComScore reports that more than 1.8 billion people worldwide use mobile devices and this includes your customers. Customers (and potential clients) are using smartphones and tablets to find information about your company (and your competitors). 48% of Internet searches begin on mobile devices. Basically if you haven’t thought about your mobile marketing strategy, you’re already missing out. You need to be in the mobile marketplace if you want to be seen as a relevant leader in your respective industry.

Entrepreneur has a few statistics you should probably consider:

  • 99% use mobile devices to search for valuable content and information
  • 63% of all Internet access is from mobile devices
  • 62% of users access email from mobile devices
  • 15% make purchases from mobile devices

Here are my 4 tips to help you improve your mobile marketing.

1. Have a Mobile Friendly and Responsive Website

This is a must-have. You need a website that is mobile friendly/responsive and loads fast for mobile viewing. Include relevant informations and ensure your mobile website is easily accessible and navigable with clear links and user-friendly icons.

2. Mobile Relevant Articles and Content

Your website needs to have a mix of dynamic (topical content in the form of blogs) and static (About Us, Services, Products, etc.) content. Potential clients search for more than just what your company does. There needs to be a value exchange when developing useful, mobile-friendly content.

3. Be Social

When visitors find great content on their mobile devices they want to share it quickly and easily with others on their social media accounts (Facebook, Twitter, LinkedIn, Google+, etc.). Be sure to include social media icons on all of your web-based marketing.

4. App- Centric

Consumers spend more than half their mobile time using mobile applications. I am not saying that all companies need a mobile app, but you need to consider how your website, content and marketing is presented within other mobile apps – for example Facebook, Twitter and LinkedIn. You should also have a presence on the popular social media networks, with branded pages on Facebook, Twitter, LinkedIn, Google+, YouTube, etc.  Ensure that the profiles on these sites are complete, up-to-date and provide relevant information.

The Top 5 Ways to Use Social Media for Branding

A brand can help you (and your name) stand out from the crowd. There are many ways to brand and social media is one you should use. Your ability to use social media for branding will greatly depend on having a clear underlining fundamental understanding of social branding concepts.

Benefits of using Social Media for Branding:

  • Virtually Free
  • Wide Audience Base
  • Comprehensive Multimedia support
  • Massive untapped potential

 

1) Facebook Fan Page

Facebook Fan Pages are amongst the best social media tools for branding simply because it has amazing potential to build a great fan following for your business. There’s no other social network in the world with over 1.15 billion active users, 16 billion pieces of content, 11 million active pages and almost 60 million users becoming fans of Facebook Pages each day.

2) Twitter

What can 140 characters of text do to establish your brand? A lot! Twitter is a great brand for building a reputation. You can reach out to millions of prospect customers with a few twitter clicks. You can access twitter from your computer, your phone – from the twitter website or through any of the thousands apps available for twitter. Twitter allows you to start conversations with like-minded peers/ prospects, share valuable news and information, build your audience, stay connected with latest events and finally build and monitor your own brand and reputation.

3) LinkedIn

LinkedIn is known for its networking capabilities. It’s very important that you take advantage of that. Start by adding people you know to your network. Then, when you’ve built up a good-sized network, you can start to see people from your friends’ networks. It’s a great way to interact with and meet people who could be crucial to your industry or business.

LinkedIn allows you to participate in conversations, which gives you a great opportunity to be a voice for your industry and show how much of an expert you are. Join some groups that relate to your niche and get in on the conversation. This will also help you to network with people in your niche.

4) YouTube

Most customers like to see brands in action rather than go by word of mouth. YouTube offers a great way where you can show videos of how your brand works and how you’re superior than your competitors. Create your own branded channel on YouTube and see the world of difference that it makes to your online audience.

5) Blog

I love to read about a brand before I get associated with it. In today’s modern age, many consumers think alike and are keen to spend some time reading about brands before they commit to them. A blog is a great place to showcase your brand. Coupled with SEO and smart tags, blogs are a great way to establish your brand online. Blogs help spread brand-awareness as well as serve as a great medium to educate users about the details of a brand and business.

7 Reasons to Create a Simple Marketing Plan

A simple marketing plan can effectively outline all the important areas that you need to successfully and consistently market your business. Every small business should create a marketing plan. Here are 7 reasons why your business needs a realistic, yet simple marketing plan.

  1. Create a vision for your business
  2. Solidify your mission (and mission statement)
  3. Outline your goals and what you want to accomplish
  4. Describe your ideal client
  5. Articulate what makes you different (your unique value proposition)
  6. Provide a road map for achieving your goals (this means create a plan)
  7. Track your progress

Grow Your Small Business Social Media Audience – 5 Tips

The world of social media is constantly changing. Luckily, I think it is for the better. Here are 5 tips to help get you started off on the right foot.

Tip #1: Be consistent

Creating content through your blog and social media profiles regularly will allow you to steadily grow your audience and followers. Content generation will also increase your organic SEO. Also, having a consistent voice will help you to increase your brand power and awareness online.

Tip #2: Provide value

This is just common sense. Simply put, if you’re not providing value, then you no one will care. Consider giving back to the social media community by providing content that your audience will value. eBooks, infographics, whitepapers, PDF reports, useful graphics or templates are some of the ways you can give valuable content to grow your social media followers.

Tip #3: Consider K.I.S.S-ing your content

If you haven’t heard of the Keep It Significant and Shareable (or K.I.S.S.) idea, then you are missing out. By creating and sharing engaging content interest will generate and hopefully your audience will remember you for a long time. You can also build your trust by linking out to credible, authority sources.

Tip #4: Optimize your profiles

You cannot grow your online presence with out having a valuable, consistent profile. It needs to be developed with a purpose. Before you can grow your social media audience, you need to tell who you are and what your business is all about. Hopefully you can demonstrate and display your value proposition. A good way to start is to optimize your Facebook, Twitter, Google+, or LinkedIn with the relevant information. Adding personal, humanizing touches will help you to secure your place in the social media community as a relevant, engaging brand.

Tip #5: Be visual

Leverage visual content as much as you can. Infographics are a huge trend right now. So are good, high quality images. By leveraging shareable images, your company should be able to engage your audience  and build a loyal following on the internet.

3 Reasons You Need A Social Media Call-To-Action

A Social media call-to-action is an integral and often overlooked element of an effective social media strategy. Social media gets prospects, customers and the public primed to want to find out more about your offering or to engage with you further but you must lead them to the next step in your sales or other conversion process. Here are three reasons to use a social media call-to-action.

  1. A social media call-to-action ties social media activity to your business or marketing objectives. Generally, this refers to your social media goals such as building your brand, expanding your reach and generating sales leads.
  2. A social media call-to-action drives participants into your conversion process. Consider what’s needed to move participants to the next phase of your sales funnel. Ensure that you have processes and systems in place to meet their needs.
  3. A social media call-to-action enables you to measure social media effectiveness. This is crucial to prove that social media supports your business goals because social media tends to be most effective early in the purchase cycle and difficult to track.

The Main Components of an Effective Business Plan

  • Executive Summary: It is a page that highlights the the business plan.
  • Company Description: Legal establishment, history, start-up plans, etc.
  • Product or Service: Describe what you’re selling. Focus on customer benefits.
  • Market Analysis: You need to know your market, customer needs, where they are, how to reach them, etc.
  • Strategy and Implementation: Be specific. Include management responsibilities with dates and budget.
  • Management Team: Include backgrounds of key members of the team, personnel strategy, and details.
  • Financial Plan: Include profit and loss, cash flow, balance sheet, break-even analysis, assumptions, business ratios, etc.

 

4 Ways to Get Customers to Open Your Emails

If you want to be a successful digital or email marketer, it’s important that your subscribers open your emails. If your audience isn’t opening your emails, they won’t be able to take action. Ideally, you want your subscribers to continually open your emails and on a regular basis.

Here are 4 tips to help make sure your emails are being opened and read:

1. Solve a problem. 

2. Save them money (provide value).

3. Educate as a thought leader.

4. Entertain.

Types of Marketing Emails

  1. New Marketing Offers
  2. Form Submission/Thank-you emails
  3. Product/Service Information emails
  4. Digital Magazines or Newsletters
  5. Co-marketing emails
  6. Internal updates
  7. Lead Nurturing emails with complimentary content (e.g. eBooks)
  8. Dedicated sends (e.g. monthly welcome email,  email subscriber lists)
  9. Email Confirmations
  10. Event Invitations