Why Tracking Your Growth Will Make Your Business More Successful
I'm sure you’ve heard before that you need to be tracking your stats in order to know if something's working or not. I can't stress how important this is even though it seems like such a tedious task. Tracking your growth will pay off in the long run and allow you to plan more effectively and successfully.
The key to seeing success is knowing what's working and to keep doing that to see consistent results. Here I’m going to talk about how to track your statistics in an efficient way so that you don't waste any of your time doing things that don't provide you with the results you want.
Once you get your system down of tracking the statistics in your business such as your email list growth, your social media growth, and sales, you'll be able to craft the perfect formula to drive consistent results.
First let's talk about email marketing.
I'm probably not the first to tell you how important having an email list is for your business. Email marketing converts higher than social media marketing and you own your email list whereas your social media following can be gone tomorrow if any of those companies go out of business or change their algorithm.
I recommend spending a lot of time on growing your email list so that you can have constant and open communication with your subscribers. To make sure you're growing your list efficiently it's good to have a plan in place for your list to grow. You can do this with freebies, hosting webinars, facebook ads, etc.
When you're doing all these things to grow your email list I recommend keeping a log every week of what your statistics are for your email list and what you're doing that week in order to grow your email list.
For example, say this week you're hosting a webinar and you're starting at 200 email subscribers. Then at the end of the week you have 250 email subscribers.
By having a log that shows you did a webinar this week, you can easily look back and see that your list grew by 50 by hosting a webinar. You could choose to do this again in the future if you want this type of growth or maybe you can see that something else like a Facebook ad brings in more subscribers by testing that out in a different week.
The key here is to make sure you take accurate notes and test out different growth strategies so that when you look back at your past weeks you can replicate a strategy that has brought in the most growth.
The same can be done with your social media.
You can also log in your statistics for each of your social media channels and take notes on what is going on that week. You may see that you're following grows when you host a contest or when you promote a webinar. The log is important because it takes out that step of having to remember what you did a few weeks ago by referring back to your log.
When it comes to sales, this also can be done. You can track how many sales you are making per week and also write down what strategies you have been doing to promote your products or services. By having this written down you may see which strategy works best per product or service and start crafting better sales strategies for the future.
If you keep all these stats in one place, such as of spreadsheet, you'll be able to have one big overview of all the metrics in your business. You'll be able to see what strategies are the best for your business and which are not working or providing the results you want. Keeping everything together provides you with the great snapshot and less confusion about what's going on with your numbers.
Below is a video of a metrics tracking spreadsheet that I have created that can help you track all these statistics in your business and can be used to plan going forward. You'll be able to see how to log in your numbers and your notes per week and be provided with growth charts for visuals on how your strategies are going.