5 Critical Metrics to Watch in Your Business
A key to business success is keeping a close eye on certain performance metrics that help you monitor thehealth of your business. Here are five metrics you can use to help keep your business on the right track.
1. Conversion Rate
Conversion rate is the number of people, figured as a percentage, who go on to take the action you want them to take. For example, it could be the percentage of website visitors who press the buy button, fill out a survey form, or show up to an invitation-only sales event. This metric helps you determine if your marketing efforts are paying off. In addition, it can provide insight into what is and isn’t working with your product, service, or messaging. To figure out your conversion rate, divide the number of completed actions (those who bought) by the number of possible completions (those who visited your site but did not buy). You can also use this free online conversion calculator.