Many businesses mistake the idea that analytics can be added “anytime” to be useful. However the truth is that analytics value occurs when planning metrics so that they describe the persona of site visitors and app users who can be customers.
The following is a list of reporting ideas that can be planned upfront. The metrics and dimensions are based upon Google Analytics, so implementing these is a matter of accessing your Google Analytics account online.
The key to getting the right reports that relates site visitors or app users to your business. Let’s start with the most straightforward: Location, Demographics, and Benchmark reports.
Location (Nation, city, state) or Geo Report
This basic report answers a key question – is your site attracting visitors consistently from an intended region? Monitoring this against your business objectives can show where within a region are people accessing your site. This can inspire how you deploy your advertising and how you use your social media.
Demographics (Age, male/female)
Demographics provide age ranges and the mix of male/female visits. These can be helpful in determining if the age and sex of the visitors match for the intended audience of a product or service.
Benchmark (Device, location, channels)
Benchmark reports indicate a site’s or app’s performance compared to that of other sites or apps within an industry. The analytics reports from participating Google Analytics forms the basis of the benchmark data.
There are analytics for each social media platform – Twitter Analytics for Twitter, Facebook Insights for Facebook, and various tools for Instagram – I personally like Ink361. Each of these varies in appearance, but each has a purpose: to monitor activity on the given social media platform. They can measure engagement of specific types of posts, the best time of day to post, and what content in posts are working the best to tweak your posts to increase reach.
Note that I wrote given: It means that the metrics are about activity on that particular social media.
But they can not reflect activity that leads to your website. For that you need an analytics solution, Google Analytics. Google Analytics, or another digital marketing analytics solution like Piwik, contain reports to show how much of the social media platform is contributing to site or app goals.
Audit the traffic and see how each social media platform ranks in terms of visits, then engagement (time in session and pages/session). Sources that are not top ranked may have higher engagement metrics those may be more worthwhile to develop further support.
Make sure you can tie the activity to your business goals. A good consultant – like, say, Zimana Analytics can provide the right guidance to help your business keep its customer base strong.
Small business owners are the life blood of America. In 2007, the Small Business Administration calculated at least 2.3 million businesses in the mix, a number likely to keep growing as the economy slowly recovers from recession.
However, as a small business owner, you run the risk of filing for bankruptcy if precautions are not taken to prevent hurdles big and small. According to the U.S. Bankruptcy Courts, over 1 million businesses filed for bankruptcy in this year alone. So, how can you prevent your business from being included in this mess?
Avoid Data Loss
There is nothing worse than keeping meticulous records on your earnings, client information and other receipts only to have it destroyed in an accident or be mismanaged by one of your employees.
You can protect and secure your company’s documents by using cloud storage, which allows you access to anything you might need without tying the information to a specific device. This can minimize any damage caused by a fire, virus or loss of a device because everything is secured offsite. Companies like Mozy offer custom cloud storage options, which can provide a secure place for documents and make file sharing easier.
Prevent Customer Dissatisfaction
Technology might scare you or you are simply in your business comfort zone, and you are doing just fine. However, in order for you to appeal to the current consumer, you need to consistently evolve to meet their needs, which means that you need to be Internet savvy.
This can be as easy as setting up accounts for your business on social media sites like Twitter and Facebook. As Mediabistro reports, 87 percent of small businesses found that social media has helped their business. Getting tuned into the market will only help you grow as a business and make a wider circle of connections.
Be sure to listen to your customers on social media, and make improvements and adjustments based on their concerns. Experian reports that 91 percent of online adults use social media, so this makes it the perfect place to reach your target market and send them surveys and questionnaires. In addition, if you take the time to respond to your customers, they will return and bring their friends with them.
Save Money for Later
There are many ways that businesses of all sizes can save money. Going green is one of the latest trends in saving money and helping the environment. According to Energy Star, the nation’s small businesses spend $60 billion a year on energy. Even simple things like turning off lights when rooms are not in use, bundling electronics on power strips and unplugging battery chargers when finished can really reduce your energy bill. These minor fixes can save your business money that can be saved for later in case of an emergency or used on something more productive for your business. Small businesses can’t afford to waste money, so be sure to check out different, green ways to save.
The tips above will surely ensure a long lasting life for your business, and will help you grow into a thriving enterprise that can take on any unforeseen disaster, big or small.
What is a mini-pitch and why should you have one?
by: Michael Luchies
Sending the right message is everything when you need to make a sale or land investors for your business to survive and grow. An elevator pitch is often tied to a competition, but how do you change your pitch out of the competition format and why should you?
Elevator pitch competitions tend to feature entrepreneurs who are representing their idea or business through a 90 second pitch. Although it may be appropriate to talk for a minute and a half straight in a competition, in most business situations it’s not. So does this mean that you need different pitches for different situations? Well…YES!
This article will cover the mini-pitch – a short concise pitch that will effectively represent your business in a clear manner to any audience. A mini-pitch should be a maximum of 15 seconds and should give the audience enough information to understand what you do, encourage them to ask questions, and have them wanting more.
When to Use
The mini pitch is perfect for a short introduction, when someone asks “What do you do for a living?,” or when cold calling or approaching a prospect for the first time. Save the full pitch until you know that your audience is dedicated to listening to what you have to offer. Using your full pitch during an introduction is equal to telling your life story within the first 5 minutes of a blind date. Give them a little information, but make sure to find out what they are looking for and what they want from you.
How to Create
Step 1: What is the basic function of your business? This is easier said than done for applications and technology based businesses. For a brick and mortar store, this is as simple as apple pie. For technology based companies that may be hard to explain so that everyone can understand what it is you do, you may need to fine tune your message.
Ex 1: The Coffeehouse offers premium coffee and bakery items to college students in Minnesota.
Ex 2: IcoffHouse shows you the highest rated coffee shop within a 6 block radius OR IcoffHouse is Google just for coffee.
Step 2: What makes you unique? The first step gives the basics so anyone gets a clear understanding of your primary function, now you can start to sell it. Step two is what sets your business or yourself apart from current offerings in the marketplace.
Ex 1: Student created coffee flavors and baked goods
Ex 2: (IcoffHouse) Based on each user’s coffee preference
Step 3: Opportunity or Market Size
Ex 1: over 100,000 people in a 10 mile area
Ex 2: 50 Million coffee drinkers in America
Step 4: Recent sales, outlook, or bonus piece of information.
Ex 1: 30% growth every month in our first year OR 700 students surveyed said they would visit every day
Ex 2: 200,000 signups in our first month of operation OR secured 1M in investment in our first round
Put it together and say it out loud:
Ex 1: The Coffeehouse offers premium coffee and bakery items to college students in Minnesota through student created coffee flavors and baked goods to a market of 100,000 in a 10 mile area and has seen growth of 30% every month in our first year.
Ex 2: IcoffHouse is Google just for coffee and finds results based on each user’s coffee preference for the 50 million coffee drinkers in America, and 200,000 of those have already signed up in our first month of operation.
You can pack a lot of punch in a 15 second pitch. Need help with your mini-pitch? PitchJam is offering 10 free 30 minute consultations where we will help you perfect your mini-pitch! No commitment needed and no risk. Contact us at Info@pitchjam.com.
About the Author
Michael Luchies is a co-author of The Entrepreneur Within You Volume 2 – coming this June!