Marketing Metrics That Small Businesses Need

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1. Total Number of Conversions

Conversion rate is the total percentage of customers visiting your website and completing their desired goal out of the total visitors.

2. Behaviors of Customers

Learning more about your customers is super helpful. Customer behavior is the habits of your customers, which include the trends, the frequency rate, and factors that affect their decision on buying something.

3. Cost per Sale

Cost per Sale is the total amount required for the whole process, from buying the materials to selling a product.

  • Product expense: This is the cost that a company has to pay to create and consume a product, including the product cost and the selling price, but not all costs incurred in the period are included in the product cost.
  • Workers: The labor force is one of the primary resources for creating a product. If your business uses human resources, it includes many kinds of payment that you must notice, like their salary, health insurance, the total payment of their working days, etc.
  • Warehouse, store position: Finding a place to place your factory with a cheap labor force and transporting fees for distributing your products and gathering materials is a great option to minimize your cost.
  • Materials: Materials are essential. You cannot create a product without materials. Managing the price of materials can help you reduce the cost of a product.

4. Return profit of Investment

This is the last step of your creating and selling products process, you are here with a lot of money in your bank account, which is excellent, but you still have to notice more about it. The profit that you get after you have paid all the expenses for your business from the salary of workers, cost of materials, warehouses or stores, and so on, will decide on whether you will have to increase the price of a product, which will help you to earn more but might make you lose your customers, or stop making that products and switching to something else that cost less.

5. Level of Information Acquisition on social media and real life.

Marketing is all about letting people know more about a product, a service, a brand name, etc. The easiest way to do that is through digital marketing and advertisements. Using influencers helps in this process too! For instance, sponsor a YouTuber to talk about your service or product. This method will help increase the rate of exposure.

Takeaway

Small business means you have a limited budget of money that you can spend on marketing, considering how to do it effectively. Knowing more about what you must focus on will help you save money and time for marketing. There can be many difficulties during the process of these metrics. Yet, it will help you determine the plan for advertising to increase your business's income and popularity. Advertising plays an essential role in the success of a company. Letting more and more people know about how good you are will affect your income and your name in society.

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Visualwebz

Visualwebz

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A Seattle web design and online marketing agency that delivers high-end websites. A passion for web development and SEO.