It may sound like common sense but you would be shocked at the number of businesses I encounter who basically know if their business is doing well at the end of the year when they meet their accountant.
There is a better way: and it’s called “Data”.
You don’t have to be a large company to collect data. As a shop owner, I captured traffic, conversion rate and gross sales number every single day. On a monthly basis, I had a big data software run that would give me inventory levels, turn, profitability, GMROI, mark downs and so much more in 12 different categories of inventory.
As a call centre manager, I looked at Average Speed to Answer every 5 minutes. I checked abandonment, average handle time, agents who logged out of the phone system and weren’t on an official break. Weekly, I rolled up these numbers and added cancellations to the report so I could get a sense of service quality.
As a social media marketing manager, I look at vanity metrics plus engagement metrics plus lead generation.
If you measure activity properly, you can identify opportunities for improvement. You can communicate with your team and show them priorities. Numbers, data, reports, they align a team very effectively.
If you need better insight into your team’s operations and you would like to run by some metrics, please feel free to email me anytime.