When it comes to looking at your business data, tools like Google Analytics can be quite overwhelming and yet lacking the business intelligence you want to have in order to make smart business decisions.
So today, I decided to cut you some slack and make your life a little easier with this business intelligence tip.
Data can be used in a lot of ways and for a high level strategist, taking a look at all your data points is important.
But for most business owners, that’s overkill (as well as overwhelming).
So my suggestion is to follow the SOS formula.
- Site Visitors
Ever business owner can easily find out how many site visitors are on their website for any day, week, month or year. Simply look at your Google analytics account and it will tell you.
If your site visitors is dropping, then something may have changed. You might have felt the slap from Google and your search engine rankings have dropped. Perhaps ad campaigns are becoming less effective over time. Whatever the case, if your site visitors are dropping, you want to know about it!
Likewise, if your site visitors is increasing, then that’s good news and means you and your team are doing something right (in most cases).
Building your database of prospective customers is vital for business longevity and success. If someone buys from you today, chances are high they’ll buy from you again in the future.
Your email lists can be used for email marketing and also can be uploaded into sites like Google and Facebook so you can re-market to them.
A simple way to do this is to give something of value in exchange for an email address. It’s the simplest exchange with only a small commitment from you as a business owner and the customer.
Again, measuring your email list can be a pain, but keeping an eye on the number of subscribers can be a great predictor of future sales. So keep an eye on your opt-in numbers. Some email platforms are much easier than others to get this data (which is why the tip below is so good).
Keeping an eye on your sales is a key component for any business intelligence tool or dashboard. Sales are the lifeblood of your business. If you’re winning sales, everything else can be improved and developed. If you’re not winning sales… well.. you’re about to go out of business.
So finding a dashboard that can measure these easily for you is a big bonus, and there’s one that I absolutely love – Cyfe.
Cyfe is an all-in-one online business dashboard and is in my toolkit for my business intelligence aggregation. It makes measuring SOS so much easier because everything is automated once set up.
Simply sign up and if you’re a small business, you can set up a few widgets on the free account.
So keep it to the three above initially;
- Site Visitors (Google Analytics)
- Opt-Ins (Email provider like Mailchimp)
- Sales (Link to your Stripe account)
Now you’re set to rock out with your dashboard out.
Extra tip: Create a tab that automatically opens when you open your browser – that way you’ll see your dashboard daily!