3 Key Business Strategy Decisions That Metrics Can Answer
Are You Crystal Clear On Your Business Strategy, Who You Serve, And How You Serve Them?
In this video, you will learn exactly how to get clarity on three key business strategy decisions using metrics. Don't forget to subscribe to my channel below and hit the bell to be notified. When I post a video every Tuesday about entrepreneurship systems and metrics.
These business strategy decisions are critical for businesses at any stage, but especially if you have a newer business or a business in transition. In fact, the first thing I do when I start working with any client is to make sure that they are clear on the answers to these questions. Looking at data and metrics will help validate any of the decisions that you are making.
The first question is where does your audience hang out?
If you've done research on your customer, avatar, or niche, you might have a good idea of this, but are you validating that idea with data? If you know where they are, when they have the mindset to take action, you can streamline and funnel your resources into those platforms, saving time and energy from the platforms that do not work to find these metrics, go into Google Analytics, then acquisition, then all traffic and then finally to the source and medium report.
Google Analytics automatically tracks where all your traffic is coming from. Based on the volume of traffic each platform is sending to your site, you can make decisions about which platforms to prioritize in your business strategy.
The second question is what topics resonate most with my audience?
Are you tired of producing content that just falls flat? You'll save time and energy. When you know what topics resonate most with your people, and you can create more content around those topics to serve them better and engage them more. This will help grow your know like and trust factor.
When it comes to metrics in your social platforms, you can see the posts that get the most likes comments and shares. If you post your content such as a podcast or videos on your website, you can go into Google Analytics, to behavior site content, and then to the all pages report to see what pieces of content are getting the most traffic comment below. And let me know what sorts of topics resonate most with your audience. I can't wait to hear from you.
The third question is, is there alignment between what my audience wants and how my offers will serve them?
It's one thing to have an audience, and it's another to get them to take that action and purchase from you. Even if you're starting with a free offer, like an opt-in or lead magnet, having data and metrics to inform and validate your business strategy around your offers is key to scaling your business.
Now, how do you find data for that? Ultimately, we are looking for the conversion rate of that offer. If you have a funnel software like lead pages or click funnels, you can find your conversion rate directly in that software.
If you have everything hooked up to Google Analytics, you can set up a goal for that offer or go back to that all pages report that I talked about in the second question, and look at the volume of visits or sessions to the confirmation, or thank you page of that offer and divide it by the number of people who landed on the landing page.
If you're ready to start making smarter decisions easily and more confidently as you guide your business to greater success, check out my Facebook group, confident and data-driven entrepreneurs. The link is below. And I can't wait to see you there. Make sure to subscribe to this channel.
Hit that like button and comment below. And let me know your biggest takeaway from this video. If you're ready to take your business and marketing to the next level, using systems and metrics, don't forget to check out these related videos on my channel. Cheers friend, to your business success!
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