What metrics should you track in your business?

Digital Marketers Ryan Deiss answers the question,what metrics should you track in your business?

 

 

Ryan Deiss of Digital Marketer gives us some Deiss advice on the two metrics you should always be tracking in your business.

You need to always be asking yourself this question:

 

Did I make more money than I spent?

If the answer is yes keep going, keep spending – it’s working.

If the answer is no, dig in and find what’s broken, what didn’t work.

 

Your aim is to grow your business and make more money.

 

There are two key metrics to track when it comes to evaluating your business:

 

1. COST OF ACQUISITION – COA

How much does it cost YOU to acquire a customer.

 

2. IMMEDIATE CUSTOMER VALUE – ICV

What is a customer worth to you immediately.

 

As long as your immediate order of value is higher or equal to your cost of acquisition – keep going!

It’s the safest and simplest way to do it.

 

How do you influence these numbers?

1. Focus on improving your conversion rate.

2. Have a conversion funnel:

The opportunity for your customer to ascend, upgrade and buy additional products and services.

This now increases your immediate customer value so you can spend more on acquiring more customers.

To see an example of a fully gamified, value driven conversion funnel click here

 

“He or she who is able and willing to spend the MOST to acquire a customer WINS”

 

 RELATED ARTICLE: Ryan Deiss of Digital Marketer breaks down the $1000 a month blog plan

Ryan Diess $1000 Blog Plan

Share your thoughts

36 thoughts on “Digital Marketers Ryan Deiss answers the question, what metrics should you track in your business?

  1. Great post with tons of value. The video rocks. The bottom line is spent the money to get results. How effective are the results, you don’t really know until you measure.

Leave a Reply

Your email address will not be published. Required fields are marked *