Key Performance Indicators Of A Business: Are YOU Monitoring KPIs?

Key Performance Indicators Of A Business: Are YOU Monitoring KPIs?

If you’re running any kind of enterprise, monitoring the key performance indicators of a business (KPIs) will enable you to improve and optimise it. Otherwise, without knowing these key business performance metrics, you might end up years down the line, still grinding away and not seeing results…

“Hey, welcome to today’s Drive. Dean here of course, on the way to Internet Profits HQ on this fine morning.

So, the way in which we kick off our week here at Internet Profits is, we have our ‘weekly interactions’. It’s just another way of saying when the team all get together.

Not everybody can be with us, because of time differences and things like that. But we have everybody that’s in the office. And we have the other team leaders join us from other divisions – from the coaching, the phone team, etc. And we look at several things.

We’ve Been Setting Up Reports To Add Key Performance Indicators (KPIs) Into

This is something that I was able to take away from some friends of mine, with whom I was on a ‘Mastermind’ gathering recently. It’s how they structure their team, how they structure the company. How they bring everyone together.

They share in the same goals, missions, where everybody’s sharing everything… And, y’know, it’s a much, much better way of doing things than how we used to.

So, we’ve kind of just started this. Last week was the first one. But we’re still not fully into it yet. There are certain reports and spreadsheets that we’ve been setting up for people to be able to add certain key performance indicators metrics (KPIs) into. Like, key bits of data and information from their particular divisions in the business.

“What You Measure, Is What You Can Improve”

And ultimately it comes down to…

“What You Measure, Is What You Can Improve”

So we will now see, every week…

• How much traffic we generate from our ads.
• How much traffic we generate from partners and affiliates.
• How many leads we get.
• How many customers we acquire.
• How much we spend on ads.
• How much revenue we generate.
• How many applications come in for our high ticket programs.
• How many calls the team have, and how many sales were made.

Look At The Key Metrics Of Your Business And Monitor Them Consistently

All the different key business metrics, business performance metrics, KPIs…

All The Various Key Performance Indicators Of A Business

And this is what I guess I could share with you today. Obviously without knowing you personally, I can’t say with certainty what areas you need to be monitoring, and what key performance indicators you should be looking at.

But I definitely encourage you to look at the key metrics of your business. And to monitor them on a consistent basis.

If you are an affiliate marketer, for example. Then you will probably want to look at things such as

Continue reading > Key Performance Indicators Of A Business

Evaluating Sales Leads And Customers Over A Period Of Time

Dean Holland CEO of Internet Profits reveals the huge benefits to affiliate marketers and product owners of focusing upon evaluating sales leads and customers over a certain period of time.

Do you ever have those weeks where it just seems like the days are passing by, and even though you’re busy with everything and moving forwards, it just sometimes feels like;

Where’s The Progress? What’s Happening?

I think the only reason I feel like this is because we are seeing progress, everything awesome is happening.

Over the last week since we publicly launched The Perfect Offer funnel for example, tens of thousands of dollars have been generated using it – a couple of hundred customers, two/three hundred customers.

I think, right now, each customer that we basically give a free product to, is…

Probably Worth Over A Hundred Dollars To Us

It’s dropped slightly now because we had some high ticket sales early on. And whilst we’ve been getting those every day, the volume of those was higher in the first few days for some reason.

But it just goes to show really that – when it comes down to sales, when it comes down to your business – I don’t think (personally for me at least) that evaluating sales leads, analysing, gauging and what’s happening, based off one day of sales, is…

Not A Smart Thing!

You can have a day where your sales were really high, higher than your average, higher than the standard day. And then you see lower, lower sales volume the next day. You can panic, looking at it day by day – oh my gosh, everything’s amazing, and then oh my gosh, no, what’s happening?

But if I look at it as more of an average over time, you start to see what’s really happening – what are those customers worth in your business?

And then, over a period of time – what’s a customer worth after seven days? What’s a customer worth after thirty days? What’s a customer worth after sixty days?

Y’know – What Are The Averages?

And we start to average it out over that time period, and you start to see, well, this is what I can afford to spend to acquire a customer into that sales funnel...

Continue reading here: Evaluating Sales Leads

The Most Important Sales Funnel Metric – Average Cart Value

Discover why this is the most important sales funnel metric, that so many internet marketers tend to overlook, to their cost.

The big news of the day is… And this is kind of a little too early to get too excited, but…

I Really Do Like To Go Off The Data

…that I see and feel my gut instinct my gut instinct is rarely wrong. In fact, gut instincts are rarely wrong for most people.

So we opened up… after weeks of optimization and after months of building and creating… we opened up a brand new offer, with our brand new sales funnel behind it, to our Certified Partners two days ago – less than two days ago, 36 hours ago.

And we ran the numbers yesterday, just to see like what’s happening. Now don’t get me wrong, we haven’t had a serious amount of leads into the funnel. Only, I think, five or six hundred leads entered the funnel in the in the first 24 hours or so.

But What I’m Excited By, Is The Numbers That We’re Seeing

The most important sales funnel metric ultimately, for me at least… There’s a lot of people that get hung up on, “What’s the conversion rate?”

The conversion rate to me is just a vanity sales funnel metric. Does conversion rate really matter?

What really matters is… What is a buyer worth? Okay? So, how much is a customer spending?

We Have A Sales Funnel Metric We Call ‘ACV’

…which is ‘average cart value’. So, what average cart value means is, how much has a customer spent by the time they’ve completed your front-end sales funnel.

Basically, to put it in simple terms, after they’ve ordered that front-end offer, that first thing, and then seen the upsells that you presented, and they’ve basically finished that initial sales cycle, how much did that customers spend? Or how much are your customers spending on average, after going through that?

And here’s the exciting news already.

In the first 24 hours, having done five or six hundred leads through the sales funnel so far, the average cart value for the initial front-end sales funnel is… I think it was like thirty to thirty three dollars.

This Sales Funnel Metric Is Pretty Exciting!

Because whenever you start seeing numbers like that, then I know we have got a seven figure sales funnel on our hands here...

Continue reading here: Sales Funnel Metric

Growth Of Business – What Happens When You’re Not Prepared For It

Are you properly prepared and ready for your growth of business?

Here’s Dean Holland’s confession of when he wasn’t prepared for the massive, sudden growth of his business, how he got Internet Profits back on track, and the surprising lesson he’s just now learned after recently looking back on his past mistakes, which he shares with us today…

“Something Rather Special…

…rather unexpected, and rather humbling, and just amazing – mind-blowing – happened yesterday.

I speak a lot on these posts about what it is we’re working on… Like, we’ve got this new product that we’re testing and optimising, we’ve got this new funnel, we’ve got this, we’ve got that.

But I don’t get the opportunity obviously, to share everything that’s happening.

And one of the things is, about six or eight months ago we started this this phase of the company where I began to develop and renovate brand new offices for the company in the UK here.

And a few months back we moved into those offices.

Just Incredible…

…offices, if you’ve seen them on my social media at all, that we’ve built. I’ve gone for this amazing atmosphere for the team, and have now got this amazing team that all work together.

But one of the things is, that took place during this time… Is that I pumped so much into the growth of business, so much of my funds into the business to do what we’ve been doing.

And at the same time, while that was happening, we were also…

Going Through A Growth Of Business Transitional Phase…

…where we wanted really to change our products, change our messaging and, in doing so, change who we attracted into the business – change the type of customer we appeal to.

I won’t go into the reasoning behind that today, but essentially what it meant was, outgoings went through the roof, income was declining because of all of this, and I went through… well, for the last last 12 or 18 months we’ve been slowly doing that, but what happened is…

Before I built this office, and before I built the team, we went through a huge growth of business stage. We literally went from like…

$100K A Month To Over $300K A Month, In 2 Months Or So!

And we just weren’t prepared....

Continue reading here: Growth Of Business

What Is Each Customer Or Email Subscriber Worth To Your Business?

Do you know with your business, whether you’re an affiliate marketer, you’ve got your own products, whatever it is that your business model is.

Do you know what a customer is actually worth to your business? Or do you know on average how much a subscriber on your email list is worth to you?

For example, if you had a thousand subscribers and you make a thousand dollars a month, then on average each subscriber will be worth a dollar, right?

So, Do You Know That Number?

That’s when you can really take hold of the stats, numbers and metrics of your business. What that actually tells you is, how much am I earning on average for every person I add to my list. And then how much on average am I earning for every customer.

Because when you know what a subscriber is worth, then you know ultimately what you can spend to get them.

Now as a whole, for most people, that never been a simple metric to work out. But in its most simplistic form, just look at how many people on your list and how much you made that month. So last month, if you had 10,000 subscribers and made $5,000, a subscriber would be worth 50 cents, right?

Then just keep a gauge on that every month in your business. Perhaps just have a spreadsheet and you keep it written down just on a monthly basis how much did I generate last month, how many subscribers were on my list… And just keep a record of that. And you’ll start to hopefully see…

Now, one of the things that happened with me, if I go back to when I first started building my list…

Early On, I Was Able To Generate $1-2 Per Subscriber

…on my list. And so, as my email list grew, with my first 500 subscribers I was making anywhere from 500 to a thousand dollars by sending email promotions as an affiliate marketer (I didn’t have my own products at that stage)

One of the things that I found – this may not be true for everybody – but as my list grew, the average value of my subscriber actually...

Continue reading here: What Is Each Customer Or Email Subscriber Worth To Your Business?