Why Numbers Matter To Successful Entrepreneurs
Posted by Wayne in Business Growth, Marketing
It’s all about numbers. Everything that needs managing needs measuring. How will you know if you’re making enough to pay all your bills? Simple. By measuring income vs. expenses.
So as the chief marketing wizard, what should you be measuring?
- Number of responses vs. number of impressions.
- Number of prospects vs. number of new customers.
- Number of repeat customers vs. total number of customers.
- Annual revenue per customer.
- Lifetime revenue per customer.
- Profit per customer vs. acquisition cost per customer.
- Purchasing cycle of your product or service.
- Number of times you’re told “NO” before you get a “Yes.”
“What gets measured, gets managed.” – Peter Drucker
I’d love to hear what other things you measure. Leave them in the comments below.
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