Are you using data to guide your business to success?
As a business owner, it is easy to get bogged down in day-to-day operations. Each day brings new challenges requiring decision-making. We all know informed decision-making is best. Being informed requires time, time you think you don’t have.
The truth is you can’t afford NOT to take the time to use metrics and analytics to inform your decision-making. Analyzing your metrics allows you to be agile, to make changes supported by data rather outdated and unreliable "best practices".
The good news is that you have the tools to leverage analytics which will ultimately save you from costly mistakes, guide your decisions, have better marketing, and more satisfied clients.
Let me break it down for you. It's all about identifying those key performance indicators (KPIs). KPIs are used to help businesses understand how well they are performing and where they need to focus their efforts to improve.
LinkedIn provides a host of metrics to improve your performance on the platform. It is also important to identify non-LinkedIn KPIs for your business.
LinkedIn provides analytics for your personal professional profile and for your company page. These numbers will give you the insight needed to get better engagement, increase reach, and inform your content strategy (e.g. text v. video posts). If you hadn't seen your analytics lately, it's probably because they moved! They are now at the top of your profile for quick and easy use!
Here are the numbers LinkedIn provides to help you grow!
From Your Personal Profile:
Additional Metrics from Your Company Page
Additional KPIs for Your Business
Beyond what LinkedIn provides, you can identify other relevant KPIs by focusing on these factors:
1. Define Your Business Goals
2. Identify How You Will Know if You Are Making Progress (e.g. sales, email open rates, A/B testing)
3. Prioritize - you don't need to track every KPI - start out with 5 and tweak as needed
4. Be Consistent or don't bother
The importance of metrics and analytics for small businesses cannot be underestimated. By tracking and analyzing data, small businesses can make more informed decisions, increase efficiency, and improve performance. Start taking advantage of LinkedIn's Analytics and creating the additional KPIs for YOUR business. Simply put, taking a data-driven approach to your business can help you achieve greater success and growth.