Trackable Data

January 22, 2025

By: AMG Assured Solutions

Tracking data is crucial for small businesses to understand their performance, optimize operations, and make informed decisions.  

Here are examples of trackable data across various aspects of a small business:

Sales and Revenue

·      Total Sales: Daily, weekly, monthly, and yearly.

·      Revenue by Product/Service: Identifying top-performing items.

·      Customer Acquisition Cost (CAC): How much it costs to acquire a customer.

·      Average Order Value (AOV): Average spend per transaction.

·      Customer Lifetime Value (CLV): Revenue a customer brings over their relationship with the business.

·      Sales Conversion Rate: Percentage of leads that convert into paying customers.

Marketing

·      Website Traffic: Number of visitors, sources, and demographics.

·      Social Media Engagement: Likes, shares, comments, and follower growth.

·      Email Campaign Metrics: Open rates, click-through rates, and conversions.

·      Return on Ad Spend (ROAS): Revenue generated per dollar spent on advertising.

·      Lead Generation Metrics: Number of leads captured through forms, events, or campaigns.

Operations

·      Inventory Levels: Stock tracking to avoid shortages or overstocking.

·      Order Fulfillment Time: Time taken from order placement to delivery.

·      Supply Chain Efficiency: Lead times and vendor performance.

·      Labor Costs and Hours: Tracking employee productivity and scheduling.

·      Client-friendly Servicing Costs: client-facing third-party apps and/or software.

Customer Experience

·      Customer Satisfaction Score (CSAT): Feedback on service or product quality.

·      Net Promoter Score (NPS): Likelihood of customers recommending the business.

·      Customer Retention Rate: Percentage of returning customers.

·      Response Time: Time taken to respond to customer inquiries.

Financials

·      Profit Margins: Gross and net profit margins.

·      Cash Flow: Inflows and outflows of cash.

·      Expense Tracking: Categorizing and monitoring business expenses.

·      Debt-to-Income Ratio: Assessing financial health.

Employee Performance

·      Task Completion Rates: Efficiency of team members in completing assigned tasks.

·      Employee Turnover Rate: Tracking hiring and retention trends.

·      Training Effectiveness: Measuring post-training performance improvements.

 Industry-Specific Metrics

·      Table Turnover Rates: For restaurants, the average time customers occupy a table.

·      Billable Hours: For service businesses like consultancies or law firms.

·      Occupancy Rates: For hotels or real estate businesses.

·      Service Uptake: For fitness centers or subscription-based models.

By analyzing these data points, small businesses can identify trends, optimize resources, and improve decision-making.

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