Your Online Batting Average

Every sport has it’s key metrics.  In fact, most die-hard sports fans know the stats of their favorite teams and players.  In football, it’s not just winning percentage, it’s yards per carry, number of sacks, percentage of completed passes, etc.  In baseball, it’s things like batting averages and ERA’s.

Why are these numbers so important, and why is it that so many people understand them?

Because they are indicators of performance.  And when you are loyal to a team, you want to be able to measure how they are doing.

If you want to win at anything, you have to be able to track your performance.

Sadly, many business owners who advertise online, are not making the leap from understanding sports statistics to understanding a few key metrics about their advertising.

If that’s you, it’s time to “get in the game,” so to speak.

The reality is, you can understand this as easily as the few stats you know about your favorite sports team.  You just have to start thinking along the same lines.

Your business IS your team…it is YOUR game.  So, what stats are you going to track?

Thankfully, there are just a few stats that you need to be watching to have all the knowledge you need to measure you and your team’s performance.  In advertising talk, we call them KPI’s or “Key Performance Indicators.”

First, let’s talk about your team stats.  That’s your business.  These are what we’d call “Business Performance KPI’s.  Here are the ones you must track…

CPL – Average Cost Per Lead
RPL – Average Revenue Per Lead
CPS – Average Cost Per Sale
RPS – Average Revenue Per Sale
LTV – Lifetime Customer Value

Now let’s talk about your individual player’s stats.  These are what we’d call “Advertising KPI’s.”  These are listed in order of importance…

Revelance – Relevance Score (Facebook), Quality Score (Google)
CTR – Click Through Rate
CPC – Cost Per Click
CPA – Cost Per Acquistion
CPS – Cost Per Sale

If you look at these two lists, you’ll see there is a very finite list of items to track.  This is LESS than the amount of stats you follow for your favorite player and your favorite team.

So, start tracking your KPI’s…it’s time to take your business to the World Series!

 

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Jeff Schechter

With the soul of an entrepreneur, and many business ventures under his belt, Shecky is the Marketing Director at Black Box Social Media LLC, (BBSM) an online marketing company that uses the latest digital marketing strategies, such as video marketing and pay per click marketing, to allow businesses to get found and generate leads online. Shecky is passionate about training and coaching other entrepreneurs to achieve high levels of success in their own online marketing ventures.

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About The Author

Jeff Schechter

With the soul of an entrepreneur, and many business ventures under his belt, Shecky is the Marketing Director at Black Box Social Media LLC, (BBSM) an online marketing company that uses the latest digital marketing strategies, such as video marketing and pay per click marketing, to allow businesses to get found and generate leads online. Shecky is passionate about training and coaching other entrepreneurs to achieve high levels of success in their own online marketing ventures.

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