From the course: Start a Business Online
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Measuring your business with KPIs
From the course: Start a Business Online
Measuring your business with KPIs
- I love KPIs. Key performance indicators. You know, people kind of bandy that term around, but what do we really mean? I'm talking about benchmarking. I'm talking about dashboards and scorecards. I want to know if my business is doing well. I want to know how it's performing compared to other businesses in this similar sort of game. So there's certain metrics that I think every online business should look at. One is the number of users. The number of people who come to your website. And looking at the proportion of the new each month. It's really important to understand the bounce rate, because you might be attracting the wrong sort of customer. And if your bounce rate is over 50%, you need to work out that maybe you're not telling people the right story to attract them. You need to look at your average order size. You need to look at your conversion rate. Your conversion rate is likely to differ depending on what sort of device they're using. If they're using a desktop, it's gonna…
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