Business on Main recently offered several excellent suggestions of how an online company can show growth. These suggestions include conversion rates, page views per visit, decreases in bounce rates. A great as the suggestions Business on Main offered, I do think they missed a few other metrics that online business owners could use to show growth. Here are four more ways to show that your online company is growing:
Although the Business on Main article mentions social media shares and impressions, a great way to measure growth is to show the number of subscribers you’ve earned over time for your blog (you better have a company blog as this point). Hopefully, your blog has a way for readers to subscribe, either through email or through the RSS feed.
Number of Leads Generated
Conversion rates is a good one. But, the number of leads generated is also part of that picture. You need leads in order to have a conversion rate greater than zero. If you increased the number of leads you generated while you increase your conversion rate, then that’s great! To increase the number of leads you’re generating, make sure you’re capturing visitor information through free giveaways and calls to action.
If you’re an online company, then it’s probable that you have an e-commerce store of some sort. Another way to show that your company is growing is show the number of online sales you have over a period of time. If people are visiting your site and making purchases, then that’s something that you want to show off. Growth could also be demonstrated if you have an increased number or variety of products/services offered an increase in the number of items purchases or the average dollar amount spent per purchase.
Even through customer reviews show the quality of your products/services, something that shows your online company is generating buzz is the number of press and news appearances that you have had. Has a major publication interviewed you, or reviewed your product? Were you able to write a guest post for a blog catering to your target market? Those sorts of things show influence and interest in what you do, which definitely demonstrates growth.
Overall, if may be difficult to show that your online company is growing, since you don’t necessarily have a brick-and-mortar or an office space to show for that growth. But, for many, numbers can tell a more compelling story, and there are tons of numbers and analytics out there to show if, and how, your online company is growing.