What Every CEO Needs to Know About Their Biz: 4 Metrics to Track for Success in 2024

We’re halfway through the year, friends. If you were able to crush your goals from January to June, congrats! High five from right here. 

But if you feel like you’re wandering the desert, with no clue if what you’re doing is even working…well, we’ve all been there. This entrepreneurship thing can get tough, even a little bit messy. 

When you’re scaling, growing a team, and entering uncharted territory as you do, it’s easy to get lost in the weeds. 

But there’s only one way to know for sure if you’re on the right track. Or, if it’s time for a little TLC and fine-tuning to get you there. You have to look at your metrics.

The numbers tell a story — and it’s not a work of fiction. It’s a real-life, tell-it-like-it-is documentary detailing what is, or isn’t, working in your business. 

If you’re a CEO looking to figure that out, here are 4 key metrics to track ASAP!

Metric Group #1: Your website

One of the biggest indicators of a healthy, growing business is how well a website is doing. All roads, all touch points of your marketing, lead here. It’s where your clients book a discovery call, buy a product, or view your services to learn more. 

The biggest thing to note? Healthy metrics show interest!

But it’s not only about website traffic. To get a feel for how your website is doing, take a look at: 

• Time spent on each page: Are they taking a long hard look at a particular offer page? Your services? Your blog?
• Bounce rate: With websites, that means how often visitors are landing on your site, not engaging, and then leaving.
• Where people are clicking, and how often
• Visitor behavior: Are they going from the home page right to the services? Are they ending sessions after looking at the about page?
• Loading speed: A low loading speed is a surefire way to deter folks from taking a look around!
• Where traffic is coming from: This could be social media platforms, email, ads, etc. 

Because every website provider or domain host is different, the easiest way to track your website analytics is by using Google Analytics! It’s totally free as long as you already have a Google account. Get set up by following the tutorial here!

Metric Group #2: Social Media

The platforms you’re active on will determine what you need to track specifically. But generally speaking, you can gauge the health of your social media accounts by looking at: 

• Engagement rates (likes, comments, saves)
• Video views 
• Subscriber or follower count 
• Click-though-rate (where applicable)

Now, you may have heard some of these metrics referred to as “vanity metrics” before. I would *humbly* disagree. At least partially. 

Does everything depend on follower count? Absolutely not! You could hit the IG gold mine and go viral, wind up with thousands of new followers, but still not be anywhere closer to your overarching business goals. 

Why? Because they aren’t qualified leads. 

That’s just one example, but metrics like these are important because they come together to tell you whether or not your audience is interested in your content, and what you’re offering them next (example: “link in bio to sign up for [insert offer].”) 

The truth is, you could have a ton of new followers, but if no one is clicking the link in your bio to learn more about your offer, it isn’t translating to more sales. No one piece of information should dictate success. Take it all in and look at the story they’re telling together — that’s how you gauge what’s really working. 

Metric Group #3: Email Marketing 

A healthy email list is based on several things:

• Bounce rate: Here, it means whether or not the email can be delivered to the email address. If high, it can tank your sender reputation with your email server!
• Spam rate: If folks are marking spam, it can also tank your sender reputation. It can also mean you’re sending emails too often, the unsubscribe button is hard to find, or your content feels “spammy.”
• Open rate: A high open rate means people are excited to hear from you!
• Click-through rate: Just like your website, a high CTR means that folks are interested in learning more! 

Unlike social media, you have control over your email list. You can see who gets sent what, and when, so make sure you’re taking care of it and paying attention to these metrics often!

Metric Group #4: Funnel metrics

Are you tracking the effectiveness of your funnels? If not, I highly recommend you start doing so ASAP! In such a competitive space, where attention feels finite, you have to make sure what you’re doing to get that attention is working. 

Whatever it is you’re offering, noting what’s happening at each stage can give you a peek into what your audience is thinking. 

Funnel metrics example: Your freebie

Let’s take a freebie for example. You have a PDF checklist that people can download through the link on your social media profile. Once they grab it, they’re automatically placed in a welcome email sequence that tells them who you are, what you do, and how they can work with you. 

What happens during that process is telling. Do you have a higher click-through rate on emails with additional free resources like blogs or podcast episodes? Are open rates dropping off after the delivery of the freebie? 

Once they get to your website, are they poking around and finding out more information? If they’re funneled into your higher ticket offer, what’s the average cost of the cart? Are they purchasing additional add-ons or bonuses? 

These stats can tell you if that funnel is really, truly, working! It’s not all about supply, demand, and sales. 

Don’t want to track your metrics? I got you!

Data tells a story. But you won’t know what that story is until you do the work of pulling it up and analyzing it. Put some time on your calendar this week, month, or even quarter — whatever floats your boat — to get a read on what’s working (or what isn’t). You may find yourself surprised at what you find!

Feeling less-than-enthused about metric tracking in your biz? Give me a ring! I’m happy to help. Let’s see what kind of plan we can cook up together — schedule a 1:1 with me here!