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Key Performance Indicators: The Numbers That Count

A puzzled look crossed her face.

The young lady looking at me aspired to be a freelance digital media designer.

We were talking about the freelancing life, and I’d just recounted a few things I was working on…

She asked, “Well, how do balance it all?”

I had to laugh.

Balance? BALANCE!??? You’ve got to be kidding!

Now don’t get me wrong.

I take care of myself — sleep, nutrition, social life…

But the reality is, if you’re obsessed with your work, if you love what you do, it’s hard NOT to look like what others label as a “workaholic”.

This week ends Q3, and then we’re on to the mad rush into the holidaze and end of year.

A good time to check metrics.

Why?

Numbers translate vague ideas about how you think you’re doing into actionable data you can work with to actually get where you want to go with your business.

Here’s a quick checklist for you, from Dan Kennedy’s book, No B.S. Ruthless Management of People and Profits:

ATV – Average Transaction Value gives you a thumbnail idea of how much you can spend to acquire a customer.

CPL – Cost Per Lead: The money spent bringing an ideal customer into the buyer’s journey we’ve mapped out for him or her.

LCV – Long-Term Customer Value: Average sales per customer over 12 months x your average net profit percentage x the average number of months or years you retain a customer

EIED – Enough Is Enough Deficit: Assuming at least on big reason you’re in business is to grow wealth toward retirement, EIED is the difference between how much you need to have in the bank to retire in comfort and how much you have today.

Just something to reflect on as we barrel into Q4.

Do you check your business’s KPI’s (Key Performance Indicators) often?

How frequently?

Questions on how to get more sales with copy that sells?

Give us a shout here.

 
About The Author

Mike Connolly

Dan Kennedy Certified Copywriter for Info-Marketers and Infusionsoft Certified Partner, Mike Connolly lives in Boulder, Colorado, builds marketing funnels that rock, and loves cycling (almost) all year round.

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