How to Measure Business Growth

There is a lot of contention these days about measuring business growth and ROI. With the boom of social media taking the forefront in a lot of businesses’ marketing campaigns, the problem comes to play with the lack of metrics available for this type of marketing tool.

It’s become discouraging to a lot of prospective social media users because they have a hard time buying into a product that offers little in the way of traceable returns.

By applying a few simple measures to your business social media marketing plan, and watching a few traditional gauges, even in these web-based times, you do have the ability to measure your business growth.

Track with bit.ly Links for Social Media Efforts

Bit.ly is a link shortening site that is best suited for twitter or other social media content posts. The links can go to any site you want to drive traffic to and improve ranking, and can be tracked in real time based on the geographic location and specific content that drew attention.

Monthly reporting can be done to gauge how much more business is potentially being brought in by your social media marketing efforts.

Compare Numbers

Look at the pertinent numbers that show business growth on a quarterly basis to assess your success.

– Are you seeing more web traffic than last quarter?

– Has that traffic translated into higher conversion rates of customers?

– Are you making more money that last year and still maintaining the same, or similar, overhead costs?

See What the Word Is

Keeping tabs about what’s being said about you or your business online is a good way to gauge your business growth. Word of mouth is powerful marketing, and the more buzz going on about you or your products and services can ensure continued reputation building and future business growth.