Tracking KPIs for business growth

Send us a textIn this engaging episode, Andi and Tori delve into the crucial role of Key Performance Indicators (KPIs) and metrics in assessing the vitality and success of a quilting or craft business. They clarify the distinction between revenue and profit, highlighting profit's paramount importance as a business health indicator. The conversation further explores the concept of return on investment (ROI), emphasizing the need to account for indirect costs when calculating ROI. The hosts examine essential KPIs for email lists, such as open rates and engagement levels, and offer actionable advice for refining email marketing efforts. The episode wraps up with a call to consistently monitor and analyze metrics, urging a long-term view in gauging business success.TakeawaysRevenue is the money coming into a business, while profit is what remains after deducting expenses.Return on investment (ROI) measures the gain or loss generated from an investment relative to its cost.Indirect costs, such as time spent and overhead expenses, should be considered when calculating ROI.Key performance indicators (KPIs) for email lists include open rates, engagement, and unsubscribe rates.Tracking landing page performance and customer satisfaction and retention are crucial for business success.Customer acquisition costs should be monitored to ensure profitability.Consistency in tracking metrics and maintaining a long-term perspective are essential for evaluating business success.Learn more about Tori & Andi here.Click here to sign up for their weekly newsletter to stay up-to-date on all things Quilting on the Side. If you want more support with your quilting business, make sure to hit follow.