Question: What is a creative way that I can show positive growth in my internet company besides looking at direct traffic or total users?
Question by: Ashley
Page Views Per Visit Pay Off
"I run a social network, and my team is obsessed with page views per visit. Page views per visit measures the number of times a visitor clicks on a different page on your website. For my team, we interpret a high number of page views per visit as a measurement of happiness. We believe happy visitors stick around for a long time and read a lot of your content in a single visit."
A 360-Degree Approach to Growth Benchmarks
"While traffic is essential to business growth for an online company, develop qualitative metrics with a 360-degree approach in mind. Growth benchmarks should include press hits from strategic media relations plans, email subscription base growth, lead generation tactics and customer relationship management (CRM) activities that nurture your current base and drive additional revenue streams."
Positive Trend in Customer Reviews
"Track what your customers think of your product or site. As you improve the product, they will recognize you with better reviews. Demonstrating that you have continued to improve in customers' eyes is the best way to show positive growth."
Brand and Product Commitment
"There are many companies that boast about massive mailing lists and thousands of users, but what makes a company valuable is the level of interest and loyalty your customers demonstrate towards your brand. This can be converted to monetary equity and rapid growth quite easily. Ask your customers for a favor and objectively track the number of customers who follow through. Then share your results."
Social Media Numbers Don't Lie
"Everyone loves a hockey stick graph! Show growth via engagement numbers, like growing number of social shares, impressions, Facebook Likes and fans, etc. These numbers are great evidence of your social media presence and overall likability."
Cumulative Time on Site and Revenue
"Looking at cumulative time on site or cumulative revenue will always create a graph that goes from the bottom left corner to the top right corner. You can also look at customer and order milestones (10,000 customers, 100,000 customers), increase in average order size, improvements in conversion rates, and finally -- and perhaps most importantly -- increases in revenue and EBITDA."
Conversion Rates -- The Forgotten Goldmine
"When business owners want to increase sales, most default to trying to increase traffic to their website. Though that may seem like a no-brainer, a more effective solution is often missed -- conversion rates. Often a quick study of your visitors behavior on your website, as well as small tweaks to improve their experience, can quickly increase your conversion rates, and in-turn, your sales."
Can I Get a Witness?
"Ask your users for their testimonials! You will get very useful data and feedback regarding what your users find valuable about your company allowing you to focus on positioning your brand. Find a way to feature your customers and their testimonials, and they will want to share it with their networks, assisting you in your marketing."
The Young Entrepreneur Council (YEC) is an invite-only nonprofit organization comprised of the world’s most promising young entrepreneurs. The YEC recently published #FixYoungAmerica: How to Rebuild Our Economy and Put Young Americans Back to Work (for Good), a book of 30+ proven solutions to help end youth unemployment.