What Should I Be Tracking in My Small Business? 4 Practical Tips from an Indiana Marketing Agency

At Stillwell + Co, we are dedicated to being a part of building small businesses like yours with practical, tangible metrics and tips that take you from today to the future of your business! So if the question “what should I be tracking in my small business?” has been on your mind lately, keep reading!

Whether you're based in Frankfort, Indiana, or Lebanon, Indiana, understanding these important business metrics will help you make informed decisions about your business growth!

Basic Business Metrics

First up, let's talk about the metrics every small business owner needs to know to set their business on the path to growth! These include:

Revenue

To make sure your finances are healthy and growing, keep an eye on your income.

Expenses

Find out where you can reduce costs and increase profits by tracking your spending.

Referrals

Measure how many new customers come through referrals/

Client Leads

To gauge the success of your sales efforts, monitor your pipeline.

Tracking these basic business metrics is the first step to measuring your growth and predicting for the future.

Social Media Metrics

In today's digital age, social media presence is non-negotiable for small businesses. To know how your business is performing on social media, you’ll need to see the numbers. Here's what you should be tracking on social media:

Reach

The number of unique users who see your content.

Impressions

The number of times your content is displayed.

Follows

Monitor your follower growth across platforms to assess your audience engagement.

Saves

Track how many users save your posts, indicating valuable content.

Facebook vs. Instagram vs. LinkedIn vs. Twitter

Understand which platforms resonate most with your audience and allocate resources accordingly.

If thinking about tracking social media metrics makes you want to hide and not come out, let us know, we can help with that.

Employee Turnover

High turnover isn’t good for you, your team, or your customers! It’s important to keep taps on: .

Employee Turnover Rate

The percentage of employees leaving your company within a given period.

Retention Strategies

Implement initiatives to foster employee satisfaction and loyalty, reducing turnover.

A team is only as powerful as they think they are! Having a strong, consistent team is crucial for strategic growth, customer satisfaction, and team morale!

Operational Efficiency Metrics

Efficient operations are vital for small businesses. While every business is different, and product and service-based businesses will measure differently, you can get the general idea of what numbers matter. We recommend tracking…

Production Output

Track how much you produce or deliver in a given timeframe.

Service Times

Monitor the speed and quality of your service, delivery, and response rate.

Resource Utilization

Assess how effectively you're using your resources, such as time, materials, and equipment.

Numbers aren’t always fun, but they’re important things to be aware of! Tracking these metrics can help small businesses like yours achieve growth a little bit faster.

At Stillwell + Co, we're here to support your journey. If you’re ready to take the next step in growing your business with strategic direction, book a consultation with our team today. Whether you're in Frankfort, Indiana, or Lebanon, Indiana, we will find success together!