🕒: Two minutes
A lot of truth lies in Peter Drucker's axiom: "What gets measured, gets managed." If you're not measuring success from both the franchisor as well as franchisee sides, you have no way of improving your business.
Keeping track of how things work isn't the only purpose of measurement. Continual testing and iteration are also required to determine if one thing works better than another.
There are a number of metric you should be tracking such as;
- Conversion rates for campaigns, websites, social media, etc
- Website traffic (paid and organic) and clicks
- Social media follower count and impressions
- Response rates and average response time on social media channels
- Ratings
- Positive/negative reviews
- Email performance and conversion rates
- Engagement levels
- Transactions/revenue
Aside from tracking these metric, there are a number of things that you should constantly be testing such as;
- Email templates, send days and times, subject lines, CTAs, etc
- Social media campaigns
- PPC landing pages
- Website CTAs
- Local advertising channels
- Promotions, contests and offers