Every business person wants to stimulate the growth of his/her business company. Focusing only on the number of sales will not tell you what is or isn’t working for a company. A rate of growth depends on many factors.
Primarily, it is important to know which exact metrics to track to drum up business. In this guide, we will show you some important metrics to track that can help you understand that an online writing company will work well for you and your demands, a kind of “Write my essay fast!” or “Do my research urgent paper”. If you really want to know how a writing business is doing, you need to keep track of some of its key performance indicators (KPIs). Let’s describe them in detail.
Key Performance Indicators: What Are They?
Key performance indicators (KPIs) are specific numerical metrics with the help of which companies measure their progress towards a certain goal. There are some KPIs that should be tracked for your company to make adjustments to various budgets and strategies. Your company may make and report misleading information if you do not have the right ones. KPIs provide you with information about your customers and business, so you can make strategic and informed decisions.
KPIs are not important on their own – their real value lies in the actionable insights you get from the data analysis. This will allow you to devise strategies to drive more sales while also understanding where the problem in the business may be. There are 3 main KPIs these writing companies can track.
1. Marketing KPIs
Marketing KPIs can help businesses to achieve their desired goals such as improving the subscriber base, generating more leads, and increasing trust and awareness.
- Conversion rate. Every writing business owner is interested in how many people purchase their services. Conversion doesn’t always mean buying, it could be visitors downloading an ebook, signing up to a newsletter, or contributing to a cause. When trying to reach a certain conversion rate, it is also important to analyze why a large percentage of your visitors are not converting.
- The number of qualified leads. It is one thing to have a high number of visitors to a web page; it is another for those visitors to be qualified leads that meet the criteria set for high qualification. It is common for many business owners to get excited over what is commonly referred to as vanity metrics. But it is important to identify if they meet your qualifying criteria.
- Awareness level. When a custom essay writing service is being pushed out there, it is vital to know how effective the marketing strategies There are a number of factors that show the level of awareness of writing services. By getting a breakdown of a traffic source, a business owner can gauge the percentage of those who already know about the services and the new visitors and where they are referred from. After tracking the current status, it is possible to start to work immediately towards increasing the traffic to a website based on the results.
2. Sales KPIs
This will help know if a professional writing service is doing enough to achieve the desired goals.
- Sales conversion rate. This is a metric to watch the number of sales a writing company is generating. It gives a variety of data about sales conversion rate such as the number of transactions, total revenue, and quantity of items purchased. This metric also tells where the highest converting customers and the biggest spenders are coming from. This data can help a writing company to make informed marketing plans.
- A time before purchase. Most companies tend to overlook this metric and just focus on the conversion without bothering to know how long it takes to convert a customer. Now, it does not necessarily mean trouble if it takes customer visits to a site before buying any of writing services – essay writing or research paper editing. Maybe, they need time to get acquainted with the services offering online or for other acceptable reasons – to make sure that their papers will of high quality. This metric is measured by a minute, hour, day, week, and month.
- Average order value. If one service is sold, it is easy to understand that every conversion leads to a certain amount of money. However, if multiple writing services are provided, it is important to know the average value of each order. This metric allows knowing how effective the strategies are in converting customers.
3. User Experience KPIs
Customer experience is another important KPI that may affect the growth of the online writing business. It is important that both mobile and desktop visitors on the website get the best experience. The loading speed has to be fast enough so as not to discourage them from leaving the site.
Customer satisfaction is highly subjective, so it is quite hard to track. One of the most innovative and qualitative ways you can measure customer satisfaction is through surveys or comments. Look through them to make sure, “Yes, it is what I’m looking for. I’ll have my essay written fast!”
While writing services are implementing all these KPIs today, you can track your own progress in fast writing. This is a sure way many professionals can understand where they stand at the moment and how they plan to have stronger businesses in the future.
Students can benefit from a fast essay writing service in several ways. These professional writing services have numerous provisions to cater to the different needs of students. They are a source of writing a high-quality essay and they offer a quick and affordable service that can help you succeed in your academics. If you need to write an article within 2 or 24 hours and you are not fast enough, a writer can deliver it on time. So you can meet the deadline even at the last minute. So don’t worry when you have an urgent or instant assignment you have to complete. Just order it online!