The plan focuses on enhancing performance through key metrics such as Instagram Engagement, Website Traffic, and Customer Retention. Measuring Instagram Engagement helps in assessing the level of interaction with the audience, with tactics like collaborating with influencers to boost this metric. Website Traffic is crucial for understanding audience reach and can be improved by optimising SEO. Retaining customers is essential for business longevity, with loyalty programs serving as a powerful tool.
Top 5 metrics for Performance Management
1. Instagram Engagement
Measures the level of interaction (likes, comments, shares) relative to the total follower base
What good looks like for this metric: Between 1% and 3% engagement rate
How to improve this metric:- Post consistently and at optimal times
- Utilise engaging and relevant hashtags
- Encourage user-generated content
- Collaborate with influencers
- Run interactive polls and Q&As
2. Website Traffic
Tracks the number of visits to a website over a specified period
What good looks like for this metric: 1000 pageviews per day for small to medium sites
How to improve this metric:- Optimise website for search engines (SEO)
- Promote website across social media platforms
- Invest in pay-per-click advertising
- Create engaging and relevant content
- Ensure website is mobile-friendly
3. Customer Retention
Measures the percentage of customers who continue to buy over a certain period
What good looks like for this metric: Above 75% retention rate
How to improve this metric:- Implement a customer feedback system
- Enhance customer service response times
- Develop a customer loyalty program
- Personalise customer communication
- Ensure product quality and reliability
How to track Performance Management metrics
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your metrics.
