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Ditch or Toss: The Most Meaningless Business Metrics

Numbers matter, as they should with business owners connected to the bottom line. And the democratization of analytics has made number-crunching much more accessible to everyday Joes and Janes operating small and mid-sized companies. But all measures don’t demand the same level of consideration when it comes to your business. Some don’t correlate with productivity,…

Numbers matter, as they should with business owners connected to the bottom line. And the democratization of analytics has made number-crunching much more accessible to everyday Joes and Janes operating small and mid-sized companies.

But all measures don’t demand the same level of consideration when it comes to your business. Some don’t correlate with productivity, conversion, performance or true success. That’s why these are some default business metrics you can probably discard, as they may not matter as much in 2016 and beyond.

Chronological Superlatives. These days, seniority alone is not what it used to be. Trust, loyalty and patronage are earned by personal experience, innovation and peer reputation, not just because a company is the first, founding, oldest or most established.

Traffic. Attracting people to your website is positive, on the surface. But more important is whether they stay on or return to your site, and eventually go from casual visitor to repeat guest and from prospective lead to revenue-generating customer.

Not everything that can be counted counts, and not everything that counts can be counted. – Albert Einstein

Subscriber Base. If you have an opt-in newsletter or other distribution, it’s important to keep a steady base of recipients. But ask yourself, is that subscriber list growing or stuck in stasis? Are they opening and clicking through those emails, engaging with actual content and taking action?

Talk Time. A personal touch still matters in many industries, but the length of time speaking to someone itself doesn’t indicate prospect viability. Talk time, in isolation, is about quantity, in an era where the emphasis must be on quality, connection and content.

Call Volume. Also known as “dials,” in sales roles this metric has been valued as a showing of sales rep productivity. But picking up the phone frequently – and fast – doesn’t correlate with true linkages.

Are you inspired to ditch, toss and throw out business metrics or stats you’ve been monitoring for a while? What numbers in your field or industry are ripe for an overhaul? We’d like to hear on our eaHELP online Facebook community.

 

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