Metrics Schmetrics! 🤨
𝐌𝐞𝐭𝐫𝐢𝐜𝐬 𝐒𝐜𝐡𝐦𝐞𝐭𝐫𝐢𝐜𝐬…..🤨
We know that looking at your metrics on a consistent basis and understanding all your KPI’s may not be the highlight of your week. But, once you realize that by reviewing your monthly reports you can find hidden profit points, growth opportunities, and higher returns on investment, metrics will become your best friend! When you start looking at your performance metrics on a regular basis, you can learn EXACTLY where to focus for increased profits (and which things you don’t need to waste any more time on).
You can keep track of your performance metrics on a daily, weekly, and/or monthly basis. Ensure that you are tracking the same reports and metrics month-to-month. We suggest recording your metrics on a Performance Metrics Dashboard to increase efficiency. A dashboard is to help improve key performance against specific goals. It’s important that you review these metrics with your team frequently.
Here are some suggestions of performance metrics that you should be monitoring:
– A Monthly, High Level, Business-Wide Overview
– Annual Profit and Loss Goal & Budget Forecast
– Monthly Financial Profit and Loss Statement
– Practice-wide Key Performance Indicators
– Client Experience Metrics
– Team-specific Performance Data
– Marketing Statistics and ROI Analysis
There are so many beneficial metrics that you can track, and it’s essential that you understand what they mean for your business. Check out some of our earlier “𝐌𝐞𝐚𝐬𝐮𝐫𝐢𝐧𝐠 𝐔𝐩” posts which explore in detail some of the measures you should be using for your aesthetic business.
If metrics is just not your cup of tea, considering allowing us to set up customized dashboards for your business! We will do all the leg-work including the analysis and then review the results, patterns, and progress with you on a monthly basis. Learn more here.