Welcome back! In this insightful episode of The Modern Hairstylist Podcast, I am introducing the importance of tracking metrics in order to evaluate the health of your business while staying on track towards achieving your personal goals.
While it may not be the most exciting activity, tracking metrics is absolutely essential if you want your business to succeed. I touch on five unique metrics business owners should consider and track, to help them achieve the best results. If you take your metrics and numbers seriously, you might just create the life you've always wanted, full of wealth, freedom, time, energy, love, passion, and fulfillment!
In the first segment, I start his metric discussion with website conversion rate. This is so important because it allows you to evaluate how effective your website is at speaking to your customers' needs. By optimizing your website, you become absolutely worth it to website visitors, that is when they will want to go ahead and take the next step.
The next metric I dive into is your percentage of retail / percentage of gratuity to your total revenue. I want emphasize the importance of understanding where revenue comes from because when you understand this, you can get to your end goals that much faster!
I will also highlight how average tickets can help you to plan ahead. Who doesn’t want insight on how to plan ahead? It is also key to understand the importance of your new client retention rate in correlation with existing client retention rate. You must first understand one before you can really understand the other! It's then that you can provide an amazing experience, for both yourself and your customers.
You don’t want to miss this perceptive episode of The Modern Hairstylist Podcast, where I provide you with helpful insight into the keys to success in the salon business industry.
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