How is business? Are your sales up or down? Are your costs holding steady or increasing daily? Do you have enough information available to accurately answer the question? Are you SURE?
If your answer is based on sales, costs, average order value, response rates, sales per foot or any of the traditional metrics, then you are missing part of the puzzle. You have to go below the surface to find out how well your company is doing.
You need to understand your customer dynamics. How and why are they shopping with your company? Where are they coming from? What are their intentions? Are they interested in a relationship or simply a hit and run shoppers? Are your customers gaining or losing value?
What about your people, products and operations? Are your employees happy? Are your costs out of balance? Is your inventory under control? Is there enough innovation? How much does it cost to acquire a customer? Fill an order?
Giving your company a checkup is mandatory if it is showing any of the signs in this guide. It is highly recommended even if all appears to be well. Call it a wellness check and look for any anomalies that may be lurking in the depths of your data. Catching them before they escalate will save you time, money, and a whole lot of headaches.
Note: This is an excerpt from 10 Hidden Signs Your Company is Sinking. Get your FREE copy when you subscribe to our newsletter using the form below.