Measuring the performance of your freight dispatcher business consists of a business review and forecast at the same time. Key metrics are indicators of the health of your business in enabling greater efficiencies, or indicating where improvements can be made. If you don’t have a solid business plan, this freight dispatcher business plan will help make needed improvements. The following key metrics offer an informed snapshot of your freight dispatcher business.
1. Customer Acquisition
Examining the process of customer acquisitions is measured by the length of time it took between the introduction of your company to a potential customer and when a sale closed. This may indicate on-target sales performance or a need for improvements in closing sales.
2. Customer Retention
Customers indicate their satisfaction by returning. Total the number of customers your business has served in any given timeframe. Estimate the percentage of customers who returned in relation to the total customers served. If the customer retention rate is 75% or more, your rate is strong; lower percentages indicate a need for change.
3. Customer Lifetime Value (CLV)
The customer lifetime value measures how much revenue will be generated over the lifetime of the company-customer relationship. This metric is a forecast; however, it can be used to measure past and present sales, as well.
4. Sales per Client
Measuring sales performance is straightforward, as sales goals are met or not. Use this metric each month as a reference point for sales performance.
5. Online Traffic
Measuring the online traffic of your business to determine whether customers are driven to your website. Make corrections, if needed, to increase customer traffic. Start a Q & A section or add updates and announcements to build client traffic.
Use these metrics to review, measure and assess the strength of your business and drive growth along the way.