Amanda McVicker (00:00):
Hello and welcome to this week's episode of the OBM Educator. We are getting close to the end of the year right now. 2024 is almost over and I know for me and, I'm sure, a lot of people listening we are making our 2025 plans. I know for a lot of service providers, the plans that are making are kind of you know around.
What are kind of the new things that we could be introducing in our business? What are the new offers we could be having? Maybe we're going to be introducing VIP days or strategy sessions or something. But a lot of what we're looking at also is like what new things are coming in our clients' business? How can we serve them better? I know a large portion of my audience are VAs who are wanting to make that transition to OBM, and so you might be looking at your client's business right now and being like what's coming up for them? That maybe I could make this pivot in my business to support them at this higher level, right.
And so everyone's kind of thinking about all of those things right now. I definitely wouldn't always say that December is a slower time, but typically is, and so if you find that it's a slower time for you, I would encourage you to take some time to really evaluate what is going on in your business, what you want to be doing and the plans that you want to be making. And before we dive into today's topic, which kind of goes off all of that, I do want to say that I am having a Black Friday sale. Next week it's going to be Black Friday through Cyber Monday, so make sure you are on my email list or you are following me on social media All the links are in the show notes because you're not going to want to miss this, especially if you were interested in grabbing the Six-Week OBM during our last launch but maybe money was an issue or time was an issue. I have something I'm really excited about that I will be bringing forth over Black Friday, so keep an eye out for that. And yeah, let's get started.
Welcome to the OBM Educator. I'm your host, amanda McVicker, a veteran OBM who serves six and seven figure entrepreneurs as well as educates new OBM Educator. I'm your host, amanda McVicker, a veteran OBM who serves six and seven figure entrepreneurs as well as educates new OBMs with the skills and confidence they need to start and grow their own successful online business management business. Follow along as I share valuable insights behind the scenes, sneak peeks and proven strategies to help you build a better OBM business.
So today is going to be a part one of this kind of series short series that I'm going to be doing on the analytics that you can be looking at at the end of the year. So ideally, you know, it'd be great if you're looking at analytics throughout the entire year in your business and in your client's business, but sometimes that's not always the case. That's not. It's not always something that we're keeping track of, and especially if you're like a VA for a client that might not be in your scope. But what I'm going to go through today.
So today I'm going to go through the client side of things, of things you can be looking at in your client's business to give them a better picture of what's going on. If you are, say, a VA who's wanting to make that transition to OBM, or you're a newer OBM and you're not sure on, like all the data analytics stuff, this is going to be a really good starting point to provide some quick facts for your client that's going to help them one see all that they have accomplished over the year, but then also see like where those areas of opportunity and growth are for 2025. And it's going to, you know, it's going to make you look real good being in that position to just present them that data. They're going to be very thankful for it. So today we're going to be getting into again the client side of things.
Next week's episode is going to be talking about your business and the things that we can be looking at in your own business, the things you want to be tracking. So make sure you listen next week as well for the part two.
So the first thing to look at in your client's business is going to be around revenue. So that is a very important thing for a client, for a business. Obviously, if there's no revenue coming in, you just kind of have an expensive hobby. So being able to track revenue is going to be really helpful for your client, especially if they don't have a bookkeeper, they might not fully keep track of these numbers.
I think most people know the gist of their numbers, but seeing it laid out as a month to month is going to be really helpful for them. So start by looking at those trends. So break down the revenue by each month, each offer, each service, right, what are all of the different income streams, revenue streams that they have, and break it down by month so they can see what is going on. You can even break it down further into adding the different promotions that you had going on. So say, like you launched in April you know you kind of want to make a note of that of why April had a bigger spike. Maybe your client did like a podcast tour and so all the episodes aired in September and there was a spike there.
Like, kind of do an analysis with it, not just the data, but break down the revenue by month, by product, by service, and then if you have access to these numbers not everyone does, and that is totally okay. But if you have access to these numbers not everyone does, and that is totally okay but if you have access to the amount of money that they're spending in their business, you can also take a look at profit margin. Right, you can take a look at what it is that they're bringing. You know the business is making. If you don't have access to those numbers, I'm sure your client does, and so just giving them the revenue is really going to help them with that. They can determine that themselves, but that is a really good data point to be able to share.
So then also, if your client has, say, like a membership or a one-to-one kind of like ever enrolling, have clients re-signing all of that you know? Look at recurring revenue, income generated from recurring revenue and look at churn rates. Churn rates are how many clients were lost from month to month, how many canceled a membership or dropped from the service. And then looking at the lifetime value of a customer, that's going to be really helpful in seeing you know what is the average amount of money that someone spends with you, right?
So, depending on the types of services that your client has whether it's offers or services or whatever you could determine of the customers that they have, what is the lifetime value of each customer and then what is the average right? This could help them get an idea of you know how can I get a client to spend more money with me? Because that you know, client retention is super important for businesses. It's a lot cheaper to keep a client than it is to find a new one, and so being able to see what that lifetime value of a customer is is super important in determining, like, what new offers or services could be added.
So then, next, going into marketing, a big thing to track is lead generation, so this could be leads captured from, like your website, from any of your freebies or opt-ins. Just look to see, like, if your client has a bunch of different opt-ins, how many opt-ins do they get per lead magnet? Break it down per month again, like what was going on that made one month or another have more opt-ins? You know, when you have this data, it's able to be repeated, and so by presenting that to your client, you're able to show them. Okay. So, again, in April you were preparing for a launch and you had a launch event, and so you had 100 people subscribe to your list through. You know the conversion event that you did. So they know that if they do a conversion event, they can boost the numbers on their list.
So then, tied in with that, you can also look at email marketing performance. So look at open rates and click rates and then you know did anyone buy from any particular emails? By seeing that your client is able to determine what emails worked well, what subject lines worked really well, what motivated people to click, and that will give them good insight on how they can direct their email marketing in the next year. And in the same way, you can do the same thing with social media. You know on Instagram what were the posts that were most interacted with or got the most shares or saves, and then that can help determine what type of content they should continue producing. If they did any type of ads, look at ad spend versus ROI what did they get for those ads? Was it successful? Maybe don't do that type of ad again or tweak it. You know you should be. If you're doing ads like, there should be an analysis part of it anyway. But kind of a year at a glance is always nice to see overall what worked and what didn't.
So then the next thing that you can look at is more from, like, the operational standpoint, what and you know you can find this out as the person leading all of this but what were some of the major projects that were worked on? Did they go according to schedule? Did they go as planned? All of that? And then you can also look at you know, if there are multiple team members the team productivity, like how many hours did team work on certain projects? This is able to give your client kind of an overview on where the time that they're paying for went throughout the year, and so you know that could be. Maybe they see for you know, if you're an OBM, they see that a lot of your time went to more admin things, when a lot of their time as a CEO went to more systems things. Well, you know they can free up their time by moving more systems things to you and getting another assistant to handle more of the admin things, right? So being able to see kind of a bird's eye view of the team efficiency and productivity will give them the opportunity to see like what tweaks can be made.
So the next thing that you could look at is along the lines of sales you can look at, you know, conversion rates from discovery calls or sales conversations, how many converted to actual clients or customers. You know if you have a CRM, you're able to look at pipeline, the sales pipeline. Where did people come in, where did people drop off, how many people successfully went all the way through? If your client has a funnel, you can look at the performance of that. You know, based along how many eyes saw the first product, how many people converted into the second upsell or bump or whatever. You can look to see how many people you know opted for the downsell. You can see how many people went through your email funnel. Where in there did people click? That's going to give you know, you and your client a good idea of how successful is the funnel.
You can also look at you know, your SEO metrics or your search performance. You can look at your Google Analytics and get an idea there of where are people going on your website, what are the keywords they're searching for in order to get there. I use Google Search Console to look at my impressions versus clicks to see like what it is people are clicking based on what it is that they were searching. What pages did they end up clicking on all of that stuff? So if your client doesn't have that set up, I would recommend, you know, encouraging them to sign up for it. But that gives you a good insight on what are the common things that people are searching for.
And then this last part isn't necessarily analytics in the sense of like numbers, but this is also a good time to, you know, get some testimonials for your clients for their different services, right? So maybe you set out a request to their one-to-one clients or people who had taken their group program, someone who had purchased their products, and get testimonials back or feedback forms. You could make that a numerical data point there. But that's a good time to do that, to get some of that feedback from their clients and customers in order to analyze it as well for the new year. So that is, you know, kind of quick analysis of things that you can be looking at in your client's business to help them see what's going on in their business, kind of see the health of their business, what it is that they can be focusing on, what are some gaps that the data is showing and it's going to help them plan for 2025. So much better Now if you were listening to all of this and you're like well, that doesn't like necessarily apply to my client, because X, y, z, my recommendation is to utilize ChatGPT.
So what you can do is, you know, write out what it is that your client does, what their type of business is, what are their offers, services, type of customers, and then ask what are some data points that should be tracked and they will give out a list of. These are the things specific to that industry and here's why they're important as well. But this list is, you know, a pretty generic list that will at least get you going and be helpful to your clients. So make sure to tune in next week because we're going to be talking about what you can be looking at in your own business. This is going to be specific to service providers. There might be a couple repeats, but I am going to get into more why you specifically should be tracking those things.
So I hope this was helpful and I will talk with you guys next week. Bye.
Thanks for joining me for this episode of the OBM Educator. I hope what you heard today is helpful for you on your OBM journey. If you loved today's episode, I would so appreciate you sharing it and leaving a review on your favorite podcast platform. Want to be a guest on the OBM Educator? Fill out the form in the show notes and I'll be in touch. Join us next time on the OBM Educator.
