Knowing your numbers in your education business

If you're an education business owner (such as a tutor or teaching resources seller), do you track your numbers on a regular basis?

This week in the Teaching Beyond the Classroom community, we had a training call all about tracking your numbers in your education business.

From why it's important to track data, to which numbers to actually track, to finding a simple way to actually track the most important metrics... we covered it all!

I even provided the members with a spreadsheet (pictured) to track some key data once a month, which some of them found even more exciting than even I did! And I was pretty excited by it, to be fair 😂

So, which numbers do I recommend tracking, and why? 

1. Money (income, outgoings and profit at the very least, go into more depth by tracking how much money each offer is bringing in per month)
2. Social media followers, views, and your most successful posts
3. Website visits and page conversions 
4. Email marketing, focusing on open and click rates in particular

But why do these numbers matter? If you're a teacher, you're probably used to analysing data to inform your lesson planning. If your students do an assessment and they all struggle to form the past tense correctly, you know that you'll need to revise the past tense in future lessons. 

The same is true for your business. 

You need to analyse your data to inform the future direction of your business. If you're spending all your time on Facebook but it feels like no one is seeing your posts, it's vital that you actually collect data, track your numbers, look at your best performing posts and try to replicate those to encourage more engagement in the future. 

Without data, we're just blindly stabbing around in the dark and hoping we stumble across success by accident somewhere along the way.

Which, if you ask me, is no way to run a business!

So, how well do you know your own numbers? What do you track every day/week/month? Or do you avoid it completely because you hate numbers and data?! Comment here to let me know your thoughts about data tracking!

For more info about the TBTC membership, head to https://www.katelanguages.co.uk/offers/Awp8xMhE/checkout