Monthly Business Meeting
I am a believer in that you must know the health of your site at all times. This includes your traffic growth, social media growth, income, expenses, and more.
Do you have a monthly meeting with yourself?
You should be!
If you are running your blog as a business you may be missing a key component that most bloggers overlook… having a business meeting to go over “figures.”
If you worked in an office with a president and an accounting department you might be pulled into a business meeting to look at how the business is performing and what actions need to be taken to be more successful.
Each month I will run reports and place them in a pretty folder to review how my business is performing. If needed, I will tweak my business plan and marketing plan if something major has changed with my blog. These two documents keep this squirrel chasing lady in check (well not really – I see squirrels and I run after them.). Reports I run:
- Profit and Loss which shows which detailed information to see which income producers are making the most. I don’t just say “affiliate marketing” as I like to drill it down and categorize with “affiliate marketing – CJ,” etc. so I know to go dig to see which products are bringing me the most money
- A Google Analytics report comparing the prior month to this month. AND, prior year for the same period with this period.
- SEO report to see if my efforts are helping me increase with the search engines.
- Social media report to review if I am growing across the different platforms.
When I sit down with these reports, here is what I am looking for:
Did I buy too many premium plugins? Should I stop monthly subscription to various software and platforms to help me manage my business? Should I cut back on my virtual assistant hours?
We all love making an income with our blog. It shows that all our hard work is paying off. Each month I will review my income sources such as sponsored posts, affiliate marketing, ad networks, and consulting. If my income has a dip I try to figure out why and how to improve it for the following month. If my income is higher than the previous month then I look to see if I can expand on my improvement for higher rewards for the following month.
Some posts may be making more money than others and I analyze them to see if it’s a seasonal spike, viral post spike, etc. If it’s seasonal I will make note of it in my marketing plan to use for following years.
If it’s a “timing spike” I will make a list of the top performers with various affiliates such as ANYTHING related to Starbuck’s I will always share on Facebook on my page, in my groups, and on Twitter. If there is time to make a pinnable image for the promotion, then I will create one and pin it appropriately. When I sit down and look at my income I am always looking to see if it’s something that can be “done again” with my readers.
Playing with my traffic is the favorite part of my meetings with myself. I LOVE looking at seeing where my traffic is coming from and figure out what actions created results. (Yes, I am so much a geek that way!)
Social Media Goals
Since I am more consumed with how others are doing I rarely meet my social media goals… but at least I have time! I track my growth from each month and if I see a “spike” in my growth I analyze to see if I can replicate the results to build my social following even more. As I am always obsessed with SEO (#RankandSpank), I am seeing if I need to change my strategy, etc. for SEO growth.
I also look at other goals that are in my business plan such as did I follow x # of brands on social media, did I make contact with brands to introduce myself, etc. Other goals from my plans are to check to see if I learned something new for self-improvement, did I get those eBooks published yet, etc.
I am not saying that you are wasting your time with your blog (hey, I needed a catchy title!) but if you are spending time on your blog, you should be maximizing the reward of doing it. Even if you are not making an income from your blog you should still have goals for it and follow through to see if you are meeting those goals you have set for yourself and your blog.
Go ahead… pick the same day of each month and have a business meeting with yourself. When you are done come back and let me know what you thought of the process.
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