We put alert systems in place to protect ourselves. We set up systems that warn us so that we don’t constantly need to look for danger. Smoke detectors, metal detectors, radar, whatever it is that registers earthquakes, they’re all there for our protection.
And just as would have a carbon monoxide detector in your home to detect carbon monoxide, you should set up reports that will alert you to dangers or risks to your business.
What kinds of dangers are out there?
It depends on your business. But here are a few examples that might help you decide what you need to pay attention to:
- Declining sales trends
- Declining percentage of people paying their bills on time
- Lower than average email signups or subscribers
- Lower per purchase value
- Lower conversion rate on offers
- Shifts in user preferences or behavior
- Negative reviews
- Less foot traffic
Having reports set up to alert you when one of these events or trends occurs will allow you to take action. The alternative is manually checking each and every one from time to time. This wastes your time if nothing is wrong, and can delay your response when something is.
My advice, create alerts and stay alert!