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5 Metrics to Measure the Health of Your Community

Sure, you’re active in social media, but as a responsible small business owner you know that it’s your site and your own community where you should be building your home base. This is where you direct people you meet in other outlets and it’s where you’re trying to form the real conversations and conversions, because this is the only site that you control. But how do you know that it’s working? What metrics should you measure to be confident that you’re growing a healthy community, while also pinpointing areas for improvement?

To help you get started, below are five areas I’d recommend keeping an eye on to help you benchmark and improve your on-site community.

1. Increase in Subscribers

I state this first because it’s the obvious benchmark that many of us will immediately look at. And while the actual number of people reading your blog or joining your community at any given moment doesn’t particularly account for much, what is important is the growth. It’s important that you’re able to chart the positive growth of your following over time as you put out content and engage more with your community. As long as this number is growing and doesn’t appear stagnant (or worse,   dropping), it’s a good sign that people are invested in what you’re doing and that you’re on the right track.

2. Increase in Conversations

A healthy community will see an increase in not only the number of subscribers over time, but also the community’s conversational level. More specifically:

  • number of active threads
  • number of unique commenters
  • number of active commenters
  • number of people  you’ve identified as brand evangelists

These numbers will give you a good understanding of the health of your community because they show engagement, rather than just warm bodies. You’ll start to see what percentage of your community is really tuned into what you’re doing, what they’re interested in talking about, and what people you can count on to help you start and field conversations.

3. Share of Buzz

Another metric to keep an eye on is your share of buzz in your niche and how that number is (or is not) growing over time. Basically, is your authority and perceived expertise growing as a result of what you’re building on site?

For example, how many people are talking about your community – either about the services that you offer or the content you’re putting out? How visible are you in your space and how does your visibility measure up against that of your competitors? Who is ’s talking about you? How often is your content being shared? In a world where share of buzz often means social authority, this is a pretty big health indicator for your community and something you’ll want to watch.

4. Sentiment

More important than simply knowing you’re being talked about is knowing the sentiment behind that conversation and how it’s evolving over time. What’s the ratio of positive/neutral/negative mentions? How many times are people recommending your product or service to others? Do people come to your defense when others say things that don’t put your company in the best light? Are you growing an army of evangelists or are people lukewarm about your brand? These are all things to monitor to help you understand how your community is evolving and whether what you’re doing on-site is helping you off-site.

5. Increase in Conversions

All of the above will help you determine the health of your community, but increase in conversions is what really tells you whether or not you’re adding dollars to your bank account. Look at referrals generated as a result of your blogging, the number of customers who are also community members, and customer loyalty from community conversions – how many times do they buy/refer? While conversations and engagement are nice, they don’t mean much unless they’re eventually turning into more money for your business.

Those are five metrics I recommend small business owners take a look at to understand the health of their community. What have I missed?

From Small Business Trends

5 Metrics to Measure the Health of Your Community

View full post on Small Business News, Tips, Advice – Small Business Trends

Health Care Costs Are Rising: What Can Your Small Business Do About It?

This probably won’t surprise you: Health-care costs are expected to increase by 8.5 percent in 2012—slightly up from this year’s increase of 8 percent, according to the annual Behind the Numbers report on medical costs recently released by PwC’s Health Research Institute.  There’s both good news and bad news for employers in the report. First, the good news: By making changes in their health plans, employers could likely keep cost increases down to 7 percent. Now, the bad: U.S. workers are using more medical services as post-recession stress takes its toll on their health.

PwC says medical costs increased at lower than expected rates in 2011 and 2010 because so many Americans were unemployed, lacked medical coverage or couldn’t afford medical treatment even if they had coverage. Now, pent-up demand for services is causing more use of medical care, and PwC says employers and insurers are reporting more claims for stress-induced illnesses.

healthcare costs

However, several factors will decrease medical costs in 2012, including:

  • Increased cost sharing: Employers are increasingly shifting the burden of rising medical costs to employees. High deductible plans were the fastest growing type of plan in 2011, according to PwC.
  • Key brand-name drugs go off patent: Some of the most popular drugs will go off patent in 2012, so patients can use more generics.
  • Tiering on out-of-network providers: Employers are also increasing deductibles, which helps discourage workers from using more costly out-of-network providers.

How will health insurance reform affect costs in 2012? Minimally, says PwC. The parts of the Patient Protection and Affordable Care Act that took place before 2012 were small changes for which employers have already accounted. The next group of changes (including Medicaid expansion, health insurance exchanges, subsidies to buy private insurance, mandates for employers to offer insurance and mandates for individuals to buy insurance) don’t begin to take place until 2014.

How can you decrease your health insurance costs? PwC asked employers what changes they are making to their plans, and found:

  • 84 percent of employers expect to make changes in plan design to offset new costs associated with health reform.
  • 86 percent of employers expect to re-evaluate their overall benefits strategy.
  • 50 percent of employers are considering significantly changing or eliminating company subsidies for dependent medical coverage.
  • 89 percent of employers expect to increase their health and wellness efforts.

The best way to decrease costs is to shop around. Work with your insurance agent to get quotes from a variety of providers. Being wedded to one provider can cost you big-time. You may also want to poll your employees to see what benefits they care about most, and which they are willing to do without.

Employees have a strong interest in keeping their coverage (and keeping it affordable). But many have no idea how much insurance costs—especially if your business pays the bulk of their premiums. Being honest with them about how much insurance costs and enlisting their help in coming up with solutions can go a long way toward finding an answer that fits everyone’s needs.

From Small Business Trends

Health Care Costs Are Rising: What Can Your Small Business Do About It?

View full post on Small Business News, Tips, Advice – Small Business Trends

Chart of the Week: The Health of the Jobs Market

The unemployment rate is a much watched, reported, and discussed measure of what’s happening to the jobs market. Last month, many pundits noted, the unemployment rate went back up to 9.1 percent.

Despite the attention it is given, the unemployment rate is not a very good measure of the employment situation. That’s because it depends a lot on what’s going on with labor force participation. If those out of a job give up looking for work because the economic situation is poor, the unemployment rate declines. And if the economy improves and those people re-enter the labor force, the unemployment rate rises.

A better measure of what’s going on in the jobs market is the share of the population that is employed. As the figure below indicates, that measure continues to look horrible. Back in November of 2007, the month before the Great Recession began, 62.9 percent of the U.S. population was employed. In May of 2011, that share was down to 58.4 percent.

To have the same fraction of Americans working as we had before the recession, 10.8 million more Americans would need to be employed. That’s an enormous number of people we have to put to work.

Source: Created from Bureau of Labor Statistics data (http://data.bls.gov/cgi-bin/surveymost?ln)

From Small Business Trends

Chart of the Week: The Health of the Jobs Market

View full post on Small Business News, Tips, Advice – Small Business Trends

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Health Care Jobs Top Among The Best Paying

According to data from US Department of Labor health care careers dominate the top of any list of the best paying jobs (8 out of 10 on some lists). The reason for this is fairly clear: in the United States and many other Western nations, the population is aging, and with an aging population, the demand for health care workers goes up. Way up.

So which health care related jobs pay the best? Well, as you might guess, it’s the high-skill jobs that come with being a doctor. With surgeon being number one:

10 Best Paying Health Care Jobs

1. Surgeons
2. Anesthesiologists
3. Obstetricians And Gynecologists
4. Oral Maxillofacial Surgeons
5. Internists Internists
6. Family and General Practitioners
7. Orthodontists
8. Psychiatrists
9. Pediatricians
10. Dentists

Source: Best Paying Jobs in Health Care

Now, if we exclude the doctor related jobs, health care jobs can still be lucrative. Here are the best paying non-doctor related health care careers:

10 Best Paying Non-Doctor Health Care Jobs

1. Pharmacists
2. Physician Assistants
3. Radiation Therapists
4. Physical Therapists
5. Occupational Therapists
6. Nuclear Medicine Technologists
7. Speech-Language Pathologists
8. Dental Hygienists
9. Audiologists
10. Orthotists and Prosthetists

Source: Best Paying Health-Care Careers Where You Don’t Need to Be a Doctor

The moral of the story is this: if you want a high paying job with plenty of demand, your best bet in the current economic climate is to go into the health care field. And if you want one of the highest paying jobs, become a doctor.


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