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Custom Dashboard Reporting Service

Custom dashboards are a collection of metrics and gizmos about your marketing strategies you care about the most. By monitoring several metrics at once, you can take the pulse on the overall health of your business.

Custom Dashboard Reporting

At SMDigital Partners, we believe that Digital Consulting is a science and an art.

We start our methodology with data and customer insights and an assessment of a company’s existing resources and assets. With a specified data set as the performance beacon for results, we work with you to set new objectives and use innovation and creative solutions to reach those goals. We assess your current digital presence organically, isolate the gaps, recognize the risks and then we create opportunities with you.  We work with your teams to present your business to the digital world in a creative and measurable way that leverages your digital data to reach peak performance levels. Online and digitally!

8 Common Digital Marketing Metrics to Measure for Startups

Part of bringing more visitors to your website involves using the right metrics. Here are common digital marketing metrics to measure for startups.

Metrics to track on startups

If you’ve noticed that your website hasn’t been getting as much traffic lately, then you might need some help tracking the proper marketing metrics.

Even startups need to track the most common digital marketing metrics. This is the easiest way for startups to have marketing success and build a brand that people will remember.

But if you’re just starting, it might be hard to know where to begin. That’s why we put this helpful article together.

Keep reading to learn more about the metrics your startup should be using today.

1. Bounce Rate

Bounce rate is the number of visits to a website that resulted in one single page view.

A high bounce rate might state that your digital marketing strategy is failing. Depending on the type of digital marketing, it can be calculated or estimated.

Startups should care about this metric because it tells you how effective your content is. If people were finding what they were looking for, they would not leave as quickly as they have been.

2. The Conversion Rate of Both Organic and Paid Traffic

The conversion rate is considered a digital marketing metric critical to your startup’s growth. It’s the ratio of unique visitors, over time, who convert into leads or customers. 

The conversion rate is one that you’ll often want to use to measure your startup’s digital marketing success. It should be defined as the “percentage of visits that result in X” where X can be a sale or another desired action on your part.

Startups care about conversion rate because it helps them get more results from digital marketing efforts. The numbers and results will be an accurate way for startups to see whether digital marketing is working for them at all. 

3. Web Traffic (Total Visitors)

Web traffic refers to the different digital marketing channels that you are using and how well they work. For instance, are you currently using Twitter in your digital marketing strategy? Or Facebook ads? Web traffic can help you measure which digital channels are doing better than others.

Increasing website traffic can include looking at:

  • Social Media (Facebook, Twitter, etc)
  • Organic Search (SEO rankings & keywords)
  • Referral Links (links from other websites)

4. Average Time on Site

This common digital marketing metric tells you how much time an average person is spending on your website.

The longer someone spends on your website, the more likely they are to do something else such as buy a product or subscribe to an email newsletter. Websites with high-quality content tend to generate more sales because they keep the person’s attention for a long period of time. 

In digital marketing, visitors who spend a long time on your website are also known as “sticky” visitors.

Startups should care about the average time on site because it can help them increase digital marketing results by providing better content to users. It can be difficult for a startup to track this digital marketing metric, but it’s possible with the right digital marketing tool.

5. Click-Through Rate

Click-through rate is a common digital marketing metric that tells you how many people have clicked on your ad or banner (i.e., advertisement), which directs them to a specific URL. 

For example, if someone sees an ad for a digital marketing consultant in NYC and then clicks on the ad, this person would be tracked as one click-through-rate visitor. If 10 people see an ad but only two of them are interested enough to follow through, then the click-through rate is 20%.

Startups should care about digital marketing click-through rate because it tells you whether people are interested in your content, offers, and CTAs.

6. Customer Lifetime Value

Customer lifetime value (or CLV) is an important digital marketing metric. Digital marketers use CLV to determine how much money they should spend on digital marketing campaigns. 

For example, a digital marketer may know that if he spends $500 on social media marketing with Facebook ads and only gets 10 new leads from this campaign, his cost per lead is $50. But, he may not know the lifetime value of these 10 leads. If these leads turned out to be some of the most profitable customers that digital marketer has ever had, then it would have been worth spending $50 each for those leads because their lifetime values are higher than this number. Digital marketers typically measure CLV from monthly recurring revenue (MRR). 

Startups should care about CLV because digital marketers are trying to maximize their profits and revenue over time. Digital marketers want to know which strategies generate the most customers that end up spending more money in the long run.

7. Customer Acquisition Cost

Customer acquisition cost (CAC) is a metric digital marketers use to measure how much it costs their business to get new digital marketing customers. 

For example, if a digital marketer spends $500 on digital advertising per month and hires three employees who manage the campaign for a salary of $250 each ($750 per employee), this digital marketer’s CAC is $1,000 each month. This is because he spent around 10% of his revenue on digital marketing campaigns (i.e., customer acquisition costs).

The digital marketer could decrease the customer acquisition cost by hiring four employees to do digital marketing campaign management. For example, if the marketer spends $1,000 per month ($500 in digital advertising and $250 in employee salary) but hires four employees to handle it for him at $250 each, then his CAC is still $1,000 per month. But, he now has digital marketing employees working on his digital marketing campaigns instead of digital marketers doing it themselves.

Startups should pay attention to digital marketing CAC because it helps digital marketers determine how much they need to spend on digital marketing campaigns to generate new leads, which means more revenue for the digital marketer’s business.

8. Return on Ad Spend

Return on ad spend (or ROAS) digital marketers use to measure how much digital marketing revenue they generate from digital advertising. 

For example, if this digital marketer spends $500 per month for digital advertising and earns $1,200 in digital marketing revenue, he will have a return of 200% for that month’s digital marketing campaign. And the current ROAS ratio would be 4:1 ($1200/$500). 

When measuring your metrics for marketing, pay close attention to the digital marketing KPIs that best help them measure their digital marketing performance and digital marketing ROAS.

Startups should care about digital marketing ROAS because digital marketers’ digital advertising spend is typically directly linked to your startup’s revenue. Startups will want digital marketers to get digital marketing leads and digital marketing customers to maximize digital marketer’s digital advertising spend, which can lead to more revenue for your business. 

Start Measuring Common Digital Marketing Metrics

The most common digital marketing metrics are important for every company, including startups.

Startups need to have a digital marketer on their team who knows how to measure digital marketing KPIs and take actionable steps. And hopefully, these eight metrics are a good jumping-off point for your team.

Have questions? Contact us for a quick 15-minute consultation.

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How to Evaluate Performance Using Marketing Metrics for Your Business

If you want to know how to improve your marketing, this guide can help. Here is how to evaluate performance using marketing metrics for your business.

How to evaluate performance and with what metrics

Businesses can experience an 80% increase in revenue if they focus on improving the customer experience. If you want to make improvements to your site, you need to gather data, first.

Here’s how to evaluate performance using marketing metrics. Tracking these different types of metrics will help you better understand your customers. Then, you can make informed changes to your website, campaigns, and more.

As you make changes to your digital marketing strategy, you can better appeal to your customers. They’ll recognize your ability to meet their needs and expectations. They might start to rely more on your business as a result.

Improve your digital marketing strategy using these metrics today!

Website User Behaviors

Nearly 90% of online consumers won’t return to a business website after a bad experience. In fact, 70% of businesses online fail due to bad usability.

Only 55% of businesses ever gather information through user experience testing, though.

Use tools like Google Analytics to learn how consumers behave across your website. Then, you can update your site to improve the user experience. A better experience will encourage visitors to explore and stay on your site.

Your clickthrough rate and dwell times could improve as a result. Improving your site can benefit different components of your digital marketing strategy. For example, your bounce rate will drop, improving your search engine rankings.

Higher search engine rankings can help you reach more customers online. You can generate more traffic to your website as a result.

Here’s how to evaluate performance using marketing metrics from your website.

Pageviews

How many times is a user looking at a specific page on your website? Tracking pageviews can help you determine which pages are most popular.

Compare the pageviews for different pages and posts.

For example, you can determine which blog posts are most popular. You can use this data to improve your search engine optimization strategy (SEO). You can create more content on related posts. 

You can also determine which service or product pages are most popular. Then, you can spend more time marketing those offerings.

Unique Visitors

Sometimes, a single user will view the same page multiple times. It helps to know how many unique visitors are viewing your pages, too. Look at your unique visitors count.

You can learn more about the scope of your audience and online reach. If you’re not attracting unique visitors, improve your SEO or pay-per-click (PPC) strategies. 

Traffic Sources

As you evaluate performance using marketing metrics, consider where your customers are coming from as well. What marketing channels are helping you generate website traffic?

Tracking website traffic sources can help you make more informed decisions about your digital marketing strategy. For example, maybe you’re generating backlinks from other websites. Maybe an influencer is discussing your product or service. 

If you’re struggling to generate traffic from multiple sources, create an omnichannel digital marketing strategy. You can expand your reach to generate more website traffic. 

Bounce Rate

If you want to improve your marketing strategy, look for ways to reduce your bounce rate. A high bounce rate indicates people aren’t interested in your content.

First, consider improving the UX on your site. Make sure your pages are mobile-optimized and load quickly. Otherwise, people might get frustrated and leave.

Remember, a high bounce rate can hurt your search engine rankings. It could impact your PPC advertising campaigns, too.

Consider using a chatbot to reduce your bounce rate and improve the user experience on your site.

Organic Traffic

Organic traffic can help you determine if people are finding you through search engine result pages. If you have a low organic traffic count, update your SEO strategy. Spend more time improving your content, too. 

Dwell Time

Dwell time indicates how long people are remaining on your pages. A high dwell time can improve your search engine rankings. 

If your dwell time is low, consider improving your page readability. Otherwise, try to ensure your content is interactive. Interactive content will encourage people to remain on your pages. 

Pages Per Session

Consider how many pages people view before leaving your site as well.

A high pages per session count will tell you people are navigating your site. If it’s low, consider using internal links. Internal links will direct readers to other pages throughout your site.

New and Returning Visitors

Are you drawing people back to your website? If you’re not, consider developing a remarketing campaign. Remarketing ads can appear in front of your previous website visitors.

You can increase your returning visitors count to get a second chance with potential customers.

Otherwise, use email marketing to keep engaging your audience. 

Backlinks

Backlinks send consumers on other sites to your website content. Generating backlinks can boost your SEO rankings. They can also help you generate more traffic.

If you’re not generating backlinks, reevaluate your content marketing strategy. Create high-quality content people want.

Social Media Engagement

Once you evaluate performance using marketing metrics across your website, consider your social media marketing strategy. Here are a few different types of metrics that can impact your social media campaigns. 

Mentions

First, take a look at how often people mention your brand. Consider using social media listening to track mentions.

If people are talking about your business, let them know you’re listening. You can boost engagement and direct consumers to your website content. 

Likes and Shares

Links and shares indicate that people love the content you’re sharing online.

Try to encourage people to share your content with their audience. For example, you can create a contest. Then, encourage your followers to tag their friends within your posts.

You can generate more brand awareness and reach a broader audience online. 

Comments

Encourage people to comment on your posts, too. Generating comments will help you engage your audience. Create conversations and answer any questions your customers have.

Answering their questions will show consumers you’re able to help. It can also help you demonstrate your experience and expertise.

Once consumers have the answers they need, they might decide to try your product or service for themselves. 

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How to Write an Executive Summary for a Marketing Report

One way to understanding your marketing progress is with a written summary. Here is how to write an executive summary for a marketing report.

How to Write an Executive Summary for a Marketing Report

Executives don’t have time to waste. The average skilled reader reads between 200 and 300 words per minute. A businessperson may devote a few minutes at most to a report. 

This makes an executive summary absolutely essential. Yet few people know how to write an executive summary for a marketing report. 

What goes into a good executive summary? How should you describe a new marketing plan in your summary? How should you generate your first draft, and what should you target in your revisions? 

Answer these questions and you can write an informative summary that will help your boss come to a quick decision. Here is your quick guide. 

Understand Your Audience 

As the name suggests, an executive summary is for the executive of a company. It gives them a description of what a report or study concluded. If they want more detail about the findings of the report, they can go into the subsections. 

You should have a good sense of the material that your executive likes to read. They may be a technical person who wants to understand a particular process. They may be someone who wants figures, or they may want narratives of how a process played out. 

When in doubt, talk to the executive about what they want to see. Ask them for previous examples of executive summaries that they like. The more transparent you are with the executive, the more likely you will be successful. 

The executive summary may be read by other parties. It can go into a press release that reaches journalists and the public. You should be a little flexible with your writing, but prioritize the executive over everyone else. 

Familiarize Yourself With Executive Summary Components

Most executive summaries in marketing reports contain a few major sections. The first section covers the current marketing situation. It describes what problem a company is facing and what target audience they want to pursue.

The writer then performs an analysis of the factors impacting the company’s success. They describe the strengths the company has and its weaknesses. They assess what opportunities lie in the marketplace. 

The third section describes a current marketing strategy. The description should detail a target audience and the approach to reach out to that audience. 

The writer can go into more detail on specific programs they want to run. Each program should have a budget. The writer should describe how to track marketing campaigns, including through social media conversion. 

Label section of your summary with the labels of the subsections in your report. This allows your reader to flip directly to that section if they want to read more detail.

Read Over Your Report

The executive summary should come after the marketing report is written. You may write the report in addition to the summary.

But you can write a summary for a report that someone else has written. This is best for reports that were generated by outside talent or people unfamiliar with the executive. You can then come on board to write a summary that will appeal to them. 

Reports may be long, but you should read the report you have word-for-word. Take notes on the key findings, but don’t write direct quotes from the report. You should summarize details in your own words. 

If you’re confused about what is important, ask questions to the people involved with the report. Focus on material that will help the head of your company come up with a plan. This includes cost figures and methods of improving digital marketing efforts. 

Make an Initial Draft

Once you’ve gathered your notes, you can make an outline of the points you want to hit. If the standard format of executive summaries does not work for you, you can make your own outline. Do start with an introduction that establishes your themes and proceed in a fashion that makes sense. 

You can then make an initial draft of your summary. Try handwriting it on a piece of blank paper instead of typing it in an electronic document. This engages your working memory and lets you be more creative with your language. 

You can include quotes in your summary if they will help your reader understand key ideas. But limit your use of them. You can refer to page numbers so your reader can flip to that section for minute details. 

Proofread Your Executive Summary

As you type up your handwritten draft, make some edits to it. Employ direct voice instead of passive voice, and remove flowery diction and sentence structures. 

Try to write in the third person. The first-person narrative voice may be appropriate if you need to refer to your own analysis. But referring directly to your audience may be too direct. 

Read your summary out loud. You can read it to someone else, or you can ask them to read over their work. Question them about whether they understand the findings of the report from your writing. 

Before you hand in your summary, read through the report one last time. Edit anything that seems inaccurate or simplistic in your summary. 

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What Should Be in Your Digital Marketing Reports?

Reports can help improve your digital marketing strategy if the right information is included. Here is what should be in your digital marketing reports.

What Should Be in Your Digital Marketing Reports

Digital marketing for businesses is more important than ever. 

Marketing can elevate your business by bringing in new customers. It can help your brand stand out among your competitors. 

However, with marketing, there are a lot of strategies. You have to invest in these strategies to see results. You may have to invest in content, social ads, email, and more. 

But how much you should you pay for agency fees? How much you should pay a digital marketing agency to create and run a campaign for your business? 

Here’s a guide that can help you understand how much to invest in a digital marketing agency. 

How Much Do You Want to Spend on Advertising? 

Before you figure out agency fees, you need to figure out what your marketing budget is. This means having a set amount set aside for advertising. 

You don’t want to tell an agency that you’ll spend anything because it doesn’t help them and it doesn’t help you get the results you want. 

This is why you should be asking the marketing agency how much is needed to produce results. You have to think about the results you want before you consider the cost. 

For example, if you want to produce 10 more sales a month for your e-commerce business, you need to ask the agency how much it would cost to generate that result. 

You would need to know how many leads can produce 10 sales. YOu have to consider how many sales calls you make from the leads the agency is generating for you. 

Retainer or No Retainer

Another factor that goes into the pricing is if you are on a retainer with the agency. 

Some agencies offer discounts when you pay for a 6-month to a yearlong retainer. It allows the agency to adjust and get the desired results you want. There’s also a lot of time to build a relationship and understand what the agency is trying to accomplish. 

However, before you pay for a retainer, you should ask for testimonials. You want to see what kind of work the agency has produced for similar clients on a retainer. 

You don’t want to spend thousands on a year-long service to only realize that it’s not working. Yet it’s too late to get a refund. 

Cost of Different Advertising Strategies

Another consideration when you think about the advertising costs is what kind of strategy do you want. 

Facebook ads cost differently than blog content. Email marketing costs differently than SEO. Think about what you are trying to accomplish in your marketing strategy and what you need from an agency. 

Facebook ads might cost more than other marketing strategies because you also have to pay Facebook. The same applies to Google Adwords. You have to pay Google to show your ads. 

Package Pricing

You also might find agencies that provide package pricing. This is when they group together Facebook ads, SEO, and something else as a package price. 

It might be more cost-effective than choosing a single package when you are trying to decide on a price. 

Research Competitors

Before you agree to any terms and conditions with an advertising or marketing agency, you should look at competitive pricing. 

Look at other agencies and see what their prices are. You also shouldn’t be afraid to ask how they come up with that pricing. You want to see what fees you will have to pay on a month per month basis. 

You may discover that different agencies have different pricing models. You want to choose a model that you’re most comfortable with. 

What Value Are You Getting From It? 

Before you hire an agency, you should ask about the value you are getting from them. 

You want to assess the return of investment. For example, if you pay $2,000 per month on marketing, you want to make sure you have a return of investment that is paying you more than $2,000. 

You should want a return on investment that is going to give you profit and make it worth your while. 

This is why it’s important to ask about the leads and the quality of the leads you are getting when you are running ads. 

You should also consider the value of time when you hire an agency. While you want a high return on investment, you also want to make sure the agency you hire isn’t going to give you any headaches. This means they don’t need to talk to you on a daily basis. 

It means they can help you save time by handling your marketing and advertising needs. 

Lastly, an agency should also help you save on costs. Although you are paying the agency to run ads and marketing strategies, they should be saving you time and money by not having to do it yourself. 

You’ll save countless hours by having someone who is a professional do it for you. 

Now You Know About Agency Fees

When it comes to hiring an agency and figuring out their fees, there’s a lot that goes into it. You need to have a list of questions that can help you figure out if they are the right agency to hire. 

This guide gives you insight on what to look for when assessing agency fees. You can figure out what you need to pay for and compare it with other agencies. You can then determine if it’s a good fit and if it’s worth paying for. 

If you want help with your marketing strategy, you can contact us here

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