The startup phase of any business is one of the most important ones in the journey of an enterprise. While it includes diligent planning at each sphere of a probable business domain, the role of marketing as the game changer cannot be denied.
Business thrives on competition, thus if we say that marketing is synonymous to business, it won’t be wrong. For business to reach out to its customers and grow, marketing has a very important role to play. Today digitalization of technology has spread its wings and no facet of life remain unaffected which has given birth to a new term, innovative marketing or digital marketing which deals with adopting to the social and media advancements and making it at a tool to leap on. If you are a first time business owner, the pressure to succeed can be much more than your experienced counterparts. So what should be the metrics to focus to succeed in this game?
1. Analyzing the Web traffic. Getting more traffic on your website is the first step towards increasing your probable customers. But it is a vast subject with plethora of aspects. Although your web traffic might be showing an upsurge, not all visitors will end up being your customers. Your web visitors are lead from different sources, social media, e-mail referrals, etc. Therefore traffic statistics need proper analysis to gain from it.
2. Keyword specific content. Having a SEO driven content on your website will drive more traffic to your website. It is the very basis of web content in today’s web competition. The research on specific and trending keywords and building up your content encompassing the same will make your web page feature in the popular search engines. You can even monitor the performance of your website based on keyword ranking on Google Analytics, free of cost.
3. Social Media Reach and Share. If you are not reaching out to social media to market your business, you are certainly not aware of its potential. Today the biggest businesses have reached out to their customers on their social media platforms like Facebook, Twitter and LinkedIn. Marketing automation has a big role to play here, whether your business is established one or start up, as here also, monitoring the traffic sources and analyzing the reason behind the driving source is important to benefit from it.
4. Cost of Leads and Lead Generation. Marketers and designers have to be in sync to work out strategies to convert the leads and reflect in more ROI (Return On Investment) but before that we have to be digging deep into the sources where your leads come from. When you know the genuine sources generating lead you can invest more in them and expand accordingly.
5. Return On Investment. As the name suggests, it is a simple metrics which tells you whether the investment you are doing in your business generation, is worth it or not, in terms of the profit made by the enterprise due to it. ROI compares the returns vis a vis the investments made by making a ratio from cash inflows and outflows that follow from that investment. Clearly it is one of the most important metrics to monitor for a startup company where money really matters.
6. Returning Visitors. If a visitor is returning to your website, it clearly indicates his interest in entering into a business transaction with your company which obviously means profit generation. Therefore it is important to know these probable customers and their source.
7. Customer Acquisition Cost. Although a returning customer might not cost to company but alluring new ones can. Looking into this metrics is definitely an important aspect of any ecommerce setup simply because your business needs to make money. This means that you need to make substantial amount of ROI from your marketing and sales campaigns. This ratio is an important one to focus so that you know how much return you are getting from customers compared to how much it costs you.
8. E-mail Performance and Conversion Rate. Surely e-mail helps in marketing and reaching out to a target audience but you need to see how effective are your efforts by keeping a track on whom are you sending these mails. If you include all-to-action feature in your campaign it will not only bring more visitors to your website but also monitor the further related metrics.
9. Click-through Rate (CTR). Click-through Rate defines the success of your ads and promotional content on social media and other related platforms. But at the same time it gives you a feedback on the performance of your web content. While a high CTR is considered for any business, the relevance can be enhanced if you go digging the source of the clicks to ensure the genuineness of your visitors.
10. Page-views and Landing Page Conversion Rate. Your website spreads over a couple of pages and delving into this metrics gives you a fair feedback about their individual performance. Studying the time spent by a visitor on each page tells volumes about the success of a page and guides you to improve the content on the unsuccessful ones.
The above metrics which largely encompass marketing automation and its various features can be your guiding light especially in a startup venture. Google analytics or any similar software can help in providing you the above information. The analysis of these metrics has the potential to uplift your business venture if tapped in the correct direction. Ensure your business growth as you collaborate with Infognana for your complete digital marketing needs!