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What are the key benchmarks of marketing success?

We asked executives and marketing leaders for their favorite marketing benchmarks, here is what they had to say....

 

Kevin Miller, SEO Expert | Entrepreneur | Angel Investor, Kevin Miller

 

The most important website analytics should give you insight into how much traction your site is getting, where it’s coming from, and how the users engage when they click onto the site. This will help you figure out how to optimize your strategies. Focusing on your bounce rate provides a tremendous amount of insight into what's working and what is not. How many people click on your website and immediately click off? Measuring this will help you adjust your website content to better suit the needs of your audience.

 


 

Jay Smith, CMO, Empire Waved

 

We care about one piece of data and one piece alone - cost per sale! how much money do i need to spend to make one sale? if i can spend less than i make, i win everytime and can scale, scale, scale!

 


 

Shiv Gupta, CEO, Incrementors Web Solution

 

Empowering Customer Support I think the future of customer support will go beyond following discussions, noting online surveys, and promising services or products to other consumers. Businesses that establish customer commitment will likely be able to drive better successful marketing operations. This approach revolves mostly around the proper creation of significant content; however, businesses can leverage pushed technology to personalize ideas and better reinforce customer commitment.

 


 

Felix Bodensteiner, Chief Client Office, TableLabs

 

Our website only had two pages, a landing page & a tutorial page. We first SEO opizied our pages and started a blog in March to drive organic traffic to our website, publishing 1 post / week. Here are our benchmarks: Our impressions March to May increased 223%. The increase was primarily coming out of optimizing the existing pages (+153%), but also from the blog (+70%). We are very happy with these results, as just revamping an underutilized asset (our website) now gets us much higher visibility within two months. The new blog is starting to rank, but only with very low CTR rates. The top five blog post by impressions are all ranked between 10-50 and have a CTR of less than 2%, which lower than the 4-5% of our existing pages.

 


 

Rohit Nishad, 360 Tech Explorer

 

E-commerce marketing stats: I noticed that having a live buy notification decreased sales by 13.17%. I researched why this is happening and I determined tgat our target audience thought that a live buy notification is mostly on fake or spam websites so I disabled the live buy notification.

 


 

Robb Hecht, Virtual Adjunct Professor of Marketing, Baruch College

 

Engagement. Engagement. Engagement. The algorithms reward engaging content. Engaging means useful, valuable to the audience. So we build our KPIs around the benchmark of audience engagement. Then, we take our most engaging content and move forward with an omnichannel strategy based on perhaps learnings from one initial platform.

 


 

Harriet Chan, co-founder, CocoFinder

 

We started our marketing campaign for CocoFinder, intending to reach the audience who are fed up with visiting information centers for public information. For this, we started some online campaigns and ran some Facebook Ads with Google Ads campaigns. The first few projects were to establish a ground for our product and work on our brand visibility. We did hundreds of guest posts every month to get the word out there. In the first few months, our CPC was much higher as we were not making any money. However, we stayed focused on our aim, and gradually, we balanced out our CPC with the revenue. (Using some quick monetization strategies). We are planning to monetize our tool this month to meet our operational and marketing costs. Our next benchmark is to get at least 1 million active users who can trust our platform to access public information.

 


 

Ron Evan, Digital Marketing Specialist, Thrive Agency

 

When it comes to email marketing, I always look at Open and click rates. Not a goal in themselves, but open rates suggest that you've got a good brand and compelling subject line - good start! Click rates indicate that the message is well-targeted and clear. For 2021, our target is at 50% because you have to consider that open and click rates would not all result in leads, so the more your open and click rates are, the more you have a chance of getting that lead!

 


 

Sonya Schwartz, Founder, Her Norm

 

As a founder of a successful website, I have done my best to launch marketing campaigns that work for my company. The results are varied, while some are a success, some are so-so, while some are a complete failure. Paying close attention to those ideas that don't work can help you move ahead to better tactics that actually work. It is a bad strategy to not know your target audience. Generally targeting an audience and praying that it will work is a sure way for a marketing campaign to fail. Be sure to get to know your audience first, as this will save you resources that are needed to capture the right buyer or consumer. Failing to take note of past campaigns is failing to succeed. Keep everything new and fresh, redundancy can turn off your potential market and can also discourage loyal consumers. Always review your strategies and set goals to stay relevant and updated.

 


 

Courtney Quigley, Reputation Consultant, RizeReview

 

*For me: *You have to look into How many of the clicks do the desired action (e.g., make an online purchase, download an e-book, etc.) This is a critical benchmark. The conversion rate tells you how many emails from those who clicked on your company's website or store end up taking the desired action. The free product sample, e-book download, contact request? Calculate the conversion rate for these actions and get a more realistic picture of how your email marketing is converting. Even if you didn't sell anything directly online, are you sure you have a goal that you would like a visitor to your website to meet? To be able to measure conversion rates, make sure that analytics tags are added to the links in your emails (either automatically from your email system or manually, for example, using Google's URL tool). This will allow you to view the behavior and actions of visitors who clicked to your site via email from your website's analytics report.

 


 

Tim Clarke, Director of Sales, SEOBlog

 

I always look at our Web traffic. It helps to use tracking code to see what happens to people once they're on your site (assuming that's one of your goals). Are they doing what you hoped for - whether that's making a purchase, registering for something, visiting particular information, etc.? This will all depend on the overall objectives of your email strategy.

 


Cody Murphy, Founder, Visual Oak

 

Conversion rates are important: Conversion rates are important for us as they provide insight into quite a few different areas of performance. When looking at our conversion rates, we also get insight into how well content is optimized and how well our partner offers perform. If our conversion rates are low as a whole, that's likely something we can fix on our end. If the conversion rate for a specific offer is low, there may be an issue with that offer instead.

 


 

Caroline Lee, Co-Founder, CocoSign

 

Benchmark of content marketing success Our B2B Saas company works with a variety of customers. We examined every project’s engagement levels (quantity of placements and social media shares), as well as content features. Content in the tech and how-to process tends to get the most reads and social shares with the ever-attracting tech industry. Our campaigns in tech categories have such high standards for some reasons: These categories covered a few successful campaigns, which breaks the averages on the big side. These categories contain globally appealing topics. Our clients on this platform were ready to let us experiment with driving the envelope, which leads to viral success. The other important thing is the in-depth analysis of the best performing content in each category and shared suggestions on how you can get there.

 


 

Rohan Kadam, marketing consultant, Biking Know How

 

Hello, I am a marketing consultant and an established entrepreneur. I run a successful Niche website called Biking Know How. So, I would like to share some metrics that I measure for the growth of my Niche Site that I manage. Below is a list of my primary KPIs? *Sales Focused KPIs* 1. *Total Number of Sales**: *Total $ amount generated by the website (Daily, Weekly, Monthly, Quarterly etc.) 2. *Total Number of Orders Received**: * Total number of orders generated by the website (Daily, Weekly, Monthly, Quarterly etc.) 3. *Profit Per Order**: *Total Profit I make per items sold (Here I focus on aggressively selling items with high profit margin) 4. *Average Order Value**: *Avg. Order Value or the Order Size per purchase. There are marketing KPIs too that I track, like *Number Of Users*, *New Vs Returning Visitors.* When it comes to revenue, I love measuring the KPIs that I have mentioned above. It helps me set up realistic benchmarks and build strategies to dial up the revenue I generate from the niche website that I manage.

 


 

Miranda Yan, Co-Founder, VinPit

 

One of the significant challenges in marketing is knowing where to start because it is easy to get pulled in different directions. But once you've overall goals, it is time to plan how marketing can contribute to them. And the first step in that process is benchmarking. Before jumping into any kind of marketing activity, I try to have an apparent current reality; no matter what the truth is, it is essential. I used Google Analytics, Google Webmaster, Facebook Insights, Twitter Analytics, and LinkedIn Analytics. I also take care of significant metrics such as several visitors to your website, Website bounce rates, social media Followers, Likes, and comments. However, benchmark tests don't often accurately reflect real-world applications. Even those that attempt to imitate an average user's demands don't always follow particularly scientific and repeatable methods. The higher the score, the better the performance. So instead of trying to compare devices by looking at their specifications, I compare the benchmark scores. My benchmark score is around 3500, which is satisfactory, and I try to increase that.

 


 

Richard Garvey, CEO, Different SEO

 

We recently created a list of 24 elements that have a direct impact on the SEO value of eCommerce product pages ( https://www.differentseo.com/blog/perfect-product-page-layout) and decided to put it to the test with one of our clients. As a result, our recent eCommerce client had their eCommerce revenue boosted by 51% ( https://www.differentseo.com/case-study/ecommerce-retail). We found the most impactful factor to be creating a really detailed list of various product specifications that helped our client rank for a ton of long-tail keywords.

 


 

Francesca Nicasio, Content Marketer, Payment Depot

 

As a content marketer for a B2B eCommerce payment processing company, I use benchmarks to prove the effectiveness of the content I create. The goals of content marketing are usually a mix of lead generation, reader engagement, sales support, brand awareness, and brand loyalty. To determine if the content is meeting goals, the KPIs I track are SERPs Increase, Organic Traffic Increase, Blog Visits Increase, Time Spent On Page Increase, Inbound Links To Content Increase, Social Media Engagement Increase, Number Of Return Readers Increase, and Qualified Lead Conversion Rate Increase. Crafting content is only part of an effective content marketing strategy. The other part is tracking the performance of the content and that takes knowing the right benchmarks to use.

 


 

Michael Hammelburger, CEO, The Bottom Line Group

 

Lead quality is a very important metric for a service-oriented business like ours. We've adjusted how our marketing team analyzes relevant keyword data based on search volumes, website relevancy, and competitive value. Such valuable data should be used to create a targeted strategy based on the functionality and design elements for every page of your website. Most of our clients have sought our services in regard to cost reduction, so we've focused more on providing valuable content that matches today's business needs during the pandemic. Whether you are going through cash flow challenges, or you are facing a potential loss of funds, learning how to reduce your business expenses is vital if you are to survive the storm.

 


 

Robert Barrows, R.M. Barrow

 

In general, the key things that you want to know about any of your advertising and marketing and your website is 1) Does it sell? 2) How much did it sell? 3) Which copy and which products and which prices and which promotions worked best? 4) and how can you increase your sales, increase your profit and decrease your risk? To do this kind of analysis, the best metric to use is some easy-to- use advertising math I developed called The Barrows Popularity Factor. It's math that actually lets you QUANTIFY the relationship between advertising and sales and businesses of all kinds can use the math to help them increase their sales, increase their profit and decrease their risk. The reason the math works so well is very simple. It reduces the relationship between your advertising and sales to its lowest possible common denominator...namely: How much did you sell? divided by/ How much did you advertise? (But the key is this, don't do the math in dollars, do the math in units per gross impressions.) In mathematical terms, the formula looks like this: The Barrows Popularity Factor (The BPF) = How much did you sell? (in units) divided by /How much did you advertise? (in gross impressions) The answer you get is a rate of return on gross impressions. (Gross impressions is the number of ads multiplied by the audience per ad.) Once you can quantify your rate of return on gross impressions, then you can use some additional math to help you determine the best way to spend your advertising budget. The math and how to use it are explained in a booklet I wrote called The Barrows Popularity Factor. You can see more about the math and download The Barrows Popularity Factor booklet for $4.95 at www.barrows.com You can read the whole booklet in about an hour, and the math is so easy to use that all of the calculations can be done by one person, in moments, with just a simple calculator.

 


 

Geoff Crain, Director, Kingstar Media

 

My favorite benchmark is ROAS (Return-on-ad-spend). ROAS is the most important metric in digital advertising because it reflects profitability based on ad expenditure. For example, if you spend $1,000.00 on Facebook advertisements and those advertisements generated $3,000.00 in sales, your ROAS would be 3.0. A 3.0 ROAS is the standard industry benchmark for paid digital advertising. Typically, if an advertiser can generate a 3.0 ROAS, there is enough money left over to cover the COGS (cost-of-goods-sold) and generate a profit. Every brand and product has different profitability metrics and some may need higher or lower than 3.0 ROAS to maintain profitability. Regardless, if you are trying to sell a product on Facebook, the most important benchmark to monitor and optimize too is ROAS.

 


 

Miklos Zoltan, CEO & Cybersecurity Researcher, Privacy Affairs

 

To Improve Open Rates, Test Your Subject Line:* Trying different things in your marketing emails is the greatest approach to figure out what resonates with your readers. To gain higher open rates, test a few different subject lines to see what works best for your audience. Set up an A/B testing campaign with two or three slightly different subject lines, such as Company B Weekly Newsletter and This Week's News from Company B. Not only should A/B testing be a component of your email marketing plan to enhance your email marketing statistics but it should also be used to deliver the material that your email subscribers want in a style that is appealing to them.

 


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