Actionable Insight for Local Business Growth
Nov 21, 2020
Insights play a significant role in business growth decisions, With increased data of local business, it can be easy to lose focus, become obsessed by 'vanity metrics', and fail to generate actionable insights for your business without analysis tools.
Actionable, practical strategy with the RACE Framewor
Plan
- Manage and optimize digital channels across all online platforms against the defined target. An integrated digital strategy is essential to define new segmentation, targeting, and positioning for your online value proposition.
Reach
- publish and promote the product or service & brand-level content, share on the respective online platform, and also network & with influencers.
What do you like to measure?
- Unique visitor
- Value per visit
- No of followers
- Repeat users
- Demographics
Act
- Worth finding the customer journey and a content hub that is relevant, inspirational, and useful to create leads. Stages of the leads define based on the source, demographics and medium.
What do you like to measure?
- Leads strength
- Lead conversion rate
- Time on site
- Share/comments/reviews
- Referral/offer of the source of the lead
Convert
- in this stage, buyers purchase products or services, and invest in marketing automation and retargeting to ensure contextual relevance-driven lead conversion.
What do you like to measure?
- Relevant sales
- Revenue/Profits
- Average order value
Engage
- The best way to engage consumers today is through social media, and email/SMS marketing, WhatsApp has multiple user journeys, social proof, repeat sales, and referrals.
What do you like to measure?
- Lifetime value
- Satisfaction & loyalty
- Advocacy
- Offer/Discount
- Referal consumers
- Festival / events consumers