Benchmarking - TribeTalk 67

Last Updated April 28, 2021
 
On this episode of TribeTalk, Kathryn chats with account executive, Mia, about how to get valuable insights on your business' benchmarks.
 
Happy TribeTalk day! And on a related note, let's take a minute to celebrate YOU for helping us reach 1,000 subscribers on YouTube. We are beyond flattered.
 
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Now let's dig into benchmarks a little bit.
 
Chances are, you are intimately aware of your budget, your goals, and your spend. But when it comes to applying those numbers to your marketing plan in a strategic way, do you feel confident in your math?
 
(Psst...it's okay to say "no." You're in good company.)
 
Well, EmberTribe has partnered with venture capital firm Clearco to help our subscribers out.
 
Their new tool, Clearco Insights, offers extremely valuable insights about how businesses stack up to competitors in their industries—and we're offering exclusive early access to this platform through our partnership with Clearco.
 
Clearco Insights allows brands to compare their performance with other businesses in the same industry. This information provides business executives with:
 
  • Industry benchmarks around customer lifetime value (LTV).
  • Industry benchmarks around average order value (AOV).
  • Cost per click (CPC) performance.
  • Amount of ad spend as a percentage of revenue.
  • Revenue growth comparisons to competitors.
With this information, you can begin to answer some critical questions regarding your growth. Are you spending too much compared to the average business in your niche? Are you spending enough? Do you need to pivot financial decisions so that more money ends up in your revenue stream and not wasted on failing initiatives?
 
When you pair benchmark reporting from Clearco Insights with a growth consultation with EmberTribe, our team can pull your data and translate what we find into an actionable growth strategy.
 
At the end of the day, this partnership makes two great no-cost services available to our readers and subscribers: critical financial benchmarking data and custom insights through a discovery call.
 
You can't really put a price on those two opportunities...except we did: FREE! 
 

Jump on a call with one of our growth experts. We'll talk about your goals and create a strategy to get results. 

DISCOVER YOUR POTENTIAL
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