Even before you launch your startup, the odds will likely be stacked against you. You will have a small staff that you can fit into a single room. You will compete for attention amongst other businesses that have been around for much longer, and that already have loyal customer followings. The road to success will not be easy. As a matter of fact, this article will show you one thing that will help your startup defy the odds.
The bleak statistics show that most startups won’t last the test of time. According to Forbes, an estimated 9 out of 10 startups fail and have to shut their physical and digital doors for good. If you want your company to be part of the 10% of startups that reach success, you should consider turning to a digital marketing reporting dashboard for assistance.
A digital marketing insight and reporting dashboard will collect and analyze data relating to your startup. Using AI, the platform will be able to accurately measure your online performance and notify you when something out of the ordinary happens. They can set key performance indicators (KPIs) that relate to your digital marketing strategy, showing you where you stand in relation to your targets for traffic and ROI.
Every startup could benefit from this type of scalable reporting monitoring and other services, whether it’s just in the beginning stages or it’s been open for years.
For example, one of the hottest startups in the country right now is Halo Top Creamery — the company that makes low-calorie, high-protein ice creams. They have made millions of sales by appealing to the market demand for guilt-free desserts.
While Halo Top Creamery has built a recognizable brand, it could still use a digital marketing reporting dashboard for competitor insights. The dashboard tracks search rankings of URLs and keywords to see where you stand in comparison to brands that are putting out similar products/services, or that are actively pursuing the same customer base.
When it comes to Halo Top Creamery, competitors have put out what many believe are copy-cat products in order to push them off of their pedestal. The company Kroger came up with Low Cow ice cream pints that have similar designs and health benefits to the pints made from the startup. Kroger’s line was likely released to tap into Halo Top’s audience.
On the other hand, if your company is falling behind in the ranks, the digital marketing platform will generate suggestions to optimize your online performance. By following these suggestions, you can make sure to improve your startup’s standing and pull ahead of competitors. It won’t matter if you have the same products on the shelves.
Sometimes you need one thing to give your company a leg-up. A digital marketing reporting dashboard gives you the tools you need to improve web traffic, customer engagement and return on investment. It will also help you outpace any competitors that are currently in the market. Going to them for professional assistance could ensure that your startup is one of the very few companies to beat the odds and go the distance.