Do you need to improve your e-commerce KPIs, inform your digital strategy & transformation plan, complete due diligence in advance of a business event, or raise investment? Check out a set of FAQs from a recent client briefing workshop. Please share with your network! #actionableinsight 

Who do we work with?

We work with senior marketers and business leaders of small and medium-sized businesses based in the UK. We have completed 39 projects to date; B2B lead generation, B2C e-commerce and e-marketplace sales. We are able to cover any sector or industry. Our clients are typically based in the UK and operating in Europe, United States or Global. 

What do they want?

Our clients use the Actionable Insight Online Audit & Competitive Benchmarking service to:

Leverage the sum of marginal gains to enhance key business drivers

Including, but not limited to:

  • Cost Per Acquisition (CPA) or Customer Acquisition Cost (CAC) of a New Customer
  • First or Average Order Value (FOV or AOV)
  • Customer Lifetime Value (CLV)
  • Repeat Customer Rate (RCR)
  • Website Conversion Rate (%C)
  • Engagement Ratio (ER)
  • Return on Investment (ROI) / Return on Advertising Spend (ROAS)

Inform their digital strategy and transformation plan

  • Typically 3-5 year programme (thinking long term) 
  • Introduction of machine learning and artificial intelligence 

Complete due diligence in advance of a major business event 

  • In advance your business being acquired or making an acquisition 
  • Making sure your systems integrate seamlessly with an existing business

Get investment via a compelling Investor Memorandum 

  • In advance of raising funds / investment from High NetWorth Individuals, Venture Capital/Private Equity Funds 
  • Adding digital rigour that stands up to investor questions e.g. Audience size and market opportunity (validation of information) 
  • Valuation of digital estate and assets e.g. database 
  • Future vision – identifying future inflection points / tipping points of technology 

What are the key benefits?

The key benefits and potential ROI of our service include:

Improved Online Performance

  • Optimising website user experience and conversion rates to drive more sales and leads.
  • Enhancing search engine visibility to increase organic traffic and reduce paid advertising costs.
  • Boosting social media engagement and leveraging AI chatbots to improve customer interactions.

Competitive Advantage:

  • Benchmarking against competitors to identify gaps and implement best practices.
  • Gaining strategic insights to refine business strategies and stay ahead of the competition.
  • Uncovering opportunities for cost optimisation by analysing competitor cost structures.

Increased Operational Efficiency:

  • Streamlining processes by adopting competitor best practices identified through benchmarking.
  • Enhancing customer satisfaction by improving service based on competitor analysis.
  • Identifying and adopting shifts in business channels or models, such as moving from B2B lead generation to B2C e-commerce/emarketplace or from single sale to subscription models.

Data-Driven Decision Making:

  • Providing actionable insights from comprehensive data analysis to inform strategic decisions.
  • Enabling continual improvement by identifying specific areas requiring attention.
  • The ROI can be substantial, with potential revenue increases from improved online performance, cost savings from greater operational efficiency, and a competitive edge from data-driven strategies tailored to the market landscape.

What do we do?

Actionable Insight forensically maps all the platforms and tools within a business’s digital footprint to ensure they are set up correctly, communicate effectively, and work efficiently. Our comprehensive audit and benchmarking cover:

  • SWOT Analysis of the business (mapped versus competitor set)
  • Website (Brand, User Experience, Product/Service Page Conversion, E-commerce/Emarketplace Conversion)
  • Online visibility | Brand and non branded search visibility, share of voice and traction within Search engines, Social media search, and AI Generative search
  • Social media profiles e.g. Meta, Facebook, Instagram, X/Twitter
  • Search and social media ad accounts e.g. Google, Bing, Meta, LinkedIn, TikTok
  • CRM and Email Database e.g. Microsoft Dynamics 365 / Salesforce
  • KPI reporting dashboard (e.g. Google Looker Studio / PowerBI)

Some clients have also asked us to add:

  • Carbon footprint of digital estate (Business was aiming for B Corp status) 

Where do we work?

We typically work with UK or European businesses and benchmark against 1-6 (usually 3) competitors in the United Kingdom, Europe, and the United States. With Vivino Wine we benchmarked against 6 different competitors in 6 different countries. 

What is the data snapshot time period?

We provide a snapshot of data at that moment in time (websites are always being updated) with the ability of some digital analytics tools to track back up to 1 year – to consider trends like seasonality. We prefer to complete an online audit and competitive benchmark in 4-6 days, subject to the number of competitors so as to capture the market – at that moment in time. 

Why are online audits and competitive benchmarking so vital for a marketer or business owner?

These services improve digital due diligence, online visibility, and the ability to convert leads and sales.

What happens during the process?

We complete a logged-in online audit for better analytics and insight.

We complete a logged-out competitive benchmark (in other words – we are not able to log in to competitors platforms and tools) 

By what means do we perform the audit and benchmarking?

We use a complex suite of 22 pro subscription digital analytics tools, many powered by AI.

From the results of each we write up a set of observations and suggested actions. 

We then score each suggestion from 1 to 5 based on; ease and speed of completion, ability to generate fast revenue, and ability to transform the business.

We present the actionable insights to the Board and Senior Leadership Team in board language.

What are the key drivers we focus on?

Incorporating these KPIs into your measurement dashboard provides a comprehensive view of your business performance. 

By regularly monitoring these metrics, you can make informed decisions, optimise strategies, and drive sustainable growth. 

Each KPI offers unique insights, and together, they form a powerful toolkit for achieving your business objectives. 

They act as an overview dashboard, with further levels of recursion/detail available for each: 

Cost Per Acquisition or Customer Acquisition Cost (CPA or CAC)

  • Measures the cost associated with acquiring a new customer, factoring in expenses related to labour, production, and media.
  • Calculation: CPA = Total Cost of Labour, Production, and Media / Number of Customers Acquired.

First or Average Order Value (FOV or AOV)

  • FOV is the average amount spent by a customer on their first order. AOV is the average amount spent by customers per order.
  • Calculation: FOV/AOV = Total Revenue / Number of (First) Orders.

Customer Lifetime Value (CLV)

  • Estimates the total revenue a business can expect from a single customer over the duration of their relationship.
  • Calculation: CLV = (Average Purchase Value × Average Purchase Frequency) × Average Customer Lifespan.

Repeat Customer Rate (RCR) 

  • Tracks the percentage of customers who make more than one purchase within a specified time frame.
  • Calculation: Repeat Customer Rate = (Number of Repeat Customers / Total Number of Customers) × 100.

Website Conversion Rate

  • Measures the percentage of website visitors who complete a desired action.
  • Calculation: Conversion Rate = (Number of Conversions / Total Number of Visitors) × 100.

Engagement Ratio

  • Measures the level of interaction social media posts receive.
  • Calculation: Engagement Ratio = (Likes + Comments + Shares) / Number of Posts × 100 / Number of Fans.

Return on Investment (ROI) / Return on Advertising Spend (ROAS)

  • ROI measures the profitability of an investment, while ROAS measures the revenue generated per pound spent on advertising.
  • Calculation: ROI = (Net Profit / Total Investment) × 100, ROAS = Revenue from Ads / Cost of Ads.

What are the next steps after the Online Audit and Competitive Benchmarking?

Insights typically break down into projects (short-term tactical tasks) or programs (long-term strategic tasks requiring human resources to manage).

Each project and program has a project/program canvas, a single slide of a presentation. The future vision, which services and products, and their financial goals need to be considered at this stage – usually requiring input from the Board (CFO and CEO/MD) 

How much does an Online Audit and Competitive Benchmark cost?

With the increased productivity of using AI based digital analytics tools an online audit for a typical company takes 2 days (£1,600) depending on the sophistication of the digital platforms and tools set up with each competitor to benchmark, usually taking 0.5 days (£400) each. 

We are able to work in UK English, US English, French, Italian, German and Spanish. Costings are based on the final specification agreeing with the client. 

Who have we worked with?

To date, we have completed 39 Online Audits and Competitive Benchmarking projects.

Here is a list of the clients, industry sector, location and geographical market(s)

  • ADMIRALTY – Maritime Data Solutions, Taunton, Global
  • ATTI Consultants – Debt Recovery | International, Maidenhead, United Kingdom
  • AVS Fencing Supplies – Fencing & Landscaping Business, Horsham, United Kingdom
  • Bella Freud – Fashion | High End, London, United Kingdom
  • Bertrum House Nursery – Education, London, United Kingdom
  • Beyond Organic Skincare – Cosmetics, Helston, United Kingdom
  • BodyTrak – Wearable Tech, London, United Kingdom, Europe
  • Bosham Gallery – Art, Bosham, United Kingdom
  • Bristol Sport – Multi-Sport Franchises, Bristol, United Kingdom
  • Brookes Forty – Publishing, Bath, United Kingdom
  • Cabbages & Roses – Fashion, London, United Kingdom
  • Dashel Helmets Limited – Cycling, London, United Kingdom, Europe, United States
  • Eat. Sleep. Doodle – Giftware, Salisbury, United Kingdom
  • Fifteen Degrees Limited – Pharmaceutical, London, United Kingdom
  • Fleur of England – Fashion, Bristol, United Kingdom, Europe, United States
  • HEAT Software (now Ivanti) – Cloud Computing, Bracknell, Global
  • Kate Meads Associates – Occupational Therapy, Andover, United Kingdom
  • Leica / Hexagon Geosystems – SaaS Location Intelligence, Switzerland, Europe
  • London Velvet – Luxury Travel Luggage, London, United Kingdom, United States
  • Mule Bar – Energy Bars, Salisbury, United Kingdom
  • Nucleus Healthcare Ltd (Not trading) – Gastroenterology Treatment, Newport, United Kingdom
  • Omniya Clinic – Cosmetic & Hormone Clinic, London, United Kingdom
  • Oxygen Activeplay Ltd – Sports Activities, London, United Kingdom
  • Secret Saviours (Stuff of Life) – Stretch Mark Prevention Wear, London, United Kingdom
  • SETSquared Partnership – Regional Business Support Network, Bath, United Kingdom
  • Snuggy Hoods Ltd – Equestrian Products, Bath, United Kingdom, Europe, United States, Japan, Australia
  • SQFT Capital – Real Estate, London, United Kingdom
  • Techair – Luggage Manufacturer, Bath, United Kingdom
  • The Marque – Online Reputation Management, London, United Kingdom, United States
  • The Medic Portal – Online Education, London, United Kingdom
  • This Is The Want (not trading post Covid) – Online Gambling, London, United Kingdom
  • Toyota Motors Europe – Automotive Manufacturing, London, Europe
  • TRW Aftermarket – Automotive Manufacturing, Germany, Global
  • University of Roehampton London – Higher Education, London, Global
  • Utelize Communications Limited – Mobile Services, London, United Kingdom
  • Vivino Wine – Alcoholic Drinks, London, Global
  • Wilo SE – Water Pump Manufacturer, Germany, Global
  • Woolf Interior – Interior Design, Bath, United Kingdom
  • Young Voices – Music Education, London, United Kingdom, Export