GoConvert’s application dashboard (below), performance calculator, and “GoConvert in Real Time vs. Traditional Digital” table that appears on that page and elsewhere on this site use a color-coded system that helps users and admins quickly identify strengths and weakness. Many of these color codes are based on traditional, best-practice digital marketing benchmarks. Below, we describe the code in greater detail and define the various benchmarks on which the feature relies.
- Green means the pipeline stage meets or exceeds traditional, best-practice digital marketing benchmarks.
- Yellow means the pipeline stage is underperforming by ≤ ~50%.
- Red means the pipeline stage is underperforming by ≥ ~50%.
The vertical icons under “Pipeline Health” always correspond with the lowest performing item in the row. We only see a check if all rows are green.
At the top of the pipeline graphic, “Awareness” and “Reach” (the figure to the right of it) are always black. Since both are dependent on variables like budget, spending, and audience size, there are no best-practice benchmarks for either metric.
Interest & CTR
“Interest” corresponds with “Click Through Rate” in the table. Based on this benchmark, both are color coded as follows:
- ≥ 2%+
- ≤ .99%
Based on this benchmark, CPC (“Cost Per Click”) — “CPC/Visit” in the table — is color coded as follows:
- ≤ $1.50
- ≥ $2.25
Engagement & RCR
“Engagement” corresponds with “Relationship Conversion Rate” — traditionally referred to as a “Lead Conversion Rate” — in the table. Based on benchmarks like this and this, both are color coded as follows:
- ≤ 5.01%
- ≥ 2.34%
We also use this to benchmark RCR in our performance table.
Traditionally, this metric is referred to as “CPL” (“Cost Per Lead”). Because of GoConvert’s relationship-building focus, we’ve changed this to “Cost Per Relationship” (table) or “CPR” (graphic). Based on this benchmark, CPR is color coded as follows, per whatever industry a given customer operates in. (See the master list here.) If a site isn’t linked to particular industry, we use the bottommost, average/default figure.
|Media & Publishing||$11.00||$25.00||$25.01+||$18-25||< $17.99|
|Healthcare & Medical||$26.00||$50.00||$50.01+||$38-50||< $37.99|
|Industrial & Manufacturing||$26.00||$50.00||$50.01+||$38-50||< $37.99|
|Travel & Tourism||$26.00||$50.00||$50.01+||$38-50||< $37.99|
|Consumer Products||$26.00||$50.00||$50.01+||$38-50||< $37.99|
|Information Technology and Services||$51.00||$100.00||$100.01+||$75.50-100||< $75.49|
|Marketing Agencies||$51.00||$100.00||$100.01+||$75.50-100||< $75.49|
|Financial Services||$51.00||$100.00||$100.01+||$75.50-100||< $75.49|
Conversion, IGRCR, and ROI
“Conversion” corresponds with “Income-Generating Relationship Conversion Rate” in the table. The figure to the right of it illustrates ROI and, in parentheses, burn rate.
Conversion and ROI are dependent on variables such as industry/vertical, budget, spending, and income-generating relationship value (IGRV). As such, while we do have some some best-practice guidelines for customer (or, “income-generating relationship”) conversion rates — 1-5% for digital and 10-20% for sales “win” rates — because of the complex variables involved, we use the following as our conversion, IGRCR, and ROI benchmark:
Your value creation must be at least 3x the amount of cash you burn or you’re wasting investor value. (source)
… we color code all three based on burn rate:
- ≥ 3x
- 1.01 – 2.99x
- ≤ 1x
For our marketing site benchmarks, on the performance calculator and elsewhere, we color code using these ranges:
- ≥ 3%
- 1.01% – 2.99%
- ≤ 1%
A few additional notes:
GoConvert takes a broad view of the term “investor.” Whether or not our customer has true equity investors, an organization’s owners, managers, and workers all invest time in, and add value to, the enterprise. In this sense, one could argue achieving and maintaining a 3x burn is as important for stakeholders as it is for shareholders.
One other note about the way we calculate network ROI and present that data to website visitors.
We populate the front-end data resources on this website according to the following rule:
Only customer installs that have (a) budgets > $0.00 and (b) Income-Generating Relationships worth > $0 are included in the figure.
Regarding the latter, if we didn’t do this, each time we add a new customer to the system, the system’s overall ROI would drop because all new customers have a negative ROI’s since
Total Value of Income-Generating Relationships ($0) - BUM ($) = -$x and
Total Value of Income-Generating Relationships ($0) / BUM (x/burn) = Undefined.
We realize this has the potential to make the network ROI seem overly positive. In time, however, we may adjust the calculation so that, after 30 or so days of active management, all customer installs (even those with negative ROI’s and IGR values of $0) are included in the ROI output.
Please send feedback and additional questions to [email protected]. We maintain extensive documentation for GoConvert and can provide additional, granular insights upon request.