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Are You Looking To MoM <3 To Help Evaluate Your Business Results? by Dawn Varga, OnTarget Digital Services April 9, 2019 |
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Since Mother’s Day is coming soon, we thought we would ask an important question…are you looking to MoM to help evaluate your business results? If you’re not, you should be. “Why MoM?” you ask. Well, because MoM can provide an honest and enlightening insight into your business results and potential growth.
MoM, or rather month-over-month statistics, are a great way to look at data comparisons and evaluate business growth trends on an ongoing basis. |
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It’s one of the most common ways to discuss your company’s success and potential value with your staff, board of directors or even potential investors.
Month-over-month (MoM) growth stats show the change in the value of a specific metric as a percentage of the previous month’s value. MoM percentages are often used to measure the growth rate of monthly revenue, active users, number of subscriptions, website visits, sales volume, star ratings and any number of other key metrics.
Calculating the percentage of monthly growth is simple - subtract last month’s value from the current month’s value, then divide the result by the last month’s value and multiply by 100 to convert the result to a percentage. If the result is positive, then there was a growth increase. If the answer is negative, then there was a decrease.
FORMULA: (Current Month – Last Month) X 100 = MoM Growth % (Last Month)
EXAMPLE: Average star rating in March: 4.5 (4.5 – 4.2) X 100 = 7.14% increase Average star rating in February: 4.2 4.2
Month-over-month data can be used to accurately model current performance as well as benchmark and forecast future success. While flat or decreasing growth rates may be disheartening, remember that there is value in all your data. To be successful, listen to what your MoM is telling you. MoM will help you find new opportunities to improve specific areas of your business.Thanks MoM! |
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5 Ways to Build Your Brand That Aren't Social Media Marketing
by AJ Agrawal, Verma Media (article from Entrepreneur.com) February 25, 2019
Forget those micro influencers for now! Customer service, a well-thought-out 'persona' and a great logo are the tools to focus on.
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When it comes to building a brand and marketing a business, social media is a powerful tool that all businesses need to be taking advantage of. Because 70 percent of Americans have at least one social media account, according to Lyfe Marketing, and because social media is considered the most relevant advertising channel for half of Gen Z and nearly half of millennials, social media marketing's benefits for growth are obvious.
Not to mention that, according to the Sprout Index, 58 percent of consumers prefer content that focuses on the visual, making social media the perfect place to advertise and build a brand.
Although social media marketing understandably gets a lot of focus when it comes to building a brand and business, it’s not the only way to build a brand, so it’s not the only tactic businesses should be using. In fact, it may not even be the most effective brand building tactic for your business, depending on the type of business you run, your industry, your target market, and so on.
When it comes to building a brand, the more diverse your strategy is, the faster, better and more effectively you’ll be able to build the brand you want to. So, in addition to social media marketing, you may want to consider one or all of the following effective brand building strategies: READ MORE....
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Contact Info
OnTarget Digital Services, LLC Canyon Lake,California Phone: (951) 394-1952 Email: info@ontargetdigitalservices.com Website: www.ontargetdigitalservices.com |
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