Tips to Create and Analyze a Marketing Analytics Report
Tips to Create and Analyze a Marketing Analytics Report
It does not matter how well your campaign fared or how much you assisted in enhancing sales; it can be quite challenging to convey the proper message when it comes to developing a meaningful report for your client or employer. Although you might have some great insights to present, it will be of no use if you cannot communicate them properly. Fortunately, there are many astounding marketing reporting tools on the market that will come of use to you. After having your information ready, it will be imperative for you to analyze it and also present it in such a manner that everybody will be able to understand it without any problem whatsoever.
How to get the proper data for your reports
It is a fact that data can prove to be quite valuable when it comes to shaping your marketing pursuits and comprehending how they interpret into results. That being said, using your data effectively comes with its challenges.
1. Ask the proper questions
Asking the proper queries from your data plus identifying the most significant KPIs will be essential for creating a compelling marketing report. By setting objectives and queries that you like to be answered, your marketing pursuits will be better geared towards producing measurable outcomes. A constant focus on your end objectives and reporting on the progress made by you will help make sure that you can optimize the delivery of the projects better.
2. Obtaining the highest possible quality of data
The quality of the incoming data will continue to rise while marketers make use of an ever-growing list of sales and marketing tools. The raw data which is provided by these platforms is usually disorganized. While working with information from various platforms, you will soon realize that they are not formatted consistently, which makes cross-channel reporting quite difficult.
You will not receive helpful insights from large data sets automatically. It will be imperative to make use of data sets of high quality for creating better marketing reports.
In other words, it will be essential for you to have a target data schema that is consistent. One can consider high-quality data sets to be consistent, relevant, accurate, and timely.
Marketing is becoming an increasingly specialized discipline at present, which implies that it is imperative for marketers to become proficient analysts and data managers. Luckily, by having the proper tool at your disposal, there will be no need for you to retrieve data manually. Data will be conveyed in a harmonized manner which is ready for your analysis immediately.
3. Breaking down silos
On most occasions, raw data will be fragmented between departments and platforms, which can result in lots of silos for data sets. Silos happen to be the worst nightmare of any marketer out there. They do not provide any single overview of the available data, which makes it quite difficult to identify trends in the long run.
However, the solution is simple in this case. It is imperative for every individual within your organization to work with identical data sets. All the information must be available for viewing within one single platform, which can be accessed by everybody.
4. Interpreting the data
It is one thing to have harmonized and top-quality data sets; however, deriving actionable and powerful insights happens to be entirely different. You need to identify what is relevant and where you will be able to find answers to your queries.
Fortunately, this process becomes quite easy with the help of marketing analytics. Using the proper software will help you comprehend which particular marketing activity resonates with your clients best.
If you can interpret information in a better manner, it will be possible for you to be better informed while sanctioning decisions. Marketers who are data-driven will respond faster to emerging trends when they do not need to dispute their data manually.
In a nutshell, marketing analytics platforms will offer you tools to find more reliable answers faster than other manual reporting procedures out there.
5. Harness the potential of real-time data
On most occasions, delays might arise while manually compiling and visualizing real-time information, thus minimizing your ability to respond quickly. More challenges might arise while trying to convert real-time details into actionable insights. Having the ability to respond quickly after deriving insights will be the secret of delivering quick wins for improving ROI.
6. Bringing everything together
Integration of data happens to be an essential component to implementing and devising a successful marketing technique.
It has been found by a recent report that not many companies have data systems that are fully integrated. The majority of the respondents had some connections in place between systems. However, rather alarmingly, spreadsheets are nevertheless a common fixture when it comes to marketing reporting. With the increment of data volumes, integrated marketing analytics is essential for getting the maximum out of your data sets.
Despite the fact that lots of companies are nevertheless lagging behind, the majority of them comprehend the massive potential of converting raw fragmented data into smart business insights.
Why is it difficult to create meaningful marketing reports?
Prior to getting to the point where you will be able to envisage your findings, it will be imperative for you to make sure that everything – from the collection of data to analyzing – has been performed properly.
We are of the notion that you will be capable of deriving some fantastic insights from your data. However, the procedure of visualizing information in a comprehensible report is not quite easy as it might seem to be initially.
Take for granted that you have already done the following:
- You have already defined clear business targets
- You have gathered all the marketing data
- You have harmonized the data
- You have been able to identify patterns and also analyze the data
- You have got actionable business perceptions from the data
At this particular point, you might be thinking about whether you are all set to create the marketing report. However, consider the following before jumping into creating cool visualizations:
- How will you be explaining your findings?
- What information will you include for supporting those findings? All the data will not be relevant, and therefore, you need to prioritize.
- What happens to be the context behind those findings? Bear in mind that you should be able to convey a story. Shiny graphs and cool data alone will not be able to get the job done.
Yes! Now it will be possible for you to create the marketing report. Although it might be a lengthy process to get to this point, it is definitely worth the effort in the long run.
Every single consideration happens to be an essential part of the process, and therefore, make certain to evaluate them carefully one by one. It is essential for your marketing report to be clear, attractive, and also to the point. You should include only that information that will enhance its value and get rid of others that might bring it down. Your customers will be thanking you for that.
Creating effective marketing reports
An effective marketing report is going to consist of the subsequent 4 elements.
1. Automatic real-time analytics
Choosing the proper data analytics tool is of prime importance. The appropriate tool will result in the right insights as well as better marketing decisions. Although the majority of the marketers nevertheless make use of Excel for reporting, the issue is that they are outdated after you have sent them, and also, approximately 90% of the spreadsheets contain mistakes.
2. Useful dashboards and fantastic visuals
It is a fact that we are not able to go through an excessive amount of text at any given time or comprehend lots of information in tables. The better option will be graphs!
3. Content customized for your audience
It is imperative to comprehend your audience. All the relevant KPIs should be brought together for completing the big picture. Meanwhile, bear in mind who you are talking to and ensure that you provide every target audience with information that makes them most interested.
This can be compared with the layout of the dashboard of a car. A different focus is deserved by different driving styles. Understandably, different audiences will be focusing their attention on different numbers.
4. The extra mile
It is imperative to care about the impact made by you on the business. You should also be interested in learning about the customers brought in by you. Try to work backwards from the business objectives and comprehend the marketing metrics which you can improve. However, how's it possible for you to make the most impact? Try to emphasize these 3 points:
Your final marketing report must consist of visualized insights, metrics, and outlook for the upcoming days, plus performance data relating to your current inbound marketing strategy. Always inform your business leaders regarding what has been achieved by you, and also what might be improved plus how. Convince them regarding your course of action.