October 19, 2021
Are our marketing efforts yielding results? This is a question that any team should answer by looking at a marketing report, yet many marketing departments struggle to define their key performance indicators and set up effective analytics tracking.
It’s becoming increasingly crucial for marketing teams to track how their efforts create income, whether they’re reporting on bounce rates, lead generation, or conversation rates.
Revenue has not traditionally been a statistic that marketing teams have been responsible for, but thanks to increased marketing analytics, this department is now being entrusted with producing more and more revenue growth.
Let’s get started measuring your ROI if you’re ready. By the end of this blog, you’ll have learned everything there is to know about marketing reporting, including which KPIs to focus on and how to answer the following questions:
Your marketing KPIs (Key Performance Indicators) or objectives
Customers, both current and potential, are the subject of market research.
Click-through rates, open rates, and other metrics for ads and emails
Figures that show how your performance stacks up against that of different brands and competitors.
Engagement rates, follower growth, and impressions on social media
These figures aid in justifying your efforts and highlighting the accomplishments of your work. In general, a report provides you with the data you require to make more strategic judgments about your approach.
Let’s look at all of the advantages a marketing report can bring before we get into the details.
Let’s start with the truth: not everyone believes that marketing is worthwhile. Marketing used to be thought of as a support function or a cost centre, and your marketing report can help dispel this outdated viewpoint. The first advantage of reporting is that it allows you to communicate with others in your organisation about how you’re increasing website traffic, generating sales leads, expanding your company’s share of voice, and, most crucially, earning income.
Another advantage of reporting is that it gathers all of the data you need to evaluate your performance in one location. You’re busy, and you don’t have time to open Google Analytics and Marketo every time you want to check on your team’s performance. You receive an easily consumable snapshot of your success by combining all of your marketing metrics into a dashboard or report.
Finally, I’ll emphasise the obvious: reporting allows you to stay on track. How will you know if you’re on pace to meet your objectives if you do not measure your marketing metrics? Marketing analytics give you and your team actionable information about your landing page conversion rates, SEO traffic, bounce rate, and other metrics. These statistics and analytics might help you improve your marketing strategy.
read more: Benefits of lifestyle marketing