Are You Structuring Your Marketing Reports Correctly?
Progress. That is one of the pillars of marketing. Whether that’s in the technologies we use, the techniques we implement or the goals we accomplish – progress stands behind it all. But how do we mark progress?
Progress is about improving and seeing results. One of the ways we can do that is by utilizing marketing reports. They are a crucial element you can use to attain the goals your company or client has set.
The main purpose of these reports is to showcase the analytics and numbers for your various marketing processes. Whether that’s SEO, website data or metrics, this is a medium through which they can be compiled and presented to a client or other members of your company. The reports allow you to analyze the strategies that have been put in place and figure out what is, or isn’t, working.
Although they are a compilation of statistics and data, it’s important to format them in a way that is both professional but easily readable. Not everyone that is presented with this report will understand the numbers alone. Research from Databox indicates that, in creating reports, one third of marketers will pull content from six to 10 different sources. With that much content it’s important to display it in a way that is appealing yet accurate. Incorporating design elements, such as colours, graphics, and textual components, will help to keep the report more palatable while incorporating all of the content necessary to reflect the observations crucial to the integrity of the report.
While you need to make sure the report is pleasing to the eye, you still need to be confident that you’re including everything your stakeholder needs to see. Here are a few important components to include in your reports:
- A comprehensive summary: This can be a run-down of what’s happened since the last report was issued, or it can just be an overall summary of what has been observed since you started. It’s important to compile information here that exemplifies the overall performance of the marketing efforts and what information clients will find as they go through the report.
- Website data: As technology has evolved, websites have become increasingly important for companies – in every industry. As it will most likely be a prospect’s first point of entry, it’s important to know how much traffic the website receives, where that traffic comes from and what visitors are doing when they’re on your site.
- Social media data: While not always utilized by companies, social media is becoming increasingly relevant in the marketing sphere. Not only does it allow companies to engage with their existing audience, it opens up the door to create new leads as likes, shares and comments can help increase visibility. Keeping track of this engagement will help understand where new customers originated and where you should allocate more resources.
- Conversion rates: This information is crucial to the growth of the business as it dictates exactly where a visitor became a lead, or better yet, a consumer. Understanding where they came from and what turned that visitor into a conversion will be one of the things clients will want to see.
- Future insights: It’s important to provide information that can be gathered from these statistics that have been compiled for analysis. Understanding what can be done from here to improve and coincide with future goals is a smart way to interpret how the growth that’s happened thus far can be expanded even further.
Always keep in mind what your company’s goals are. These will be things they will want to keep track of specifically. By keeping these priorities top of mind you will be able to answer questions before they’re even asked. In the same breath, remember that goals can change. Be sure to keep communicating to ensure that as things change in your business, you can make those changes in the report to have those elements present.
When it comes to the frequency at which you should be producing these reports, that is up to you. Daily, weekly, monthly, quarterly, yearly, these are all options. Databox surveyed a group of companies and found that 56% of them produced marketing reports on a monthly basis. Doing them in monthly intervals gives you the liberty to analyze smaller changes – ones you might not see if you were to only look at quarterly or yearly reports. This will give you the option to make changes when necessary and adjust your strategies, and even implement new ones, to achieve the most desirable result.
These reports are integral tools to clearly envision the path that their your is on. You and your executive team can see what works, what can work better, what might be needed to incorporate into your business and what you’ve accomplished thus far… progress.