The Holy Grail of Unified Reporting & Marketing Dashboards
What is Marketing Reporting?
Reporting in Marketing is essential for the success of a business. The entire purpose of marketing is the promotion of your brand, product or service in the hope that this will attract more customers, retain existing customers, increase revenues and ultimately profits.
Businesses invest in marketing to build awareness, create interest and preference and motivate individuals to buy, but all of these efforts are meaningless if marketers cannot clearly measure what their marketing efforts and investments are achieving.
Why Use Reports in Marketing?
Good reporting will help your company react to what is happening in the marketplace quickly and help you uncover new and upcoming trends. Your reports should allow you to evaluate and analyse your data to pinpoint which activities are delivering a return for you.
In a recent study by Arekibo, 75% of Irish businesses considered web analytics to be either “Important” or “Critical” to their company’s strategy. How you use and evaluate your advertising data must be a cornerstone of your business planning and budgeting.
In order to make sure the data you are collecting is actually reportable there are a couple of things you should consider when setting up your campaigns. Tracking platform integration performance, setup, organization compliance, and process efficiency are important for reinforcing your data management and increasing the impact of your marketing.
The first step you need to take to begin measuring you campaign performance is setting up Google Analytics. Google Analytics not only lets you measure sales and conversions, but also gives you fresh insights into how visitors use your site, how they got there, what they did when they were there, when they left and how you can keep them coming back. Google Analytics is the most popular tool used globally to help marketers and business understand their audience.
Understanding and analysing your data is the only way you can get to know your online audience. On this point, 77% of respondents to Arekibo’s study stated that understanding their audience was their primary reason for using analytics. If you don’t know the composition and behavioural patterns of you existing audience is, you will be poorly served in finding new customers.
Using Google Analytics data in combination with UTM tracking URLs will enable you to effectively track and analyse your campaign data. UTM’s let you define custom campaigns, by doing this you will be able to segment your data and pinpoint what creative is performing best on what channel. To learn more about using Google Analytics and UTM’s read this article.
Although Google Analytics is an incredibly powerful tool, it still doesn’t give you the full picture and it also takes time to sieve through every element of your data. The two most challenging aspects of web analytics facing Irish companies are resourcing and maximising the full potential of the tools.
This can be achieved by integrating the data from all of your advertising platforms with all of the conversion data from Google Analytics on a marketing dashboard, giving you completely transparent unified view.
All Campaign Performance Data in One Place
What are they?
Dashboards help you see what you need to see quickly and efficiently. A dashboard is a simple graphical interface that gives you an overview of your marketing strategies, campaigns and efforts. The dashboards provide easy cross channel comparison between analytics data and advertising data. Dashboards give you a more visual way to examine your dimensions and metrics. The visual design allows you to easily see what really works for the business at a glance and to make intelligent business decisions to optimize and improve your future campaigns.
As the average campaign very often runs over multiple platforms, networks and search engines, it’s crucial to be able to easily see where the money is going and if your investments are actually paying off and which activities are performing best.
Therefore it is really important to customise your dashboard for your own unique needs to reflect your own personal goals. Decide on a set of metrics to use to consistently evaluate ad campaigns that reflect what is important to your business. Creating graphs of these key metrics on your dashboard will enable you to easily detect issues, identify trends, spot opportunities and anticipate where the results for the week or month will end up. Dashboards are continuously updated in real time so these graphs will always be up to date and accurate.
Benefits of Using Dashboards:
Dashboards provide real time insights and not just a report at the end of the campaign. They allow you to see the bigger picture, looking at everything overall to see the result of all of your marketing efforts. This initial broad overview can be edited and adapted to still allow you to get as granular with the data as you like.
Marketing Dashboards drastically improve efficiency. By integrating all elements of your data you will be able to clearly see not only what is working well for your business but what doesn’t work. Trial and Error is such an integral part of modern marketing, there are so many different techniques and tactics and if you don’t try them you’ll ultimately be left behind. There is no universal formula for how to run a successful campaign with different brands and industries having different unique tactics that work for them.
Being able to find emerging or declining trends in your dashboards as they are happening gives you an unbelievable advantage. You can tweak different strategies, or completely withdraw your efforts in certain channels, all the while dynamically distributing your budget effectively in more successful areas. Graphically viewing your data allows you to quickly see which areas of your website are underperforming, where you are under-performing and therefore where you could increase performance by reallocating budget.
Through the use of dashboards you can start to uncover which marketing channels are the most effective for your particular industry. By pulling in data about visitors, users, clicks, conversions from each channel and representing them in a graph you will be able to easily identify patterns of successful performance in certain campaigns.
The key selling point of marketing dashboards is the fact that they save you so much time. You could access the data from your Google Analytics and the data from all of your advertising platforms manually. You could consolidate all of the data in one file on excel and comb through all of the numbers to try and find some sort of correlation, but this could take hours and by the time you have reached any conclusions, the data could be past its sell by date.
Marketing Dashboards enable real time unified reporting and the insights you gain from utilizing your dashboard can only improve your campaigns, marketing planning and business success.
How Can We Help?
As a result of the above, you will save hours and hours in pulling data together and you will have a perfect view on the return on investment that each element of your ad spend is delivering giving you clarity, certainty and a framework to strive from constant improvement.
If you are interested in efficiently organising your data, gaining access to unique insights for your business and using your reports to their full potential, request a free consultation today or feel free contact our expert team at Sing!
- Arekibo – Market Sentiment Series: Web Analytics Trends in Irish Business
- VentureBeat – Marketing Automation index update
- Marketing Dashboard Tools: Funnel and Datorama
- Learn More about Google Analytics here