Categories
Reporting

5 Tips to Building Your Digital Marketing Reports

‘Plan – Launch – Optimize’. While you follow this principle to gain the best out of your marketing campaigns, here are 5 tips to get you going with building digital reports.

 

TIP 1: Define your KPIs

To define your KPI, start by revisiting your objective that has been agreed upon by the key stakeholders. Next, map the objectives against various metrics. Have a look at the table below that lists out a set of sample KPIs based on different objectives.

 

Objective Possible KPIs
Awareness/ Visibility
  • Impressions
  • Reach
  • Views
  • Clicks
Lead Generation
  • Number of form-fills
  • Number of asset downloads
  • Cost per lead
Sales
  • Number of sales
  • Average revenue
  • Cost per sale
  • ROAS (Return on Ad Spend)
Engagement
  • Number of interactions (Likes, comments, shares, etc.)
  • Time spent on the website
  • Pages per session

 

Tip 2: Reason to build the report

Are you building your report to showcase the results to your Stakeholders, or is the report going to help you optimize the account? The format of the reports will change based on your answer to this question. Stakeholders want to see an overall performance, a summary of how the campaign is doing. While a report meant for inputs to optimize campaigns will dig deeper and identify each and every metric that has seen a change in the positive or negative direction.

Here are examples of the format you could follow for each of the requirement:

Stakeholder report: An overview of what is happening in the account, what is working and what is not, where you stand against your goals & what’s the next steps planned

Analyst report: A detailed breakdown of performance based on metrics (KPIs) for each elements such as campaigns, ads, landing pages, etc which can be used as a base to optimize your campaigns

 

Tip 3: Select a Format that is Repeatable

While zeroing down on a report format, remember that this has to be done on a regular basis. So ensure that you capture the right KPIs and that the format should be easy to continuously replicate. 

 

Tip 4: Analyzing the data

This is the most important step in building reports. While analyzing the data, start with the top down approach. Identify the performance at an account level, do you see an increase or a dip in performance? If you find an improvement in performance, start digging in deeper till you reach the lowest level of tactics like keywords, placements, text ads, banner ads, etc, and identify the different causes of the impact by analyzing the metrics that are your KPIs. Once done, don’t forget to repeat the same exercise for tactics to identify the ones that saw a dip in performance. This will help you catch instances that will continue to negatively impact your campaign.

 

Tip 5: Automate Your Report

Since you are going to build the same reports over and over (in terms of format), start optimizing and automating your reports to save time and reduce human error. There are various ways of getting this done – 

  1. You can use APIs to fetch data faster in a format that is easier to analyse, and build Macros to initiate your analysis
  2. You can also manually fetch the data and use Macros to build the required format and initiate your analysis
  3. The 3rd option is to identify a 3rd party tool that generates your stakeholder/analysis ready reports

Implementing these 5 tips will help you define your report, analyze your data, and finally save on time. This can have a direct impact on the campaigns you run as you can start optimizing based on the insights and the time saved can be used to define your next steps.

 

DataMyth is a report automation tool that provides insights and reduces the time taken to build reports from an average of 7 hours a week to a few minutes. Interested in checking out DataMyth? Fill out the form.

Categories
Analysis

Data Driven Analysis – 5 Tips to Improve Your Analysis

As a digital marketer, you run campaigns across multiple channels & mediums. You deal with a lot of data on a daily basis and analyze it to identify a pattern or trend based on your optimization tasks which you carried out earlier. Data and analysis go hand in hand to ensure that these campaigns are efficient and effective. According to Gartner, 81% of marketers expect the majority of their decisions to be data-driven by 2020. 76% say that’s already the case. Data is the key to knowing what is working and what is not, so that you can drive faster decision making and deliver the right content/message to your audience at the right time. The tips mentioned in this blog will help you streamline your analysis faster. So here goes!

 

Tip 1: Analyze the Right Data:

Every channel or medium provides a whole bunch of data, but not everything aligns with your marketing strategy or goal. Pick the right metric that would help achieve your goal and align your marketing metrics from each channel to these metrics. For example, if your goal is to drive visibility you need to drive impressions/views. The next step would be to map the metrics to each channel like – Impressions for Google Search and Views for Facebook & LinkedIn. 

 

Tip 2: Prioritize Your Data Source:

If you are trying to drive leads and your campaigns are live across multiple channels, start with the channel that is driving a higher volume of leads where-in a minimal effort can drive a higher return. To get to this stage, analyze data from the different sources and prioritize the channels based on metrics like lead volume, CPLs, etc.

 

Tip 3: Identify What’s Working and What’s Not: 

Now that you have your data by channel and you know what is driving results, dive deeper to understand what drives these results. For example, if Paid Campaigns are driving leads, find out which keyword along with the match type that is working, the position at which you receive the maximum results, the ads driving results etc. Try to find as much as detail you can from campaigns or data available. 

 

Tip 4: Answer the Why: :

This is a critical step that is generally skipped, but adds a lot of value to your analysis. Now you have identified what is working, along with what is not working, dive deeper to understand the reason. What was that one thing that caused the change in performance. This will help you understand the change required and plan your next step. 

 

Tip 5: Test New Strategies Based on the Analysis:

If you stop testing or implementing new strategies, your competition can easily overtake you. With deep data analysis, you can test new strategies based on your answer to the ‘WHY’ in Tip 4. Constant optimization will help drive better results over a period of time.

 

Remember that if your analysis is data backed, the strategy you recommend will have a positive effect, some, more effective than the others. In the long run, you will gather more and more data and insights about your account making the strategies even stronger.