by Team Yakkety Yak May 16, 2018
Tracking the performance of your marketing efforts is SO important to the overall health of your business. A monthly reporting structure will give you an idea of what is working… and what isn’t. Clear insights will help you craft a marketing strategy that continues to evolve and improve over time. So, if you don’t have a reporting structure in place yet, it’s time to get started.
Here are some tips for getting it done.
Begin by identifying which metrics are key performance indicators for the overall health of your business or goal. For example, if you’re just starting out, you may want to keep an eye on site traffic and social media engagement. If your goal is to increase subscribers to your mailing list, you will want to track the number of new opt-ins each month. The main key is to set up different access points and see which ones are most successful. If more people subscribe to your newsletter from reading your blog than through your homepage, than increasing content production may be the right strategy for you.
If you notice a certain metric has risen or dropped significantly, it’s time to do some digging. Look into the numbers for specific channels (paid traffic, organic traffic, social, etc.) and sources (Facebook, Google, Yahoo, etc.) to see what is causing the increase or decrease. Keep drilling until you can identify the exact cause. Every extra bit of information helps you adjust your marketing strategy.
You won’t always get stellar responses to all of your marketing efforts. Sometimes things will flop, and that’s OK. You can learn a lot from decreasing metrics, and that knowledge can help set you up for bigger wins in the future — that is, as long as you troubleshoot.
Troubleshooting is the art of coming up with ways to adjust a strategy that might have fallen flat. A report is not complete unless it contains information to improve future outcomes. This is what turns marketing reports into a dialogue between your marketing team and the entire company, and drives the development of stronger marketing efforts in the future.
Want more tips on how to structure your monthly marketing reports? Contact us! Our analytics team can build robust reports to help you make data-driven decisions so you never leave money on the table or miss opportunities to attract new business.