The cost of marketing your business is high. It’s often challenging to divide your customers accurately to create an efficient marketing strategy, which wastes customer resources, money, and your workforce.

To solve this issue, the idea of precision marketing has emerged. Some companies are actively exploring using data analysis to achieve this type of marketing and get customers at a lower cost. If you want to succeed in the digital era, you must use the data value to help drive your decisions.

With that in mind, a marketing report is an invaluable tool you have at your disposal.

While this is true, as a business owner, you may not be familiar with creating a digital marketing report that will satisfy your business needs. If that’s the case, keep reading. Below you can learn about the marketing report and its importance to your business.

The Marketing Report Defined

Marketing reports include a set of data from different marketing channels. Its goal is to analyze the performance of various marketing activities. With a marketing report, you can visualize your marketing data to give to your managers, clients, or marketing team.  

Because of the format of this report, it’s an efficient way to communicate the marketing strategies and goals you have in place and to determine how effective they are. The information displayed in your marketing report comes from multiple sources, including your CDP.

When you begin exploring marketing reports, you’ll discover there are a few options to consider. Some of the most popular formats include:

Web Analytics Report 

A web analytic report is unique from a general web report. The analytics report, which is also called a web analytics dashboard, lets you have a clear overview of how your website is performing. It’s an important tool for measuring traffic and evaluating your overall brand influence and marketing research.

You can find some pre-configured reports in Google Analytics that can be used; however, you can combine your internal data to customize the notifications and gain valuable insights.

Marketing Performance Report 

Evaluating your business’s marketing performance is important for improving your overall digital marketing strategy. Many marketing professionals actively use these reports to describe marketing effectiveness and efficiency and suggest ways to improve. You can choose metrics based on a certain purpose or be comprehensive.

Online Advertising Performance

How can you tell if your online marketing efforts are profitable or if they are just wasting your marketing dollars? To do this, you have to evaluate the performance of your advertising campaign. The goal of advertising isn’t just to complete the planned delivery. The goal is to improve brand awareness and promote sales conversions.

You may be using LinkedIn, Facebook, Google Ads, and more platforms for marketing. It’s up to you to determine the overall effectiveness of your advertising campaigns. While this is true, it is best to get through the data of several platforms and summarize the results on a single sheet, which makes it much easier to compare and evaluate how effective the advertisement is.

Marketing KPI Report 

This type of marketing report provides you with a comprehensive overview of the most important marketing indicators at a glance. KPIs in marketing are measurable values related to certain goals of your specific marketing activities.

Because of this, you need to check how achievable the goals are and if the results can be measured when you formulate your KPIs. You can summarize the essential metrics in your KPI report on two sides – revenue and costs.

Furthermore, you can divide your Key Performance Indicators into hard and soft. The first ones are directly related to the business’s primary goal, such as sales, qualified leads, phone calls, etc. On the other hand, the soft KPIs indicate your progress toward the core business goals and can be considered “micro-conversions”. For example, you can meet the soft KPI of increasing the website’s traffic, but this doesn’t necessarily translate into a growth in revenue, which is considered the hard KPI.

While clients and upper management will most probably ask questions if you aren’t hitting hard KPIs, the soft KPIs are just as important to reach your goals.

Since digital marketing is a very vast domain, you can have a look at how to define and track some hard and soft KPIs for SEO, which is the process of getting traffic from free, organic search.”

Tips for Creating Digital Marketing Reports 

A cohesive marketing report will provide you with all the needed data to make informed decisions and adjust or improve your existing efforts. Before you begin to compile your marketing information and your reports, you need to consider the following:

• What’s the purpose of your report?
• What’s the message you are trying to deliver?
• How can you share this message?

Marketing reports that lose the target turn out to be a tedious set of numbers with no real meaning. Because of this, you must have a clear goal before you even get started. Think about your audience and what they want to know. According to your goals, you can create an analysis on several topics, including user operations, channel effects, competing products, traffic, and more.

As a website manager, you likely want to know where most website traffic is coming from. This information will help you determine the results of different types of media. If your funnel from traffic to conversions isn’t clear in your marketing report, it will result in investments that aren’t accurate and wasted customer resources.

When your marketing efforts are facing more and more users, you must differentiate your customers properly. This differentiation relies on the marketer’s work experience and their ability to meet the development needs of the business. It can eventually lead to a loss of customer resources and human resources.

Creating Your Marketing Report

The marketing report that is created requires a few important steps. The first is to define your data sources. Once you know your data sources, you must collect the data and then design your report. The actual creation process is the easy part. It’s finding and using the right data that makes or breaks the entire process.

Growing Your Business with Marketing Reports 

A marketing report lets you easily and quickly stay on top of marketing performance across all the marketing challenges you use. It also lets you know where your digital marketing efforts are working and where optimization and adjustments are needed. You can make your digital marketing reports more detailed based on your goal by analyzing your website traffic, revenue, brand influence, cost, and more.

While this is true, it is worth mentioning that digital marketing data is virtually endless and more is being created every day. If you want to see all the benefits offered by modern marketing reports, you must ensure the reports show the latest information available. To do this, it is recommended that you use modern technology and other tools.