There is no doubt that Data or Data (I know you pronounced it two different ways) is at the forefront of every marketing and sales plan. What results did we drive from our previous efforts? How can we improve based on the numbers? There may be a lot of data for your team to comb through, or none, but there are couple ways you can make sure that all information captured is processed and reported back on in a manner that is translatable to the organization.
It is important for marketers to look for metrics that show impact to the organization, not just engagement with various campaigns and activities. This means that you will be need multiple data points in your analytics since your reports will include a lot more than just Opens, Clicks, Form Submits, etc.
Here are a few tips on how you can boost your reporting by utilizing good data.
Do you understand the reports you are currently pulling? Are you using the Fields that pertain to your organization correctly? How do you measure a response to a campaign? Does your external teams understand the numbers you are reporting on?
Understanding the questions above will assist in the building of top of the line reporting. You can think of it as structuring different types of reports. Such as Operational Reports that provide real-time information on key metrics within a certain time frame such as Clicks, Opens and Form submissions. Another type of report would be an detailed insight report that includes dashboards for emails, campaigns, database health, contacts, website visit, etc. Having multiple types of reports can help marketers dictate which values are best suited for detailed analysis of campaign or asset-level performance.
Also think about the cadence of your reporting. Are you sending daily, weekly, or yearly reports? Finding a good cadence of reporting will eliminate the need for stakeholders to know when the reporting will be in. Another great opportunity to look into is scheduling of reports. Many automation platforms now allow you to automatically send reports at a scheduled time and cadence so you don’t have to worry about pulling the report every time when it can be automated. Once you understand the reports that you can pull, you will then be able to see how you can make the best use of your data for reporting.
Revisit your integrations
The best place to start is to look at the data sources flowing into your instance and the values they are populating. You may have done this process when you first launched but have you revisited it since? Keeping a mapping of all data sources will allow you to see at a quick glance what should be populating. By looking backwards you can see if your existing reports are bringing in values that don’t match up to the values you defined or may now be obsolete.
If your platform is connected to a CRM then this practice can go a long way. The next step is to ensure your field values align to the efforts of your team, as well as the sales team. Building this relationship can allow you to expand your marketing programs and reporting. Sales is always adapting how they interact with leads, and updating the data they are capturing. Are there new values on the record that you may be able to leverage for reporting? Are they editing any values that we are populating? Asking these types of questions to your sales team will open a lot of doors to what you should report on.
Defining Closed-loop Reporting by capturing Campaign responses that eventually sync to your CRM can help measure how a campaign performed. Marketing campaigns always have a budget associated to them. Factoring this budget into revenue calculations is important when it comes to measuring attribution. Enabling yourself to build reports to show the impact your team is making on Deals is what really matters at the end of the day. This is why associating Marketign Campaigns to your CRM that tracks Opportunities can drastically improve your reporting.
Running a report like a Contact Field Completeness Report can show the fields in your instance that are populated and the percentage related to the overall database. This can give you a glance at what values are there and how you can you can better your reporting with what is populated. It’s a great place to start.
Build translatable reports
Keep it simple. Less can certainly be more. Find the values that you know your organization understands. Using visuals, industry benchmarks and indicators that explain what the various metrics mean will aid in the understanding of your reporting.
Conveying the results to those outside of the internal team need to be simplified. When an email has 50 unsubscribes at a 1% rate, using the whole number and not the percentage may resonate more with that team. Education on how the report is populated can be helpful. Such as, opens are only counted when images are downloaded in Oracle Eloqua. Images are blocked from downloading either by their email provider, own liking or by their organization’s firewalls. That means someone could open the email and we would not know. Using the values of unique click-through rate and unique form submissions will tell you the “true” interaction with the communication.
There is not a globally defined way to report on marketing programs. It is defined by you and your organization. Every company is different which means you need to have reporting that fits your needs. Need some assistance defining your reporting? Contact us!