Does it feel like you are reading a foreign language when you look at your weekly and monthly marketing reports? Learn how to decipher the key metrics so you can use them to build a foundation for higher conversion rates.
Do your eyes glaze over when you look at your weekly and monthly marketing reports? You aren’t alone. Most business owners know the reports are important but aren’t sure how to analyze them. Let’s change that for you by discussing the key metrics you should be analyzing.
What Is a Marketing Report?
Your marketing report is a document that provides data, showing the results of your marketing efforts. Its purpose is to help you determine whether your current marketing strategies are effective, or if you need to make adjustments to get the results you want to see.
Understand the Key Metrics of Your Marketing Report
While there are many metrics you can include in your report, the most meaningful metrics are key performance indicators (KPIs). These are metrics that tell you if you have accomplished your marketing goals. Here’s what they mean:
- Reach and Impression Metrics: This shows you how many people your content has reached, including social media reach, impressions, followers and subscribers, video views, and search engine impressions.
- SEO and Traffic Metrics: These metrics include new and return user sessions, page views, clicks, and backlinks.
- Engagement Metrics: Look at these if you want to know how well your content engages your audience. Metrics include likes and shares, the time visitors spend on your page or site, the bounce, exit, and click-through rates, as well as the CTA clicks.
- Conversion and Ad Metrics: These metrics show you the leads, form submissions, ad spend, conversion rate, and cost per acquisition.
- Business Impact Metrics: These metrics indicate how well your efforts are meeting your goals. They include sales-qualified leads, deals and contracts, and sales and revenue.
Just looking at your marketing report isn’t going to do anything to help your business. The goal is to use the data to optimize your marketing. Understanding how to track and measure the metrics in your reports will prevent you from wasting valuable time and money on ineffective marketing strategies.
Need help making sense of your marketing report and using it to increase profitability? I can help. Whether you need marketing consulting, or want me to manage your business marketing efforts, connect with me online now to get started.