Marketing Reporting Tools: Get Reports That Help to Stay on Top of The Data
As a marketer, you might be investing in advertising on platforms like Facebook and Google for your brand.
But, once you run a marketing campaign, how are you gauging its performance on these platforms?
It is important to continuously ascertain your marketing campaigns’ progress, what’s working well, where you can improve and reallocate spending.
This article focuses on how you can smartly analyze the performance of your marketing campaigns with the help of reporting tools.
We will start with various metrics which are crucial to evaluate the effectiveness (as below):
Metrics to Evaluate Campaign Performance:
Metrics like impressions, frequency becomes important depending on the campaign objective (say brand awareness). The clicks metric is very important since it represents the number of times someone has clicked on your ad. Analyzing the Click-Through Rate (CTR) is a must. Low CTRs state poor campaign strategies, whereas high CTRs state that your campaign was successful in reaching out to the correct audience.
Conversion Rate Metrics:
The rate at which your campaigns can convert visitors to customers is termed conversion rate. Strong conversion metrics state that your advertisement is reaching the right target audience. These metrics will help you to track the correct investment made in campaigns.
Understanding your cost metrics like CPM, CPC, and CPA helps you gather important data so you can better allocate your ad spend across multiple campaigns.
Return on Ad Spend (ROAS):
ROAS determines the overall impact a marketing campaign has on the efficiency and profitability of your marketing platform.
Though everyone realizes the importance of analyzing the above marketing metrics, many marketers still follow the below methods to collect data on the advertising campaigns:
- Use of spreadsheets to aggregate data from multiple sources.
- Use of methods like custom scripts, macros, and formulas to clean and format the collected data.
But, in the digital-driven world, the above methods are slow and inefficient and might lead to various problems as below:
Problems With Use of Spreadsheets:
Tedious to collect data and manipulate it:
It can be a tedious process to collect data from multiple sources manually. Also, formatting and cleaning of data need tremendous time and effort. It requires several hours to prepare a detailed marketing report for campaigns running on multiple platforms because of data silos.
Potential for error due to manual intervention:
Due to the possibility of accidental deletion or alteration of data, a spreadsheet can have inaccurate data. This might lead to making wrong decisions.
Loss of historical data:
Spreadsheets are usually updated with the latest data. Therefore, marketers lose historical data. This makes it difficult to observe trends over time, compare data over longer time horizons and make future predictions.
Downloading data and storing it locally is dangerous:
When data is downloaded to spreadsheets, the data team loses visibility into how employees use or share the data, resulting in the lack of security and compliance oversight. This leads to vulnerabilities, data loss, and misuse.
It is difficult to share a spreadsheet with multiple team members. At best, it can be emailed once a week – which creates a problem with the loss of historical information in mailboxes.
You can overcome all the above struggles and stay on top of the data with the help of reporting tools. These tools provide automation and bring ease in streamlining the workflow and report creation. With this, you can devote more time to analyze the information and create effective marketing campaigns without wasting a single penny of your budget.
Below is the list of benefits that can you get by using reporting tools.
Benefits of a Reporting Tool:
- Fully Automated: It can be set up in minutes and requires zero maintenance.
- Data Accuracy: It can provide access to the most accurate and latest data without any coding.
- Historical Data Load: It can automatically pull your historical data, which you can analyze easily.
- Export and Share Reports: It lets you export any report’s data to Excel or Google Drive and download it for further analysis. You can also share the report’s URL with your stakeholders.
- Pre-created Report Templates: No hassle of creating reports from scratch. It lets you get into the analysis right away. You can use its pre-built templates designed based on extensive research.
- Advanced Interface: It lets you review both summary and detailed reports. You can filter and sort data by any field. You can also compare data across two timelines.
How Halo can help you:
Halo can connect with multiple ranges of marketing platforms like Facebook Ads, Google Ads and pull data easily. It can automate your data flow in minutes and can be easily seen in the form of robust and intuitive reports.
You can get a set of reports individually for each platform like Google and Facebook. You can also get consolidated reports which give you an overall understanding of your marketing efforts across platforms.