Let’s go back to the beginning: when you propose a digital marketing strategy, you have many aspects to take into account, from the time you will have to execute it, to the definition of the general and specific objectives, to the type of strategy you will use and the specific tactics you will carry out.
After you have this master plan structured, you can start to conduct marketing experiments to find the best way to develop your strategy; but testing different tactics should be as structured as the strategy design itself.
If you are going to start experimenting, you need to document everything: the tactic you are going to use, the specific objective of the experimentation, the specific actions you are going to develop and the target audience you are going to impact. Having all this information clear will allow you to understand later why your experiment worked or not.
For example, you want to focus on a performance content tactic, so you make two copy, two photos and two different approaches in advertising; you put both contents to compete within the same target group and in this way you get a numerical conclusion that gives you a reliability rate to analyze which of the two experiments had a better impact on your audience.
It is essential that when you carry out this type of exercises in content, advertising, automation, etc., you do not do it in isolation, and that is where the digital strategy reports will be your allies, as they will allow you to keep track of what you are doing and how it is being executed.
What is a digital marketing report?
A digital marketing report is a document that allows you to consolidate information about the strategies and tactics you are implementing; within it you will be able to analyze whether the right decisions are being made to achieve each objective.
A report should include information about the strategy, objectives, promotions, advertisements and campaigns, as well as the results obtained with the work that has been done. It is important that you have a reasonable amount of time to prepare your report, since you must allow each tactic to have its learning and development phase.
For example, if you are going to make an advertising report, you cannot take those ads that have been on the air for 24 hours, because they will not provide you with relevant data. In this case, you should let your ad run for at least a week.
3 reasons to make a digital marketing report
Having documentation on the processes of your digital marketing strategy is one of the most powerful tools to develop it consistently; I tell you some benefits that your business can get by implementing this tool.
Better decision making
By knowing the reliability rate of your experiments and tactics, you will be able to decide to invest time and effort in those that work, while rethinking or eliminating those that are not performing well.
Distribución Optimal budget allocation
If, for example, you discover in your reporting that your brandformance media plan is underperforming branding, you can move the branding budget to give more funds to branding for better execution.
Data-driven experimentation
Thanks to the results of your report, you will be able to execute data-driven experimentation tactics, which means that experimentation is not a risky decision that could result in losses for your business.
Key metrics to include in your report
Before you start to make your digital marketing report and implement it within your company’s processes, you should keep in mind that you don’t need to take into account all the information, only that which is relevant to the reason for which you are making the report. However, there are certain essential metrics that will be of great help.
- Conversion rate: This is one of the most important metrics, as it reflects the number of people who went through the entire sales funnel to execute a sale. Your strategy will always be driven by the number of prospects that turn into leads, then into opportunities and finally into sales.
- Click-through rate: Thanks to this metric you can analyze how many clicks on a link, product, publication or ad have been given in relation to the impressions it had.
- Goals: Objectives become a metric when the campaign or report is designed to achieve them. For example, if you developed a campaign whose objective was to make 50 sales of a product through a Facebook ad, one of your metrics is going to be how many sales were made through that ad.
If you want to start experimenting with digital marketing tactics or just want to keep track of your projects, making a periodic report will be your best ally, because it will let you see those efforts that were successful and those that did not work; having knowledge about this, you can analyze what kind of actions work best with your audience to implement them into your strategy and achieve your goals.
