What is Marketing Performance Reporting?
Marketing performance reporting is the measurement of the return on investment (ROI) from each marketing activity.
Whether you’re promoting a product, marketing a business or selling a service, the same basic principle of marketing performance reporting applies: You can’t manage what you don’t measure.
How can you truly know the impact of a marketing activity if it’s not measured? How can you scale, adapt or refine a marketing strategy without knowing what works, what doesn’t, and why?
Measuring marketing activity allows you to:
- Benchmark performance.
- Set and meet objectives.
- Scale and refine operations.
- Report with confidence.
With these measurements in place, you are able to actively monitor and measure your marketing platforms engagement, the conversion rate and whether that particular campaign is worth your time and money.
Depending on the aims and objectives of your business, there are different types of reports to report and monitor marketing performance:
- Progress Reports
- Forecasting Report
- Trend Report
- Variance Report
- Earned Value Report
Each one of these reports is invaluable to ensuring you are getting the most out of your marketing expenditure and investment.
The Importance of Marketing Performance Reporting
When monitoring and reporting on the successfulness of various traditional and online marketing campaigns, it’s essential to keep the aims and key performance indicators (KPIs) in line with the businesses overall aims.
KPIs are useful not only for marketing professionals but also for the business as a whole. From the executive officer to the lead of sales, the senior management team needs marketing KPIs to monitor each marketing activity and their spend to see just how effective they are. This is particularly important since companies are prone to reduce marketing budgets during economic downturns, downsizing, and mergers.
As marketers face more and more pressure to show a return on investment on their activities, marketing performance metrics help measure the degree to which marketing spending contributes to profits.
Reporting also highlights how marketing contributes to, and complements, initiatives in other areas of the organisation, such as sales and customer service.
Reporting on Marketing Performance Process
Rooster Marketing works collaboratively with you to identify key areas of where the businesses’ marketing efforts are creating a good return on investment and the areas where the businesses efforts are failing to achieve.
We use reliable and accurate analytical data in real time to create bespoke reports for our clients. These reports are then used to inform the overall marketing strategy to identify areas of improvements to boost overall marketing performance.
We create reports weekly, monthly or quarterly for the complete comparison of all marketing campaigns to answer the questions that will be asked from the board about these activities. We can also supply these on ad hoc and on an on-demand basis.