In the fast-paced world of online marketing, staying aware of and on top of your digital campaign’s performance is crucial for success. Whether you’re running ads on social media, optimizing your website for search engines, using a targeted display campaign, or managing email marketing campaigns, understanding how these efforts are performing for your business is crucial for success. One of the best ways to keep track of your digital marketing activities is through monthly reports. Here’s why receiving monthly reports are incredibly beneficial for your understanding of your digital marketing ROI and for your business.
What's In A Report?
Given that reports hold a plethora of data that would be impossible to cover in one blog, let’s quickly cover some of the high-level information included in them if you are running an online marketing campaign.
- The number of times your ad is seen, otherwise known as “impressions”, gives you an understanding of how many times your brand has made contact with your targeted audience. The more impressions your campaign receives, the higher brand and/or promotional awareness you are generating with the campaign.
- “Clicks”, or the number of times your ad is clicked/tapped on, gives you a deeper understanding of how the campaign is performing beyond impressions. Clicks are crucial to campaign success, as click-throughs are done by users with higher purchase intention as they visit your website or landing page to take further action.
- There is a metric called “Click Through Rate” or “CTR” that shows a relationship between the number of times the ad is served (impressions) and the number of times the ad is engaged with (clicks). The basic formula for CTR is “[Clicks/Impressions] x 100”. In layman’s terms, the higher the CTR the better. Tracking CTR can show you how well your ads are being perceived and who is engaging the most. CTR can also suggest what could be improved on in terms of the ad’s targeting, copy and/or design.
- The primary goal of most digital advertising campaigns is conversions. Conversions can mean many different things, but the most common are the number of sales, offline visits, calls, form submissions, capturing email addresses, and downloads. Conversions can directly correlate with revenue, so the more conversions campaigns get, the better. Reports will show you “who”, “what” or “where” is converting the most; whether that be certain age groups or genders, certain devices, or certain geographical locations.
Why Are Reports Important?
Reports give you the ability to track the progress of your digital campaign and to make informed decisions based on data and trends you are seeing. Whether you’re deciding to launch a new campaign, enter a new market, or shift your focus to a different target audience, having a detailed report allows you to base your strategy on solid evidence rather than guesswork. This reduces the risk of making costly mistakes and increases the likelihood of achieving your marketing objectives through strategic decision-making.
How Do You Get Started?
In summary, regular reporting is critical for campaign success, yet not all digital marketing agencies provide them. When you work with us, monthly reports are included with every campaign we run. If you are interested in seeing if digital advertising is a good fit for your company, contact us for a free consultation!
