How ROI Should be Captured in Digital Marketing Reports
The amount of tools and data available for tracking rankings, traffic, and conversion among other factors for a digital business is mind boggling. Especially for people who are not familiar with digital marketing. In 2017, the complexity of data driven marketing can keep many businesses from properly harnessing the power of the digital realm to drive their profits.
If you are running a business you may be looking for specific data to answer questions such as:
- You spent hours overhauling your entire website, including new design elements. Did it make it easier or harder for visitors to get what they needed?
- You introduced a mobile app; how much of your sales can you attribute to this app?
- You kicked off a new advertising strategy (say paid advertising) on the advice of your digital marketing consultant. What was the percentage of increase in website traffic because of the campaign?
- You added several new payment options for your e-commerce checkout… how did it impact your customers and which options were more popular than the others?
- You currently have a seasonal offer going on including shopping discounts, shipping discounts, and coupon giveaways. Wouldn’t you like to know if the number of customers increased? If yes, how many customers were new vs.returning ones? And also, how did the new customers find their way onto your website?
These questions require data and detailed interpretation of that data. The best digital marketing agencies can easily provide that data through an effective digital marketing report.
Reporting on Search Engine Optimization
Many small-business models benefit from search engine optimization (SEO). Examples can range from an e-commerce business or a local accountancy practice. Most business people are not too tech savvy and may opt to hire a digital marketing consultancy to aid them in getting better visibility in the digital sphere locally.
If you’re on the lookout for experts from the realm of search engine optimization in Philadelphia, you should be asking for the following kind of reports … as a client, you should find out your revenue streams as a result of digital marketing. You may have invested in many areas but some of them, say SEO, may be providing a better ROI (return on investment) than other areas such as say TV advertising. You should also want to know the results that the digital agency you have hired has brought for the business. The value should be in terms of these benchmark metrics:
- Increase in Traffic
- Increase in conversion which is basically turning clicks into clients
- Increase in Visitor engagement
- Increase in Social Media word of mouth
- Increase in leads from a new form
- Increase in revenue dollars, etc.
The bottom line is you want to determine that the agency’s strategy has brought in for your business.
A digital marketing consultant should also want to initially spend time understanding the client’s business model. They should be aware of the long-term goals of the business, for example graduating from a local to a national business over the next decade. Short-term goals such as aiming to be one of the top 3 revenue-earning real estate agents in town this year should also not be ignored.
This can help a digital marketing agency create a robust strategy to get you to your goals.
What Your Digital Marketing Reports should look like
Keep your digital marketing reports:
- Simple and aesthetic – with easy readability and formatting that makes sense at a glance.
- Keep a baseline comparison of current data to past data so that people reading them can pick up any trends.
- Humans are visual creatures and a pictorial representation has more impact than a table of numbers. Reports that are graphic are easier to grasp.
- Any complex arguments can be commented to show the context in case a set of data is not easy to decipher.
- The depiction of how every dollar spent by a client has grown manifold in terms of revenue and the digital marketing channels through which this revenue is coming in.
Digital marketing reports should contain useful details that give customers a snapshot of how a digital marketing agency has added value to their campaigns and also increased their revenue.