The Holy Trinity for Effective Marketing Performance Analytics
We all know the importance of keeping track of activities and spend so we can clearly measure our KPIs. This helps us measure how successful we are currently and strategize for the future. Quite often we get stuck on how we visualise this tracking and focus more on the marketing reports and clear visualisation of our KPIs. This is obviously an integral part of being able to track our activities and necessary to show the entire business how marketing is affecting sales and growth. However, what most marketers struggle with is menial tasks like fetching data manually from different marketing sources, sales and budgeting data from CRM or spreadsheets. While we are wasting time in collecting this data we also ignore where this data is being stored and overlook privacy issues, security, and safekeeping for future use. Therefore, the entire chain of creating reports hinges merely on the visualisation where it should really encompass automating the data collection and data storage.
Businesses are quick to see the importance of investing in expensive data warehouses for finance, sales, and customer data. However, we quite often rely on marketing sources to store our marketing data. For example, Google analytics to store website traffic data, PPC campaigns to store campaign related data which includes vital information like target markets, keywords, campaign costs, conversions, and goal-specific data. Have you have thought if you lose your access to your Google Analytics or AdWords account what happens to all the data that you have worked so hard to acquire throughout the years? What about data regarding the organic performance of your social media accounts? With the digitisation of markets, we are all aware of the need for social media presence and quite often we heavily rely on how these channels are performing to guide us in conquering bigger goals. Here is a blog I wrote previously regarding the availability of data and time limits of different social media channels.
By now it may have become quite clear to you that reporting is a part of a much bigger beast we must conquer as marketers. Collecting and storing data is equally as important to be able to produce reports that your team and the company can use to achieve its targets.
If you are interested in finding an easy solution on how to complete this holy trinity seamlessly, then check out the Madtrix product. It was specially built for Marketers and Data analysists to aid this shift towards data-driven marketing which is quickly becoming essential for all successful businesses.
And of course, let’s not forget where we started this conversation. Visualisation of Marketing reports is critical to show the progress of our marketing activities. These reports can be created easily when the data stored in your Marketing Data Warehouse is modelled so it can be made sense of without needing technical knowledge. You can either choose ready-made templates that have been created with research and user testing or you have the ability to create your own reports from easily understandable data fields, that is the holy grail for all marketers.
Here is an example of one of the most common reports used by our customers to monitor their Marketing Performance Overview.
But a great product is one that allows you to create your own reports from data you can easily understand. With Madtrix, if you are using your own BI tool like Tableau or Power BI you can also create your own reports from the data stored and modelled in your Marketing Data Warehouse. This data is presented to you in an easy to understand format, so if you are not a Data Scientist, like me, you can still manoeuvre your way through it and make reports that are suited for your business.
If you want to know more Watch Our Online Demo or Book a Time so we can give you a one on one demo of Madtrix.
Author: Amelia Dash
A bit about me. I’m the Marketing Technologist at Madtrix. My background is in digital marketing and I’ve continued my passion by embarking on my Ph.D. thesis on online consumer psychology. Working in Australia, China and now Finland I’ve acquired a pool of knowledge about digital marketing.
If you want to speak directly to me, you can find me on LinkedIn