Let’s set up some facts.
- You have a business, and you want it to thrive
- You believe in the prospects of digital marketing
- You use a digital marketing dedicated worker, a team, or do it by yourself
- You want to know what worked and what didn’t
If everything checks up in this list, you may completely miss the potential that you can get from reports while you do have the right direction. To be frank, some basic reports can make a much more significant impact compared to shabby reports that use superb colors and high words to paint you a picture that mainly consists of big talk with nothing behind it.
Those lines weren’t meant to only leave you with a sense of feeling that something’s off. So instead, we have written this article to help you find the best metrics you should look into (And even demand to get) in your monthly or yearly reports.
Frequency
Reach and impressions are a must for every social network that tracks them (i.e., Google gives impressions). This will provide you with an indication regarding how many people have seen the ad compared to the amount of time it was shown to others. What’s the difference? This is where the frequency gets into place.
This ratio is calculated by dividing reach by impressions, and the result will give you the average amount of times an ad was shown to others. If your ad was shown 5 times on average (And it’s not a remarketing or brand awareness campaign), it’s time to demand some answers – Your ads should be shown to a broader audience!
CPA (Cost per Action)
Each campaign has the desired action. It can be a click, a like, a lead, a purchase, or anything else – And it needs to be measurable.
One of the most important numbers you need to know regarding your performance is the desired action(s) cost. This is crucial because it can help you see if the campaign is going the right way (After all, getting a like for 5$ is quite an exaggeration) and calculate your ROI. For example, if your costs are 10$, your CPA is 10$, and you sell the product for 20$, it means that you’re losing money. Sounds awful? That’s why you should be on the lookout for prices.
CTR
How many people click your ad from the overall impressions? This may seem like a nonimportant factor at first, but when you dive into business, you see that it’s quite an indicator.
This percentage declares how interesting your ads are. If people aren’t clicking, it means that your message isn’t clear/relevant or that you’re targeting the wrong audience/burned it out.
Demand to see the CTR and see how effective you are – And ask for actions to increase it! Every 0.1% is more people who view your landing page, website, article, or lead form.
Conversion Rate
So, people have clicked. But what’s next? After all, you’re inviting them to one of your digital assets because you want them to do something.
Conversion rate results from conversions/clicks, and it determines how many visitors have done what you wanted them to do. The higher it is, the better your ads and digital assets are working. Don’t hesitate to ask the conversion rates for various actions such as add to cart, checkout, purchase, and more – The answer may surprise you.
Budget Spent
It may surprise you – But you don’t know how many campaigns can be more costly or poorly than you’ve intended.
Seeing the budget, you’ve determined compared to what was actually spent is a great way to know where you stand. Maybe you’re under budget and need to figure out how to make things right? Perhaps it’s time to change how things are calculated?
Please notice that a daily budget may be higher or lower than the amount inputted (In the end, it evens out – But don’t be troubled if you sometimes see a peak).
The Right Reports Begin with the Right Team
If you want the best report experience, you need a team that fully understands each metric’s importance and is ready to deliver it for you.
At Synapse, we have the best digital marketing experts and create powerful reports that’ll give you the best indication of your money’s worth. Leave your details below, and we’ll contact you ASAP for a free consultation call.