Analytics tend to be the most underutilized feature of marketing technology. It's not that people don't recognize the value potential, but often they don't know where to start. And when you consider that many marketing teams don't have dedicated analytics resources, reporting can become an overwhelming activity.
If you're manufacturing organization without dedicated analytics resources, I suggest you consider a Metrics task force. Bring together team leads from across the organization and conduct interviews with those stakeholders who are impacted by marketing metrics. Talk with operations, sales, finance, and your internal marketing team to understand what insight they want. Don't ask what data they want, ask what information and insight would allow them to perform their jobs better.
- Build dashboards for each website and evaluate the following:
- Form submissions by form that exist on the website like demo request forms, contact us forms, and RFQ forms, and partner contact request forms.
- Conversion rates by form (# of visitors that really submit data)
- Originating website (referring site) -- and differentiate by:
- Local / regional search sites (Google United States vs Google Norway etc)
- Google: Click-through from natural search results, display or PPC ads
- Website dashboards for a product line?s local sites (e.g. French or German site) also including Google landing pages and contact form submission data
- Dashboard comparing website activity against campaigns and whether there is any correlation (visits/length of time spent on page/site)
- Click-through rates
- Website visits
- Form submissions
- Conversion rates (navigation to form vs. submission)
- Metrics highlighting follow-up activity levels
- Form submissions from forms on Google AdWords landing pages across all campaigns and product lines
- Form submissions from forms on general campaign landing pages across all campaigns and product lines
- E-mailing metrics (click-throughs, unsubscribes, bounces etc) ? across each product
- Campaign dashboard showing top-performing campaigns/landing pages
- Evaluate Data Quality Dashboards for:
- Unsubscribe numbers and rates
- Bounceback numbers and rates
- Contact data completion rates
- Form completion rates
- Industry benchmark metrics
- Opt-in rates
- Build dashboards for each campaign and evaluate the following:
- Lead/Opportunity information such as
- Conversion rates
- Conversion speed/velocity
- Leads/opportunities in CRM that have not had follow-up activity
- Rejected MQLs and the justification for rejection
- Metrics to identify and compare campaign success
- Lead/Opportunity information such as
- Build dashboards for the financial team like
- A comparison of activity and results across all product groups.
- What campaigns/activities were successful?
- What products groups generated the most activity/results?
- What leads resulted from the activity?
- What was spent versus received for lead gen activities and awareness activities?
- What campaigns were most effective?
- Recommendations on how you should we spend your marketing dollars?
- Build additional dashboards for product teams and evaluate:
- Was the content not relevant or not relevant to the recipient's needs?
- Was the content not interesting enough?
- What links were clicked?
- Was the email forwarded?
- Was the email opened on a mobile? Or which operating system was used?
As your task force identifies report, it's recommended that you review the metrics with each stakeholder. Don't simply send a report and expect they understand the data. Explained what information was pulled, why it was pulled, what the numbers mean, and what your recommendations are based on this data.
For example, consider 6 month site reviews for your website and include reporting from both the marketing automation tool and Google Analytics. Discuss site performance and recommendations for improvement. Walk the stakeholders through the website activity, patterns in activity, and corresponding campaign activity.
Another example is at the close-out of each campaign a Lessons Learned exercise should occur. During this exercise the project manager should review the metrics and reports from that campaign. Conduct an email best practices review and provided recommendations to the marketing team.
By utilizing the analytics tools provided, you can better understand your success and areas for additional opportunity and improvement. This will allow you to better communicate to prospects, customers, and provide justification for additional marketing support (both resource and financial).
What reports would you add to the list?