Athletes do it. Bosses do it. Teachers do it—and you should too. Performance analysis helps provide insight into what is working and what isn’t; it's as simple as that. That’s why at the start of every month, our team comes together to build a monthly analytics report for each of our clients. This practice not only reassures our clients that their investment in our team was the right choice, but it also provides an opportunity to reflect on strategy and performance against specific, measurable goals.
Whether you work with an external agency or create your own reports—both for general tracking purposes and to report on progress to your C-suite—here’s a run-through of important data that should be measured regularly:
If you could only convey three things about your marketing activities for a given period of time, what should those be? Identifying monthly or quarterly wins help to keep positive momentum for your brand and showcase performance milestones.
Collecting a list of activities executed and planned on behalf of a brand makes it possible to see the many moving parts in action for your marketing. This exercise also provides a learning opportunity for new team members that may join—you can provide a wealth of context simply by handing over a report!
Each month, measure against your stated goals and be transparent about where you are winning and where there is room for improvement. This open communication around performance and expectations helps to showcase your successes as well as creates the opportunity to discuss areas that may need to be adjusted moving forward (and then brainstorm ways to improve).
The above areas of reporting showcase the highlights of the brand activities, but what about the more granular details? Providing an in-depth analysis of all marketing efforts delivers the data necessary for further evaluation. Collecting this information on a monthly basis allows you to establish trends over time that give you a better idea of what really works for your brand—and what doesn’t—without having to rely on assumptions.
As produce marketers, we know the importance of sticking to the budget! It can be a challenge to get buy-in for your marketing spend, and sending regular, detailed updates provides reassurance that your budget is being spent in a way that elevates your brand.
This section helps ensure your whole team is on the same page about what is coming up as well as holds everyone accountable for their specific role in the success of your brand. Mapping out upcoming activities keeps communication alive and opens the door for further conversation.
Taking the time to analyze performance on a monthly basis creates an opportunity to adjust strategy, based on the trends that surface. Based on the data in the report, start detailing steps you can take to create opportunities for brand wins moving forward.
Investing time each month into understanding our performance not only makes us better marketers, but helps us fine-tune our approach to better reach brand and business goals. How do you evaluate and measure your performance? We’d love to hear more about your approach in the comments or on Twitter at @TheCoreBlog.