Hello Hello Hello,
You know that feeling, when you finally hit the "Launch" button on your campaign. Nerves, Excitement, & a bit of "Did I forget anything?" 🥲
But hold up, amigo, the journey is far from over! In fact, that's just the beginning of the real action.
Here's the deal: If you want your campaign to work, you need to stay on top of its performance. You know, checking out how it's doing, what's working, and what's not.
And how do you do that? What reports should you look after? So much to know and how. But worry not, we’ve got you covered!
Tune into this newsletter & let's crack the code 👇
🥇What Could Data Analytics Do for Your Campaign?
Most marketers think their job is done once a campaign goes live. But the real task starts just after that!
The struggle to analyze campaign effectiveness & getting the data in place.
Marketing campaigns generate a lot of data, from campaign insights to revenue reporting, channel-level metrics & so much more. This data is important to analyze campaign effectiveness & make important decisions accordingly.
The only problem here is, it is not as easy as it sounds 😤
Here’s what regular campaign tracking looks like & the consequences that come along with it:
- Lack of availability of data leads you to make uninformed decisions and underachieve your goals.
- Without data, you can never know which aspect of your campaign you need to improve and figure out ways to increase campaign effectiveness.
- Since you don’t have the data in one place, you need to hire different vendors & invest in tons of tools which takes away both time & money.
Now imagine, where retailers and marketers could access all of their campaign data at once place, stay on top of their campaigns and use this understanding to tweak campaigns according to the performance for maximum ROI.
This is where reporting & analytics come into the picture.
Let’s have a look at what major reports retailers MUST HAVE in order to track their campaigns effectively:
🔍 Turn Data into Insights: 5 MUST-HAVE Campaign Reports for Retailers
Here are 5 reports that show the impact marketing campaigns have on the retail business:
1. Campaign Performance Report📈:
To find out all information about each and every campaign, along with the overall performance of slit groups, increase in conversion, and ROI. This empowers understanding of the success & failure of a campaign.
2. Channel Performance Report📲:
To help understand how the campaign is performing across all the different channels where it has been executed. For eg: Online (Facebook, Instagram, Twitter), SMS, Email, etc. This empowers real-time changes & learning according to the channel performance to further maximize ROI.
3. Product Performance Report⚙️:
To find out all product measures metrics such as product hit rate, uplift percentage, and overall mix percentage. This empowers you to get the best product recommendations for your next campaign.
4. Segment Performance Report👥:
To help analyzes the performance of different customer segments targeted in the campaign. This empowers marketers to understand which segments are responding positively and which ones need improvement.
5. A/B Testing Report🆎:
To find out and compare two or more variations of the campaign element (e.g., subject line, image, call-to-action) and determine which performed better. This empowers marketers to understand what specific changes drive higher engagement or conversion rates.
But remember, these reports are just the tip of the iceberg. High-time retailers should understand the consequences of ignoring these data insights. And what’s better than a CRM platform that provides all these insights & reports (and in fact, even more) in the blink of an eye?
Interested to learn more? Let our team of experts show you how data can talk!
📚 Story of the Week: How CDP Drives Retail Success
Now that we’re aware of all the major reports retailers need to look at, in order to win customers, do we really know how to run the show effectively? And how to leverage your Customer Data Insights, Analytics & so much more?
We recently covered the nitty-gritty of getting your CDP to work in our latest blog. << Read Here: CDP for Retail >>
That’s all for today!
P.S. Long time since we haven’t heard back from our readers. If you want us to cover a specific topic, do write us by emailing us and we’ll make sure to simply do that for you!
Until next time!