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Did You Know...Edition 39: Marketing Reports & Tests

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Did You Know...Edition 39: Marketing Reports & Tests

Elle Humphries by Elle Humphries

Director of Marketing

Contact author Full biography

Full biography

Elle has been involved with the WSI Team and has been helping them simplify the internet since 2016 when she came on board as a marketing intern. Elle became a full-time digital strategist in May of 2017, in which she focuses her talents on Project Management and Digital Marketing for the WSI team.

Elle is now the Director of Marketing for WSI as she brings many attributes to the table, such as social media marketing, email marketing, display/search marketing, search engine optimization, content creation, customer relationship management, project management, and more!

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Summary:

The Did You Know Series is no stranger to the conversation of the importance of analytics. In past editions we have explained why your business should engage with an analytics software to make sure you remain relevant to your audience. With that being said, what can be done  to gather and analyze data/metrics to inform future marketing decisions, strategies and performance? This is the process of Market Reporting. Some of the most common marketing tests/reports are A/B testing, multi-touch revenue, channel specific traffic, blog posts by conversion, heat maps, personas, lifecycle stage funnel, and more! Each specific test provides a different perspective and/or value to you and your business. 

The Did You Know Series is no stranger to the conversation of the importance of analytics. In past editions we have explained why your business should engage with an analytics software to make sure you remain relevant to your audience. With that being said, what can be done  to gather and analyze data/metrics to inform future marketing decisions, strategies and performance? This is the process of Market Reporting. Some of the most common marketing tests/reports are A/B testing, multi-touch revenue, channel specific traffic, blog posts by conversion, heat maps, personas, lifecycle stage funnel, and more! Each specific test provides a different perspective and/or value to you and your business.

Take a look at the importance of each of the marketing reports/testing opportunities you and your business can utilize: 

  1. A/B testing is a randomized experiment with two variants (A&B) which includes application of statistical hypothesis testing or “two-sample hypothesis testing”.
  2. Multi-touch revenue attribution helps tie closed revenue to every marketing interaction from the first page view to the final nurturing email.
  3. Channel specific traffic is understanding where your traffic is coming from to help you make strategic decisions as you invest in different marketing channels.
  4. Blog posts by conversion enables marketers to understand what channels are strongest for blogs, where to spend more promotion time, and how well content is performing over time.
  5. Personas are important to help determine how accurate and successful your marketing is when targeting and reaching your customers.
  6. Lifecycle stage funnel gives you a sense of how many leads, subscribers, customers and opportunities you have in your database in a certain time period. 

Marketing reports/tests are unique because they can run at the same time (therefore, multiple marketing tests can be active at once).You do not have to choose one over the other when analyzing the information you want to collect within your business. Cool, right? Therefore, deciding which tests to utilize, comes directly your business’s activity, consumer engagement, and many more components! The more data you collect, the better your business can perform. With that being said, we hope this information will be beneficial to your business strategy! 

Now you know the importance of Marketing Reports! 

 

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