WTF is a Marketing Report? WTF Marketing Jargon Busting 018

Описание: What is a Marketing Report?

In this episode Martin Henley of The Effective Marketing Company answers the questions: What is a Marketing Report? Why is a Marketing Report important? Who needs a Marketing Report? What are the issues with Marketing Report? How do you produce a Marketing Report? and when do you produce a Marketing Report?

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This is the start of the transcript, you will find the full transcript here:

What is a marketing report?

Hello there my name is Martin Henley, this is the What The series and in episode number 18 we're answering the important question what is a marketing report and are you really expecting to be successful in your sales and marketing without one?

What are we going to cover in this marketing report definition?

In addressing the question what is a marketing report there are six things we'll be sharing with you we are of course gonna answer the question what is a marketing report? We're gonna answer the question why a marketing report is necessary; who needs a marketing report; if there are issues with marketing reports; how you do a marketing report and when you do a marketing report?

Let's get this started Sonny.

Did we find a marketing report definition?

As always, when we come to bust this marketing jargon, we are looking for a definition and we found this one right at the top of google at datapine.com. What they tell us is that a marketing report is “a set of data created to analyse the performance of a specific marketing campaign or effort. It is utilised to effectively communicate a company's marketing strategy including research, promotional tactics, goals and expected outcomes.”

The reason I'm sharing this definition with you is because I really like it but I do have a couple of issues. For example when they talk about “a set of data created to analyse the performance of a specific marketing campaign or effort,” my marketing report is actually specifically reporting on all of our marketing campaigns and efforts. The second part of this sentence or the second part of this marketing report definition; “it is utilised to effectively communicate a company's marketing strategy, including research, promotional tactics, goals and expected outcomes,” - all of that work has gone into my marketing strategy, which is a separate document. The marketing strategy has informed the actions that we are taking and the marketing report and will remind us every month of what those objectives are, informed by the marketing strategy and show us how we are performing against those marketing objectives.

Why is a marketing report important?

Which brings us to question number three which is the question why is a marketing report important? Let me tell you, a marketing report is critically important for three very good reasons. The first reason is that this is how you manage your performance with your bosses or your clients; the second reason is that this is how you stay focused on what it is that you're looking to achieve and the third reason is that this gives you an opportunity to think about what it is that you are doing.

Typically what happens, if you have a new boss or a new client, is they come to you because they are worried about a particular problem; most likely they don't have enough sales in their business or enough profit in their business. Because you're a cool marketer you tell them don't worry everything's going to be cool, we can fix this for you. The client is then like whatever you can do to resolve this issue please just get on and get it done because i need profit in my business. Then what happens is you go to work and some time passes, typically it's about three months, and the client starts to wonder what's going on with his marketing investment, at which point they start to get very inquisitive. If you don't have the data to back up how their marketing is performing then you will be found guilty and you will be terminated. Categorically, you don't want to get terminated from your marketing projects so my advice is that you produce a marketing report. Of course, this go entirely the other way, if you are producing a marketing report and you can demonstrate monthly that you are delivering a return on investment, that you are delivering value, then there is no reason why you can't go back to your client or your boss and tell them this is what I'm doing with your investment, give me more investment and I can do more. So it could become very positive.

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