Advertising is king in a world that is always on and on the go. From television to radio to social media to print to the Internet to billboards, advertisements are everywhere. However, does this mean that the ads are always successful? Without being able to measure the success of an ad campaign, not only is the return on investment immeasurable, but also the other data unearthed in such metrics. There is an advertising agency reporting solution and below are five reasons to consider such reporting.
Accountability
When it comes to reporting, one benefit is that the numbers make it hard to hide from poor results or the realization that success is ready to explode. This is true both for the agency and the client. Sometimes the numbers can also point to where a breakdown occurred, helping to better realize where the change needs to come from. Seeing where the key performance indicators fall on a given campaign can also help to better track progress and to know where to edit and refocus efforts.
Goals
Most advertising and marketing campaigns have goals; an advertising agency reporting solution can help to monitor the progress of meeting the goal. If the goal is to acquire new clients in a certain targeted population segment, reporting may be able to show if this target audience is responding, whether the desired client base is being achieved, which measures are most effect and which are not. From here, the client and agency can work as a team to realign any advertising efforts as needed to help bring the goal efforts into alignment.
Navigation
Life is full of change and this is true in business as well. By utilizing and applying knowledge from advertising reporting gathered over time, it becomes easier to see how overall company or business changes affect marketing or advertising efforts. A history of data can begin to show overall trends, certain outlier moments, and provides a more objective view to subjective changes such as a new manager or change in staff.
Insight
Most companies utilize some type of dashboard for overall reporting. However, even with the graphs, charts, and tables that provide a visual reference to the reporting and numbers. Advertising reporting can provide insight, qualitative analysis and understanding of the quantitative data on a dashboard. Sometimes the advertising reporting is the explanation for outlier incidents or points on a graph.
Universal
An advertising agency reporting solution is a universal win for both agency and client. It can help to facilitate communications, reporting, staying on timeline and on budget. This extra layer of responsibility and accountability provided by the advertising reporting is a benefit for all involved as they not only have to account for the progress of a project, it also helps to ensure effort, research (as needed) and communication.
Although advertising reporting is very beneficial, not all companies want to update their CRM tools to reflect this tool. Some find that like an online dashboard, online advertising reporting is mobile, typically user friendly and helps pay for itself with a greater understanding therefore return on investment. Both agency and client may benefit from an online dashboard or reporting tool that can also be used for advertising efforts.