Data is dominating the headlines. From the latest Covid-19 figures, to what we’re googling, doing, and buying, in these times of lockdown, everywhere you look online you see a new data model or chart telling you something new. Data has always been important to how we operate, but it’s clear that in times of crisis, what’s more important than ever is how that data is presented so we can make sense of it. When it comes to your business, do you have everything you need at your fingertips to understand, adapt, and act?
There are few external influences you can control. But whether it’s the weather, a recession or, a global pandemic, there will be opportunities to adapt and maybe even come out stronger the other side. The trick is to get ahead and see the writing on the wall before your competitors. Reporting that gives you a true measure of customer engagement or shopping habits will be critical to your success in doing this.
And it’s not just times of crisis that reporting will land you in good stead. The reality is that businesses that get ahead, planned ahead, with careful examination of past performance and execution of the best path forward. Here are a few things to look out for with your reporting from your providers so that you’re equipped for success
Are you able to see what’s going right?
It’s a lot easier to celebrate your successes when you can see in a snapshot what they are! Not only do you then have some proof for your stakeholders, you can also drill down to see what went right and replicate that action for future campaigns. Whether it’s proving ROI, seeing the open and click rates of campaigns, or tracking average order values for different customer segments, your platform should give you the tools to surface the most important data, as well as drill-down with more detailed reporting.
Can you see what needs improving?
Does your platform provide you with actionable data and allow you to identify where performance has dropped? This downturn in results may well be outside of your control, but by catching it early, you can pivot and improve. Does your platform enable you to clearly see if open rates have dropped? Or if customers or prospects are stalling or even dropping out of automation programs? Don’t miss out on crucial events that could be rectified.
Can you identify what’s changed?
Whether the numbers are going up or down, you need to know about it in a glance! Good or bad, a change in performance will require action, to either replicate success elsewhere or identify what’s gone wrong and adapt. For external influences like Covid-19, time is of the essence. Being able to quickly spot what’s changed will equip you to act in the right way, before your competitors. Better still, you’ll be acting off data, not your gut. For instance, like many retailers, you may have found that your open rates of email and SMS have increased lately. But are you getting the same uplift in click-throughs? Or ROI? Improving the two will have very different strategies to employ. With click-throughs, you should focus on tweaking your campaigns themselves. But if ROI is the problem, then your landing pages will need to be the ones put under the microscope. Knowing where to place your efforts will empower your business.
Does your reporting help you to fine-tune?
The more actionable data you have at your fingertips, the more you can tweak and test campaigns to get the best possible results. For this, you need real-time data in reports that immediately communicate. After all, experimenting with your sends or campaigns is only going to be worth doing if you have perceptible results to act from. Recently changed up some CTAs? You should be able to compare with past results to see if you’re onto a good thing. Leveraging dynamic content for ultimate personalization? Prove the ROI to your stakeholders with ease.
New ways to view your data are coming to dotdigital Engagement Cloud on May 6th. To learn more: