Reporting end-of-the-year information is crucial to understanding the growth of your franchise, where your franchise can improve, and future predictions. Your end-of-year reports should be clear and concise, include all franchise analytics, and draw insights from throughout the year. Consider creating comparison charts to measure metrics in several areas as a way of understanding where your business can improve.
- Month-over-month (MoM) reporting: This is the smallest measurement of growth to determine increases and decreases in performance such as engagement, conversions, and other activity. Unlike quarterly reports, monthly reports enable potential problems to be detected and addressed early. When deciding what metrics to focus on during your MoM report, consider metrics that are relevant over monthly time scales, including the marketing tactics executed over the monthly time period.
MoM = ((this month’s value)(last month’s value)-1)100
- Year-over-year (YoY) reporting: Instead of looking at monthly growth, YoY reporting indicates the change from the comparable amount reported in the same period one year earlier. Additionally, this kind of report provides an objective view of your franchise’s overall performance.
YoY = (this year’s value – last year’s value)/(last year’s value)
Some of the marketing metrics your franchise should report on include:
Understand how your SEO efforts contribute to the growth or stagnancy of your franchise. Reports that track traffic and conversion efforts, backlinks, and your page’s loading speed can create valuable insights into your SEO technique.
Reports on consumption rates offer an understanding of how engaged social media users are with the content you post. Consider looking into the number of views your content gets, the time spent watching or viewing your content, the number of unique and return visitors your page gets, and bounce rates.
When reporting on your e-mail campaigns, include metrics such as subscriber growth rates, open rates, click rates, and conversion rates.
Paid marketing metrics should be reported on by calculating the number of clicks, conversions, and money spent on those ads vs their conversion rate.
Start 2023 off knowing where your franchise can improve. Rather than setting uninformed goals, end-of-year reporting allows your business to examine achievements and determine areas for growth. Essentially, end-of-year reports provide vital insight to strengthen your digital marketing program.