Do you ever feel like you’re just throwing money away on marketing or advertising? Not seeing a huge ROI or no return on investment period? Confused about what to do or where to advertise?! So many business owners are, until they start using an effective monthly report, like our Monthly Marketing Report, and seeing exactly what works, and what doesn’t, as well as how well it works or doesn’t! If you’re not making at LEAST 4 dollars for every 1 dollar you spend, you need to make this change! Remember, that learning about something as effective as this and then not executing on it is a huge mistake. If you don’t USE the information you’re learning, you will never improve!
Let me tell you a story so you know I understand your pain. One of the companies I bought several years ago was outsourcing their marketing to a terrible outside ad agency. So we had the monthly cost of that, PLUS the hours they were taking up of our team’s time to get content, PLUS any ad spend, PLUS ZERO return on investment. They literally were just a huge expense. (*NOTE: not all marketing agencies are bad!!) So we got away from them and I began to teach one of my highly capable, intelligent, quick-learning teammates about marketing. She used this one tool, the monthly marketing report, to create almost INSTANT change, and at minimum a 4X return on investment. Some months she literally makes that huge ROI we want to see, like 7000% return on investment huge! And that includes the cost of her time, ads, sponsorships, everything!
This Monthly Marketing Report is our proprietary tool that’s been honed and perfected over the last 22 years! It is the one I use in all of my own companies, to produce huge ROI numbers like 7000%! It’s also the one I use with my exclusive Platinum One-on-One Coaching Clients, to get THEM amazing return on investment!
TO PRODUCE A HUGE ROI YOU NEED TO TRACK AND GATHER ACCURATE DATA
In this marketing report, we track VERY IMPORTANT data and make some VERY IMPORTANT calculations, in order to analyze and make the best decisions moving forward. That said, none of this is possible without ACCURATE DATA. There are three major ways we need to track data for our monthly marketing report:
- Ensure you ask (and track) every single LEAD, and every single CLIENT, “How did you hear about us?” and “Where else did you see or hear about us?”
- Make sure your bookkeeper is putting ANY AND ALL marketing, advertising, sponsorship, or PR expenses in the correct account on your income statement (or profit loss statement) so that you can go get a detailed transaction listing each month, and see your expenses on the different types of marketing you do. This is only possible if your bookkeeper is GETTING accurate data from you – so make sure you write on your receipts before scanning them into your app or dropping them off.
- ROLE MODEL and ENSURE YOUR TEAM uses their calendar to track time accurately! We need to know how much time is spent on each activity/platform (as well as the 2 pieces of information above) to track cost per lead, cost per client, conversion rate, and return on investment! These will be very helpful in our analyses and decision-making. If you want further information about these 4 areas, click here!
USE YOUR CALENDAR TO ENSURE DATA ANALYSIS WILL HAPPEN
The second, and equally important strategy that gets us these amazing numbers is the calendar!
- YOU as the role model (remember you’re a role model always, whether you intend to be or not) need to show your team how it’s done.
- Every important activity (such as tracking data, gathering data, preparing the monthly marketing report, and presenting it) needs to be in one or more calendars.
CREATE AND FOLLOW PROCEDURES TO SEE HUGE ROI
Third, someone (not you, unless you’re an integrator/organizer) needs to ensure that:
- Everyone is tracking data accurately
- Everyone is following the procedure for using their calendars properly
- Someone prepares the marketing report each month (which will be in their calendar)
- You review the marketing report and make decisions based on it (which will be in your calendar.)
If you’re not reviewing your goals, collecting data on your marketing activities and costs, and analyzing and changing things monthly, you will not increase your ROI!
The best marketing reports will contain:
- Your goals
- Online reviews
- How people heard about you (tracked online and in your business if you have one)
- Return on investment (for all forms of marketing activities)
- Cost per lead (for all forms of marketing activities)
- Cost per customer (for all forms of marketing activities)
- Conversion rate (for all forms of marketing activities)
- Your social media reach vs following (over 100% should be your minimum goal!)
- Top engaging posts across all platforms and their similarities
- Email campaign success (open rate, unsub rate, etc)
- GOOGLE ANALYTICS including UTM links (Forbes explains more about UTM links here)! ***SO MUCH GREAT FREE INFO HERE!
- Google search console terms
- Google ads report (if doing ads)
- THE BEST PART: Determine the changes you will implement to increase your return on investment!
Can you see how NONE of this will be useful without EXECUTION? Ensure you use a marketing report that covers all of these bases, and analyze it monthly to make more and more profitable marketing decisions!
Execution is everything! Or nothing….
If you are looking for a monthly marketing report, check out our template. If you want to be free from worrying whether or not you made the right decisions for marketing this month and have a system that operates with ease, check out our Monthly Marketing Report template comes with everything you need to see an increase in ROI in no time at all!