Predica - Measuring the effectiveness of Marketing campaigns
Marketing campaigns are more and more measurable, and therefore more effective. A thorough analysis of the impact of marketing activities on consumer behavior allows effective campaigns to be run at optimal costs. At Predica we decided to take a closer look at marketing campaigns conducted on the Internet. Therefore, we created a tool using Power BI, which is a very simple and transparent way allows us to measure the effectiveness of marketing activities. This tool can become very useful when planning activities in the future; it can also be used during business meetings.
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Identification of the problem
Before you start creating reports, you have to determine what do you want to achieve by visualizing your data. You need to know which questions you want to find the answers to and in response to that, you can start creating a dashboard.
We have identified some key issues that need to be answered:
• What is the effectiveness of a marketing campaign?
• How many leads from a marketing campaign are converted into a real business contract?
• What is the trend of social interactions in social media?
• What is the cost of a marketing campaign?
• What is the average cost of a lead?
• Which of our campaigns are the most popular and what is their profitability?
• What is the involvement of users in social media?
The solution
The solution we have implemented has all
Using Power BI You can create reports presenting the marketing performance data.
That reports could show the effectiveness of marketing campaigns. They can present the key effectiveness metrics of marketing activities, such as:
• Campaign reach – this is the total number of people who see your content. Impressions are the number of times your content is displayed, regardless of whether it was clicked or not
• Social interactions – for Facebook, interaction is considered to be alike, comment, or reaction
• Leads – these are the potential sales contacts, individuals or organizations that expressed interest in your goods or services
• Contacts – signify real contact with the potential clients
• Opportunities – an opportunity is more down-funnel than a lead or a sales-accepted lead.
Examples of capabilities
On the funnel report, we can see how ranges built with social media translate into real business contract conducted with the company. Dashboards can show the KPI of the financial dimensions of the campaign. You can also check KPIs measuring the ratio of transition to the next phases.
The report could also demonstrate the key indicators for analyzing marketing campaigns. With the right filters on, you can analyze the results of selected campaigns. You can make a selection by date when the campaign was created, as well as filter them by name.
Example of key information for running campaigns are:
• number of active campaigns
• number of experts that have published an article as part of marketing activities
• obtained leads
• an average number of leads acquired as part of one campaign.
The report shows also the profitability of the current marketing campaigns. Cost-effectiveness is shown by the cost estimates for a given campaign and leads that were obtained as a result of the campaign. In addition, it allows us to analyze the results over time, a function enabled by the special play button.
For campaigns running on Facebook, you can make a visualization of necessary statistics. In addition to previously used metrics, there are also post likes and clicks which are characteristic Facebook metrics.
Our best marketing campaigns, we can define by the number of engaged users, generated likes and built ranges. The second ratio is the commitment of users over time. Thanks to the filters, we can freely watch the selected marketing campaigns or analyze campaigns in the timeframe we are interested in.
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