Are you gearing up for your 2024 marketing plan? If so, you're likely grappling with the daunting task of analyzing last year's data, drawing valuable insights for your campaigns and wondering how to accomplish efficient cross-channel marketing reporting.
Fortunately, we have an exciting new feature to introduce you to within the Launchmetrics Insights module: Ad-hoc brand performance reports. With this tool, you're not only able to visualize pre-defined dashboards and reports, but also build your own cross-filter reports. Define metrics and dimensions that matter most to you and easily save, share, or export these reports into an Excel file.
Before we delve further into this game-changing feature, let's first discuss why access to cross-filter reports is crucial for your marketing, PR, and communication activities.
In this article you’ll learn…
What Are Cross-Filter and Cross-Channel Marketing Reporting?
A cross-filter or cross-channel marketing reporting is a valuable tool for businesses in Fashion, Lifestyle and Beauty (FLB) to gain insights into their campaigns' performance. This tool enables marketers to combine various metrics and dimensions, providing a comprehensive view of different aspects of their marketing efforts. By gathering and visualizing data from multiple sources, marketing and communication professionals can easily compare numbers, identify patterns and trends, and draw valuable conclusions that help them make informed decisions.
Why Is Cross-Channel Marketing Reporting Important?
One of the key benefits of a cross-filter marketing report is the flexibility it offers. Marketers can match different items of their choice within a single report, which means they can tailor their reports to align with their specific goals and objectives. This enables businesses to optimize their marketing strategies, save time, and drive better results. With a cross-filter marketing report, it's easier than ever to access and compare data from various sources, and to gain a comprehensive understanding of the performance of your brand marketing campaigns.
Let's simplify and exemplify the 3 main reasons why cross-filter marketing reports are important for your role as a marketer or PR professional:
- Invaluable Insights: Cross-filter marketing reports provide you with a wealth of valuable insights by combining different metrics and dimensions. Imagine being able to easily compare numbers from various sources and uncover hidden patterns and trends. For example, you can analyze the performance of different marketing channels, identify which Voices are driving the most value, or even understand how specific Influencers are engaging with your brand. These insights empower you to make informed decisions, optimize your strategies, and ultimately achieve better results.
- Goal Alignment: With cross-filter marketing reports, you have the flexibility to align your reports with your specific objectives. This means you can customize the report to include the metrics and dimensions that are directly relevant to your goals. For instance, if your objective is to increase brand awareness, you can focus on metrics like potential reach, placements, or Media Impact Value™. By aligning your reports with your goals, you can easily track your progress, measure the success of your initiatives, and make data-driven adjustments to your marketing and PR efforts.
- Time and Resource Efficiency: Cross-filter marketing reports save you precious time and effort by consolidating data from multiple sources into a single, easy-to-access report. Instead of manually gathering data from various platforms and spending hours generating separate reports, you can now streamline your reporting process. This efficiency allows you to focus more on analyzing the data and less on the tedious administrative tasks associated with reporting.
How To Create Cross-Filter Reports With Launchmetrics Insights
Building cross-filter brand and marketing reports in Launchmetrics Insights is as simple as a few clicks. Let me guide you through the process:
- Getting started: Head over to the "Report" tab on the main menu and select "Create report". Now, you're ready to dive into the customization of your report.
- Choosing dimensions: Select the dimensions or "groups" of data that you want to analyze. For example, you can choose to analyze data based on channels and location. This allows you to gain insights into how your brand is performing across different platforms and geographical regions.
- Metrics that matter: Next, choose the metrics that align with your goals from a vast selection of over 15 different options. You have the flexibility to select metrics such as Media Impact Value™, Potential Reach, Placements, Engagement Rate, and more. These metrics will help you measure the effectiveness of your marketing efforts and gauge the impact your brand is making.
- Filtering made easy: If there are specific groups that you want to filter or exclude from your report, the top bar menu offers a user-friendly interface to accomplish this. This allows you to focus on the data that is most relevant to your analysis and avoid any unnecessary noise.
- Comparative analysis: Specify if you want to compare your data with a different period, such as comparing current results with previous year's performance. This comparative analysis can provide valuable insights into your brand's growth and help you identify trends over time.
- Preview and share: Click on "Preview Data" and voilà! Your ad-hoc report instantly appears on your screen. From here, you have the option to save the report for future reference, or easily share it with your team members. Alternatively, if you prefer to work with the raw data, you can export it into an Excel file for further analysis or reporting.
For a visual walkthrough of the entire process, we have recorded a quick tutorial that demonstrates how easy it is to build cross-filter brand and marketing reports using Launchmetrics Insights 👇
Marketing Performance Report Template: 3 Types Of Cross Channel Marketing Reporting To Help You Extract Conclusions For Your 2024 Plan
If you are a CMO…
Analyze your data grouping it by Brand and Location. Focus on metrics like MIV® (Media Impact Value™) and Avg MIV® to identify:
- The logos that have the highest media impact
- The logos that have the highest return
- The regions where your different brands generate the most value
Use your data analysis to inform decisions on where to invest your marketing budget. Consider factors such as brand and location, and make strategic choices based on what will yield the most return for your investments this year. Check out our example below.
If you are a Marketing Director…
To gain valuable insights from your data, group it by Voice Type and select metrics such as MIV®, Placements, and Avg MIV®. Then, consider including a data comparison with the previous year.
This ad-hoc report will provide you with visibility on the performance of various Voices - Influencers, Owned Media, Media, Partners, and Celebrities - and how they contributed to your brand compared to previous year. Through this report, you'll be able to identify:
- Voices that offer a higher return on investment (where Avg MIV® is higher compared to others) or with the highest growth compared to previous year.
- Voices that amplify your brand the most (by analyzing the biggest number of placements).
- Whether your budget allocation aligns with the results you're obtaining from the different voices.
By leveraging this information, you can adjust your strategies for the year and achieve a better balance of resources and efforts based on your objectives. Check out our example below.
If you are an Influencer Marketing Manager…
Start by grouping your data by "Voice name" and then filter it to display only Influencers. Select the metrics that are most important to you, such as MIV®, Engagement Rate, or Placements, and click preview. This will generate a comprehensive list of Influencers who are making a significant impact and providing media value to your brand.
Thanks to this ad-hoc report, you can quickly gain insights by:
- Identifying the Influencers who offer the highest value to your brand (consider whether you are investing enough in them).
- Recognizing the Influencers who represent the best brand ambassadors, as they consistently post about your brand and products (look for a higher number of placements).
- Segmenting the data by location to better understand how Influencers are performing in different regions or markets.
By leveraging this information, you can optimize your influencer marketing strategies to achieve better results and maximize your brand's impact. Check out our example below.
If you're interested in learning more about the new Launchmetrics Insights feature, feel free to request a demo and chat with one of our expert consultants. Don't hesitate to reach out!