Decoding Different Marketo Reports for Better Data Analysis
Proper reporting is key to a profitable business. But that is often easier said than done, especially when using marketing automation tools such as Marketo.
Marketo offers a comprehensive reporting system with the space to generate a variety of reports. So, which one do you use and when? What is the purpose of these reports? How can you use them to provide a picture of your marketing program in a transparent, thorough, and easy-to-understand way?
In this article, we will answer these questions by looking at the different types of Marketo reports, their different use cases, and the best practices to give you a bigger bang for your buck.
Types of Marketo Reports
Marketo offers different reports to measure the performance of emails, landing pages, and web page data. Knowing which to use can help you assess engagement metrics and improve future campaigns.
Below are the different types of Marketo reports, clubbed in four broad categories:
- Tools to Measure People or Contacts
- Performance Report
- Status Report
- Revenue Stage Report
- Tools to Measure Email Campaign Performance
- Email Performance Report
- Email Link Performance Report
- Tools to Measure Email Programs and Campaigns
- Engagement Stream Performance Report
- Program Performance Report
- Tools to Measure Web Activities
- Landing Page Performance Report
- Web Page Activity Report
- Social Influence Review Report
Tools to Measure People or Contacts
Performance Report
Lead generation is essential in marketing. The number of new contacts added to the database is key to building a healthy customer base. Marketo's People Performance Report helps you track this information so that all your hard work is accurately captured and quantified.
The People Performance Report provides a summary of the total number of leads added to your database over a given period. You can further drill down the information to get details such as:
- The number of new customers
- When these contacts were added
- The source of these leads
Equipped with such in-depth customer information, you can segment leads in multiple ways to build a more direct and effective marketing strategy. Use these reports to explore ways to connect with new contacts and enhance your marketing tasks.
Status Report
When we look at all the leads in the marketing funnel, the view is barely monolithic, with each lead falling into different stages. These stages could be ex-customer, disqualified, partner, prospect, and recycled.
People by Status Report brings the focus on each customer and their status in the various stages of the funnel. It gives you an overview of the number of leads connecting to you and their funnel stage before they convert in a specific time.
Revenue Stage Report
Each company has a different revenue cycle model that includes various stages from Anonymous to Known to Opportunity to Won.
The Revenue Stage Report summarizes where each lead is in your revenue cycle. It provides insights into which revenue stage to focus on to improve your bottom line and maximize your returns.
You can also access Revenue Cycle Analytics to get deeper insights into each revenue model. Revenue Cycle Analytics shows which initiatives are working and provides their cost to your organization so that you can use this information to recoup profits and reduce costs.
Tools to Measure Email Campaign Performance
Email Performance Report
Know the efficacy of your email marketing campaigns with Marketo's Email Performance Report. It provides a glimpse into your existing subscribers and their interaction with your emails.
Email Performance Report takes all the guesswork out of email marketing with its ability to evaluate and simplify the detailed statistics behind your email campaigns. This includes all types of metrics such as the number of clicked emails, opened emails, soft bounced rate, and delivered emails.
You can also find out the status and progress of your email campaigns.
Email Link Performance Report
The first rule of email marketing is never to send an email without a link. The link can be a simple call-to-action like "sign up" or "click here," social media share or follow, etc.
Email Link Performance Report, as the name suggests, measures the impact of these links in your marketing campaigns. It tells you:
- The total number of times a link was clicked.
- The total number of unique subscribers who clicked and visited the landing page.
When you know which links are working and which are not, you can tweak them to increase the efficacy of these email links. Use some of the Marketo recommended best practices for links in emails to increase your click-through rate.
Tools to Measure Email Programs and Campaigns
Engagement Stream Performance Report
Marketo is primarily an email automation tool that supports multiple marketing campaigns such as onboarding, webinars, nurturing, or welcome emails. These email campaigns are designed for specific stages of a contact's journey with your company. Use the Engagement Stream Performance Report to get a unified overview of all these email campaigns in a single dashboard.
The report provides the engagement score for any selected email campaign using Marketo's proprietary algorithm. This score accounts for engaged (Open, Click, Program Success) and disengaged (Unsubscribe) behavior, with 50 as the neutral score. Anything above 50 is considered above average, while below 50 is considered below average engagement score.
Program Performance Report
The Program Performance Report gives an overview of the performance of all ongoing Marketo campaigns, including webinars, seminars, and user groups. Though the details in this report are minimal, you still get a good idea about the progress of every program in a single report.
The report covers details such as the number of contacts in a program, those who have attained the defined success step, new members acquired, and the program's total costs.
Tools to Measure Web Activities
Landing Page Performance Report
In times of digital marketing, there is no escaping the landing page. Landing pages generate leads using form to gather details such as names and email addresses. There are other click-through landing pages, which directly ask visitors to purchase or subscribe.
Even though landing pages constitute only 6.1% of all the signup forms, they have the highest conversion rate. And that is why you need a rock-solid strategy for it.
Maximize conversion rate by using Landing Page Performance Report, which offers details such as the number of people who filled out the form or interacted with the page. The report offers insight into the design and execution of the page as well as into ways to maximize traffic and conversion.
Web Page Activity Report
A large part of your digital marketing strategy should revolve around your company's web page. It is the digital equivalent of your business store.
Use the Web Page Activity report to enhance your web page's ROI and lead generation. This report helps analyze details of your web visitors and subscribers, including the overall performance of your website, pages with the highest traffic, links with maximum clicks, and other important metrics.
Social Influence Review Report
The Social Influence Review Report tracks all your social media-related activity of targeted customers and their sharing of social media profiles. This report is created in the Marketo social suite with use/add social buttons.
For instance, when you put your social media buttons from Marketo into a newsletter page, it shows how many people shared it through each channel and the number of unique leads generated.
Marketo Reports Best Practices
A tool is beneficial only when its user knows how to wield it well. This statement rings true for Marketo reports too.
When you are clear about your requirements from a tool such as Marketo, then only you can see its massive impact on your bottom line. Here are the top three best practices when using Marketo reports.
Define the Purpose
Develop a blueprint of questions that need to be answered when you plan for a report. In other words, define the purpose. Why do you need the report; what are the metrics you want to measure; and what are you hoping to achieve from it?
These questions will then serve as the spine for customization. Otherwise, you will end up clubbing different reports together in your hunt for dimensions and metrics.
For instance, if your goal is to determine the overall database growth for a given period, then go to the People Performance Report and its different filters. See which tactics worked and which did not to make necessary changes based on the performance and your targets.
Know Your Tools
Consistent, clean data gathering is essential while creating a report. Tools like Marketo are specially designed for this purpose. You need to know the basics – what kind of reports are available and what fields are included in each. With a range of reports available, you can familiarize yourself with each of these reports through training, consultations, and product documentation.
Marketo provides certification to users to familiarize themselves with the tool and maximize its adoption. As your familiarity with Marketo grows, you can develop your system to make it reporting-friendly. For instance, you can use tags to filter information such as customer name, region, channel, etc., or effectively utilize the "drill down" option.
Interpret Data Correctly
With a blueprint of questions in hand, you will be indirectly creating a design for your report. That's great. But generating the report is only half the job. You need to interpret it accurately to tell the story.
For instance, your report highlights a 10% email open rate or a 1% unsubscribe rate. Is that good or bad? Do you need to optimize your subject line further?
The answers to these and similar questions depend on factors like your data quality, industry, and company benchmarks. Data interpretation from these reports can make or break your marketing campaigns and directly impact the bottom line.
Conclusion
Marketing in the digital age has become a nimble-footed game of metrics and figures laid out in business reports. Marketo reports aid in making sure your business is not left behind. With its different reports addressing your various business needs, Marketo will amp your marketing game and lead your business into an ROI-bright future.
Still not sure where to start? Let Growth Natives help. Our Marketo experts can help you create customized reports based on your business needs. Contact us today at info@growthnatives.com!
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