BFCM is the largest event of the year for a marketer.
Marketing teams spend 100s of hours in the run up to this week - planning the content calendar, producing ads and making the tech stack ready for the traffic. It’s no surprise that every year, over $35B is spent on paid marketing campaigns.
In spite of this, when you ask a marketer how their campaign performed, they struggle to provide a clear answer. And this is not restricted to BFCM.
Marketers at all levels including CMOs, CFOs and CEOs struggle to measure ROI on paid marketing, let alone other more complicated channels.
We all have reports, and we spend countless hours preparing those. But do they answer our questions? Not really.
Here’s a fact for you:
Marketing teams spend 5-10% of their ad spend on reporting!
An average marketing team or an agency managing $10M on paid ads annually, spends 40-80 hours a week on reporting. That’s ~4000 hours a year ~ $500K in just human hours.
Why is reporting broken (even in 2024)?
It’s 2024 - we’re going to Mars, we have self-driving cars and AI that has all the answers. Then why do we build reports like we’re still in 1990?
Here’s how reporting works in 90% marketing teams:
1. Bringing data together from countless sources
There’s ad platforms (10s of them), then there’s first-party data in your CRM, there’s the source of truth, and website analytics, your BI tool, and so on.
You spend more than a day to bring all of it together in an Excel sheet and the data doesn’t add up. Well, surprise surprise!
2. Stitching it together to find patterns
Once the data is put together, the next hurdle is to find the answer. With 100s of campaigns and 10s of metrics, there are just so many moving parts that it’s very easy to get confused.
Once you’ve figured out the questions - then comes finding the answers & looking for patterns:
- How one metric influences the other
- How user cohorts move down the funnel
- How different angles and positioning influences buying decisions
Oftentimes, this root cause analysis is a complex process influenced by multiple variables and as humans, we tend to miss the obvious patterns.
3. Crafting narratives i.e. making the data speak
The hardest part - because of the highly subjective nature of the process.
All of us have our own biases, and it’s possible to miss the important underlying trends when we try to fit the data into our agenda.
This is both science and art and that’s what makes it so hard.
GetCrux - The AI-powered 1-click Reporting Engine
Over the last 1 year, we’ve worked closely with 250+ marketing teams that manage over $350M in ad spend. This includes some of the Fortune500, some of the fastest growing startups, marketing agencies, and even solopreneurs around the globe.
All of them had the same problem:
“20% of the marketing team’s bandwidth going into repetitive tasks - mainly reporting”
All of that changes now!
We’re introducing the ‘Fastest Insights Reporting Engine for Performance Marketers’.
Marketing teams can now create reports in 3 simple steps:
- Connect your ad accounts and 3rd party data sources to GetCrux
- Select one of our templates or create your own
- Boom! Your report is ready in seconds
We know it’s not that simple - you want to add a few things, change the narrative, send clarifications to the management - we get it.
To solve that, we have our Copilot - with full context about your business, marketing objectives, and industry benchmarks - ready to answer all your questions.
How to get started?
There is no once-size-fits-all. So we have an onboarding process where our very own performance marketer finds out about your needs and sets up the platform for you.
To know more, find some time on our calendar.
