How do I keep my clients happy? How do I explain them my work is required for their business? Even after trying numerous ways, why is my client still unhappy with my work? Are you often caught up with these questions in your head at the end of every month when you are about to prepare your Monthly Report?
This exact problem was adressed by Senthil Kumar Hariram who was a speaker at Clientjoy Agency Summit in his session on “Advanced Reporting To Unclok True ROI Metrics & Wow Your Clients”.
Before finding out how exactly you can achieve and provide a Wow factor to your client, let’s analyze a very basic scenario everyone will be facing while interacting with clients, especially while reporting your work and progress!
This might come out as a funny meme to you, but what Senthil highlighted was, if you spend some time thinking about the every month scenario where you are paying someone to do something, then you will realize how you and the client perceive the report differently. And what are different metrics that matters to the client because you’re supposed to show the result they want to see not something that looks fancy.
As a digital marketer, we jump to joy when sales starts and put everything we can think of into report, add the data to some fancy infographic and think like our job is done! But the important thing is to understand what’s the true ROI to them?
From the conversations with variety of industry leaders and professionals, he stressed on the point that while working with client, CEOs or CMOs, you got to learn the language they speak. The main language they understand is the language of “P&L” (profit and loss) and it’s the true ROI in their head.
So next time you’re sitting and preparing your monthly report, you know you’re not preparing just another report. You’re working on different aspects of what your upcoming strategy should look like and roadmap for next month!
Now Let’s See What’s the important metrics for marketer!
The most important yet ignored metrics for makreters is Life Time Value ( LTV ). If we want to define LTV, it’s the amount of profit you generate from a particular customer over the course of an average customer engagment with the business. The money is on that, as you get the recurring payments out of it! Take reference of the following example of calculating LTV for both B2C and B2B.
Keeping these things in mind make sure that your report contains atleast 4 of the points mentioned above to make sense out it. Otherwise no matter how much data you include in report and use the fanciest template you will only be reporting various vanity metrics that client doesn’t account for and care about.
If you want the ultimate monthly report template for 2020 by Senthil to Wow your client, then head to his LinkedIn profile and message him to get your copy!
Senthil Kumara Hariram is the VP of Marketing at Stan Ventures and Neil Patel Digital India. The major fuel for him has been the focus of digital marketing on Organic Growth. With learnings from his father, Neil Patel and Ryan Serhan, he has been helping clients over the globe for more than 14 years to setup and scale Digital Marketing Campaigns.
He also hosts a Podcast called “SEO On-Air” which focuses on learning SEO hacks from the industry leaders to achieve great heights in the business.
Checkout the detailed explanation by Neil Patel to understand the concept of LTV thoroughly and calculate LTV for your business.