What exactly do you get out of the term ‘marketing dashboard’? It is basically a compilation of all the relevant data comprising a company’s marketing determinations. It should be understood that, a marketing dashboard benefits marketing as well as the executive team. The availability and implementation of a marketing dashboard can provide an outlined view which quantifies the total impact marketing drops on the business. Furthermore, factors such as marketing initiatives influencing customer acquisition, sales and retention are also assessed with the help of this tool.
How to Frame a Marketing Dashboard?
The creation of a marketing dashboard requires expert help, so that it can add value to organization in need. In order to make an efficient dashboard you must seek the following functions:
- Incorporate data from different sources and showcase a consolidated view
- Show KPIs or Key Performance Indicators
- Deliver skill to measure metrics and fix decisions
- Offer a method to measure the total results & investments associated to your marketing programs
Do make a note that, creation of the accurate marketing dashboard can be a difficult process, primarily due to the intricacies linked to the digital marketing world. Every month you are introduced to new tools, which enhances the challenges to integrate this tool and push its performance in harmony with supplementary marketing tools.
Tips to Create an Operative Marketing Dashboard
Encircle Your Audience
For building an effective marketing dashboard, you need to first define the target audience. With a well-styled dashboard, it becomes clear how it can be utilized by the recipient for taking decisions. Always keep in mind that, different recipients would require different dashboards. For example, a social media marketing professional will ask for a social media dashboard that can consolidate varied metrics from websites such as Facebook, Twitter, LinkedIn, Google+ etc.
Define marketing KPIs
Always remember to determine the metrics which are important to incorporate. All such KPIs can comprise of marketing performance metrics related to each campaign or program’s presentation. Moreover, a KPI can even comprise of marketing impact metrics which bond performance to business objectives such as increase in sales, brand value or conversions. Once these KPIs are identified, you can analyze them across different dimensions.
Set Stakeholder Objectives
One should determine both short-term as well as long-term objectives of their stakeholders. Taking an example, the executives may wish to access a sophisticated dashboard which provides a complete return on budget and investment. On the other hand, an analyst would wish to acquire a detailed view of the concerned data to fix tactical decisions.
Since marketing tools can offer data in abundance, a significant tip is to utilize your marketing dashboard for conveying correct message in a quick visual form. Try to keep your dashboards simple to be created by anyone from your marketing squad. It will also help in motivating analysis and data discovery.
A very vital objective for any marketing dashboard is to combine this data for a reliable view. It should be fixed that, an amalgamated dashboard should be capable to merge multiple data sources to a single source; furthermore, it should also be linked to ROI and outcomes.