How a Marketing Dashboard will improve your Marketing Results & ROI30 October 2015
You know what a dashboard’s for, right? You get in the car and start driving: at a glance, the dashboard tells you everything you need to know about your journey: how fast you’re going, how much fuel you’ve got, if there’s anything wrong with the engine. It’s a real-time progress snapshot that allows you to quickly make key decisions, such as adjusting your speed or refuelling.
A marketing dashboard is essentially the same thing: it’s a quick, visual overview of how your marketing is tracking – showing what is working and what is not – presented as a simple, easy-to-read graphic. Like the dashboard on your car, your marketing dashboard gives you the information you need to make key strategic decisions to optimise performance and drive ROI as your campaign moves forward.
A closely-monitored campaign is a successful campaign, and the in-depth intelligence provided by a customised marketing dashboard gives you unprecedented control over your marketing outcomes. Here are some of the ways this powerful tool can help drive high-impact, targeted, results-focused campaigns:
1. Monitor every activity at a glance
Your marketing activities are multi-layered, operating on a variety of channels and levels. A dashboard pulls the data from your complex mix of marketing activities and consolidates it into one single graphic. Types of things a dashboard can measure automatically are:
• Web Analytics – your dashboard will show how many visitors come to your site, most-visited pages, how long people stay on the site, where your traffic comes from, etc.
• Google Ad Words – track Google Ad Words campaign results
• Email Marketing and Content Marketing – track open rates on emails, most popular emails and topics, click-through rates, unsubscribe and subscribe rates, etc.
• Social Media, e.g. Facebook, LinkedIn, Twitter, Instagram – track followers, most-liked posts, most viewed posts, advertising results, etc.
• CRM – statistics on leads and sales conversions
• E-commerce shop sales, abandoned shopping cart numbers.
• Events – attendance rates
• Survey results.
2. Compare targets with actual results
A dashboard gives you the concrete metrics and KPIs to show if your marketing is meeting the goals and targets set out in your marketing plan. Regular monitoring of actual results compared with targets and forecasts keeps your marketing plan accountable and on track.
3. Tweak or pull underperforming activities or channels
This one’s vital: stop wasting money or time on channels that aren’t getting results. Your dashboard will clearly show what areas of your marketing are underperforming, allowing you to tweak or revise in a timely manner, before too much time or money is wasted. This frees up valuable resources for the more successful channels and strategies.
4. Make the successful elements of your marketing work harder
The insights provided by the dashboard allow you to improve the overall efficiency of your campaigns – identify the channels, messages and Calls To Action (CTA) drawing the greatest response, and concentrate your marketing energies in these areas for even greater impact. And use the information to streamline processes: for example, content from a highly successful email campaign could be repurposed for social media. Build on the activities that work to create a really robust campaign with strong momentum.
5. Improve your alignment with your target market
A dashboard will soon reveal more about your target market – what they are interested in, their buying habits and how they are finding you: are they on Twitter or Facebook? At events or inside the shopping centre? How long are they on your website, and are they there to buy or to seek out information? What information are they interested in? What messages resonate with them? Use this information to gain a stronger presence with your target market, tailor your marketing to their habits and interests, and optimise your conversion funnel.
6. Get a holistic view
Gain insight into how the multiple layers of your marketing strategy work together. By quantifying data from all your channels into an easy-to-read interface, your dashboard will reveal the relationships between them. Is your campaign well integrated? Is your message compounding properly? Is traffic streaming through from social media to the web page to sales conversions? This unified, ‘bird’s-eye’ view of your critical metrics gives you a clearer picture of how your campaign is operating as a whole.
7. Identify and lean into trends
The graphical nature of the dashboard summary makes it easy to spot trends: line graphs show peaks and troughs in customer engagement that you can then capitalise on to further optimise results. For example, you may notice an upward trend in online sales after posting special offers on Facebook or at certain times of the year or specific days. Analysis of these trends will enable you to anticipate and strategically plan your marketing around future customer behavior.
8. Spot things you might otherwise miss
Ordinarily, you may not notice if one particular channel is gradually losing effectiveness. Regular monitoring with a dashboard will help you spot these gradual changes, giving you the opportunity to find the cause of the problem and fine-tune your strategy accordingly, and keep your entire campaign running in top gear or to re-focus your marketing efforts before too much is wasted.
A dashboard brings a whole new level of transparency and accountability to your marketing efforts, allowing you to really optimise your strategies and drive better results than ever before. Get more impact from your marketing with Blaze Marketing’s new customized dashboard monitoring service. We can generate your dashboard on a monthly or quarterly basis, and provide expert analysis and strategic recommendations for improvement. Call us now on 02 8005 400 and get your business blazing ahead.