Currently, all the marketing efforts mainly rely on data for things to run smoothly. Besides, marketing analytics has become the talk of the town following its contribution to marketing-related activities. When conducting marketing activities, approximately 49% of digital marketers only use the basic metrics. There are different kinds of marketing dashboards that are mainly used to analyze different marketing data.
The dashboards are mainly used to monitor the key performance indicators of any business to detect the areas that need adjustment to enhance customer satisfaction. Every company has unique and defined goals that need to be attained to improve its performance. The objectives can be anything such as strengthening the social media presence, among other important marketing elements.
The marketing analytics dashboard has a crucial responsibility in giving you enough room to monitor the direction in which your business is running and the progress you are making. Note that your marketing focus can vary depending on your objectives, but having a real-time marketing dashboard can help you monitor your business performance. They give you an awesome opportunity if you intend to track your failures and success in business.
Marketing Analytics Dashboard
A marketing analytics dashboard is a reporting tool that presents all the marketing-related reports. The dashboard uses data visualization to deliver data in an easy-to-read manner and provides real-time data processing. It enhances visibility within a business setting since all the marketing activities are done precisely so that you can easily track and use the information where applicable.
Marketers need to understand that marketing activity is considered an art and a science and that business professionals must balance the line between the two crucial elements. The marketing dashboard is used to track the key metrics and selling points within an organization. In addition, the dashboard should be appealing and easy to read and understand to save time during data analysis.
The reality is that not all marketers perceive marketing analytics as an easy thing since it incorporates lots of things that need detailed interpretation. However, you can easily create a better foundation that will make it easier for you to understand all the essential marketing metrics. You need to understand that not all marketing dashboards are built the same way. Read the tips shared below for more information!
Creating a Solid Marketing Analytics Dashboard
Given that every marketer has different needs, the analytics dashboards are different depending on the needs that need to be solved. When creating a marketing dashboard, you should ensure that every element of the dashboard operates towards helping you fulfill your goals in business. Also, it should display all the important KPIs, offer a unique way of measuring all the business results, and give you the freedom to make decisions based on the data.
When you begin building a marketing dashboard, you need to keep the following elements in mind:
Know Your Market Audience
Every marketing dashboard is mainly created in order to tell a particular story. This means you need to research and identify who is most likely to read the story. In addition, you need to understand the best market audience that suits the kind of story you are telling. Understand what your market audience is looking for and serve them with exactly what they need and help them solve the problem at hand.
For instance, when you are a performance marketer, you need to closely monitor all the performance metrics to help you make informed decisions that will help elevate your game in business. Conversely, a social media professional will automatically want to monitor the social media account metrics to give them a clear image of what is happening within different social media platforms.
Identify the Sources of Your Data
Marketers use different sources to collect data that they use in their daily operations. Some of these sources include emails, blogs, and social media, among other sources. Before creating a marketing dashboard, you need to understand the exact source of your data. Remember that the ultimate goal of the dashboard is to offer a general view of data even though they come from different sources.
At this point, you will have to take responsibility for using data visualization to generate insights from your data. Even though analyzing the data may seem challenging, you only need to get an awesome data visualization tool, and you are set to go. The goal is to find out all the important metrics and the sources of your data in order to get good data returns that you can utilize in your business operations.
Establish KPIs for Your Dashboard
Different types of analytics dashboards are used to tell different kinds of stories. It’s important to know your business objectives to be in a better position to monitor all vital features that matter. If you are creating a dashboard for a client, you need to identify all the business stakeholders’ objectives to incorporate them into your dashboard.
You should begin by collecting all the relevant information despite the business owner’s goals and objectives. However, you should keep in mind that the KPIs are crucial for the well-being of the business and the respective stakeholders. Also, business owners may have different needs that you need to address fully.
A top-notch marketing analytics dashboard should present the right information to the right audience. Ensure that you have an awesome grip on your audience and serve them with the information they need to create a better name for your brand.
Visualize the Data to Pass a Message
This final step is mainly focused on ensuring that the data you have presented portrays a definite message that can easily be read and understood. Ensure that your marketing dashboard tells a particular story in a compelling manner that everybody can easily read and understand. Conveying the appropriate message is important for every market that intends to succeed in business.
Data visualization such as dot plot chart, survey charts helps you ensure that the data you create is extremely easy to read and comprehend without breaking it down. Also, ensure the message is short and direct to the point to avoid wasting much of the reader’s time.
Final Verdict
Research has revealed that you only need to take 20% of your time to create a marketing dashboard and get it running. However, it will take 80% of your total time to fine-tune the dashboard to polish and visualize all the crucial aspects before you get the dashboard in the correct manner you need and visualize your preferred data. This guide can help you identify all the essential areas and what you need to fix to bring your marketing analytics dashboard to life.
Author Bio:
I have more than 12 years of experience in the field of Digital Marketing and Data Analysis, currently working as a Digital Marketing Specialist at ChartExpo.