The Marketing Dashboard: An Essential Tool for the Management of Your Activity
When you have finalized your marketing strategy, goals and all the marketing actions you expect to pursue, you need a tool to:
- Ensure a daily, weekly, or monthly follow-up depending on the nature of the activity
- Judge the effectiveness of actions based on specified metrics
- Identify additional actions if necessary
- Control the budget envelope
A tool like a marketing dashboard will enable you to track marketing activity however you want.
What is marketing dashboard for?
The marketing dashboard is a management tool that allows you to:
- Follow the evolution of the marketing activity, based on the agreed-upon objectives
- Analyze the results, using the selected indicators
- Communicate internally
The first step is to identify key indicators of success, the objectives being tracked, and the means implemented to reach them. These factors have an impact on the overall strategy of the company
The second step is to set tactical objectives in a KPI form. KPIs must take into account the objectives and priorities of the firm as a whole, and any possible difficulties related to the collection of the information.
Once you have identified the elements you want in your dashboard, design the visual part of your tool in order to ease its interpretation and understanding.
When it is carefully designed, the marketing dashboard first allows managers to track the company’s success in terms of marketing strategy and it motivates employees.
The Qualities of a Marketing Dashboard
The marketing dashboard must be a priority for the company, as it contributes to creating value. At its best,
It serves to:
- Remind staff of the strengths and weaknesses of the company
- Summarize the company strategy
- Evaluate the impact of previous actions
- Be progressive, taking into account possible new directions for the company, so that decisions for the future will be clear and justifiable at any time.
This is why the chosen indicators must be clear.
Examples of Marketing Indicators
The traffic to your website is a good reflection of its reputation and its potential:
- Per month : How many visitors?
- What is the average time spent in each visit?
- How many new subscribers to the newsletter are there?
- How many incoming requests?
- How many tracks have been realized?
All these indicators are valuable, especially when you want to evaluation the impact of an advertising campaign.
The marketing dashboard can also display all of your marketing expenses, indicate the cost of acquiring a new customer, and measure the ROI of a marketing campaign.
The dashboard will help you to synthesize your strategy, materialize it in actions, follow their implementation and measure their effectiveness. It is also a support tool to help you to make decisions about future actions.
On the same topic, discover the utility of a marketing action plan