- September 7, 2016
- Posted by: Nabler Marketing
- Category: Data Visualization
Today’s businesses always talk about devising “data-driven” marketing strategies and building an organizational culture that thrives on data, but is it as easy as it sounds? Making everyday decisions that are based on data and insights is easier said than done. Although companies spend hundreds or thousands of dollars on data analytics technologies, when it comes to daily decisions, the users need quick bytes of practical insights which are often difficult to gather from such complex applications. For marketers, the task is quite challenging as every step they take has to be based on some logic and understanding of past performance of similar campaigns. So how can we make it easier for marketers to make data-based decisions with confidence? It can be done through smart marketing dashboards or data visualizations that capture the key points that a marketer wants to track.
Here are the top 5 dashboards that can help savvy marketers in taking the right call:
1. Marketing Performance Dashboard
This is a top-level dashboard that comprises of all the relevant insights and KPIs. It should give a quick snapshot of all what is happening across the board. The key parameters to be captured in this dashboard can include: leads generated, dropouts/bounces, conversion/purchase funnels, customer journey, goal conversions, revenue achieved through marketing, channel performance, campaign performance, customer behavior, social media performance, offline vs. online performance, and so on. Since this is a high-level dashboard, it should contain the metrics that give an overall performance of the entire marketing function.
2. Marketing Campaigns Dashboard
The main marketing activity is to run campaigns to generate awareness, leads, or customers. Marketers today have a complete mix of online and offline activities that they conduct to achieve those goals. Marketing campaign dashboards will cover data from websites, referral ads, mobile, email marketing, social media marketing, AdWords, SEO, paid search ads, traditional channel ads, timing of the ads, and so on. Apart from having the general numbers about campaign performance, this dashboard can delve deeper to find correlations among various marketing activities. For instance, marketers can get insights into correlations between important customer traits (demographics/income/geography), campaign attributes (promos/offers), response rates or conversions. These kinds of correlations can generate insights such as: “60% of customers in the age group of 30-40 years, in a particular region, respond to discount coupons and 35% of them utilize the coupon codes while shopping in-store.”
3. Ecommerce Dashboard
Ecommerce is another branch altogether. The data and insights gathered here can directly help in improving customer experience on the website and have a major impact on engagement and purchases. Every step that a customer takes on an e-commerce website gives a goldmine of information for the marketers who are striving hard to increase sales, reduce cart abandonment, increase basket value, and make the customers keep coming back. Data visualizations for e-commerce can help marketers in identifying cross-sell and up-sell opportunities, as well as in identifying which segments of customers respond to which kind of marketing tactics. Advanced e-commerce dashboards can give important insights into customer behavior on the site or mobile app and highlight potential problem areas or opportunities for improvement.
4. Channel Attribution Dashboard
Every marketer needs a clear understanding of how their marketing investments are performing. A channel attribution dashboard can throw light on the amount spent on various channels, the returns achieved from all those channels in terms of click, leads, conversions, revenue, etc. This dashboard provides a quick snapshot of the quality of output generated through each marketing campaign with respect to the money and resources invested. This can help marketers in charting the future course of action, allocate budgets appropriately and forecast future returns.
5. Customer Analytics Dashboard
Understanding the customer is of paramount importance for any marketer. They need deep insights on who are the customers, what they do on the website, how they react to changes on your website, where are they from, what are they looking for, who are the most profitable customers and what are their most important attributes, what are the various customer segments, and so on. Since all the marketing activities are based on the customer – this dashboard is very important. Customer analytics dashboard gives clear insights into all such activities of the customer and enables the marketer to cater to their needs in a better way, so as to drive conversions and increase revenue for the organization.