A Guide to Building the Best Marketing Dashboards
Discover how to create effective marketing dashboards. Learn to select key performance indicators, visualize data, and gain insights for better strategic decisions.
What is a Marketing Dashboard?
A marketing dashboard is a combined platform which gathers multiple marketing indicators and performance data into a single, consistent display. It is a powerful tool for marketers, allowing them to track, analyze, and report on the efficiency of their efforts in real time. A marketing dashboard provides a comprehensive overview of your marketing efforts by combining data from several channels such as social media, email marketing, website analytics, and paid advertising.
This enables marketers to make quick decisions, discover patterns, assess success against key performance indicators (KPIs), and make data-driven changes to optimize their plans.
When it comes to successfully visualizing, analyzing, and tracking KPIs for your marketing campaigns, dashboard tools can be of great help. In addition, a good marketing dashboard combines all the necessary tools for tracking significant aspects of marketing initiatives and their effects on the company. Numerous data points can be viewed quickly, including leads, conversions, ROI, website traffic, social media interaction, etc. Marketing dashboards can help you spot trends and find patterns so that you can modify your strategy as required.
Table of Contents
Types of Marketing Dashboards
Marketing dashboards are available in lots of forms, depending on your marketing requirements and objectives. Some common types are :
Campaign Performance Dashboards: These dashboards monitor the performance of certain marketing campaigns, offering data on parameters like conversion rates, ROI, and customer acquisition costs.
Social Media Dashboards: These dashboards collect data from numerous social media platforms, allowing marketers to track engagement metrics, follower growth, and the efficiency of their social media campaigns.
Website Analytics Dashboards: These dashboards track website performance by monitoring traffic sources, bounce rates, user activity, and other metrics to improve the user experience and conversion paths.
Email Marketing Dashboards: These dashboards give you a comprehensive snapshot of your email campaigns, including open rates, click-through rates, and subscriber growth.
Understanding the different types of marketing dashboards will help you select or develop the one that best meets your needs.
What Should be Included in a Marketing Dashboard?
A marketing dashboard should contain all the data a marketer needs to understand better. It should meet their KPIs or monitor the work that falls under their scope. Typically, the following options would be present in a marketing dashboard:
Website performance: A digital marketing dashboard typically has statistics for your website performance, such as bounce rates and time spent on the site.
Traffic sources: You should pay close attention to the websites, social media platforms, organic search results, and sponsored advertisements that bring people to your website.
Social media metrics: Rather than concentrating only on the number of followers on social media, make sure you have marketing dashboard tools for monitoring the success of calls to action (CTAs).
Digital ad information: Online advertisers can monitor their paid search engine marketing campaigns and see real-time statistics. This enables marketers to identify patterns.
How to Create a Marketing Dashboard
In this segment, we will create a marketing dashboard, from selecting the right metrics to designing and presenting the dashboard to stakeholders. We will cover key concepts such as choosing the correct performance indicators (KPIs), creating compelling visualizations, and integrating data from multiple sources.
1) Define your objectives and KPIs:
Before creating a marketing dashboard, defining your objectives and key performance indicators (KPIs) is essential. These will help you focus on the most critical metrics and ensure your dashboard provides meaningful insights. Make sure to choose KPIs that are relevant to your business goals and are measurable.
2) Choose the right metrics:
Once you have defined your objectives and KPIs, you need to select the metrics that will help you track your progress toward those goals. Choosing metrics that are relevant to your business, easily measurable, and provide actionable insights is essential. You can also use a combination of leading and lagging indicators to get a complete picture of your marketing reports.
3) Design a clear and concise dashboard:
A marketing dashboard should be designed to make it easy to read and understand. Use clear and concise visualizations such as charts, graphs, and tables to present your data. Avoid clutter and focus on the most important metrics. Use color coding and other visual cues to draw attention to significant trends and insights.
4) Regularly review and update your dashboard:
Marketing metrics and KPIs can change over time, so regularly reviewing and updating your dashboard is important. Set a regular cadence for reviewing and updating your marketing metrics dashboard based on your business needs. This will help you to stay on top of changes in your marketing performance and adjust your strategies accordingly.
What are the Benefits of a Marketing Dashboard?
A marketing dashboard enables marketers of any experience level to examine the metrics and insights that are important, quickly. By eliminating the need to switch between apps and platforms to monitor social media analytics, website analytics, or campaign metrics independently, marketing dashboards help marketers save a lot of time.
Marketing team members can view KPIs and campaign data in real-time using dashboards. This is important for managers, who can respond quickly to change marketing strategies or reallocate resources based on how well one channel performs compared to another.
Because these technologies are so easily customizable, marketers can quickly keep track of specific KPIs for various campaigns. Managers can customize their marketing KPI dashboard, reporting capabilities, and frequency, allowing them to adapt the data to particular needs and contact stakeholders as soon as possible.
Data visualization techniques like charts and graphs are frequently used in marketing dashboards to help users understand complex data and spot trends.
How can a Dashboard Boost your Marketing Department?
When applied correctly, marketing dashboards can help your team's marketing deal with various issues, such as blocked communication and misinterpretations of consumer behaviors. A marketing dashboard can boost your marketing department in the following ways:
Improved visibility: Marketing dashboards make it much easier for marketers to keep track of their sales team and their progress without having to check in with each team member separately.
Enhanced efficiency: Any marketer with a hectic schedule will find generating reports and viewing stats on many platforms time-consuming. This inefficiency is eliminated by a marketing dashboard, which combines google analytics from many sources for easy viewing.
Real-time customer data: Marketing dashboards are regularly updated, providing marketers with a real-time picture of customer behavior, website traffic, and even the status of lead generation.
Improved KPI monitoring: By keeping KPIs at the forefront, the marketing team can do a much better job of meeting them. Marketing dashboards can also assist marketers in better understanding any obstacles or issues that may be stopping them from achieving KPIs.
7 Marketing KPIs You Should Be Tracking
To ensure that your marketing campaigns are successful, you must be aware of the KPIs that should be used to determine the efficiency of your marketing initiatives.
Developing a solid advertising plan and launching effective and successful marketing campaigns is the secret to generating more sales and overall company growth. But how can you decide which marketing KPI metrics to concentrate on when so many can be tracked?
The most common marketing KPIs, such as cost per lead, conversion rate, and traffic, are the focus of many marketers and company owners. These KPIs should be monitored for an effective marketing ROI.
1. Customer Acquisition Cost (CAC)
<CAC = Total Cost of Sales and Marketing / Number of New Customers Acquired>
The expense of turning a prospective lead into a customer is the customer acquisition cost (CAC).
Because it enables you to make important budgetary choices, this metric can be used to enhance your marketing.
The lifetime worth of a customer is another factor that can be used to decide how much money to spend on marketing. This metric shows how much a company can earn overall from a single customer.
2. Lifetime Value of a Customer (LTV)
<LTV= (Average Revenue Per User x Gross Margin %) / Churn Rate>
Another metric that may assist in deciding how much cash to spend on advertising and marketing is the lifetime price of a customer. This metric suggests the full quantity of sales an enterprise can count on to make from an unmarried customer.
This is a helpful metric to compare to CAC. For instance, you may need to pay more to acquire customers if your CAC is more significant than your LTV.
3. Return on Investment (ROI)
<ROI = (Gain from Investment – Cost of Investment) / Cost of Investment>
The difference between your financial benefit and marketing expenses is your return on investment.
The return on your investment is determined by deducting marketing expenditures from sales growth and dividing the result by marketing costs.
4. Social Media Engagement
Not to repeat ourselves, but social media plays a big part in the promotion. Engagement is one of the key KPIs for social media.
Likes, shares, comments, messages, tags, and references could all be tracked. Every interaction that a lead or buyer has with you qualifies as engagement.
You can evaluate the effectiveness of your social media messages by tracking engaged marketing.
5. Website Visitors
The primary objective of a marketer is to draw customers to their business. Getting website visitors is an excellent method to achieve this.
An essential KPI is website traffic because it can be used to measure the effectiveness of various campaigns.
For example, if you monitor organic web traffic, you'll be able to determine the performance of your SEO team.
On the other hand, if you are keeping track of web visitors coming from social media, you can use web visitors to determine how many recommendations your social team is sending your way.
6. Conversion Rate
<Conversion Rate = (Number of Conversions / Number of Visitors) x 100%>
The conversion rate is the proportion of site visitors who carry out the targeted activity. Anything from submitting an online form to signing up for a service or purchasing could be what you want to do.
This KPI is useful to monitor because it shows how effectively you generate leads.
7. Organic Traffic
The effectiveness of your SEO attempts should be evaluated. You should monitor the KPIs for organic traffic and keyword success to achieve that.
You can use an SEO tool to check how well your business performs for specific search engine terms.
This KPI will guide your overall SEO and organic marketing efforts.
Conclusion
In conclusion, creating a marketing dashboard can be a powerful way to track and measure the success of your marketing campaigns. By following a step-by-step process, you can create a dashboard that provides the information you need to make data-driven decisions and improve your marketing strategy. The key is to identify your goals and KPIs, select the right metrics to track, choose the right tools to build your dashboard, and continually monitor and adjust your dashboard as needed. With a well-designed marketing dashboard, you can gain valuable insights into your marketing performance and take action to drive better results.
The best marketing dashboard tool is Mokkup.ai. It’s a simple, user-friendly tool with a simple interface that allows you to monitor marketing KPIs effectively. Mokkup truly lives up to its name and offers clear, easily readable data pulled from multiple marketing channels. The best thing about this tool is its seamless functionality. You must select the marketing metrics dashboard template, and Mokkup.ai will do the rest. It automatically populates the marketing dashboard templates with all the data sources.