Today’s marketers are well aware of the increasing dependence on data analysis. Especially for digital marketing teams, there exists a never-ending stream of data available for every campaign that is currently running.
We’ve found that advertising and marketing departments are desperately in need of data management and analysis systems for several important reasons—and one of the solutions they are looking to utilize are dashboards. 81% of big firms now have a chief marketing technologist, according to chiefmartec.com.
What is a Marketing Dashboard Used For?
Many marketers will be implementing some sort of dashboard in the next few years. But, what is a marketing dashboard used for? The main purpose of a marketing dashboard is to instantly have access to data. Being able to see your data the moment it’s generated is very powerful and allows marketers to update campaigns in real-time. Instant access to data and advertising numbers lets managers make better decisions and allows you to course-correct instantly.
A client recently shared with me how advertising dashboards allowed his team to see that one of their geographically targeted advertisements had slowed in reach and response. The team was able to pause the ad, reallocate the funds and revise the advertisement to re-deploy at a later date. The availability of instant analysis on their advertising numbers prevented him from wasting money and time.
Marketing Dashboard Features
The most important feature of marketing dashboards is how they allow marketers to have all their data in one application. It is possible to have multiple data sources within one dashboard – whether it’s from social networks such as Facebook, Twitter or LinkedIn, digital advertising campaigns or internal budgets and campaigns. Dashboards can also pull in data from multiple CMS applications or Excel documents.
One unique component of our dashboards is the ability to specify the cadence of data uploads. For example, if your organization’s reporting is on a weekly routine, data can be pulled and updated once a week. However, if you need to see daily campaign numbers, the marketing dashboard data can be automatically uploaded and updated every day. This allows marketing managers to instantly see how all of their data is working together and gains valuable insights from disparate sources.
Flexible Reporting with Marketing Dashboards
Marketing professionals today are also interested in the flexible reporting options that come with dashboard implementation. Dashboards can be accessed on laptops, tablets or mobile devices, so even if you’re not in the office, you can keep tabs on your budget and campaigns. They are also completely flexible and customizable, from the types of charts included to the layout of the dashboard and the colors used. Many of our clients enjoy the opportunity to customize the dashboards to their company brand.
A CMO I’ve worked with mentioned how much he depends on the flexibility of his marketing department’s dashboards. He regularly goes into meetings with one dashboard running on his laptop, ready to project, and several other supporting dashboards open on his tablet so he can easily reference his most recent data. This frees up his team from constantly creating new presentations and lets him share the most important results and insights with his peers.
Implementing a marketing dashboard takes the guesswork out of developing and updating campaigns. It allows a marketer to understand the progress of their work, and compare it to both the forecasted results and industry benchmarks. Dashboards give you powerful, real-time data and marketing insights to support your business decisions. Rather than saying, “I feel that this works,” you are able to say, “I know that this decision is the right one.”