The world of marketing has changed significantly in recent years. With the wealth of data available and marketing channels constantly evolving, it is more important than ever to make data-driven decisions and continuously monitor and optimize activities. In data-driven marketing, marketing dashboards can play a pivotal role in keeping track of data and successfully managing actions. But why are marketing dashboards so helpful in increasing efficiency and making data-driven decisions?
The complexity of marketing
Modern marketing is more complex than ever. Companies have access to a variety of marketing channels, including social media, email marketing, content marketing, search engine marketing, websites and many more. Each of these channels generates a wealth of data that must be analyzed to measure the success of an effort. At the same time, budgets need to be managed, audiences need to be addressed, and it needs to be ensured that goals are being reached. This can be overwhelming without the right tools. Choosing the right metrics is also critical to the success of your marketing dashboard and must be customized according to the objective.
The marketing dashboard as a solution
That’s where the marketing dashboard comes in. It acts as a central platform that allows you to collect, visualize and analyze marketing data from a variety of sources. Thus, it provides an instant overview of the performance of various marketing campaigns, channels or websites in the business intelligence tool of your choice (e.g. Tableau or MS Power BI). Dashboards have even more benefits, which we will look at together in the next section.
The versatile benefits of BI dashboards
Up-to-date data: Marketing dashboards provide up-to-date data, sometimes in real time, enabling marketing teams to respond quickly to changes in performance. If a particular measure or website is not performing as expected, the team can make immediate adjustments without having to wait for weekly reporting.
Centralized overview: Instead of switching back and forth between different tools and platforms, all relevant information can be displayed in one central location. This saves time and effort and also simplifies the comparability of individual measures. In addition, the dashboard can be accessed across teams.
Data-driven decisions: Marketing dashboards provide visual representations and calculations of complex data that are easy to understand. This makes it possible to take informed decisions based on data and to identify trends, for example in user behavior, at an early stage.
Automation capability: Marketing teams often have to juggle a variety of tasks, from reporting to segmenting customer data to campaign optimization. By automating the collection of data via interfaces (APIs) or monitoring tools and processing it directly in the tool, manual time-consuming tasks and potential errors can be minimized.
Interactivity & flexibility: Data can be processed and filtered according to individual requirements, for example, data can be displayed exclusively for a specific target group, specialist area or landing page if desired. Through numerous interactive elements of the widgets, such as tooltips, dropdown menus, buttons and hyper-links, meaningful and relevant insights can be gained.
Optimize resources: With clear insights into the performance of marketing activities, companies can deploy resources more efficiently. Budgets can be reallocated to support the channels and activities that produce the best results or whose performance should be increased.
USE CASES
Some exciting use cases that can be optimally integrated into your marketing dashboard:
User Journeys
Website performance incl. conversion and event tracking
Social media performance
Social media and web monitoring
Ad campaigns
Email marketing
Event management tracking
Conclusion
Marketing dashboards are not just a trend, but an indispensable tool to succeed in a data-focused environment. They provide up-to-date data baselines, centralized overviews, and the ability to make data-driven decisions. By selecting and tracking the right metrics, marketing teams can increase efficiency and continuously optimize their campaigns. Data consistency and accuracy are critical.
Want to optimize your marketing reporting? Feel free to get in touch with your use cases and we will support you from selecting relevant KPIs, data sourcing and modeling, to creating and deploying dashboards in your desired BI tool. Find out more on our website and feel free to contact us!
