How to Utilise Marketing Dashboard Reporting For Better Analysis

In the business landscape we live in, there are increasing complexities and diversities associated with marketing with each passing day. Today, with the amount of data available, it becomes tough for marketers to focus on making sense of the data to improve internal accountability. It becomes crucial to analyze and interpret data cohesively. A great way to do this is by using a marketing dashboard that generates different types of marketing reports. These reports have specific information and typically structure the data in a more easily readable way. 

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Marketing dashboards are great reporting tools. They provide an overview of marketing analytics, metrics using data visualizations, and KPIs, to a business’ marketing team. This helps marketers have constant visibility into the business’ marketing performance. Marketing dashboards are great for businesses to take a step back and continuously question internal performance. They help in making course corrections – be it hourly, daily, or weekly, and in turn, provide proper reporting cadence. With marketing dashboards, companies can generate reports which make it easier for marketing teams to understand how well campaigns and strategies are performing. 

Why should you use a marketing dashboard? 

The bottom line is clear – a good marketing dashboard helps you generate reports. Reports lead to a better understanding of the data. These reports are to analyze a company’s performance. 

In addition to providing marketers with high visibility on internal and external performance, marketing dashboards are great for – 

1. Improving ROI: Marketing dashboards curate data that businesses can use to identify strong marketing strategies, and in turn, improve their ROI. Analytics and data help businesses understand which strategies are working, and which need to be replaced by higher revenue-generating strategies.
2. Stronger Team Collaboration: Fragmented data can be tough to deal with; however with structured data, teams can collaborate and communicate better.
3. Motivation Tool: With the help of a marketing dashboard, a business can easily understand each employee’s contributions and performance, vis-a-vis their goals. This in turn motivates employees and creates a more high-performing environment.
4. Better Decision Making: Using data and metrics allows for more informed business decision-making. Through a good marketing dashboard, a business can make better decisions in terms of its long-term goals, and daily operational activities.
5. Tracking Developments: As a business looking to track KPIs constantly, it’s important to have metrics and data handy. By extracting KPIs from strategic goals, businesses can generate actionable insights.

What should a marketing dashboard include / What are the different types of marketing dashboard reports available?

Businesses typically generate many different kinds of marketing dashboard reports. These reports are used to track a variety of metrics – from content marketing performance to SEO and social media presence, etc. Here are some examples of reporting that businesses can get via a good marketing dashboard:

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1. Digital Marketing: Businesses looking to track the performance of their online marketing activities need to use digital marketing dashboards. With the help of this, they can understand real-time marketing efforts, and get a clear picture of their sales to funnel.
2. Email Marketing: Through this dashboard, businesses can gauge the performance and ROI of their email campaigns. This includes analyzing metrics like open and click rates, list growth, number of leads generated, etc.
3. Marketing Performance: Through the marketing performance dashboard, a business can understand metrics associated with the marketing funnel. This allows a business to make informed marketing decisions and allocate marketing spending more efficiently. Marketing performance dashboards help businesses assign values to each web visit or lead, giving a business a chance to make the most of their marketing campaigns.
4. Ecommerce Marketing: With an e-commerce marketing dashboard, your business can easily access important data across teams and departments. This includes data that impacts daily operations, sales, financial budgeting, decision making, etc. This dashboard helps businesses track metrics like social media and website traffic as well.
5. CMO Marketing: Chief marketing officers get an overview of a business’ marketing performance – through a CMO marketing dashboard, a business can improve lead generation, email and web performance, social media performance, etc.
6. SEO Analytics: Through the SEO dashboard, a business has access to a central repository of information that captures all data sources. This provides digital marketers with a complete picture of the business’ SEO performance, across several metrics.
7. Social Media: Helps businesses monitor social media metrics and KPIs. This is a good indicator for understanding how successful social campaigns are.
8. Web Analytics: Helps businesses understand the relationship between their social performance and website performance. With web analytics, marketers can track the performance of their website in terms of conversions, visits, views, etc.

Why Use a Marketing Dashboard?

One of the biggest reasons for companies to make use of marketing dashboards is the data and analytics that they get in return. 

Other than that, marketing dashboards are becoming popular because of the advancements they have achieved in terms of making sense of data that has been fed into them. Firstly, with the onset of machine learning and artificial intelligence on the rise, marketers are excited to make use of dashboards for arriving at reporting analyses so that they can better predict customer behavior. This can lead to an enhanced and robust customer experience, and help the brand build value. Secondly, organizations use marketing dashboards to facilitate omnichannel campaigns. 

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How do you tell if your business needs a marketing dashboard?

To eliminate and mitigate confusion and guesswork in terms of your business’ marketing strategies, it’s better to opt for a marketing dashboard that provides reporting. These reports can allow your business to undertake better and more informed analyses. They help in – 

• Measuring short-term and long-term strategies and results
• Understanding the health of your digital assets
• Addressing data gaps
• Analyzing KPIs important to your company
• Positively impact your company’s revenue cycle

Conclusion

Customized marketing dashboards offer businesses a host of benefits, including providing a stronger overview of the business and its ROI in the form of clear reports. These reports provide business owners with a consolidated view of their performance. They are used to analyze how well a business is doing, what its potential is, and where its strengths and weaknesses lie. You can find out how well your marketing investments are doing with the help of clear reports and analyses generated by a marketing dashboard. 

Build a customized marketing dashboard for your business today so you have a bird’s eye view of your operations and revenue cycle. Use reporting data and analytics to strengthen your sales and marketing efforts.