Digital marketing initiatives in the modern day produce a lot of data, whether from the company’s internal or external sources.
While it is challenging to quantify manually, this data is necessary for determining ROI and campaign success.
Less than one-third of businesses presently use data to make critical decisions, even though marketing spending on data analytics is anticipated to increase dramatically in the coming years.
To keep up with the competition, businesses must use more data correctly. It includes using data to analyze the performance of a marketing or sales campaign using a powerful dashboard.
With all of a business’s campaigns organized by variables like category, product, or area, the campaign performance dashboard provides you with a comprehensive picture of corporate campaign activity and outcomes.
A campaign performance dashboard makes it simple to compare the effectiveness of different campaigns by using information like inbound and outbound activities and response rates. Here, we will take you through the benefits of using a performance dashboard for your campaigns, the challenges involved in creating the right dashboard for your purpose, and how you can create the best campaign performance dashboard for your business.
What Are the Benefits of a Campaign Performance Dashboard?
You can tweak your sales or marketing approach when you have real-time access to the results of your marketing effort. Maybe you’ve just started paying for PPC, but you still need to get your money back. If this strategy doesn’t work, you should put your money to better use.
For instance, your email marketing campaign can generate the most leads even though you have only allocated a minimal budget.
Utilize this route if the data indicates that it is operating well. Increase your time and financial commitment to this strategy to expand your audience. To advance this channel, you can engage an email marketing specialist. Alternatively, you can boost the regularity of your email campaigns to ensure that customers are delivered content consistently.
Whatever course of action you choose, you should base your choices on the evidence. It serves no purpose to access this much knowledge and do nothing with it.
Campaign performance dashboards assist you in making better-informed choices that can ultimately lower the price of your sales or marketing initiatives while enhancing their revenue-generating potential. Consider the PPC campaign mentioned above; if it isn’t bringing any business, its money is down the drain.
Although a performance dashboard does offer a real-time report on your marketing or sales efforts, it does more than that. Instead, a performance dashboard is a valuable tool for making decisions that aid in creating future marketing or sales initiatives.
What Are the Challenges in Creating a Suitable Campaign Performance Dashboard?
Campaign performance dashboards should be simple to read and understand.
However, given that your sales or marketing activities likely involve a variety of media and channels, this might be challenging. For instance, you could use different platforms like Instagram, Facebook, Twitter, and LinkedIn to engage with your customers. In this case, you will need to obtain and analyze data from these social media platforms.
As a result, you must centralize all of this information before presenting it. Likewise, when it comes to tracking the effectiveness of your website, you will have to have access to both Google Search Console and Google Analytics. Remember that you must (or will) be monitoring the success of your SEO efforts using tools like Ahrefs or SEMrush.
Considering the volume of data collected using these different tools might be too much for you to handle.
The audience is the most crucial factor, but it all comes down to what you’re trying to demonstrate through your campaign performance dashboard. It would be best to establish your goals from the outset because some people will find this data more valuable than others.
The Steps for Creating the Best Campaign Performance Dashboard
You will have to utilize different key indicators depending on your campaign and tweak KPIs based on the resources you employ. These KPIs will be straightforward, but your reports will measure various variables depending on the marketing or sales methods you are currently utilizing.
Every month, new tools are developed, which presents obstacles to integrating them and their performance statistics with the rest of your sales or marketing solutions. In light of this, the following are the X steps for creating an efficient or the best campaign performance dashboard.
1. Establish Your Audience
First and first, you must understand for whom the dashboard is being created.
The dashboard should be created to tell a narrative that connects to the viewer-relevant, actionable KPIs. Since different audiences will monitor different KPIs, you must obtain the appropriate data set. Otherwise, your target audience will be staring at many irrelevant statistics to them or what they want to see.
2. Set Key Objectives
Establishing the goals for each of your dashboards is crucial because different performance dashboards might convey a different story. Establish the short-and long-term goals of your stakeholders and create several data views at various granularities. An executive may wish to look at a high-level dashboard that displays the expenditure and overall investment return.
On the other hand, an analyst needs a thorough understanding of the facts to make tactical choices. When developing campaign performance dashboards for your stakeholders, it’s essential to remember to present a compelling tale that offers a course of action. Data visualization is done for more than aesthetic purposes. The objective is to comprehend your data better.
3. Determine Sources of Data
Owners of businesses and marketing teams can generally manage all aspects of their marketing, including their social media, website, calls, and email campaigns. Since each platform has its own set of measures and data, combining them all into a single platform is necessary.
If they only need an overview, the viewer can quickly assess the effectiveness of marketing or sales initiatives without having to sift through three or four distinct places.
While compiling all of this data into a single campaign performance dashboard is crucial, be careful not to over-inform your target audience. As we mentioned before, the entire purpose of developing this dashboard was to give consumers clear, understandable information.
4. Determine KPIs
Before creating your dashboard, you must decide which indicators are crucial for your campaign. Although many digital tools are available today, as we previously stated, only some data are relevant for some types of marketing.
Metrics could include click-through rates, dwell times, traffic volume, bounce rates, impression counts, page views, user counts, pages per session, and more. Once you’ve determined your KPIs, you can start giving your team and top management insightful information.
5. Data Visualization
Analytics technologies can provide you with access to enormous amounts of data, so your dashboard must deliver the proper message. Make sure that creating and consuming data is simple for everyone on your team to promote data exploration and analysis.
6. Integrate Your Data
Because there is so much activity in marketing, sales and marketing teams employ various platforms, each with its own set of metrics, to assess their campaign performance.
Therefore, you must combine these many data sources in one location. An integrated campaign performance dashboard should offer a centralized presentation to avoid requiring users to access several channels.
A good campaign performance dashboard is uncomplicated, informative, and straightforward to read and use. The most crucial part is ensuring the content is beneficial for your viewers, whether you utilize text, images, or a mixture of both.
ClicData can help you create a campaign performance dashboard that allows your users to track and measure the performance of your sales or marketing campaigns to ensure the best experience for customers and the greatest return on investment for your business. You can learn more by getting in touch today.