Marketing Dashboards – Whose Analysis is it anyway?
Advertising is a practice that involves both art and science. Various firms make use of marketing dashboards in order to, amongst other things, measure the successfulness of their campaigns. This is known as marketing performance measurement and management. It involves the creation of certain metric frameworks used to monitor the usefulness or success of a campaign. Dashboards are then created to manage their performance. They measure things like your best call tracking metrics, for example.
Why use them?
They are a very good way of displaying or analyzing performance. Here all data, information, metrics and other information are put together or collated and presented as useful information for the organization. Such organization can then use this tool to continue with their campaign.
What are they?
They can be seen as a multi-layered performance management tool. They help companies to monitor measure and manage such business activity using both financial and non-financial measures. Furthermore, a good one consists of three layers:
An executive level: This has a strategic function. This layer monitors performance against campaign goals.
An operational level: This has an advertising management use. It monitors the performance of various strategies and processes.
And lastly, a tactical level: This level deals with functions and individuals. It has an analytical role.
A good dashboard should mark or display the progress of the campaign, help assess productive areas and therefore help individuals in the decision making process. They should also provide an indication on the value of the business strategy and help align advertising with business.
Who Needs One?
They are used by a lot of professionals for the above given reasons. Professionals, marketers and advertisers all can make use of such advertising software. However, you need not have a multi-million dollar enterprise and advertising campaign to make use of such technology or software – as even smaller companies and normal individuals can make use of this type of software.
Some Examples of Them:
Marketing performance – This is designed to provide a more in-depth of the ‘conversion funnel’ (klipfolio.com). Furthermore, it helps inform in promotional decisions. It can also shed light on campaign spend or spending.
Web analytics – This lets one track the real-time performance of their website. This type can be very useful. It allows one to see if their website is effective or not.
In conclusion this type of software is used as a promotional management and analysis tool. It can be used to measure the proficiency and effectiveness of a given campaign. A good one has 3 tiers or levels: An executive level, an operational level and a tactical level. There are many different types and implementations of this type of software you can get – some look at websites and others promotions.