Introduction:

What is a digital marketing dashboard? A marketing performance dashboard aims to provide a detailed view of how an organization is performing at the moment. You can consolidate data from several digital marketing channels into one platform using a digital marketing dashboard. It’s like all the required data is in one place.

Setting up the Digital marketing dashboard only takes 20% of the time. However, 80% of the time is spent on refining and displaying the necessary metrics that give the whole picture a uniform appearance.

As a data analyst, you must be able to mix and connect outcomes from numerous platforms social media and website analytics to show your stakeholders what matches their goals.

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How does a marketing dashboard help businesses?

In this day and age, we all know how important it is to keep track of your marketing campaigns and related data and dashboards are the best way to do that. If you use social media or Google analytics you must have seen their dashboards. They’re also an example of a marketing dashboard but here we’re talking about a business’s personal and customized dashboard. When you already have these individual marketing dashboards why should you go for a personal one?

Let me explain. Dashboards for marketing are simple to set up, maintain, and use. They are also mobile, making corporate intelligence available for usage across borders, on the go, or for business travel. They put together all the important marketing metrics from these different dashboards and platforms in one place. So you don’t have to look here and there.

You may raise customer happiness, retention, and loyalty rates through marketing dashboards and the insights they offer about client purchase behaviors and trends. For example, if a particular sale price isn’t generating enough sales, a business might utilize the data to determine the ideal pricing that encourages customers to purchase.

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How should be the structure of a Digital Marketing Dashboard?

If you want to increase sales and revenue for your company, it is crucial to measure the performance of your efforts. Your marketing dashboard should be simple to read and comprehend, whether for your staff or board members.

Most digital marketing dashboards present your data in a full-screen, landscape format. Due to the additional screen area available for their presentation, the widgets on the dashboard are slightly larger than they appear on the reports. Here are some essential factors to consider while selecting an efficient digital marketing dashboard.

1.    Auto update:

An auto-update will download the most recent data from your linked sources according to a specified frequency. As the various platforms do, it is always important in digital marketing to maintain your data up to date and to show real-time values.

2.    Data Visualization:

How effectively the user understands the data will depend on how it is displayed in a digital marketing dashboard. A dashboard may be made more understandable and aesthetically appealing for the user by selecting the appropriate graph to represent certain data.

3.    Combining data widgets:

You may aggregate several metrics from many integrations into one widget by blending data widgets to achieve an overall performance. Using a blended data widget, you may represent collective data in the dashboard.

4.    Information:

Select the appropriate information for your marketing dashboard. To get a bird’s eye perspective of the marketing performance of your clients, establish a dashboard for just one channel or mix data from other sources, such as paid and SEO channels.

Alt-text: Digital marketing dashboard

5 Metrics to add to a digital marketing dashboard:

What metrics should you add to a digital marketing dashboard?

This is a very subjective question. We need to add those metrics which our stakeholders want to track and are essential for them. Do you see why this is subjective? Goals can vary from company to company. You’ll have to sit with your stakeholders and understand their goals and objectives. Find out what metrics are important to them that align with their goals.

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Here is a general list of metrics that usually are essential for all digital marketing dashboards. However, don’t take this as a guide that you must follow. Maybe you don’t need to add one or two of these metrics depending on your company’s goals.

1.    ROI:

ROI (return on investment) enables you to determine your income relative to the cost of your ongoing digital marketing initiatives. This past year, 63% of firms boosted their budgets for digital marketing. You can identify the techniques that produce the best outcomes for your company by monitoring your ROI.

2.    KPIs:

KPIs related to a marketing goal should definitely be on a digital marketing dashboard.

KPIs (key performance indicators) help you track your main target or objective. They indicate how well you’re performing in achieving a certain task.

Now, these KPIs can vastly vary for various objectives and from organization to organization. As a data analyst, you’ll have to discuss this with your stakeholders and understand their goals to know the right KPIs to put in the dashboard.

3.    Conversion rate:

More than 20% of companies claim that the quantity of leads produced is the main criterion on which they base the effectiveness of their marketing platforms. The conversion rate reveals the number of site visitors that make a purchase, subscribe to your email list or download a free guide. In short, they take the action that you want them to take.

You must include your conversion rate in your digital marketing dashboard to monitor how effectively your methods generate conversions for your company.

4.    Bounce rate:

The bounce rate is the ratio of visitors to your website who click the back button or exit the page without viewing or interacting with any additional pages. You may find any issues with your website by monitoring your bounce rate. You may thus improve these pages to keep website visitors interested and on your site longer.

5.    Ad analytics:

If the company is running Google or social media ads they would definitely need ad analytics to monitor their campaign. Metrics like how much they’ve spent, how many impressions they got and how many leads they generated are important ad metrics that should be on a marketing dashboard.

6 Benefits of using a digital marketing dashboard:

With the help of a digital marketing dashboard, you may choose facts that are important to each company’s choice and help make decisions that are well-informed and well-reasoned. Besides, a digital marketing dashboard has the following benefits:

1.    Know what’s working and what’s not:

A marketing dashboard saves you time and effort by telling you which strategies are working and which aren’t. You can double up on what’s working and stop spending resources on what isn’t. This is done by tracking various metrics like sales, impressions, bounce rate, ROI and many more depending on your goals.

2.    Customizable:

As businesses and organizations grow their requirements change. They need different metrics to track. You can always adjust the dashboard according to your stakeholder’s requirements.

A strong marketing dashboard will enable you to interact with massive data sets and add new marketing indicators. Have your stakeholder’s KPIs changed? No worries you can add the new metrics and remove the previous ones.

3.    Keep up with cybersecurity:

The entire cost of cyberattacks in 2022 was $6 trillion. Damage from cybercrime has reached $2 trillion to date. So Data leaking is a major issue today. With a personal dashboard, a company can encrypt the data in whatever way they want. This gives them the required security and makes sure that the data is secure and no one can steal it.

4.    You deserve to be ranked high:

Now the search engine rankings are harder to maintain than ever. You and your squad must be quick and versatile to move up the rankings or hold onto your place. Many marketers fall behind if they don’t keep up with the constant changes made by search engines. You may quickly modify your plan by using a digital marketing dashboard to keep these variations and modifications in the front of your thoughts.

5.    Stay current, stay informed:

Every second of your marketing campaign matters. In 2020, digital advertising was valued at $350 billion, and by 2026, it is expected to grow to $786.2 billion. A good marketing dashboard gives users access to current information.

Making informed decisions about how to invest your marketing budget at best is made possible by the dashboard, which allows you to track your campaigns and other digital marketing initiatives in real-time. There is no point in showing outdated data and a marketing dashboard gives you real-time information about what’s happening. 

6.    Helps manage the inventory:

Marketing dashboards make it easier to manage inventory since you can keep track of stock in real-time and know which goods and locations are selling the most of it. You may lower the likelihood of running out of stock by allocating your supply and resources more efficiently across different places.

Frequently asked questions:

1.    How is a digital marketing dashboard better than manual reporting?

Traditional reporting solutions don’t necessarily prioritize usability. In the marketing dashboard, you have all the required information in one place and you don’t even need anyone to understand it. This isn’t the case with manual reporting. Moreover, it can’t show you the real-time metrics like a dashboard.

2.    Is it worth investing in a digital marketing dashboard?

Yes, the benefits of a digital marketing dashboard will pay more than the cost of developing it and your website. It’s like a lifetime investment.

3.    Does the marketing dashboard save effort and time?

Yes, a digital marketing dashboard saves you time, effort and money as well. By using marketing dashboards, companies can combine multiple data streams into a single display, highlighting the most important indicators for each action. You don’t have to look here and there to see different metrics the data visualization helps you understand the information at a glance.

In a nutshell:

Information overload can be an issue because of the abundance of data sources and the degree of detail provided. To keep a clear picture of a company’s marketing initiatives effectiveness, today’s marketers require assistance.

Dashboards for digital marketing are a practical answer to this problem. The benefits of a marketing dashboard are as follows:

• Spend less time switching between resources and platforms to locate your needed information.
• Real-time access to all your measurements allows you to stay on top of any slippage before they become an issue.
• Gathering everything in one location allows you to compare your data to your rivals more easily.
• You and your workers should use fewer logins to save time.
• Determine which campaigns are beneficial right away, stop the ones that aren’t, and save time and money.
• Instead of a reactive strategy for marketing, choose a proactive one.
• You may engage all stakeholders in your marketing initiatives by using data that is simple to grasp.
• Pull reports quickly, and view as much or as little data as you like to be shared at board meetings and investor conferences.

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