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Domo whitepaper how_to_create_an_effective_marketing_dashboard

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How To Create An Effective Marketing Dashboard

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Domo whitepaper how_to_create_an_effective_marketing_dashboard

  1. 1. How To CreateAn EffectiveMarketingDashboardWHITEPAPER
  2. 2. Traditionally, marketers have been thought of as creatives and “ideaspeople,” rather than statisticians and scientists. But in today’s world ofROI calculators, there’s little room for soft sciences and fuzzy numbers.As a result, marketing has reinvented itself as a fascinating hybrid ofright and left-brain activities. Remember that gorgeous campaign cham-pioned by your graphic designer? Now, you have the means to evaluateit by something other than artistic merit. The mountains of data at yourfingertips enable you to optimize and enhance your initiatives in waysnever before possible.But with all this new information cascading onto marketers’ comput-ers, the biggest challenge is figuring out how to consume the data andtranslate it into better decision-making. How is this accomplished? Theanswer for an ever-increasing number of successful professionals is aneffective marketing dashboard.There are four steps you should follow if you want a dashboard that willconvey the information needed to make better marketing decisions.How To Create An Effective Marketing Dashboard www.domo.com 1.800.899.1000
  3. 3. Step 1: Know What You Want toMeasureAdmittedly, every marketing department valuesdifferent data, making it impossible to list auniversal data set that will fit the needs of everyuser. What’s important is to define what datayou will need before you start developing anddeploying your dashboard. Examples of datapoints you may want to measure: Cost per lead bysource, unique Google search terms that result inwebsite visits and email campaign open rates. Ifyou don’t have whatyou want to measuremapped out aheadof time, you’ll findyourself wanderingin the wildernesswithout a compass,and the chances of youreaching your desireddestination won’t be very good.Step 2: Make Sure You’re Collectingthe Right DataAt Domo, we always ask our clients the samequestion, “What is the most important decisionyou or your CXO makes on a regular basis?”When this question is adequately answered, wefollow with a second question, “What sources ofdata might be used to reach that decision?” Onoccasion we’ll encounter clients that want to knowsomething critical like “cost per lead,” only to findthat their CRM system hasn’t been configuredto capture a key component of that metric. Forthat reason, it’s best practice to answer the twoaforementioned questions thoroughly beforeembarking on any dashboard project.Step 3: Choose the Right DashboardTechnologyHere are three tips:1. Choose a solution that allows you toconsolidate all your existing data sources. Manydashboards only capture data from a finite or fixednumber of sources. One popular dashboard service,for example, shows lots of great social mediadata—but only draws from three predeterminedsources. What if you want to see how your socialsentiment is impacting your web traffic?2. Choose a solution that enables you to addnew data sources quickly and without significantcost. Any time you have to code data sourceconnections and design dashboards to match,you’re introducing significant costs to a dashboardproject. Instead of coding and designing yourown dashboard, look for a solution that is nimbleenough to connect to your data sources on the fly.3. Choose a solution that lets you combine datafrom different sources into a single chart or graph.Seeing disparate CRM and Marketing Automationdata in the same dashboard is great. But seeingdisparate CRM and Marketing Automation data inthe same graph is borderline magical. The beautyof combined data sources is that they can helpyou consume trends and relational informationexponentially faster than you could in otherformats.Step 4: Share the Love ThroughData DemocracyMake sure the right people have access to the datathey need. Think marketing data is only importantto the marketing department? Think again. Inevery organization improved transparency andinformation flow can help the collective makeHow To Create An Effective Marketing Dashboard www.domo.com 1.800.899.1000
  4. 4. How To Create An Effective Marketing Dashboard www.domo.com 1.800.899.1000better decisions. To that end, consider howscalable your dashboard can be. Is it easy to shareyour data throughout the company? Does it haverole-based permissions? Can it really provide“one single version of the truth” for all interestedparties? Few dashboards have these valuableattributes; be sure that yours does.In ConclusionIf you’re like most marketers, it’s important foryou to tie all your efforts back to revenue. Whatwe’ve found, however, is that marketers spend fartoo much time digging though data and buildingreports to justify their initiatives. This problemis compounded by the wealth of opportunitiesthat marketers miss while they’re consumedwith administrative tasks. By choosing the rightdashboard, marketers are free to move at thespeed of business, armed with the insights theyneed to truly become successful.If you’re ready to see all your marketing data inone place, in real-time, on any device—give Domoa call. Our executive management platform willtransform the way you manage business.