Each division (or department) deserves specialized dashboards that best serve its operational needs and performance monitoring. Divisional (or departmental) dashboards serve the specific needs of a division or department within an organization. Therefore, deployment of divisional dashboards requires focus and subject matter expertise from the specific department the dashboards will serve. In this issue of Dashboards 101 we will focus on identifying components of Sales and Marketing dashboards.
A marketing dashboard contains all relevant metrics required by the Marketing department. Typical marketing metrics might include current marketing campaigns, media purchase, promotional effectiveness, budget versus expenditure, Web page traffic metrics, insight into competitive landscape, pricing, cross-buying analysis, as well as industry trend summaries.
Metrics would be presented depending on the area of an individual's responsibility within marketing. The following are some of the analytics that may be included in a marketing dashboard:
- Customer Analysis
- Promotional campaign analysis
- Marketing budget versus spending
- Marketing programs by region and territory
- Web trends and click-stream analysis
- Market competitive analysis
- Product mix and cross-buying analysis
- Leads and ROI by marketing channels
- Sales and market share trends
- Promotions versus sales analysis
We will focus on identifying the Key Performance Indicators (KPIs) and discussing further in detail the following marketing specific dashboards:
If you are a marketing manager, dashboards can help identify where you need to pay the most attention to improve your marketing by measuring and improving effectiveness. Sample campaign analysis metrics include:
- Campaign costs vs. revenue increase
- Penetration by demographic
- Redemption rate
Marketing Division Scenario
In order to measure the success of a campaign reaching the target audiences in marketing and advertising campaigns many organizations will issue coupons and measure the number of coupon redemptions made. This allows an organization to track which advertising mediums lead to the greatest response from the initial investments that have been made.
Therefore, the Director of Marketing requires the monthly trend of redemption metrics. Furthermore, the dashboard must show a summary of both interactive and non-interactive marketing campaigns, which include TV, radio, trade shows, magazine advertisements, and so on.
The design of an effective dashboard in this scenario would require the application of appropriate chart types such as trend line, pie charts, regional maps, and column charts. For example, the past twelve months of redemptions are broken out by Web and Print properties are represented through a trend line chart.
Campaign Analysis Dashboard (Courtesy of iDashboards)