In building marketing campaigns, team leaders must harness actionable data derived from their analytics dashboard. The data used within the dashboard will be central to ongoing campaign success, determining ongoing changes and new strategies as trends evolve. If you’re in the midst of this important marketing process, you’ll need the ideal foundation as your starting point. Within this latest Velocidi post, we’ll explain more on how to create an actionable marketing analytics dashboard.
First, Ensure Clean Data
Without access to clean data within your dashboard, you won’t be able to make effective decisions based on the information available. The data included should be free of potential influences and outside biases. It should be sourced and catalogued in a way that minimizes errors and ensures streamlined information flow from the data collector to the marketing team using the data. This process begins with using the leading tools to build your data dashboard. The tools available include:
Excel is a great reporting tool in that it allows you to collect information and store it in a system familiar to most users. However, Excel doesn’t allow for optimal user experience in providing insights on the data. In addition, the complexity of using formulas and other elements of the program means Excel requires a lot of specialist effort to maintain as your dashboard grows.
- Business Intelligence Tools
Most business intelligence tools tend to be organized around reporting rather than predicting future trends. And this can mean that companies relying solely on business intelligence tools for their data dashboards aren’t able to achieve comprehensive insights into the trends within their campaigns.
- Marketing Intelligence Tools
The leading companies are now using marketing intelligence tools as a way to build their understanding on campaign data and make decisions based on the data revealed. One of the key advantages of the best marketing intelligence tools is that they’re optimized for the types of visualization and reports that marketers will use in their everyday working role. This means that marketers and their teams don’t have to spend time digging through the data. It’s there in front of them, ready to be utilized.
Another clear advantage of marketing intelligence is that the reporting process can be automated once the most valuable data sets have been determined. Rather than manually analyzing the data and then funneling the data through marketing stakeholders, teams can isolate related data at the campaign inception and then monitor the data being automatically reported to alter their campaigns based on new trends.
The Keys to Using Data Effectively
Even if you’re using the ideal marketing intelligence tools within your campaigns, you cannot reach that most important data points if you don’t have a clear understanding on how to choose the right information based on its inherent value to your business. How do you know which data points carry value and which can be discarded? It’s a question with which many marketers continue to struggle in a marketplace were data is ubiquitous and constantly being created. Let’s look at a few tips:
- Start with a specific question or business objective in mind
Before using the data, make sure that you have a specific question or objective in mind for your marketing team. For example, you could ask “How can we increase whitepaper downloads?”. The answer to this question lies in your data and using the data to find those most interested in your whitepaper topics.
- Don’t just report on data because you have it
The data you report on should be relevant to your question or objective. If you’re aiming to improve your whitepaper download numbers, for example, you wouldn’t need to report on data related to your cost-per-click. Too much data can muddy the waters and limit the value of using the most actionable data.
- Use the right framework to approach the question
When considering your objective, make sure you frame it in the right context. Look at what’s happening currently and examine why it’s happening. For example, examine your current level of whitepaper downloads. Are they up or down in recent months? Why is this trend occurring and what can you to do respond and reach your objectives?
- Identify the key factors influencing outcomes
When setting a marketing objective, it’s important to identify the key factors influencing outcomes. Is the site design influencing user decisions? Are their incentives we can use to improve results? It’s also important to understand there are sometimes factors that are outside your zone of influence. For example, a competitor action might change the outcome.
- Plot your course of action based on controllable factors
Once you’ve identified the elements over which you exert control, and highlighted the data points related to these elements, you can then plot a course of action that helps drive the organization towards its marketing goal.
Turn to Velocidi for Your Marketing Intelligence Platform
Creating the ideal marketing dashboard requires time, and investment but is well worth it over many years and multiple campaigns. The best dashboards take predictive data models and present clear patterns of performance with visual precision. They help facilitate adept decision making at every step, and thereby ensure lasting ROI. Contact us today to discover more on the topic and to request a free demo.