Manage my business Marketing Dashboard

Manage my business | Marketing Dashboard

Marketing Dashboard: What is the profit opportunity? What are the competitive risks to achieving it? What is our value proposition? How do we reach and communicate value to customers? Now get the answer

CONTEXT & CHALLENGES

Marketing involves promoting your product while fully meeting a variety of requirements: from the company in terms of margins, from customers in terms of product quality and image, and from company employees in terms of satisfaction, pride, and remuneration. The following types of questions are therefore raised in marketing departments: what are the opportunities for profit? What are the competitive risks involved in achieving profit? What is the value proposition? How to communicate this value to customers?

The challenge therefore is to define a strategy that is both customer-oriented and aligned with the company’s general strategy. Measuring the effectiveness of marketing campaigns, managing your budget, monitoring brand effectiveness and image, analyzing use of marketing tools (websites, networks, etc.): these are some of the key indicators involved in any marketing strategy.

The difficulty lies more in the volume of information processed, the ability of people to process information, and the required quality for optimal data use. This is why it is important to continually monitor and challenge your selected indicators with a marketing dashboard.

MARKETING GOALS AND OBJECTIVES

Demand Analysis

  • Run qualitative & quantitative marketing researches
  • Analyze & understand potential customers preferences & expectations
  • Define target markets and market segments
  • Perform economics & competitive market analysis

Product & Service development

  • Conceptualize the right product or service the customers would acquire
  • Jointly with R&D deparment, develop the product / service

Demand Creation

  • Improve product awareness by reviving or invigorating interest
  • Campaign Management and Targeting
  • Multi-channel marketing – Select channels through which to promote the product
  • Define customized marketing campaigns by customer segment
  • Run & optimize campaigns

Product & Service Distribution

  • Develop distribution strategy
  • Organize sales channels

Customer Management

  • Increase customer lifetime value
  • Monitor and nurture customer satisfaction
  • Define / Analyze customer segmentation
  • Develop customer loyalty & advocacy
  • Facilitate the acquisition of new customers

Brand Management

  • Maintain, improve & uphold products & services image
  • Increase the perceived value of a product line or brand over time

SOLUTIONS

With the aims of reducing costs, optimizing campaigns, reducing stress in the marketing management team and meeting customer expectations as far as possible, the fully customizable marketing dashboard enables the following:

  • Provide a full view of marketing operations and performance

  • Improve communication and transparency by providing answers about the status of all projects,branding efforts, lead nurturing programs, and social influence

  • Identify market trends before they emerge and improve marketing strategies by understanding consumer behavioral patterns and how consumer react to compaigns and is influenced by environment

  • Adapt and improve marketing campaigns and marketing strategies to more effectively reach the consumer

  • Assist the marketing team in correctly gaging the keys to a successful campaign by measuring pertinent KPIs

  • Determine the most efficient marketing channel through comparison

  • Discover more about target profiles, who will buy the product or service, and who has already bought it

  • Determine where to find buyers (Facebook, Twitter, etc.)

  • Measure relevant KPIs to help marketers correctly gauge the success of key campaigns

  • Compare marketing channels and determine which is most effective

  • Find out more about your target market

MARKETING KPIS

Key Performance Indicators are used to measure the realized progress towards a strategic objective.
For a Marketing dashboard, here is a sample list of KPIs Lintao recommends (non exhaustive list):

  • Market Growth (€)

  • Market Profit (€)

  • Market Unit Volume (#)

  • Market Growth Rate (%)

  • Market Revenue (€)

  • Competitor Growth (%)

  • Competitor Price Change (%)

  • Competitor Share (%)

  • New Product Growth (%)

  • New Product Sales

  • New Competitor Sales (€)

  • New Competitor Share (%)

  • Price (€)

  • Price Change (%)

  • Qualified Leads (#)

  • Marketing Spend (€)

  • Conversion Ratio (%)

  • Incremental sales

  • # Lost to competitors

  • # Direct communications to customers per year

  • # Customer claims

  • # of customer do not buy our good again

  • Average lag time between customer purchases

  • … or your own Marketing KPIs

MARKETING ANALYTICAL AXES

The axes of analysis represent the elements by which you want to segment your observable information (such a KPIs) to understand the rationales behind a given performance. Also called ‘dimensions’.
For a Marketing dashboard, Lintao identifies the following axes of analysis (non exhaustive list):

  • Time

  • Market

  • Competitor

  • Segment

  • Product

  • Brand

  • Marketing Campaign

  • Channel

  • … or your own Marketing analysis axes

GET AN IMPACTFUL MARKETING DASHBOARD ON YOUR BI TECHNOLOGY

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