Today we are going to learn how a digital marketing dashboard is the ideal tool for your teams to be clear about their performance.
The most difficult step in creating a balanced scorecard is getting started. Fortunately, taking the first step doesn’t have to be difficult or time-consuming. In fact, it’s as easy as starting with some essential metrics that we will share with you here.
Let’s start with the basics…
What is a digital marketing dashboard?
A digital marketing dashboard is one that examines the correlation between the performance of this area of your business and having an overall context of your campaigns.
We know how important it is to have control of your marketing data, so a dashboard will help you boost your efforts, as it allows you to have an interactive, real-time view of your marketing funnel, track of your potential clients with respect to daily and monthly objectives to achieve your objectives, you can also better understand the demographic conversion rates for decision making
By monitoring your marketing metrics in a dashboard you will have a deeper understanding of your team’s efforts and capabilities.
What to include in a digital marketing dashboard?
Marketing teams need KPIs to measure their results. Each KPI needs 3 things:
- a measurable metric or data point
- An objective
- a timeline
With this in mind, let’s take a look at the main digital marketing metrics and KPIs that should be tracked every day:
Your digital marketing scorecard should examine the data and marketing metrics most important to you and your team. The dashboard is not designed to be a comprehensive and in-depth view. It is designed to be a proof of concept of what can be achieved with a data dashboard: gaining visibility into key marketing performance metrics.
Now, let’s take a look at the top 8 digital marketing metrics you can include in your digital marketing scorecard.
1. Google Analytics
Google Analytics is an essential tool for understanding how people come to your website and their experience and behavior. There are a few key Google Analytics metrics that every digital marketer should include in their digital marketing scorecard.
- Web user metrics
- Website users
Users, also called website visitors, count new and returning visitors to your site, which you can segment by source. This will help you understand the amount of new traffic versus recurring traffic your site is generating and where users are coming from. Add web users to your digital marketing dashboard.
2. Goal Completion Metric
Goal completions count an action, which can range from destination or duration goals, to event goals, including completing a form, starting a trial, or making a purchase. Add goal completions to your marketing dashboard.
3. Goal conversion rate
Goal conversion rate is the percentage of sessions that led to the completion of a goal. Tracking your goal conversion rate measures the effectiveness of your calls to action (CTA).
You can track goal conversion rate in Google Analytics or Google Ads and you can segment by channel, medium, or user type. Add goal conversion rate to your digital marketing scorecard.
Marketing automation tools like HubSpot give digital marketers the ability to fine-tune online campaigns like never before.
5. New Contacts Metric
Contacts are the individual people with whom your business has a relationship. In a CRM like HubSpot, contacts can be qualified opportunities, existing customers, or former customers.
Contacts are captured through your marketing efforts, such as email or social media, or a form on your website. The advantage of adding contacts to your marketing dashboard is that you can add comparison value and track your growth over a period of time. Add contacts to your dashboard.
6. Marketing Qualified Leads (MQLs)
Qualified leads are the number of potential customers that go to sales. Digital marketing teams track these leads to understand the alignment between sales and marketing, and understand the effectiveness of demand generation efforts in attracting potential customers.
You can also add a comparison period to this metric so you can identify trends. Add marketing leads to your digital marketing scorecard.
7. Google Ads
Google Ads allows you to monitor the performance of your advertising campaigns in almost real time. This means you can track your advertising costs and keep an eye on their performance.
Cost per action
Cost per action measures the amount of money spent that leads to that goal conversion. Use this metric as a performance indicator to understand how effective your campaign is at converting leads. Add cost per action to your digital marketing scorecard.
- Return on advertising investment
Measuring the return on advertising investment helps you track the total revenue generated by each peso spent on advertising in the form of a percentage or monetary value.
This metric will give you an idea of the performance of your campaigns that are providing the highest return or where you may need to reallocate budget or optimize content.
8. Social networks
A digital marketing dashboard would not be complete without social media. Add your different social media KPIs to get an overview of your performance across all marketing channels.
Monitor the number of followers you have on your social media channels such as Facebook, Instagram, LinkedIn, Twitter and YouTube. If your follower growth is increasing, it means you are successfully building an audience and community around your brand.
How to create a digital marketing dashboard
These metrics are just the beginning of what you can add to your digital marketing scorecard. Get inspired by more dashboard examples and start tracking your metrics.
The most effective way to manage marketing performance is to establish clear associations between data points. This allows you to see the many moving parts at once while leading your team toward the bigger goal.