Hi, I am Nico and I just started a new job at Adverity as Content Manager.
On my onboarding week we had the chance to ask questions during a Q&A session. So I asked,: “Alex, what was the number 1 challenge you had to face when working with data?”
“The time it took to manually collect and sort through the data, had become more of a frustration than an asset.”
Being a marketer myself, I could only relate. And after discussing this for a while, we both agreed that although there are a lot of struggles dealing with data-driven marketing, it has worked wonders for us and our campaigns have since been flourishing year-after-year. Alex regularly used data in tough discussions to help convince his fellow co-founders on important actions they should take.
The solution to his struggle? He discovered a way to automate the process with marketing dashboards.
I’ve outlined below six points he shared with me to explain how marketing dashboards can make the life of a marketer so much easier (and also boost a company’s ROI).
1- Real-time visibility of important data
Fact: Dashboards will automatically connect the dots and collect all the essential data you need in one place for you.
Traditionally, one of the biggest struggles faced by digital marketers is having to manually copy and paste data from advertisement platforms into spreadsheets. With a marketing dashboard, this is no longer necessary as data will be automatically extracted, organized and ready for real-time monitoring.
2- Collecting all data in 1 place
In today’s digital world, there are around 7,000 different marketing tools, that all deliver their own data and information.
The shocking truth is that only 8% of companies store all their data in one place. The other 92% have it all over various platforms, teams, tools, departments etc. – making it nearly impossible to keep a clear overview.
As a consequence, the data used by each team will not be aligned and may result in different datasets being analyzed – even when assessing the same campaign. The result of this is that it’s no longer possible to provide a clear and coherent overview of the campaign’s performance.
Luckily, a dashboard can save the day! Not only can it take care of the data harmonization, but it will also allow everyone involved to analyze the same information in real-time. This will lead to a much better campaign performance.
3- Improving Productivity
Imagine the increase in productivity, when you can skip spending time preparing and compiling numbers in a spreadsheet and instead focus only on analyzing it. I’ll give you a hint… you’ll get work done much faster.
But that’s not all! Decision making is improved, campaigns perform better and launch much faster too.
4- Optimizing Organization-wide Reporting
Being a marketer, I know that the main struggles when working with data are:
- Endless hours spent creating tedious reports for different associates.
- Wasted energy and sanity trying to explain the data – just to prove their impact on the company goals.
Fortunately, these can now be overcome by using data-driven marketing dashboards. My three favorite advantages are as follows:
- An automated custom dashboard that can be used for each department you report to. Trust me; this speeds up the process and significantly improves the quality of your reporting.
- The dashboard can be set to include only the most appropriate data for the person you’re presenting it to. This also makes it easier for that person to understand how the impact of that campaign translates into results.
- My boss stopped stressing me and was much happier because my report got shared automatically on a weekly basis. This did not only calm my nerves but also enabled me to focus my time on optimizing my campaigns.
In my opinion, one of the biggest advantages of using dashboards is the ability to react to the data in real-time. This gives so much flexibility to improve your campaigns on the fly as they evolve.
For example: Take an online advertising campaign. Real-time data would allow you to spot best-performing ads immediately. Analyzing them further could reveal why they engaged the audience so much. And that information, in turn, will help you adjust other adverts to deliver similar results.
6- In-depth Insights
Dashboards let you correlate data, without having to be an Excel pro.
Imagine a sports store needed to figure out when people started buying summer sports equipment in order to know when the best time would be to schedule advertisements for.
We matched the two data sources that usually wouldn’t go together:
- The weather data.
- The company’s sales data.
After correlating these two data sets, we instantly uncovered insights that could help solve the company’s problem. Without a dashboard, this would have taken endless time, nerves and manual work.