Volume 6, Issue 7 - July, 2016
Keith Levine, Associate Client Partner, Visual IQ
Marketing and analytics professionals are tasked with measuring and optimizing media performance. Yet, according to a recent Forrester Research report, as many as 97% still use basic reporting to produce analysis and measurement outcomes. The proliferation of available data and the demand for deeper, more complex analysis is driving marketers to invest in more advanced measurement platforms that not only deliver accurate cross-channel, cross-device measurement, but also provide media spend recommendations and the ability to activate those recommendations in real time. These solutions all offer dashboards to help marketers visualize performance, but not all are created equal. Before selecting an attribution solution, make sure it has these three integral dashboards and reporting capabilities:
1) Executive Dashboard
The executive dashboard should provide a centralized and timely bird’s-eye view into your entire marketing portfolio’s performance. While many marketing and analytics professionals are happy to dive head first into the minutia of the data, most executives are looking for high-level, fast and easy-to-read visualizations. The performance snapshots featured on the executive dashboard should highlight progress against goals and objectives (current vs. past performance); bubble-up opportunities for improvement (efficient vs. inefficient performers); and provoke questions (what? vs. why? vs. how?). In addition to reporting results, the executive dashboard should also provide insights, opportunities and media optimization recommendations that drive action. Functionality to look for includes the ability to drill-down for deeper analysis, filter on relevant marketing dimensions, update goals and objectives on the fly, and download/share the results, insights and optimizations with others in your organization.
2) Campaign Dashboard
This dashboard should focus specifically on the campaigns in your portfolio. Top campaign dashboards should provide the ability to monitor performance and progress against set goals, the ability to set, upload and update goals with easy-to-use templates, and the relevant metrics, filters and expanded details that allow for deeper, more robust analysis of campaign performance.
3) Channel-Specific Dashboards
Individual marketing channels, such as online display and paid search, are managed, bought and optimized differently. As such, it’s beneficial to find a platform that offers channel-specific dashboards with unified views into all aspects of individual channel performance and opportunities for optimization. Make sure that these dashboards present the relevant metrics and levers that will allow you to analyze and action on the data properly. For instance, share of voice (SOV), average position and current bid are good examples of relevant paid search metrics. You should also look for channel-specific dashboards that feature the ability to build custom portfolios, or logical groupings of your marketing, as these will help you manage and generate real-time optimization recommendations based on your specific goals and targets.
While many marketing and analytics professionals continue to gravitate towards spreadsheets and pivot tables, others are looking for advanced visualization tools that help cut through the monotony. When looking for an attribution solution, make sure that the dashboards it offers not only meet the needs of your organization, but also provide the necessary features and functionality for driving optimization
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