In The CMO Survey 2021, 59% of marketers revealed that they feel intense pressure from CEOs to prove the impact of their marketing efforts.
Another survey points out that marketers constantly hustle to prove the financial impact of their campaigns.
Simply put, marketers need platforms that can effortlessly crunch volumes of data that -
- Is presented convincingly to the board and C-suite executives
- Offers actionable insights that drive business decisions impacting revenue
This is where an effective marketing dashboard comes into play. These dashboards help marketers identify and analyze insights needed to boost conversions, achieve revenue goals, scaling marketing activities. Further, they can easily quantify the impact of marketing on revenue.
In this article, we'll explore the top factors marketers should consider when choosing marketing dashboard software.
First, let's understand how marketing dashboards foster accurate decision-making.
How Does Marketing Dashboard Software Foster Accurate Decision-Making?
The right marketing dashboard software allows SaaS marketers to collect real-time customer and marketing insights. Leveraging these insights can foster strategic decision-making because marketers can -
- Assess past and ongoing SaaS marketing activities.
- Create marketing campaigns that are most relevant to the target market.
- Analyze data and ask for appropriate marketing budgets from the C-suite.
- Deliver high-quality SaaS content and prove its impact on the audience.
- Present the monetary value of marketing conversion and how it aligns with the organization's financial goals.
No wonder, in a Gartner report, 32% of CMOs consider marketing analytics as the most crucial capability for building powerful marketing strategies.
Let's understand in detail how marketing dashboard software simplifies marketers' hassles.
#1: Offers Improved Visibility
State-of-the-art marketing dashboards allow marketers to tailor visibility and share insights with everyone in the organization.
They can customize dashboard views for the C-suite with campaign summaries to provide an overview of the ongoing marketing activities. On the other hand, marketers can provide the entire team access to detailed customer insights and trends.
Here's an example.
#2: Ensured High Productivity
With increased visibility into everyday marketing activities, the marketing team can understand and analyze pivotal data points. This can help them build data-driven strategies and deliver peak performance.
Here's an example addressing "how" a dashboard boosts productivity across the SaaS marketing team.
In short, a marketing dashboard simplifies the hassles of the entire marketing team and helps them stay productive. They can visualize the key data and make informed decisions without requiring guidance from the seniors.
#3: The Automation Features Save Time
Marketing dashboards are powered by automation. Hence, they can automate tasks, such as -
- Data Collection: They stitch and crunch data from multiple sources, such as Google Analytics, Facebook Insights, and other channels and get it to a central platform.
- Data Normalization and Updating: It reorganizes data within your database so the audience/users can utilize it for further queries and analysis.
- Data Monitoring and Analyzing: It monitors customer behavior, trends, and more and offers unique recommendations or next-best actions (NBAs) in no time.
- Pattern Detection: It highlights crucial data derived from multiple channels to identify trends and patterns related to customers' interests, behaviors, demographics, and more.
- Scheduled Dashboard Reports to Email/Communication Tool: It sends scheduled reports of dashboards to email and communication tools to help marketers in collaborative analysis and data-driven decision-making.
Thus, marketers can save a lot of time consumed in performing these tasks manually.
How to Choose the Right Marketing Dashboard Software for Your SaaS Business Goals?
Selecting a marketing dashboard software for a SaaS company is not a one-size-fits-all approach. Marketers should incorporate different variations to meet the needs of the stakeholders.
For instance, top-level seniors need a snapshot to analyze the impact of SaaS marketing activities on key business goals. They may not dig deeper into the granular insights.
On the other hand, marketing managers need complete data to track crucial KPIs and help the team create effective strategies.
The perfect marketing dashboard software for your business will possess the following features.
#1: It Is Easy to Use
The marketing dashboard tool will be used by marketing team members, senior management executives, and sometimes other departments.
The vital point to understand here is that not every team member is tech-savvy.
So, ensure that the marketing dashboard software is easy to use. The ease of use will determine its adoption success.
Here are a few crucial questions to consider to decide its usability.
- Who will use this marketing dashboard tool?
- How tech-savvy are the team members that will use it?
- How often do they need to use the dashboard?
- Do the insights and data need to be stitched from multiple sources?
- What efforts are required to deploy the platform and run it smoothly?
The answer to these questions can help the decision-making process.
#2: It Helps Track the KPIs That Matter the Most
Selecting the best marketing dashboard software is about more than what appears on the surface.
Besides the ease of use, the dashboard should be effective enough to track crucial SaaS marketing KPIs that matter to its audience.
For instance, a chief financial officer (CFO) would be interested in KPIs, such as monthly recurring revenue (MRR), customer acquisition cost (CAC), customer lifetime value (CLTV), and more.
Your dashboard should offer customizations that offer a clear view of these metrics, enabling the CFO (audience) to see the value of marketing and make decisions in their favor.
This capability can help marketers leverage the tool to its maximum potential and prove the impact of marketing on SaaS revenue.
So, ensure that the dashboard you choose offers tailored insights in one place based on the audience's requirements.
#3: It Can Be Integrated with Other Platforms
The marketing dashboard should integrate with various interactive platforms.
For instance, it should allow integration with Google Ads to visualize paid ads performance, Google Analytics to uncover website insights, and more.
This can help create customized dashboard views and reports without hassles.
For instance, the platform should easily integrate with the common tools shared below.
A. Google Data Studio: This free-of-cost data visualization tool helps turn raw data into easy-to-digest reports. Through pre-built connectors, marketers can sync the data sources into a single, centralized platform, like Google Ads, Google Analytics, or a third party.
Drag and drop visuals, edit content formats, choose brand colors and logos, and add report filters for exclusive personalized reports.
Grant editing, view-only, or commenting access based on the team member's role.
B. Tableau: It is paid intuitive data visualization tool that uses drag-and-drop functions to create slick dashboards incorporating an array of data.
Tableau offers comprehensive overviews for senior management, while managers can delve deeper with granular access to marketing trends and insights.
Several teams, including marketing, sales, and IT, can use the insights to build great customer experiences.
Set Everything on Autopilot with Revlitix Marketing Dashboard!
Most marketing dashboard software tools require consistent inputs from marketers. Marketers need to rigorously check upcoming trends and track marketing campaign performance to revise/reinvent strategies.
That’s a lot on their plate!
This entire analysis process can be set on autopilot with Revlitix, the all-in-one revenue marketing platform that’s powered by advanced analytics.
Built and vetted by experts with over 15 years of experience, Revlitix is the only dashboard you will ever need.
Revlitix offers -
- Over 100+ pre-designed, drag-and-drop dashboards with a 30-second set-up (Not kidding!) This allows you to leverage designs directly instead of creating them from scratch.
- Quick integration with all Martech platforms - Google Ads, Bing Ads, Salesforce, Google Search Console, Google Analytics, Hubspot, Linkedin, etc. This can help you plan, execute, and measure campaign results while improving their effectiveness.
- No-code, easy-to-use capabilities - you don't have to write a single line of code. The drag-and-drop elements empower users, especially non-tech-savvy professionals, to build the dashboard without hassles.
- KPIs tracking capabilities that matter the most, including customer acquisition cost (CAC), customer lifetime value (CLTV), etc. You can choose the KPIs according to the stakeholder's requirements.
- PLUS - All this is achieved within minutes, saving a lot of time and money, usually wasted in building dashboards that no one wants to see.
The best part?
With Revlitix's advanced marketing analytics algorithm (that leverages predictive and prescriptive analysis methods), you can unearth actionable insights from volumes of data across channels within minutes.
In short, Revlitix is a one-stop power-packed platform that can steer the team toward revenue goals and prove the impact of marketing on revenue.
Conclusion
Marketing dashboard software empowers SaaS marketers to visualize, track, and analyze crucial insights to make informed decisions. As discussed, marketers should consider usability, scalability, and metric types to choose the dashboard.
Deploying Revlitix is a better idea rather than adopting any average dashboard.
Revlitix can help you prove your marketing ROI to the C-suite, save time with automation, and create strategies that align with your SaaS business goals.
