Marketing can be a daunting task, and for many businesses, spending big on marketing is often met with hesitation. The reason for this is simple: companies are not sure if they will see ROI.
The #1 way to alleviate this concern? Real time KPI (Key Performance Indicators) dashboards.
A dashboard with KPI analytics is a tool that allows you to track and monitor the performance of your marketing campaigns. It provides you with live data, allowing you to see how your campaigns are performing at any given time. This information can help you make informed decisions about your marketing strategy and adjust your approach as needed.
Here are the top four reasons why having live-time access to a dashboard with KPI analytics is critical to have in place before spending big on marketing:
- Identify What Works and What Doesn’t
A dashboard with KPI analytics allows you to identify what’s working and what’s not with your campaigns. By tracking important metrics such as click-through rates, conversion rates, and cost-per-acquisition, you can quickly see which campaigns are driving results and which ones need to be adjusted. This information is critical in making data-driven decisions and maximizing the ROI of your advertising spend.
- Measure ROI
One of the biggest concerns that companies have when it comes to advertising is measuring ROI. A dashboard with KPI analytics helps to alleviate this concern by providing you with real-time data on how your campaigns are performing. With this information readily available, you can easily calculate your ROI and determine whether your advertising spend is generating a positive return.
- Adjust Your Approach as Needed
Marketing is not a one-size-fits-all approach, and what works for one business may not work for another. A dashboard with KPI analytics allows you to adjust your approach as needed based on the real-time data you’re receiving. By monitoring your campaigns closely, you can make informed decisions about where to allocate your advertising spend and adjust your messaging to better resonate with your target audience.
- Save Time and Resources
By having live-time access to a dashboard with KPI analytics, you can save time and resources by quickly identifying what’s working and what’s not. This information allows you to make informed decisions about where to allocate your resources and adjust your approach accordingly. Without this data, you could be wasting time and money on campaigns that are not generating results.
Putting marketing into practice and proving ROI tends to be convoluted, and that’s where we see companies struggle the most. Hints the development of our live KPI dashboards we now offer with every campaign. Before you spend big on your next marketing endeavor, consider having in place a dashboard tool that takes the guesswork (and anxiety) out of your marketing efforts. Should you find yourself still stuck, know we’re just a quick Cat Chat away to help you answer marketing’s most challenging questions:
- What to do now?
- What to do next?
- How do we pull it all off?
Marketing Strategist + Client Relations | CreativeCat.Co