How to Build a Marketing Metrics and Analytics Dashboard

@demandgen Copyright © 2015 | DemandGen® International, Inc.


Topics• Why you need a dashboard• 5 stages of building a dashboard• Determining what should be on your dashboard• Starting with a Metrics Matrix• Understanding your data• Pros and cons of dashboard tools• A walkthrough of sample dashboards





Only 1/4 of marketers can answer the question, “What is marketing’s impact on the business?”

Source: ITSMA/VEM Marketing Performance Management Survey, May 2014

90–100 Marketing was able to measure and report

the contribution of its programs to the business

80–89Marketing programs made a difference

but the contribution to the business goals were not measured and reported

70–79 Marketing appears to have made some

impact on the business, but it is not clear if the impact was material, nor is it

measured

69 or lower

Marketing programs didn’t make a difference—there is no clarity as to how

marketing is contributing to the business

26%

40%

28%

6%

ABCD

For 2013, using a 100 point scale, please select what grade the CEO/Division GM would give your marketing organization for its ability to demonstrate its value and contribution to the business. % of Respondents


The “A” marketing organizations are also seeing improvements in business growth metrics

* Indicates a statistically significant difference.Source: ITSMA/VEM Marketing Performance Management Survey, May 2014

5569

7933

4563

25

39

54

In your last fiscal year, how did your company (or division) perform in the following areas: % of Respondents that Reported Improvement

The “A’s” Middle of the Pack

Laggards

Revenue growth* Dollar value of thesales pipeline*

Win rate*

The “A’s”Middle of the Pack

Laggards

The “A’sMiddle of the Pack

Laggards

The “A’s” Middle of the Pack Laggards


Three key characteristics of best-in-class marketers

Act as business people first, marketers second1

Make marketing performance management a priority2

Set quantifiable performance targets and report results in a multilevel dashboard

3


Develop actionable performance management dashboards to enable fact-based decisionsReport results on three levels:

Executive Operational Functional


Planning

Who is our audience? What

business outcomes do they drive?

Requirements Gathering

What indicates success (or

failure)? What’s the storyline we use to present

those indicators?

Design

How do we organize the

information we need to tell the

story?

Data Discovery

Do we have that

information?

Build + Test

Lights! Camera! Action!

Maintain

Every blockbuster deserves a

sequel…

Dashboard Project PhasesDemandGen’s methodology includes the consulting, system architecture, and development needed to create an effective dashboard: the control room of the Demand Factory, where the input, output, and performance of core systems (such as demand generation and lead management) are monitored and reported for analysis.


Planning• Conduct interviews and

collect documentation• Set expectations• Capture:

– Intended audience and goals – Core themes and desired

business outcomes– Comparisons and indicators – Filters and roll-ups– Data sources

OUTPUT:

Dashboard RequirementsA brief outlining the business requirements for the dashboard


In business, good stories lead to action

Data Insight Action

Don’t stop here!


Marketing Performance Dashboard Example Themes• Demonstrate Marketing’s impact on and value to the

business• Monitor Marketing program effectiveness to

determine how best to invest• Assess effectiveness of Marketing-to-Sales lead

handoff• Measure effectiveness of Sales follow-up and

bookings success


COMPANY INITIATIVES

Growth initiative A

Growth initiative B

MARKETING INITIATIVES

Deliver X MQLs to Sales

Increase multi-product

shopping cart sales

Planning Drives KPI DefinitionSample

MARKETING PROGRAMS

Nurture

Marketing Tactics

Website Community

• Email• Webinar• Events

• Live Chat• Library

• Blog• Newsletter

Marketing Offers• Video • Product


PROGRAM

CAMPAIGN

OFFER

Campaign Reporting Framework

Tactic

Tactic

OFFER

Tactic

Tactic

CAMPAIGN

OFFER

Tactic

Tactic

Tactic

A well-defined hierarchy of elements is required to ensure accurate campaign-level reporting. This example demonstrates how the elements relate – there is always a likelihood of multiple child elements under any one parent.


Determining a Campaign Attribution Model

PIPE CLOSELEAD

Multi-Touch: EvenOpportunity amount split evenly across all campaign touches. Useful when marketing is responsible for generating awareness and demand throughout the lead lifecycle and each response is equally important.

PIPE CLOSELEAD

Single-Touch: LastEntire opportunity amount assigned to campaign the resulted in the pipeline (opportunity) being created. Useful when your primary objective is generating pipeline.

PIPE CLOSELEAD

Single-Touch: FirstEntire opportunity amount assigned to campaign the resulted in the lead being created. Useful when your primary objective is generating awareness.

Selecting an attribution model is key to aligning which opportunity amounts should be associated to which campaigns.


O u t p u t s O u t c o m e s

Adopt a metrics framework and

create a catalog

Counting Media Mentions Trade Show Leads Click Through Rates Site Registrations Demo Downloads Number of New

Contacts/Leads

Output-Based

Efficiency Lead Aging Pipeline and Bookings

Sourced or Influenced Campaign ROI Cost/Billing Dollar Program/Total Spend

Operational Business Outcomes Market Share Category Ownership Lifetime Value Adoption Rates Revenue Contribution

Outcome- Based

Likelihood of Outcomes Demand Funnel

Volume, Value & Velocity

Share of Wallet Rate of Growth: Market Share of Preference

Leading-Indicators Expected Outcomes

Campaign Lift Modeling Predisposition to

Purchase Likelihood to Defect Marketing Mix

Optimization

Predictive


Use data and metrics to gain forward-looking, actionable insights

Metric Categories Included on Dashboards

Source: ITSMA/VEM Marketing Performance Management Survey, July 2012

Leading Indicators• Campaign/Lead ROI• Marketing

spend/budget• On-time delivery of

marketing programs• Cross-sell/upsell• Price discounting• Cost to acquire/retain

Historical• Demand Funnel volume,

value, and velocity• Share of preference• Share of wallet• Propensity to purchase• Category growth rate• Product/service adoption

rate• Innovation revenue rate• Price premium


Requirements Gathering• Define KPIs, metrics and

groupings that align to the business outcomes

• Determine filters, drill paths and dimensions

• Specify goals, benchmarks and thresholds

OUTPUT:

Dashboard Metrics MatrixA dictionary of all the metrics and visualizations to be included in the dashboard


Data Discovery• Evaluate data against

dashboard requirements• Identify gaps and provide

recommendations for compliance

OUTPUT:

Data Field AnalysisAn analytical report assessing the completeness and consistency for all elements of the dashboard


Data chain integrity is essential for reporting

1. Prospect Activity

2. Lead Capture

3. Lead Management

4. Reporting


Design• Document all data sources,

elements + flows• Create data blueprint

comprising all required calculations

• Develop UI prototype describing visualizations and placement of information

OUTPUTS:

Dashboard BlueprintA specification of the precise components required to construct the metrics, reports and visualizations

Dashboard WireframeA prototype of the layout of the elements of the dashboard


Build: Excel vs. Business Intelligence Platforms

Excel Elite Reporting Business Intelligence (BI)PROS

• Less expensive (no license fees)• Easy to share• Typically faster build time• Familiar interface

• Real-time data exploration • Available on-demand/online

accessibility • Sharing and collaboration functionality• Multiple delivery formats (mobile, PDF,

embeddable in other apps)• Extensive set of charts/visualizations

CONS

• Static between refreshes• Build to lowest common Excel version• Dependencies on Windows vs. Mac

versions• Limited drill-down capability• Limited data capacity

• Higher development and license fees• Potentially longer build time


Excel Elite Examples


BI Examples


5 Steps to Dashboard Success1. Plan - Work with stakeholders and your Marketing Plan

2. Metrics Matrix - Build a wishlist of KPIs and metrics for your dashboard

3. Data Discovery - Assess where your dashboard will have gaps due to poor data

4. Design - Define what your dashboard users will see

5. Build - Find the right dashboard platform

6. Iterate - Evaluate whether your KPIs still hold up

@demandgen Copyright © 2015 | DemandGen® International, Inc.@demandgen Copyright © 2015 | DemandGen® International, Inc.

Q&A

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Date post:	08-Jan-2017
Category:	Data & Analytics
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How to Build a Marketing Metrics and Analytics Dashboard

Data & Analytics