Describe the two goals of a marketing dashboard, and at least five of the elements that comprise it.

Question

What will be an ideal response?

Answer 1

Two primary goals of any dashboard are diagnostic insight and predictive foresight-with a special emphasis on the latter. Some dashboard metrics are diagnostic, looking at what has happened and trying to discern why. Probably the most important metrics you'll come to rely on, however, are predictive, using the diagnostic experience to better forecast results under various assumptions about circumstances and resource allocations.

A great marketing dashboard is comprised of the following key elements:

Company goals translated into a set of marketing objectives.
Measurement of financial impact of marketing programs.
Tracking of how marketing assets such as the brand and customer relationships are progressing.
Execution of skills and competencies of the marketing team.
Execution of other business processes necessary to deliver customer value.
Continuous refinement of tools to increase access to and usability of customer insights.
Insight on not only what is happening in the market but also why it is happening.
A diagnostic for prediction, forecasting, and of course remediation.
Ultimately, enhanced return on marketing investment (ROMI).