Sales and Marketing Performance Dashboard

Use this tool to collect, analyze, and communicate key performance indicators and metrics for sales & marketing.

Key Areas Include:

Customers
Branding, Advertising, and Public Relations
Events and Tradeshows
Direct Marketing
Website and Online Marketing
Sales and Marketing Collateral
Channel Sales
Pricing and Discounts

Analytical Marketing Tools & Techniques

Decisions need to be supported by sound information. Obtaining information and translating it into actionable and predictive insight is a difficult challenge. Don’t reinvent the wheel; leverage tools & techniques that have been proven to work. Following is a list of 8 free, downloadable, tools & techniques developed by consulting firm Marketing NPV who specialize in helping companies demonstrate marketing ROI and develop marketing dashboards.

Key Analytical Tools & Techniques

• Perceptual Mapping Tool – these maps take empirical customer-based evaluations of key brand attributes and translate this data into visual maps. These maps provide a method for calculating the ROI of positioning changes, identifying product strengths & weaknesses, and determining unmet customer needs. Read this article by Marketing NPV’s Managing Partner to learn more.
• Resource ReAllocator – by combining management science, historical data, and executive judgments, this model can be used to size and allocate marketing resources such as salesperson headcount.
• Bass Diffusion Modeling Tool – use this technique to accurately forecast revenue for a new product where you have no historical data.
• Markov Chains – this technique can be used to understand the future of your market such as how your customers will make purchasing decisions. Many organizations have used Markov chains to forecast the impact of market changes. Follow this link to learn more about this technique.
• Marketing ROI – measuring return on investment is one of the most frequently used methods for analyzing the success of marketing programs. Follow the preceding link to develop a Forward ROI model.
• Decision Trees – this technique provides a method for breaking large decisions into manageable pieces, analyzing the expected outcomes, and determining potential payoffs.
• Simulation Tools – using turbocharged Excel spreadsheets can provide insight into the effectiveness of a particular marketing program. Follow the preceding link to download the required plug-in for Excel and start simulating.
• Competitive Radar – use this tool to graphically represent your competitive matrix.

Get Ready to Measure Marketing Performance

Most marketing organizations are being told that they need to do a better job of measuring marketing performance. While this task is certainly complex, there are proven methods to determine the payback from marketing investments. Before you commit to a Marketing Dashboard initiative, consult Demand Metric’s downloadable Dashboard Readiness Assessment to determine if you have the required capabilities to be successful.

Capabilities Required to Measure Performance:

• Marketing Metrics & Dashboard Capability – key performance indicators are used to monitor, measure, and predict future results; effectiveness measures are selected prior to campaign launch; causal links have been identified in marketing & business metrics; a high-level dashboard exists.
• Business Process Documentation & Maturity – defined, repeatable processes exist for: sales; marketing; billing; customer service; order management; strategic planning; campaign planning; project management.
• Data Management & Information Assets – customer and product information needs to be stored safely in either a data warehouse or online storage system. Transactional data can be used to glean predictive insights.
• Human Resources & Skill Sets – resources will be available for developing/learning new processes; members of department clearly understand their role & responsibility; staff is comfortable working with data.
• System & Technology – the following systems are deployed: customer relationship management (CRM); marketing resource management (MRM); campaign management software; business intelligence & marketing analytics; integrated demand generation platform; sales & marketing portal.