Top KPIs To Include In Your Marketing Dashboards

 'You can't improve something you can't measure.' This is a quote from the well-known management consultant Peter Drucker, and it makes sense when it comes to dashboard Business Intelligence. 

Because of this, KPI marketing dashboards are a vital part of everything you do for your clients. You have to measure something to figure out where you are and where you need to improve the most. 

But the fact that you can't track something doesn't mean it always should be. There is such a thing as getting too much information. When you are keeping track of too many things, it can be easy to get lost in the numbers. If you have analysis paralysis, you're not doing anything to help yourself. 

This blog will discuss the most important KPIs for marketing as part of your Business Intelligence data visualization. 

The Best KPIs for Your Marketing Dashboards

1. Customer Acquisition Cost

The cost of getting a new customer may be the most important metric for a growing company. As its name suggests, CAC in your marketing dashboards tells you how much it costs to get a new customer. 

This is so important. It's important because it gives you a clear line by which to judge your marketing activities. If a marketing campaign doesn't bring in new customers at a cost lower than your current customer acquisition cost and instead works to increase that cost, it's probably not worth your team's time. 

2. Sales Revenue 

You need to know how much money your marketing efforts bring to your business. To do this, you need to know and keep track of your sales revenue. Also, you need to be able to connect specific marketing activities to sales. 

If some activities aren't making enough money to cover their costs (this goes back to customer acquisition cost), you stop doing them. This is a vital part of inbound marketing because there are a lot of little things that can all have an effect on sales, even if it's a small one. 

3. Customer Lifetime Value 

Along with Customer Acquisition Cost, Customer Lifetime Value (CLV) is the most important metric you can track. It's a way to figure out how much your customers are worth to your business over their whole lives, not just when they buy something from you the first time. 

Optimizing for CLV in your full-stack Business Intelligence software is powerful because it subtly means optimizing to reduce churn, keep customers happy, and grow your revenue.

4. New Contact Rate

Knowing how quickly you can turn website visitors into leads is essential. You should evaluate your new contact conversion rate based on the different traffic sources (direct, organic, social media, and referrals) to see which channels work best for your business. 

No matter how much traffic you get, it only matters if you can turn that traffic into contacts and leads. A website that gets five visitors and turns all of them into leads grows more than one that gets 1 million visitors but only turns one of them into a lead. 

Conversion rate optimization and split testing are essential parts of inbound marketing strategies. The new contact rate is a vital part of both. Keep an eye on this number to determine what changes you need.

5. Leads to Customer 

The next step in measuring the "New Contact Rate" is to look at this next marketing KPI on marketing dashboards. With a lead-to-customer ratio, you can track how many leads turn into customers. 

It is important because it shows how well your sales operations work and, to a lesser extent, how well your marketing works. Of course, your marketing campaigns need to bring in good leads, or your salespeople will have difficulty closing them. 

Ultimately, to keep improving your lead-to-customer ratio, you must ensure that your marketing and sales are working together.

Closing Words-

Marketing focused on KPIs drives growth. 

When you focus on the right numbers, you set yourself up to grow consistently. 

Grow can help you if you want your digital marketing to be based on facts; read Capterra grow.com for more. 

Contact us right away to set up a risk-free meeting with our marketing dashboards experts and level up your Business Intelligence data visualization game for swift decision-making.