Use Case: Consolidated marketing dashboards
You are in charge of driving sales through online channels, you want to understand which marketing channels are working (and which are not) and whether your websites are successful (or not) at converting visitors into customers.
You can then make smarter investment decisions and ultimately, drive more sales.
Currently, your marketing reports are siloed by delivery channel – digital, store, telephone or by technical platform.
They take days, if not weeks, to compile and give very little indication of what marketing has contributed to the sale.
The process is not just labour-intensive, but it is very error-prone.
Your stakeholders have a cynical distrust of the data.
Even if you were 100% accurate, it is impossible to look at one report and gain a complete picture of marketing performance.
You don’t know whether you should spend more – or less – on each marketing channel.
To make matters worse, multiple data sources often double count the same visitor, which means that the sum of the parts is greater than the overall total.
This results in confusion and distrust of the numbers among your stakeholders and makes it difficult to make data-driven decisions.
What is the ideal solution?
Ideally, you would review one report that showed you end-to-end performance for all marketing channels. This would show KPIs, such as conversation rate, average order value and cost per sale.
You would like to see KPI benchmarks against week-on-week, month-on-month and year-on-year targets in this report.
Also, problem areas should be highlighted, such as the percentage of prospects dropping out of the marketing funnel.
In this case you can quickly address them and prevent a further loss of sales.
How will Mezzo Labs help?
This is a common challenge among heads of digital and e-commerce and we have solved it many times.
Firstly, we define the metrics that matter in a KPI workshop.
This ensures we are tracking the data that everyone agrees will measure (and improve) business performance.
Secondly, we audit your websites and apps to ensure that the data is being correctly captured – and if necessary, we will fix any broken tags.
We will ensure correct campaign tracking is in place – without it, we will never know how a campaign affected a conversion.
Then we stitch together siloed data sources using an ETL solution like Alteryx and a cloud-based database like MySQL.
This ensures that the data is automatically collected, cleaned and aligned (for things like the date) and presented in a repository ready for reporting.
This becomes your “single source of truth”.
Then we use dashboarding and visualisation tools such as Domo, Tableau, Microsoft PowerBI or even Excel to present data in a single automated report (or a suite of reports) showing all the different KPIs and benchmarks.
What are the business benefits?
The most immediate benefit is the freeing up of marketing resource from report generation.
This repetitive monthly activity adds no value.
Once the resource has been freed up, they can concentrate on finding insights and generating hypotheses – finding out why visitors don’t convert to customer, where the problem areas are and how we might fix them.
Perhaps the greatest benefit is that all stakeholders are aligned on a discussion about business performance.
No more distrust of the data.
Just transparency about marketing performance and a constructive approach to allocating the right budgets to the channels that work.