Marketing Dashboard

To create the marketing dashboard, the organization will first engage the customers to explore their options as well as undertaking a market research to establish demand and supply dynamics. The result of the research is also essential in the establishment of the major customer value metrics. Secondly, appropriate software for creating an interactive dashboard is acquired to develop a platform that can enable both the customers and the organization to observe the performance of the various metrics. The third step in the development of the dashboard includes the development of the necessary key performance indicators.

Some of the key performance indicators (KPIs) that are used to determine the effectiveness of the elements of the dashboard include customer acquisition cost (CAC), customer retention, brand awareness, and the lifetime value of the customer. The customer acquisition cost (CAC) refers to the marketing expenses that are used for acquiring a customer. The CAC is vital in measuring value as it enables for the comparison of revenues against expenses to track profitability of the processes. Customer retention is an important metric for measuring customer value, loyalty, and satisfaction as the clients are most likely to be satisfied if they get value for their money and are satisfied. Brand awareness for tracking the customer value relates to the evaluation of the customer’s knowledge of the key product features and the benefits that they can obtain should they use the communication platform. The KPIs are also essential for assisting the firm attain its monthly targets while tracking the value the value that are offered to the customers through the marketing efforts.