{"id":43643,"date":"2016-12-09T08:10:00","date_gmt":"2016-12-09T08:10:00","guid":{"rendered":"http:\/\/www.smartinsights.com\/?p=43643"},"modified":"2017-02-04T12:02:29","modified_gmt":"2017-02-04T12:02:29","slug":"marketing-dashboard-example-aa08","status":"publish","type":"post","link":"https:\/\/www.smartinsights.com\/goal-setting-evaluation\/goals-kpis\/marketing-dashboard-example-aa08\/","title":{"rendered":"An example of setting up a Marketing Dashboard with actionable KPIs"},"content":{"rendered":"

A case study example of applying the Smart Insights RACE framework to \u00a0measure customer engagement and marketing success<\/h2>\n

\"RACE\"<\/a><\/p>\n

You probably already use\u2014or at least have thought about using\u2014some form of marketing dashboard to track and manage your analog and digital marketing KPIs (Key Performance Indicators). But how has it impacted your decision-making ability concerning customer engagement?<\/strong> And do you effectively leverage that data to help you manage all the most important marketing factors that drive success for your organization?<\/p>\n

I subscribe to the basic premise behind the Smart Insights\u00a0RACE <\/a>(Reach, Act, Convert, Engage) framework for organizing and tracking digital marketing KPIs as they relate to customer engagement, but I\u2019ve expanded it to include analog marketing activities as well.<\/p>\n

[Editor's note<\/em>: Since Kent Huffman wrote this post, Smart Insights have created a RACE dashboard based on Google Analytics<\/a> to automatically display month dashboards]<\/p>\n

In this post I'll explain how I have been applying the RACE marketing framework as part of an\u00a0integrated model for my marketing dashboard at BearCom Wireless<\/strong> over the past few years and have been very pleased with the actionable insights it has provided. Although the application of the various elements will necessarily vary from company to company, if you follow the basic structure laid out in part two of this blog post, your dashboard should yield similar results for you.<\/p>\n

\"Digital<\/p>\n

Organizing and presenting the metrics for your dashboard<\/h3>\n

I\u2019ve found that the best way to organize and present the metrics related to the performance of my marketing initiatives is to relate them to the customer engagement process.<\/strong> That way, everyone who is exposed to the marketing dashboard understands not only which metrics have been incorporated, but how they impact customer experience, and as a result, the bottom line. This is where the\u00a0RACE framework really shines.<\/p>\n

A visual depiction of the RACE Digital Strategy framework<\/a>\u00a0developed by Dr. Dave Chaffey and his team at Smart Insights looks much like a traditional sales\/marketing funnel, with stage 1 at the top and stage 4 at the bottom. But before we explore how those stages relate to your marketing dashboard and customer experience, let\u2019s begin with a short discussion of one of the most difficult marketing topics to accurately measure: brand equity.<\/p>\n

Including Brand Equity metrics<\/h4>\n

Dr. David Aaker<\/a>, a renowned marketing professor and brand consultant, highlights 10 attributes of a brand that can be used to assess its strength. These metrics should be review for relevance to your dashboard. They include awareness, differentiation, personality, leadership\/popularity, perceived value, organizational associations, satisfaction\/loyalty, share of market, profit margins, and distribution coverage. Dr. Aaker doesn\u2019t weight the attributes or combine them in an overall score, as he believes any weighting would be arbitrary and would vary among brands and categories. Rather, he recommends tracking each attribute separately.<\/p>\n

Depending on the size and type of the organization you work for, measuring brand equity using all\u2014or even some\u2014of these attributes may be difficult or even impossible. But do the best you can, as tracking the value of your brand is an important element of the overall picture of your brand\u2019s health.<\/p>\n

Applying the RACE Framework to create a dashboard<\/h3>\n

Now back to our discussion of the RACE framework<\/p>\n

Stage 1: Reach<\/h4>\n

This initial phase in the customer engagement process is where your prospects are conducting research and exploring their options. Your primary goals should be to publish quality content and use effective direct marketing techniques to build awareness of your brand, products, and\/or services. The KPIs associated with this step for different media channels include:<\/p>\n