[Updated for 2023]
What if you could instantly view how your company is progressing toward its performance goals and the effectiveness of your marketing strategy? This is exactly what marketing scorecards and marketing campaign dashboards allow you to do. This is your guide to how both tools track campaign performance over time.
What is a Marketing Scorecard?
The Value of a Marketing Scorecard
What are the Elements of a Marketing Scorecard?
What is a Marketing Dashboard?
The Value of a Marketing Dashboard
The Difference in Marketing Scorecards and Marketing Dashboards
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A marketing scorecard is a measurement tool that helps companies make sure that their business processes align with their business strategy. It allows a team to keep track of the progress of company goals so that they can make improvements to their marketing efforts when needed. Scorecards place an emphasis on certain time periods, whether it be weekly, bi-weekly, monthly, or quarterly.
Utilizing a marketing scorecard offers several benefits to companies who are striving to meet their marketing goals. These benefits include:
Your scorecard should be simple to maintain and easy to understand at a glance. Be careful not to clutter your scorecard with too many elements. This will decrease its usefulness and efficiency. These are the main elements of a marketing scorecard:
These are the basic elements of any scorecard. Companies can also choose to incorporate data such as the percentage achieved towards each goal, notes on strategies that were successful, and notes on strategies that need to be revised.
A marketing campaign dashboard is a tool that visually displays marketing analytics, KPIs, and metrics. Their purpose is to give teams the ability to monitor marketing performance in real-time.
The use of a marketing dashboard offers plenty of benefits to companies and teams when it comes to effectively executing marketing strategies. Benefits of marketing dashboards include:
For companies looking to track performance of their marketing efforts and keep an eye on key metrics, there are several dashboard platforms available including:
The choice of marketing dashboard platforms is dependent on the needs and budget of your organization. However, the importance of having a built-out, up-to-date marketing dashboard is crucial.
The main difference between scorecards and dashboards is that scorecards are geared toward tracking a company's progress toward its goals. On the other hand, dashboards provide an aerial view of data and are ideal for making day-to-day operational decisions.
The good news is that you do not have to pick one or the other for your marketing operations. Your company can greatly benefit from using each at the appropriate time to obtain a crystal clear picture of both the health and progress of your business.
We get it! Marketing takes a lot of time and energy that would be better spent running other aspects of your company. Ironmark helps you leverage your marketing strategy to generate more leads and create more sales! Contact us today for more information!