“Every aspect of marketing is entirely useless unless it produces conversions.” -Jeremy Smith
Conversion Rate Optimization (CRO) is a crucial element of every enterprise’s marketing strategy.
If you’re eager to wring every drop of conversion goodness from your campaigns, just getting enough data on CRO and its analysis is not enough. Visualizing this data in order to make sense of it instantly to enable real-time decision making is increasingly critical.
Unable to churn out anything valuable from analytics, CMOs find it difficult to quantify ROI and this is one of the reasons why one in five CMOs score themselves below average in multi-channel attribution.
That’s where a CRO dashboard comes into play!
It is a dashboard specifically designed to help them answer the above questions to make an intelligent marketing decision.
We list the key benefits of CRO dashboards that help enable CMOs to get a better grasp on one of their most valuable tools: ‘Data.’
Benefits of CRO Dashboards
Metrics gathered from a CRO strategy provides vital insights like the health of your campaigns, the number of users consuming your content, and the status of the referral program. CRO dashboards help in visualizing this data that further overcomes a host of deterring marketing challenges.
1. Measurement Leads to Improvement
It becomes very hard to make the amendments in your marketing strategy if you are unaware of the current standing of the CRO metrics. Without knowing the status of your marketing campaign, you cannot make and implement a guess into your campaign to make it better.
A CRO dashboard is a tool that enables you to compare your goals against your real-time results. This allows you to respond wisely and you can improve and shift your strategy as and when needed, making sure you are always on top of your game.
2. Instant Visibility of Your Current Standing
A CRO dashboard gives you a quick-and-easy overview of where everything stands by effectively summarizing all the key metrics you have selected to track.
With real-time reporting, you can get a live view of the performance of your marketing campaign. You have to just shortlist the key performance indicators that you wish to monitor, and your CRO dashboard will provide you a platform to instantly visualize everything: your visitor traffic to your conversion rate to the sales generated across all channels.
3. CRO Dashboards Provide Improved Agility
The instant visibility that CRO dashboards provide, opens up the doors for improved agility that an enterprise will need to make quick and intelligent decisions. As you will be getting regular reports on ongoing performance measurements, the strategies that you have embraced may be quickly adjusted in real-time to fit what’s happening now.
Once you have embarked on the path to agility, you will find yourself more efficient across the board as the decisions will be made with thorough understanding of the data.
4. Surface Deeper Insights with CRO Dashboards
Today, most of the enterprises are struggling to find an effective and easy way to analyze data. The common challenges (How’s) faced by them are as follows:
- How to collect data from disparate data sources?
- How to identify key metrics and easily analyze them?
- How to gather the insights needed to make smart, data-driven decisions?
The answers to all the How’s mentioned above reside in CRO dashboards. CRO dashboards allow you to easily combine data from disparate data sources to build a birds-eye-view of your performance. On the contrary, charts created in spreadsheets rely only on data from a single database.
Thus, CRO dashboards surface deeper insights by mining skillful analytics from data r spread across disparate data sources.
5. CRO Dashboards Help Save Time
Rather than printing out spreadsheets and reports, you can simply rely on CRO dashboards to generate instant, comprehensive reports about the health of your marketing campaign. The visual nature of the CRO dashboard saves you the time of interpreting the numbers.
This time can instead be used to make improvements within the organization in departments or processes that are underperforming.
Deploying a CRO dashboard for your marketing activities takes out the ambiguities and the guesswork from your campaigns by enabling them with real-time access to vital decision-making data insights.
CRO dashboards ensure that a marketer gets acquainted with the progress of his team’s work, on the go, and strategizes in time to bridge the gaps between the actuals and the forecasted goals.
A right CRO dashboard is thereby, a critical element of every successful marketing strategy and no marketer can afford to keep it away from his arsenal.