Here’s a marketing dashboard for you: A daily view of money coming in and a daily view of money going out. As they say on the Long Island Rail Road “Please watch the gap.” Cursor over the money coming in and it should be able to show drop downs of the various expenses by category. Cursor over the money going out, the same. If you can’t parse the ins and outs by day, look at the data by week or in three week rolling averages. That’s Da Monies.
Factors Influencing Revenue.
Money going in and out is a nice start but tying actual tactics and events to spikes and dips is what is exciting. Pumping GRPs of TV into the market should create revenue lift. Promotions the same. A big bad news story in St. Louis might create a dip. As might a poor earnings reports. Careful monitoring and modulation of marketing dollars, based on a game plan and strategy, introduces a higher level of accountability to marketing. But it’s not often happening. In healthcare, there are chief quality officers, who own the data. When physician mistakes are up or when hospital born infections trend high, the average patient discharge rate slows down. Where is this type oversight in marketing? With the CMO?
I’m sure P&G has some dashboard jockeys. One of them will be a millionaire soon if s/he figures out a marketing dashboard application that ties Da Monies to the marketing. With precision. Elegance. And with standardization. Coming to an iPhone near you. Peace!