The marketing dashboard can also include cost of goods sold, returns, value or returned goods, and return on investment.
Let’s look at an example to see how managers can use marketing dashboards to analyze and make business decisions.
Marketing analysis example
Checking the marketing dashboard, you see that the conversion rate for one store decreased. Since conversion rate equals traffic divided by transactions, you can check these metrics to see what happened.
In this situation, traffic went up but transactions remained the same. This means while you’re attracting more customers to your store, they haven’t bought your products.
To increase transaction numbers, you will need to improve the customer experience inside your store. For example, you can adjust merchandise displays inside the store to showcase best selling products more prominently or include more bundle deals. Besides, you can discuss the traffic trends with sales managers to have more staff during peak hours so they can help the customers more effectively.