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6 examples of executive dashboards that wow the “C” suite 0

Posted on October 16, 2017 by Rob Petersen

executive dashboards

Executive dashboards can be powerful business tools.

They are visual representations that summarize complex information in an easily digestible way. Effective executive dashboards present a clear picture and tell a story that makes a compelling case for action,

The person or team that creates an effective executive dashboard are seen as strong analysts and great manager of a business.

If being perceived in this light is important to you, here are 6 examples of executive dashboards that wow the “C” suite and why.

#1. KPIs:

executive dashboards - kpis

The most important consideration of executive dashboards is they show the right measurements, the metrics that matter to the “C” suite. KPIs (Key Performance Indicators) are measurable values that demonstrate how effectively a company is in achieving its key business objectives. In most cases, KPIs for an executive dashboard begin by showing fiscal performance – sales, profits or revenue. Then, they might feature key customer metrics (e.g. visits, leads, cost per acquisition (CPA), conversion rate, customer lifetime value (CLV));and then factors effecting these measures (e.g number of customer complaints, performance by region, marketing).

#2. CLEAR ORGANIZATION executive dashboards - clear organization

Executive Dashboards are particularly effective when all key information is placed on one page. The organization of the charts, information and key takeaways has to clearly lead people Most people read left to right and top to bottom. So, consider the best chart to present specific measurement and how you organize them. The chart above clearly shows at a glance sales by product, sales progress, global sales and ratios of over and under achievers.

#3. CHART TYPES

executive dashboard - chart types

 

Software and data visualization tools have gotten pretty sophisticated for executive dashboard. Charts types found most often on executive dashboards are:

  • Line Charts – A Line Chart is an effective graph formed from a series of data points connected by the eponymous line. They are often used to show developments over time and identify trends.
  • Bar Charts – Perhaps the most common misconception about charts and dashboards is that more is better. Bar Charts are a simple and effective way to look at different values and segments (like sales by region) and provide clear and compelling analyses and comparisons.
  • Pie Charts – These charts are often the subject of controversy. Data visualization guru Edward Tufte writes, “pie charts are bad and that the only thing worse than one pie chart is lots of them.” No matter how you feel about pie charts, the only time you should use them is when you need a graph representing proportions of a whole, when the total of your numbers is 100%.
  • Tables – Tables are great for detailed information with different units of measure, which may be difficult to represent easily in a graph or chart.
  • Gauges – This type of graphic typically displays one or more values using indicators and appropriate metrics. They are often used in dashboards to highlight a specific KPI that needs attention.
  • Area Charts – Area charts are awesome for multiple data series with part to whole relationships, or for individual series representing a physically countable set.
  • Maps – Maps are effective for regional differences or a highlighting a key metro area or city

#4. DRILL DOWNS

executive dashboards - drill downs

Executive dashboards for the “C” suite are meant to show a high level view. But you never know how deep into a particular area some one might one to go. Charts on executive dashboards show either the ability to be created so additional information can be added to the high level view to get deeper into a particular areas or time.

#5. TEXT BOXES

executive dashboards - text boxes

Don’t expect everyone will walk away from a chart with the same conclusion as you. The chart above from Avinash Khausik, Digital Evangelist at Google, shows how text boxes should be used. Don’t be afraid to use text boxes to make your point, provide insights and give actions. People appreciate when the path and the plan are presented for them.

#6. INDICATED ACTION

A strong presentation of key data is going to impress the “C” Suite. What is going to delight them is if the actions to be taken are also included and their impact is projected. The is the primary purpose to the dashboard. The dashboard above, also from Avinash Kaushik, states actions and, because the data has been analyzed, quantifies business impact.

Do these examples show why executive dashboard can be such powerful tools? Does your organization need to get started with one?

37 fascinating facts about Facebook advertising (Infographic) 0

Posted on October 09, 2017 by Rob Petersen

Facebook advertising

Facebook advertising is a big and growing business. Companies spent more than $9 billion on Facebook ads in the second quarter of 2017 alone. That’s an increase of 47 percent (Nearly $3 billion) from the same period in 2016.

Is your company one of them? Should it be? It helps to be well informed.

Here are 37 fascinating facts about Facebook advertising. And an INFOGRAPHIC to explain the types of ads available.

  1. Facebook boasts the broadest, deepest, and most comprehensive data set of human information, interests, and activity ever collected. (TechCrunch)
  2. Facebook is the second largest digital advertising company after Google. (The Motley Fool)
  3. Facebook is the sixth-most-valuable public company in the world. (Forbes)
  4. Facebook reported advertising revenue of $9.16 billion in the second quarter of 2017, a 47 percent increase over the same quarter last year. (Ad Week)
  5. 450,000,000 buy and sell things on Facebook each month (DMR)
  6. 16,000,000 local business pages had been created as of May 2013 which is a 100 percent increase from 8 million in June 2012. (Facebook).
  7. 4,000,000 businesses advertise on Facebook. (DMR)
  8. 2,000,000 websites that have a Facebook tracking pixel on them so that the website owner can retarget its website visitors. (Cision)
  9. At least 98 data points are available for targeting purposes on Facebook ads. Click the source to view what they are. (The Washington Post)
  10. 93% of social marketers regularly use Facebook ads (Social Media Examiner)
  11. 90% of all ad growth in digital advertising is coming from Facebook and Google. (Fortune)
  12. 84% of Facebook advertising revenue is from mobile. (Mediakix)
  13. 75% of brands promote their posts on Facebook. (DMR)
  14. Watching 10 Seconds Of Video On Facebook Generates 72% Of Total Campaign Value In Purchase Intent. (Mediakix)
  15. 70% of Facebook advertisers come from outside the U.S. (DMR)
  16. 69% of Facebook ads link to a landing page (Ad Expresso)
  17. 65% of digital advertising revenue last year came from Facebook and Google. (Fortune)
  18. 64% of social marketers plan on increasing Facebook ad activities (Social Media Examiner)
  19. 57% of Facebook advertising budgets are dedicated to mobile. (DMR)
  20. 50% growth in the number of Facebook advertisers occurred in 2016 from 2015. (DMR)
  21. 50 minutes a day is the average amount of time peoples spend on Facebook every day (NY Times)
  22. 42% of marketers report that Facebook is critical or important to their business. (Zephoria)
  23. 42% of millennials can’t last 5 hours without checking their Facebook feed. (eMarketer)
  24. Only 42% of marketers feel their Facebook efforts are working (Social Media Examiner)
  25. 41% of small businesses use Facebook (BarnRaisers)
  26. 32% increase in share for Facebook per year since its IPO. (The Motley Fool)
  27. Carousel Ads Are 10x Better At Getting Clicks Than Static Posts On Facebook. (Mediakix)
  28. 15% drop in user engagement on Facebook in 2016 from 2015. (DMR)
  29. 9.21% is the average conversion rate for Facebook ads. (Kient Boost)
  30. 9% increase in the average price of a Facebook ad year over year. (Mediakix)
  31. 6% of all pages on Facebook advertise.(DMR)
  32. 0.9% is the average Facebook Click-Through Rate (CTR). (DMR)
  33. 2.85X increase in Facebook Click-Through Rate when Facebook Call-to-Action buttons are added. (Mediakix)
  34. $0.64 is the average Facebook Cost-Per-Click (CPC). (DMR)
  35. 3X higher Cost-Per-Click (CPC) on Instagram than Facebook. (The Motley Fool)
  36. $0.26 is the average Cost-Per-Like for Facebook Like campaigns (Ad Expresso)
  37. Facebook video ads have a Cost-Per-Click of $0.18. (Kinetic Social)

Do these facts help determine if Facebook advertising is right for your business? Or how, if you are doing Facebook advertising, you might do it better?

facebook advertising

27 surprising facts about collaboration in the workplace 0

Posted on October 01, 2017 by Rob Petersen

Collaboration

Collaboration is a cooperative arrangement where two or more parties (who may or may not have worked together before) work jointly toward a common goal. When collaborations works, the collective “know how” creates results not possible without the collective interaction.

With this kind of promise, is it working in the workplace?

Here are 27 surprising facts about collaboration in the workplace. They show why it works and why it is or isn’t working in our businesses today.

WHY IT WORKS

  1. Managers are the Number 1 way that people feel supported by their organization. (Forbes)
  2. 90% of employees believe that decision-makers should seek other opinions before making a final decision. (Salesforce)
  3. 88% agree that a culture of knowledge-sharing correlates to high employee morale and job satisfaction. (Oscar Berg)
  4. 88% believe collaboration accelerates decision making. (Next Plane)
  5. 75% of employers rate team work and collaboration as “very important.” (Queens University)
  6. Women are 66% more likely than men to help others in need  – an action that typically costs more time and energy than sharing knowledge and expertise. (Oscar Berg)
  7. 60% of respondents have experienced change in their way of thinking due to collaborations. (Oscar Berg)
  8. 56% pointed out collaboration-related measure as the factor that will have the greatest impact on their organization’s overall profitability. (Oscar Berg)
  9. 56% of respondents said that they were happier when they collaborated. (Oscar Berg)
  10. 53% are confident that collaborations are having a positive and tangible impact on their organization. (Oscar Berg)
  11. Compared to two decades ago, the time managers and employees spend on collaborative activities has ballooned by 50% or more. (Oscar Berg)
  12. Over 50% of employees and managers identify time saved completing tasks as a benefit of collaboration.
  13. 49% of Millennials support social tools for workplace collaboration. (Queens University)
  14. 33% of organizations are using social collaboration tools across all departments. 50% of those surveyed expect that number to increase in 2017. (Next Plane)
  15. 30% want to collaborate more, with women slightly more collaborative than men. (Oscar Berg)
  16. Men are 36% more likely to share knowledge and expertise than women. (Oscar Berg)

WHY IT IS OR ISN’T WORKING

  1. 97% of employees and executives believe lack of alignment with a team impacts the outcome of a task of project. (TINYpulse)
  2. 86% of employees and executives cite lack of collaboration or ineffective communication for workplace failures. (Salesforce)
  3. Less than 50% say that their organizations discuss organization issues truthfully and effectively. (Salesforce)
  4. 40% of employees believe that decision makers “consistently failed” to seek another opinion. (Salesforce)
  5. 40% of organizations lack a collaboration strategy altogether. (Dimension Data)
  6. 39% of employees believe that people in their organization don’t collaborate enough (Professional Service Centre)
  7. 20% to 35% of value-added collaborations typically come from only 3% to 5% of employees. (Oscar Berg)
  8. 20% of organizational “stars” don’t contribute to the success of their colleagues after they have hit their own numbers and earned kudos for it. (Oscar Berg)
  9. Only 18% of employees get communication evaluation at their performance review. (Queens University)
  10. People tend to lie more when collaborating on a joint effort when they believe it will result in a better outcome for both, if they engage in collusion. (Oscar Berg)
  11. People primed to think of themselves in an organizational context (e.g., co-worker) felt less motivated to reciprocate and did reciprocate less than those in an otherwise parallel personal (e.g., friend or acquaintance) situation. Organizational contexts reduce people’s obligation to follow the moral imperative of the norm of reciprocity. (Oscar Berg)

The facts say to me although the vast majority of people believe there are significant benefits to collaboration, what we believe is not often what we practice and do.

What do these facts about collaboration say to you? Are they are a surprise? Does your business need help is creating a culture of collaboration?

Top 10 marketing KPIs every business needs to know 0

Posted on September 25, 2017 by Rob Petersen

KPIs (Key Performance Indicators) are measurable values that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their success at reaching targets.  KPIs are the actionable scorecard that keeps business strategy on track.

Here’s a brief, video explanation on KPIs from Erica Olsen at On Strategy.

According to Peter Drucker, marketing and innovation are the two chief functions of any business. Marketing is the distinguishing, unique function of the business. The aim of marketing is to know the customer so well the product or service fits him and sells itself.

What are the right KPIs to evaluate marketing effectiveness. Here are 10 marketing KPIs every business needs to know.

1. REVENUE OR PROFITS: In most cases, KPIs are designed to follow the money. If your a sales driven company, booked revenue is the monetary metric that determines the business’ vitality and health. Profit is perhaps the most important monetary metric. Profit is revenue after all the expenses related to the manufacture, production and selling of products. Profits go to owners, shareholder or are reinvested in the company.  Marketing KPIs have to ladder up to either  revenue or profits to show their impact on the business and its ability to grow.

Marketing KPIs - Profits

2. CUSTOMER VALUE:Understanding customer value is by far the most important thing you can do to identify ways to grow your business. If you understand the value of your customers you can: 1) Determine which customers to invest in, 2) Identify new customers and markets to target, 3) Agree which product and service lines should be offered and 3) Change pricing and promote to extract more value. Customer Lifetime Value (CLV) is the metric that defines customer value. It can be an intimidating calculation to some. It has a defined formula and is a marketing KPI that is definitely worth knowing.

Marketing KPIs - customer lifetime value

3. COST PER ACQUISITION (CPA): With the knowledge of the value of a customer, the next marketing KPIs is how much does it cost to acquire a customer. Cost Per Acquisition or Cost Per Action is a primary metric for any marketing initiative. It is the cost for a visitor, prospect or lead to take a desired action or conversion. It is one of the key drivers in determining the impact of marketing.

Marketing KPIs - CPA

4. NEW AND RETURNING VISITORS:  If you’ve never compared the data for your new and returning website visitors, I suggest taking a stab at it. Reviewing the statistics about the different types of visitors to your site can help you answer questions like: 1) Are my visitors engaged? 2) Do my visitors keep coming back to me (my website) for more information? The primary place where new vs. returning visitors can be found is the Google Analytics of your website. Knowing the numbers and the ratio give you the primary information you need to know about growth possibilities for your business and where they are most likely to come from.

Marketing KPIs - New vs Returning Visitors

5. TRAFFIC SOURCES:  In Web analytics, including Google Analytics, traffic sources is a report that provides an overview of the different kinds of sources that send traffic to your web site. They include:

6. MARKETING QUALIFIED LEADS (MQL); A marketing qualified lead (MQL) is a prospect already in your lead-tracking system, who has expressed interest in buying your product and passes a set of lead qualifications in order to progress further down the funnel. Marketing qualified lead definitions are typically used by B2B companies to identify a stage in the buyer’s journey. For example, in order to become a marketing qualified lead a prospective customer may have to have a certain number of employees in their company, be in a certain vertical or industry, or have a certain revenue.

Marketing KPIs - Marketing Qualified Leads

7. CONVERSION RATE: The conversion rate is the percentage of users who take a desired action. The archetypical example of conversion rate is the percentage of website visitors who buy something on the site. Conversion rate optimization is important because it allows you to lower your customer acquisition costs by getting more value from the visitors and users you already have. By optimizing your conversion rate you can increase revenue per visitor, acquire more customers, and grow your business.

Marketing KPIs - Conversion Rate

8. RESPONSE TIME: The length of time it takes for a person in the system to react to a given stimulus or event. In any service business, response time plays a significant role in retaining customers.

Marketing KPIs - Response Time

9. AVERAGE ORDER VALUE: Average Order Value (AOV) is an ecommerce metric that measures the average total of every order placed with a merchant over a defined period of time. AOV is one of the most important metrics for online stores to be aware of, driving key business decisions such as advertising spend, store layout, and product pricing. Even though average order value is primarily used in ecommerce, it is a KPI worth knowing for any business.

Marketing KPIs - Average Order Value

RETURN ON MARKETING INVESTMENT (ROMI): Marketing ROI is one of the terms most commonly used to describe marketing success, sometimes referred to as the holy grail of marketing KPIs. The definition of the ROI calculation must be consistent with the financial definition to maintain credibility with finance. The formula in its simplest form is below.

Does your business measure these Marketing KPIs? Does your business need help figuring them out?

 

10 influencer marketing case studies get to real results 0

Posted on September 18, 2017 by Rob Petersen

sInfluencer Marketing Case Studies

Influencer marketing is the fastest growing customer acquisition channel according to a poll by Tomoson.

  • 88% of customers trust online reviews and recommendations from people they don’t know as much as from friends (Bright Local)
  • 84% marketers have at least one influencer marketing campaign planned for 2017 (Smart Insights)
  • 51% of marketers believe they acquire better customer through influencer marketing (Tomoson)

What are the results driving this interest. Here are 10 influencer marketing case studies that get to the real results.

  1. ABSOLUT: Wants to create awareness and engagement in 8 key countries. They use Brand Ambassadors to create posts for #AbsolutNights. Each post begins the phrase “You know those #AbsolutNights when…” and then a sentence with a beautiful image explaining the content. 225+ posts are created in 8 countries over 17 weeks. They generate a reach of 2,800,000, 65,000 interactions for an engagement rate of 2.34%.
  2. ADDIDAS: Wants to push content to their German sportswear market during Summer Olympic Games in Rio in the first ‘Influencer Games’. For the campaign, Adidas sent 20 popular influencers to Rio. The team includes fashion bloggers and celebrity models – such as Germany’s Next Top Model winner and top Instagrammer, Lena Gerke. In Rio, the influencers producd social media content promoting the Olympics. Over 54 million Germans go on the watch the Olympics.
  3. BEAUTYCON (L’OREAL): Has become an iconic convention and event where the most daring and bold individuals. L’Oreal sponsors 9 macro influencers, each a heavy-hitter in the digital beauty community. One of the top performers in L’Oreal’s campaign is Chantel Jefferies. Known by her 3 million fans for her sun-kissed aesthetic and fashionable outfits, Chantel’s single post found over 225,000 likes, 1,100 comments, and an engagement rate of 15% among these influencer marketing case studies.
  4. BIGELOW TEA: Wants to promote their products, and encourage healthy living. Influencers incorporate Bigelow tea into their content in different ways. Some create original recipes using it, and others turn the packaging into DIY art. Blogger Ashley Thurman, of Cherished Bliss, provides her readers with a recipe to make iced tea with Bigelow tea and lemonade ice cubes. Jess, of A Million Moments provides her readers with a guide to creating beautiful flower pots from the tea packaging. The bloggers manage to generate more than 32,000 blog page engagements for their sponsored posts. Total media value for Bigelow Tea increases more than threefold, and the brand experiences an 18.5% increase in sales.
  5. BONOBOS: A men’s clothing line, wants to promote their Summer 2016 Collection through social media, and digital marketing campaigns. They launch, among these influencer marketing case studies, the #BetterThanAC campaign to promote the idea that the new Bonobos collection is designed to keep men cool. To leverage this campaign, they work with Foster Huntington, an influential videographer and photographer. The influencer creates several posts showcasing Bonobos clothing in the midst of outdoor summer moments. The campaign yields 5.1 million impressions, and more than 68,200 engagements in the form of likes, shares, and comments.
  6. IKEA: Launches their first influencer campaign for IKEA Germany with YouTubers. The brand hopes that stars’ fans would respond positively to the social content. Celebrity YouTubers from Germany – including Klein aber Hannah and beauty guru Sara Desideria – set an interior design challenge by IKEA. Their task is to transform a blank canvas into a stylishly decorated living space – all within their 180 minute time limit. The vlogs capturing these challenges were uploaded to YouTube, where they quickly gain over 300,000 views and received thousands of audience engagements.
  7. HULU: Wants to promote their new show, “Casual,” and reach their existing audience, as well as the audience of  Thrillist, a men’s digital lifestyle brand among these influencer marketing case studies. They need someone influential to get the word out. So they decide to work with TV personality Andi Dorfman, who previously starred in, “The Bachelorette.” She is invited to the show’s event premiere. She then entices her social media fans with images from the event, through which she shared her experience. Her posts include hashtags like #keepitcasual and #casualonhulu to promote the new show. These images and other images from the event are then added to a landing page on Thrillist. Through just one influencer, Hulu is able to reach more than 1.3 million people. The influencer’s content generates high levels of engagement, with over 13,000 likes, 81 comments, and 96 shares. Andi’s appearance at the event helps build hype for the new TV show, enabling Hulu to achieve their goal.
  8. LEESA.COM: The direct-to-consumer mattress company, Leesa, wantes to win the trust of their target audience through unbiased reviews. Since they only sell online, online reviews sre the best way for the company to prove that their products are worth the investment. They work with influencers who could generate high levels of engagement. To find the right influencers for their campaign, the brand focuses on follower engagement rates rather than number of followers. Blogs like Sleepopolis review the mattresses from Leesa, and provide their readers with their unbiased reviews, The bloggers also provide their readers with a coupon code to help them save money on their purchase. Leesa was able to drive more than 400 mattress sales, and 100,000 clicks to the brand’s website.
  9. NORDSTROM: To promote its Anniversary Sale, Nordstrom partners with 22 Instagram influencers to create 46 sponsored posts on Instagram. The vast majority of the influencers involve were millennial females with fashion-focused feeds. They range from up-and-coming fashion Instagrammers with around 100,000 followers to some of the most well-known fashion influencers in the industry. The Instagram influencer campaign has generated 1.1M likes and 10K comments, with a total engagement rate of 6.3%.
  10. PEDIGREE: Wants to humanize their brand by standing up for a cause. The brand runs, “Buy a Bag, Give a Bowl,” campaign to support a national effort, and amplifies it with the help of influencers. The influencers promote the campaign through their social media content, blog posts, and video content. Influencers like Kristyn Cole help promote the campaign on Instagram by sharing touching stories about their pets to appeal to their followers’ emotions. The campaign helps Pedigree increase their total media value 1.3 times, and generates more than 43 million impressions, and 62,800+ content views. The campaign drives 9,300 blog page engagements, and helped Pedigree win the love of their target audience.

Are you convinced from the results of these influencer marketing case studies? Does your company need help with influencer marketing?

 

 

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