When developing a dashboard, it’s crucial to focus on visualizing key metrics that align with your business goals while also enabling you to track and analyze the results of your experimentation efforts. This helps ensure that your decisions are based on data and past performance, allowing for continuous improvement. Here’s an expanded list of the most important dashboards to include:
LTV vs. CAC:
Compare Customer Lifetime Value (LTV) with Customer Acquisition Cost (CAC) to ensure that your acquisition strategy is profitable. This is essential for understanding whether your marketing efforts are driving long-term value.
Retention and Churn Rates:
Monitor customer retention and churn rates to assess customer satisfaction and loyalty. Keeping track of these metrics over time helps you identify patterns, recognize when there’s a dip in satisfaction, and optimize customer retention strategies.
Revenue Growth:
Track revenue growth to see how well your business is scaling. Use this dashboard to understand trends and how specific marketing efforts have impacted overall business performance.
Channel Performance:
Analyze Return on Ad Spend (ROAS), conversion rates, and traffic by channel (e.g., paid search, organic, social) to identify which channels are driving the best performance. This dashboard helps you allocate resources to the highest-performing channels and refine underperforming ones.
Experimentation Results Log:
Keep a log of past experiments along with their results and estimated impact on key metrics. This dashboard tracks:
- Experiment goals and hypotheses.
- Test results (e.g., conversion rates, lift in sales).
- Estimated long-term impact.
- Learnings and action steps post-experiment.
This dashboard helps you recognize what has worked best in the past, facilitating better decision-making for future tests and overall business strategy.
Incremental Impact Dashboard:
This tracks the incremental lift of individual experiments and incremental revenue driven by marketing activities. It isolates the true impact of a campaign or experiment from other influencing factors, helping you understand the incremental value of each effort.
BowTie Dashboard:
The BowTie framework is used for tracking customer lifecycle performance. It focuses on understanding the full customer journey—from acquisition through retention and expansion. The BowTie dashboard includes:
- Acquisition metrics: Conversion rates from leads to customers.
- Expansion metrics: Revenue from upsells, cross-sells, and product adoption.
- Retention metrics: Churn and retention rates over time.
This dashboard gives a macro perspective on the entire customer lifecycle and helps identify opportunities for improvement in different stages.
Macro Experimentation Overview:
Visualize the overall impact of your experimentation program from a macro perspective. This dashboard should provide:
- A summary of all experiments running at the moment.
- The status of experiments (ongoing, completed, or pending).
- Cumulative impact on revenue, customer acquisition, retention, and satisfaction over time.
- Insights into long-term patterns of successful experiments and scaling opportunities.
Attribution & Cross-Channel Impact:
Track attribution models to better understand which marketing efforts are driving conversions across channels. This dashboard helps you view the combined performance of multiple channels, such as paid, organic, email, and social, and attributes credit to the channels that had the most influence in the customer journey.
Efficiency vs. Scalability Dashboard:
Compare the efficiency of current strategies (e.g., cost per acquisition, ROAS) versus the scalability of those strategies. This will help you identify which marketing channels or strategies are both scalable and efficient and which ones are not delivering the expected long-term impact.