Dashboard Workshop

Dashboard: Overview

The Dashboard is perhaps the most important component for a business as without it you are operating blind and all other aspects rely on the ability to track the results of your efforts. Much like a vehicle dashboard that provides real time that is critical for safety and awrareness. Imagine driving your car without a speedo, GPS, oil temp guage, tyre pressure sensors or fuel guage. That journey would be difficult and potentially dangerous. Therefore running a business without knowing key performance indicators (KPIs) is dangerous for your business as you could be missing important information that could lead to catastrophe. An example of this would be running paid ads but not tracking the return on ad spend (ROAS) You might be getting more sales but for what cost and from which ad? Not only is this incredibly ineffecient it’s also the fastest way to burn money. There are many examples of this and it never ceases to amaze me how many businesses don’t even do basic tracking such as website analytics. Don’t make this same mistake, below I will outline the KPIs you should be tracking, how to set them up and how to interpret the data.

WTF should I do

The first thing you should do is find out if you have any tracking already set up as that will give you historical data to start with. Luckily things like social media business accounts and some website platforms have this built in. The key one to track is your website analytics so start there, ask whoever built your website for access to this. The preffered platform is Google Analytics, if the you don’t have this on your website look for another website designer. 

Why should I do it

You should do this so you can make quick informed decisions within your business by taking any guess work out. Fortunatley we live in a world where huge amounts of data can be collected for free or very low cost. This makes business much easier as the data doesn’t lie. 

How to do it

Step 1. Access your Google analytics or set it up now. 
– Set up instructions
– What to look for in your website analytics

Step 2. Set up the below KPI’s for your business:

CPC
CAC
LTV
AVG order
SALES
Sales by source
Traffic sources
SEO ranking

View the full list of metrics, why you need them and how to set them up here it also shows industry benchmarks to see how you are doing. 

Step 3. Set up your central dashboard:
Use my tool or something similar. 

Step 4. Set up automatic reporting and review regularly with your team. 

Step 5. Make decisions based on this information, implement changes and then repeat the cycle.

How AI can help: Use the chatbot to help with setting up or understanding certain metrics. 

The result

A central source of truth that allows you to operate at speed and confidence. Sack off stuff that isn’t working and double down on what does.