The marketing scorecard (also called Marketing Dashboard) is a reporting approach that aligns marketing outcomes with business objectives. Typically the marketing dashboard will contain more than just financial aspects of the marketing function and include a rounded view of the marketing function that includes both lead indicators and lag indicators.
To be effective the marketing dashboard must link with the organization’s higher level business goals otherwise it may be perceived as irrelevant to the senior management.
The most well known general scorecard is the Balanced Scorecard made famous by Kaplan and Norton. Their approach includes four quadrants named:
- Financial: how well are we performing to our financial targets
- Internal processes: how well do we perform our internal processes
- Customer: How well are we improving customer value
- Learning and Growth: How well are we learning and innovating.
We suggest that organization use a similar set of quadrants for their marketing scorecards.