The Scoop: Insights in Performance Dashboard
May 19, 2020
What’s new in Performance Dashboard?
Earlier this year, 4C launched Performance Dashboard, which helps you understand your brand’s campaign performance holistically across channels, audiences, and initiatives. To help make this data more actionable, we’ve now rolled out Insights in Performance Dashboard. Insights surface recommended campaign adjustments based on current performance metrics, with recommendations like budget adjustments for specific creatives and audiences based on performance and spend.
Why are Insights in Performance Dashboard important?
While Performance Dashboard has always shown campaign performance across channels and audiences, it previously still took a little digging to understand actions that should be taken based on these metrics. Now, with Insights in Performance Dashboard, specific optimization recommendations are available at-a-glance. Insights are powered by a machine learning algorithm that compares your highest and lowest performing ads, and places them in four categories: Draggers (high spend, low performance), Drivers (high spend, high performance), Sleepers (low spend, low performance), and Opportunities (low spend, high performance). For example, in the Creative tab, a creative classified as an Opportunity is driving high performance compared to the average of your selected KPI, but has little spend relative to the average for all of your creatives. It is recommended that you allocate more budget to Opportunities to improve performance.
How do I get the most out of Insights in Performance Dashboard?
In order for each of the available charts in Performance Dashboard to populate, you need to leverage Labels in your campaigns. We recommend creating Labels for topics such as audiences, creatives, reporting groupings, segmentations, lines of business, or parts of the funnel. To ensure you’re leveraging the most important data, you should also create Global Custom Metrics based on your key KPIs. With the ability to filter data based on 3 KPIs, the dashboard makes it easy to compare how an Audience, Creative, or Label is performing against multiple metrics. Using Global Custom Metrics, you can view your brand’s individual cross-channel success metrics alongside key creative, audience, and label-based insights.