Marketing is more focused on metrics than ever before, and at the same time produces lots of data and numbers. But those who want to use the numbers to monitor and measure their activities quickly find it difficult to keep track. The solution: KPI dashboards help, because they bundle and visualize key figures. But how much does something like this cost? We’ve taken a closer look at this aspect of our KPI Dashboards market overview for you in this article.
The clock frequency in online marketing has risen sharply. This applies to both the number of measures and the number of channels on which companies are present. At the same time, corporate expectations of marketing departments have risen, especially when it comes to measurability and ROI. Budget allocation according to the watering can principle has never been good, today it is fatal. Because there have never been so many bottomless barrels out there into which unlimited budget can be sunk. If you don’t pay close attention. Good monitoring of measures is now mandatory and – let’s be optimistic – has long been part of everyday life for marketing managers. But with the number of channels, campaigns and measures, the complexity of this monitoring increases and it becomes more and more difficult to get an overview. This is where KPI dashboards can help. Because instead of clicking through the reports of the various channels or consolidating reports in Excel constructs yourself. In our market overview, we have compared 11 providers of such dashboards for you. The individual solutions differ in the scope of services, and connectivity, as well as many other points. Also in the pricing approach. But what does it actually cost? And what is the pricing logic behind it?
Ongoing costs for KPI Dashboards
Before any costs are incurred, there is good news: in most cases, you can test the software for free. This option is offered by 80% of the providers in the market overview. However, the running costs for KPI dashboards are quite different. The range here is from 25 euros per month to 850 euros per month. The average value here is 340 euros. However, these figures only reflect the absolute minimum costs. Depending on the provider, the costs depend on various factors or increase accordingly. These factors are for example:
- Number of users
- Number of data updates per month
- Number of dashboards
- Number of business units
- Is the solution desired as a white label?
- Number of data sources
- Service level
There are also significant differences in the minimum contract term. For a few providers (2 out of 11), this is only four weeks. For four providers, an annual contract is required. In one case, the minimum contract term varies from four weeks to 36 months, depending on the setup.
Costs for implementing KPI dashboards
But before ongoing operations comes implementation. KPI dashboards must fit into the software and channel architecture. Those who do not have their own in-house IT development capacity usually resort to an external partner. Here, of course, the costs vary depending on the partner. But most providers of KPI dashboards also offer an implementation service. The cheapest provider in terms of implementation is 1,350 euros. Another provider charges up to 50,000 euros for this, but this then applies to very complex projects.
Once you have decided on a solution, you naturally want to start using it as quickly as possible. As a rule, KPI dashboards can be used very quickly. With most solutions, this is already the case immediately or after a few hours. Only two dashboards require a bit more patience (up to 14 days).