How analytics can resolve critical marketing problems !
Marketing isn’t easy !
As marketer you’ll come across numerous problems that you’ll have to deal with on daily basis and find solutions !
Marketers have to find new audiences, engage them with creative ideas, test out new concepts, justify their budgets, and defend their efforts from the onslaught of often unhappy sales teams.
Campaign planning and customer data gathering can be very time consuming .You might get stuck while making strategies. Taking important decisions regarding campaigns is also difficult if not enough data is available or if it’s not well organized .
Answer to all of the above problems is using Analytics!
Data helps in making sound decisions and even settle arguments and makes marketing bit easier .
Before analytics, many entrepreneurs and small business owners loved the ease of using spreadsheets. From recording and managing daily expenses, operations management to forecasting business growth, they used spreadsheets to manage numbers which are critical for running a business.
Marketing analytics tools are used by companies to deal with the increased complexity of requirements generated by the rapid growth of organizations. To have better control over key business levers, organizations moved from spreadsheets to various software applications.
They measure and optimize the performance of their digital marketing efforts.They use channel-specific analytics to get insights into every channel. Email analytics is used to optimize email marketing campaigns whereas social analytics is used to measure the ROI on social media marketing efforts, and so on.
Although such strategy provides very good insights, it is an unsustainable, costly affair for a fast-growing, complex business that operates in a dynamic environment because multiple tools end up creating more problems than they solve.
Using right analytics tools will not only reduce marketing costs but also help in tackling the following problems that modern businesses face:
1. Uncertainty
Today, the success of a company largely depends on its ability to deal with the uncertain external environment.
The fast-changing economic conditions and changing consumer preferences require companies to prepare for multiple outcomes .
Advanced analytics applications evaluate the inputs and analyze the past results to find predictable elements of an uncertain environment. Businesses can work on these high-influence predictable elements to innovate and make decisions that help them mitigate the risk of uncertainty.
2. Lack of customer loyalty
The importance of selling to existing customers is huge in any business set up. New client acquisition is necessary for the survival of the firm. However, customer retention and loyalty are critical for accelerated and predictable revenue growth.
Research suggests that 60–80% of the satisfied customers don’t buy again from the companies that initially satisfied them. Companies can’t overlook these statistics.
3. Marketing to new customers
The continuously changing marketing conditions and competition have led marketers to think of new ways to reach the target audience.The right analytics software analyzes present and past to make a few predictions.
But there is no substitute for listening, awareness and detecting events as soon as they unfold. Marketing analytics enables your sales and marketing teams to act quickly and decisively. In the process, you not only make significant savings on the marketing budget but also boost the return on marketing investments.
4. What content to be used and what are the words that will resonate with customers ?
Before keyword search it was gut feeling of focus groups ,which was time consuming and costly. Today’s huge online data about keyword traffic and website behavior shows marketers what is really driving behavior. Search and analytics are no replacement for talking to your prospects and customers, but you can get a lot more efficient and targeted with keyword analytics.
Before you create your next ebook, blog post, or even email campaign, be sure to check out your and your competitors’ traffic-driving keywords. Doing so will give you the insights to enable you to create more compelling content that focuses on the keywords and topics your target audience wants, thus attracting more of the right prospects to your site.
5. Don’t know where to start and what will have the biggest impact?
Closed-loop analytics will analyze your sales and marketing funnel to understand what’s coming in at the top and the fallout at each stage along the way to help you identify the ‘leakiest’ parts of the funnel so you can start to fix it there.
If you have stellar website traffic but only 0.05% of it converts into a lead, and leads close at a 50% rate, you’ll pretty quickly know that you need to work on that first conversion and investigate why your offers aren’t resonating or if you’re driving the wrong types of traffic to your site.
Now that’s a simple example, and most funnels are more complex. But no matter your process, in order to do this, you need your analytics to integrate with your CRM system so you can map that funnel all the way to the end.
6. Don’t know how to evaluate social media ?
Marketers need to take a look at social media stats.Marketers know they should be participating in social media . But so often, it’s hard to justify why . Not only can marketers use traffic analytics to show the volumes of traffic coming to their site from social media, but if they are using integrated marketing tools, they can also measure leads and even customers generated from a specific channel like Twitter, LinkedIn, or Facebook.
Mapping dollars and cents to social media campaigns makes it a lot easier to invest in the best social media channels for your business and spend less time on those that aren’t generating marketing results. Even without sophisticated tools, you can use customized, short URLs and specific landing pages dedicated to your social campaigns to track their results.
7. Sales
Sales and marketing managers have disagreements when they miss team quota .Sales guy thinks marketer hasn’t given him enough high quality leads .Marketers feel sales guys didn’t work on leads fast enough.
In the world of analytics, there is less room for this type of arguments , because data helps to tell the real story. Creating and maintaining a service level agreement between your sales and marketing departments and then measuring which type of leads based on lead scoring, were generated and how many and quickly they were touched by sales is easier than ever.
The right analytics application presents a picture of your marketing efforts, guides executives to make decisions that are more likely to succeed. It tries to solve the critical business problems using data and statistics which otherwise go unnoticed or settled based on gut feelings of a few influential people in the organization. It also helps customers as well as companies by enabling businesses to find out product refinements that add more value to the buyers.
With some careful implementation of marketing analytics tools, you can turn your organization into a data-driven marketing machine !
‘Helo Analytics’ is a product of ‘Helo Marketing’ which is run by VivaConnect. It will help you with SMS campaign ,it will give you estimate of how many messages you need to send to get required number of clicks and cost for it .Helo analytics will show you numbers at real time on dashboard and will give facility to customize your own template to schedule SMS campaign .
Join hands with Helo Marketing .We will help you to reduce marketing budget by 25% and increasing ROI by 1.5 times .
For more information visit website or call on +91 83 83 83 83 99 .
