How CMOs can leverage marketing intelligence powerhouse to improve their marketing ROIAdmin
The Reasons Behind Data Disarray
We are constantly creating humongous amount of data each minute. Let’s look at some stats to understand it’s magnitude. We send 156 million emails every minute and make 154 thousand calls on Skype.
Yet, with so much information, only 53% of companies admit to making decisions based on data and analytics.
The problem lies not in the data itself but happens when data is all over the places across various business units and represented in different formats. So, majority of data remain unused and ultimately leading to data chaos.
And Marketing intelligence is the holy grail to all the data related issues.
How Marketing Intelligence Revamps Data and Defeats Data Chaos
Let’s now understand how marketing intelligence could put an end to the chaotic situation brought on by bulky data.
1. Transforming raw, disconnected data into the holistic view of the market
Only with an orchestrated dataset can a company gain 360-degree view of the market. Be it building complete buyer personas based on real-time customer data or analysing a channel’s performance swiftly, marketing intelligence is the brain behind the effective utilisation of discorded data.
2. Drawing out insights with regards to specific sales or marketing campaigns
Collating all data in a single place aids to crack open any initiative into the smallest component, analyse at a granular level and identify what drives the highest performance.
3. Providing valuable insights to drive business decisions
Important business decisions like entering a new market, product development, competitor analysis, could easily be implemented when data can be summarised and visualised
4. Refine campaigns through real-time optimization
With powerful real-time and actionable insights at hand, marketers can better gauge what works and what doesn’t.
Marketing intelligence is an outstanding weapon which can be deployed to tweak ongoing and future marketing campaigns to maximise ROI.
Marketing intelligence is a process of collecting, transforming and harmonizing the information relevant to a particular business problem at hand.
With growing data, organizations begin to suffer from data chaos. They are losing control over data from variety of sources. As a result, only a few are capable of putting data to right use in analysing their entire marketing ecosystem.
But while others say if there is a will there is a way, we say marketing intelligence is the only way to overcome data chaos. Organization must implement marketing intelligence to collect, store and manage its information in a single data warehouse.
Want to have control over your organisation’s dispersed data sets to make better business decisions? How about turning to marketing intelligence to visualise the change in your organisation’s ROI? To learn more, please get in touch and our experts would be glad to help.