Business Intelligence: How to choose better strategies for your business
The digitization and automation of processes is a reality today. Almost all companies have several processes integrated into a CRM that helps them manage them. Technology makes us more competitive, so Business Intelligence is something necessary to improve processes and decision-making in companies.
Before I start I would like to ask you Can anyone think of a sales department without having a CRM? Have you ever come across a company that is keeping accounts with paper and pencil?
If each department of the company works separately, it will not be able to evolve or improve its results. Interestingly, it is the digital marketing department , which does not yet have strong software to help you digitize your processes.
In addition, it must be taken into account that within digital marketing there are a lot of metrics , KPIs , reports, data, tools ... etc. As a consequence, most data is scattered and not having it in a single tool often makes it difficult for us to make good decisions.
How Business Intelligence helps you make better decisions
There are several factors that come into play so that your online marketing decisions are successful and you achieve your brand objectives . These are some of the keys are:
Define your target audience
To mount a good strategy it is essential to determine who our audience is : who we want to target. If we segment and are very knowledgeable of who our audience is, we can have better results.
► Anonymous users who enter my website. To reach these users I can apply SEO tactics, SEM ( Google Ads Campaigns ), work on social networks, branding.
► Known users To connect with users, we must know them better (name, surname, email), how they relate to your brand (level of engagement, participate in your social networks, etc.). Little by little, the leads will stop being cold and become Hot Leads.
The objective is to introduce them in the consideration phase of my product or service. At this point, you can give them one last push, with an exclusive proposal , a discount coupon or something that makes them feel special because they are very close to the purchase.
Define your objective target: Anonymous users, acquaintances and clients.
► Customer: At this point, we will have invested a lot of effort and money. They have bought us once, what interests us to start obtaining profitability, that they reach X-SELL.
In other words, they buy from us again because they have had a good experience with the brand, they liked the product or service, and therefore they want to repeat. When they are at this point it is very important that they recommend us , leave testimonials, or evaluations.
Get good software
To carry out all these automation or digitization tasks we need to have a Software. Some of the most recommended are:
► Mautic: It is or open-source , it uses open source technology. Like WordPress, you can install it on a server and start using it. Zero cost and has the support of a community that is generating modules. It allows modifying some functionalities.
► Hubspot : Very advanced functionalities, is a developer and marketer of software products based in Cambridge Massachusetts. It offers a complete suite of marketing, sales and customer support tools for businesses of all sizes. High cost. It is also known for very advanced email automation features
► Marketo: Very advanced functionalities, it is also a marketing automation software focused on account-based marketing, which includes email, mobile, social, digital ads, web management and analytics.
How can these softwares help you?
This type of software is specialized in automation marketing. Its first objective will be to generate a database of leads with all the cookies that are visiting your website. It will collect data from those sites where a cookie can be placed (landing page, ecommerce ...)
► This way you will have the same cookie throughout your online presence, then a list will be generated with all the data and work with all of them so that they are identified and qualified users.
► The ultimate idea is to link everything to your CRM: the data, what users prefer to do within my website, the interaction with online platforms, etc. If everything stays within the CRM, it will be a help tool for your commercial team or other departments.
► Another of the great advantages is that it will serve to measure ROI , since the interesting thing is to know what works and what does not, where you are putting the money and where you are getting the return.
Lead recruitment and qualification
Our immediate objective will always be to identify the lead. For this we have a lot of cookies that we have been saving within this database of this software.
A basic option of inbound marketing is to generate a lead magnet to capture the user's attention. We can, by configuring some type of software such as those mentioned above, show our users a pop-up or invite them to download a whitepaper or an ebook.
In other words, we generate a hook, something that interests them, that generates value and for what they want to offer their data in exchange. Ebooks are one of the most common resources when it comes to capturing leads or customers online.
Offer a hook, something that adds value or interests the user to get their data
We will then be in the part of the customer journey that is pushing this audience from being anonymous to known users . You have to define a campaign with the form already completed, so lead is not only a cookie but it already has a name, surname and email.
Then I pass these data to a list. This action is carried out automatically because it has been previously configured, and also an email is sent welcoming you .
This first part is that of identification, we want to know who they are. The second part would be the qualification , because I not only want to know the email but I also want to know what your interests are:
Suppose you have a sports store and want to send product promotions. Part of the audience that is visiting the website will be athletes who play basketball, others will do soccer, swimming, sky ... etc.
If you send offers of all products to all your users, you will be spam.
Therefore, if we have previously asked users what sport interests them and we classify them, when doing my email marketing campaign through autoresponders I can send more personalized newsletters that respond to those interests.
All the actions that the user performs are registered in the CRM, in the different sources where I have that cookie:
- The first time you entered
- If you opened the mail
- If I have sent you an SMS
- All that is necessary
With an omnichannel software , you can send sms, emails, modify the content of my website, so that users who want basketball products get products from this category. We do everything from the same platform and all the information is collected there.
Step by step to convert a user to lead
► We collect all the information through cookies
► We discover their behavior as they interact.
► Segmenting according to preferences.
► Create activity history.
► We use segments with labels to add users to different lists.
With all this information we will get better drip marketing campaigns and create newsletters that better suit the needs of the user and our brand.
✔️ Custom Mail
✔️ Defined campaigns
✔️ Pop-up depending on when they are making the decision.
This type of software allows us to carry out very powerful campaigns and design proposals for actions to be carried out within the program so that they are automatically triggered from the user's actions.
- Baby Cars Campaign
- First Purchase Campaign
Campaign Goal: We want to sell baby strollers. In this type of campaign to sell products to people who have just had children, we must know that KeyWords are very expensive.
We will have to raise them with some advance, what we do here is:
► Generate content from the third month of pregnancy (how they feel, tips to announce the pregnancy to loved ones, etc.)
► I place the cookie in the third month of pregnancy.
► We know that this person in 6 months will buy a baby stroller and I did not have to do PPC to get there, we have already located that user.
► We have this entire period to empathize with that person and generate useful information.
The campaigns have to be focused on the client, and as they give us their information, we can send them an email, we can give them points, see if they visit another specific landing, etc. We go with the users, and I measure.
How to qualify a lead
When we detect that the user has already made the purchase, we take that entry and place it in our database as an " active customer ". We update the information of that lead with the new data that it has left me in the purchase process.
All the information of what is happening online is collected in a single automated and centralized site . From here we can send you exclusive product promotions that take you to a second purchase.
The objective of all this is to qualify the lead . We want to know if you interact with our brand, what your interests are and have a lead scoring that allows us to detect top users with whom to establish special relationships or those leads that are ready to be sent to sales.
How to link to CRM
When considering this type of Software, we have to take into account what functions it offers. Depending on the action you perform, we can give or take points from you, in order to achieve a scoring that allows us to order all those visits (cookies) that are more interesting with what we are generating.
Furthermore, when we do this digitization, we have to take into account whether the purchase is compulsory or consultative , where the decision cycles are much larger.
Here automation marketing can help us a lot because while the user is making this decision, we continue to interact with him and so he does not forget us.
The scoring led us to a database score. We can implement and trigger concrete actions of the link with the CRM. When someone reaches a certain score then it may be the right time for that lead to automatically generate an email to the salesperson saying "you have to call this user"
The importance of measuring
Measuring is the great difficulty that we often have with everything related to online marketing. We have a lot of data:
✔️ Analytics to measure any aspect of my website.
✔️ Mailchimp to measure my mailings.
✔️ The analytical platforms of Social Networks .
I have all this information in different worlds because they are different tools, so I cannot have that global picture of all the information that interests me in order to make better decisions. We do marketing for:
✔️ To find out which campaigns work best and at what price.
✔️ To know when a lead is ready to call you.
✔️ To give the lead a discount coupon that interests them at the right time.
What we often try is to apply attribution models associated with the click, the first click, the linear, time decay ... etc. in the end the important thing sometimes is not the numbers, it is the trends .
With the numbers, we can know if something is going to be better or worse, but if we make a bad attribution of the origin or direct ignorance of what campaigns have brought the lead, we do not have 100% of the information.
In short, Marketing Automation allows us to explain the effectiveness of campaigns in commercial terms because we are going to digitize our entire customer journey , transferring everything to this software, creating the stages that will be the states in which my cookie is.
Customer Lifetime Value
Many times we have to demonstrate with data our marketing work from a commercial and monetization point of view. Sometimes the marketing department is out of step with the commercial.
To the commercial department we have to give the information of the leads, take the information we have from each of the users to the CRM. Thus, when the salesperson calls, he will know everything the user has done on our website.
With this type of software we have everything tracked. The commercial can see each of the steps that the user has performed. In addition we can do an analysis of the monetization since the client was a cookie and, therefore, we can focus on the marketing actions that give me better results.
In short, those who focus campaigns on volume over quality reduce business effectiveness, increase campaign costs, and increase the gap between marketing and sales.