A marketing intelligence platform is a smart investment you need to keep up with the competition in digital marketing.
This is a new labyrinthine world for digital marketers to explore. Someone drove by connection and intelligence. If the launch of smartphones on the playing field was monumental, there are still many interruptions. Cause? Data, immeasurable treasures.
Consider these statistics. Every minute on the web, Google records 3.7 million searches, Facebook has a million hits, and YouTube streams 4.5 million videos. The world spends nearly $ 1 billion on online products every 60 seconds. 500 million tweets are sent to Twitter every day. All of these actions and activities contain profitable information that helps marketers better reach their target audience. But where do modern marketers start with their analytics, with so much data to access and act upon?
The answer lies in marketing intelligence platforms.
What are marketing intelligence platforms?
In essence, marketing platforms are systems for consolidating and improving data. They provide all the integrations that businesses need to process data, be it web analytics, business intelligence systems, back-end databases, advertising platforms, call centers, etc. What makes these solutions so important today is the ability to capture all relevant marketing data in one place and their ability to drive growth by revealing powerful and practical information in great detail. Rather than relying on an entire team of data experts to process and analyze billions of data points, a marketing intelligence platform can do this automatically and in real-time.
The main benefits of investing in marketing intelligence
Performance insights from every angle. Unmatched visibility of market trends. Full knowledge of the campaign ROI. The benefits of using a marketing intelligence platform are enormous. Here because.
A better understanding of the customer journey
Today’s customer journey isn’t as easy as it used to be. There are countless touchpoints in each of the recognition, acquisition, and conversion stages that can influence and encourage your audience to buy. There’s your website, social media, paid advertising, and third-party websites, not to mention your interactions with radio, television, print, phone, and point of sale. Ten years ago, it was much easier to track audience engagement and understand campaign performance. With the sheer amount of data involved, it’s infinitely more challenging and complicated today. Even if you have the software to track all your interactions by channel, there are still problems with your data in separate silos.
This is where marketing intelligence platforms thrive. With all your relevant data in one place, you have a complete overview of your customers’ specific journey. Once you gain clarity, you can discover a myriad of optimization opportunities that would otherwise go unnoticed if you had blind spots in your tracking system. This is critical when achieving significant ROI and breakthrough growth.
Improved customer experience
This seamless transparency in the customer journey also gives you the opportunity to improve the relationship between your business and your target audience, be it food options, sales, or handling customer service inquiries. Understanding the tactics potential customers like will help you personalize and showcase the experiences they want and expect.
Marketing intelligence platforms can summarize marketing and sales data, so it’s easy to simplify how these two teams work together to improve team alignment. By capturing all of your business and inventory data, you can gain new insights that can improve internal processes and make your business more efficient and useful for customers. You can also analyze it with your CRM data to determine what factors affect retention, customer service issues, and removal. You can then make targeted changes to improve retention and the overall customer experience.