How Business Intelligence can benefit your sales and marketing
Be it the right online platform for marketing campaigns or how to target online customers with the right promotional message, data continues to influence decision making in sales and marketing strategies.
Business adoption of cloud-based business intelligence tools in 2018 has doubled from its 2016 levels, with 90% of the marketing teams depending on cloud-based business intelligence (or BI) to complete their work in 2018.
Why is Business Intelligenc e so important for business?
Business benefits of business intelligence: • Analyze consumer buying patterns in order to develop products or services that match current consumption trends. • Provide visibility into which products are selling the most in the market or to identify areas of improvement for low-selling products. • Use meaningful data to manage your sales/marketing processes and identify potential selling opportunities.
• Improves overall organizational efficiency through shared information that can improve productivity and save time. • Increase sales performance and conversions by analysing customer interaction data with your business through the Customer Relationship Management (or CRM) tool. • Acquire competitive intelligence through marketing insights used by your competitors and plan future actions.
How Business Intelligen ce has transform ed marketin g and sales?
Business intelligence software tools like Tableau and Microsoft Power BI are not limited to be used by data analytics expert but by any non-technical user. BI tools like the SAP Business Intelligence provide real time business intelligence through predictive analytics and machine learning.
Business Intellige nce in Marketin g
Pose the right marketing question
Define and target the right demographics
Simplify marketing and business reports
Busines s Intellige nce in Sales
To make more sales to existing customers
Make your sales forecasts more accurate
Measure the success of your sales promotional campaign
Conclusion As discussed in this article, effective business intelligence for sales and marketing can go a long way in analysing customer behaviour, determining the right sales and marketing channels, and in making accurate sales forecasts.
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