The main purpose of business intelligence is to analyze large quantities of data – both quantitative and qualitative – in order to get an in-depth insight about your customer’s thought and behavior process. It also helps you identify potential customers and where to find them, based the data extracted from your existing customer base. This system is particularly useful for online marketers since they do not make face-to-face contact with their customers and is vital in understanding who their customers are. James Williams, a digital marketing manager at Wonga South Africa, provides the following business intelligence strategies to help you understand why your customer acts in a particular way and how to change your products accordingly.
The dashboard
A business intelligence software dashboard keeps you informed about the progression of your business. This overview about your organization is not only easy to understand, but it is also shareable. You can view information in any form including charts and tables. This data can be compared with the company’s previous performance rates or even with the performance rates of rivals in order to get an idea about the business’s current position.
Predictive analytics
Through this tool, you will be able to acquire information that will predict the future trends in your industry. By knowing them beforehand, you will be able to make appropriate changes that will enable you to make the best out of the situation. For example, such information can be valuable for the production team since they will be able to manufacture products that will suit the customers’ future requirements. By offering the customer what he/she wants and meeting their requirements, you will be able to increase your ecommerce SEO and traffic towards your website.
Marketing technology integration
Customers use a variety of devices and platforms to research and discuss about products. The core purpose of marketing technology integration is to ensure that the customers get a unified idea about the brand and its products through all these devices. This means that you have to work with your digital marketing agency to ensure all online and digital marketing platforms including social media sites and email marketing campaigns spread the same message. By having control over all online marketing mediums, you can ensure that the customers do not get any negative information about your brand or its products.
Social analytics
These tools can be divided into two categories. Web analytics analyze browsing behavior of the customers and gives you statistical information about their actions. Social media analytics examine customer behavior on various social media sites such as Facebook and Google+ and offers deep insight about the reasons behind a customer’s actions. For example, an unhappy tweet about your product can reveal what you are missing and what the customer’s actual expectations are. Instead of studying customer behavior and actions, this strategy gives you the opportunity to understand customer opinions.
By utilizing these business intelligence techniques and information, as an online marketing company, you will be able to initiate precise targeting and implement techniques that will result in greater organizational productivity and a higher bottom line for your company. With stiff competition an “intelligent” approach is the best way to go.
