Business intelligence (BI) helps in data collection and analysis. It can seamlessly process a large amount of data and generate analytical output. BI provides market insights for enabling an organization to make timely strategic decisions. It, therefore, helps in improving operational efficiencies.
In the current world of digitalization, digital marketing promotes a business through an online medium. It supports an organization to reach out to its potential customers digitally. Various methods of digital marketing include content marketing, search engine optimization, search engine marketing, etc.
Using business intelligence in digital marketing helps collect consumer data to understand consumer trends and behaviors better. It helps in meeting the varying customer expectations while translating the marketing efforts into new sales and loyal consumers.
You can streamline the marketing efforts and expand your reach in the market, creating better brand visibility. Business intelligence can surely help in understanding the latest trend, as illustrated below:
Understanding the Behavioral Changes
The social media platform is a key place for understanding consumer preferences. Digital marketing helps an organization connect with existing and potential customers on various social media platforms.
The customers typically express themselves by liking or disliking a particular post, uploading comments or feedback, and forwarding or tagging somebody in a post. This gives voluminous information, which can be of great help in formulating advertising strategies.
Business intelligence can support collecting and analyzing data to derive an understanding of current and expected trends, customer sentiments towards a particular product, his or her expectations, and the anticipated response to a product launch. Business intelligence in digital marketing helps track customer trends, which, in turn, facilitates an organization to create or alter its marketing tactics.
Working without Assumptions
The current technological advancement leaves no room for assumptions. With business intelligence, you can derive the reason behind the fluctuating online traffic. You will be able to understand the cause of change in consumer acceptance towards your product, which helps in devising remedial strategies. Moreover, the effect of each marketing campaign on the top line can be tracked and scrutinized.
Business intelligence gives detailed reviews like the quantum of new sales, customer type, age group, and geographies contributing to increased transactions. The benefits of a promotion campaign can be easily quantified and justified.
Consumer preferences have always been subject to change as they are influenced by various factors, such as reviews and feedback posted by other customers. With the ease of accessibility to social media, a consumer carries out some basic research before purchasing any product.
Hence, data gathered from the online platform lacks stability as it is prone to constant change.
It becomes essential to have real-time data for timely review and revision of the marketing policies. The organizations can thus review the analytics of its products and decide on the social media platform requiring more attention, which also helps in a better allocation of the advertising budget.
An organization can thus review and know the response to its marketing campaigns on all social media platforms.
Emailing the Trend Setter
An organization can use e-mails more effectively. With the help of business intelligence, a company can examine and know about personalized customer behavior such as the kind of product that the individual is looking out for, the type of content that can grab his attention, etc.
Moreover, it determines the perfect time for releasing the e-mailers to deliver the needed information with customer delight. Thus e-mails, when used efficiently, can help in connecting with a potential client at the correct time.
Right Product at the Right Time and Best Price
You may predict how the customer may respond based on the analysis of huge historical data gathered from multiple sources. It is essential to know about the current customer requirements and expectations.
Understanding the value of money from the client’s perspective also helps in offering competitive pricing. You can retain the existing customers by catering to their demands and needs in the best ways.
Further, real-time knowledge of customer sentiments helps an organization create discount models and other freebie schemes. This facilitates the onboarding of new customers while winning their loyalty towards the product.
Digital marketing is the best tool to reach a larger clientele base. Business intelligence helps in having a more structured approach towards targeting the right set of customers through a timely response to the ever-changing demands. Combining both can render excellent results for your marketing and branding strategies.
Using business intelligence in digital marketing, an organization can understand the latest trends and make suitable marketing strategies for expanding its customer base.