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How To Use Business Intelligence To Boost Your Marketing Efforts

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How To Use Business Intelligence To Boost Your Marketing Efforts

Marketing can be a double-edged sword. If done right, you can reap great benefits, but if there are gaps in your understanding about your target audience or even the messaging, all the investment and effort go down the drain. Business intelligence tools can help you streamline your marketing efforts and make sure that you get the results you’re looking for.

In the age of the Internet, and more so in the age of digital marketing, marketing has become data-driven. And data is the soul of business intelligence.

What is business intelligence software?

Business intelligence, or BI software, is a set of tools that allow you to collect, transform, analyze and report data so that you can base your critical business decisions based on it. The power of BI software lies in its ability to analyze huge amounts of data and recognize patterns that may not be visible to the human eye. Business intelligence tools are extensively being used by e-commerce companies to predict buying patterns of their customers and then promote or stock their products accordingly. BI tools can automatically generate sales and delivery reports from your CRM data.

There are numerous business intelligence services that can build you custom BI tools or provide you cloud-based services. A business intelligence agency can build you a dashboard through which you can drive the entire data strategy of your enterprise.

The role of BI tools in marketing

The purpose of every marketing effort is to get the biggest bang for your buck, that is, generate as many leads and sales as possible with the amount of money you are spending. You need to continuously optimize your marketing strategy, and nothing helps you more to optimize than data.

Your marketing effort may involve various stages of a funnel. Every stage has its own key performance indicators. The success of the stage B in your funnel depends on the performance of stage A, and the performance of the stage C of your funnel depends on how the stage B performs. In between, according to the performance metrics, you may need to make certain strategic changes to a particular stage.

Take for example search engine optimization, which is a subset of your digital marketing strategy, which is again a subset of your entire marketing effort.

Your business intelligence tool tells you what your current standing is vis-à-vis your search engine rankings. How many visitors are you getting every day? On which days of the week do you attract more traffic and which keywords get you the most traffic?

Then you carry out some optimizations. You add new content. You obtain quality back links. You re-purpose your content. You make changes to your existing content. You notch up your efforts on social media platforms.

What changes does your BI tool show you? Has there been an increase in traffic for the right keywords? Are your optimization efforts impacting you positively or negatively? Are you targeting the right keywords? Have the recent improvements in your rankings had an impact on the number of sales? When you publish new content, exactly on which days of the week does your traffic go up, and what is your ROI?

This is just one example of using business intelligence tools to analyze data and then streamline your marketing strategy.

A business intelligence system, when used for marketing, can tell you where you may be wasting money and where you should put more effort. These changes are not possible without analytics.

How do BI tools impact individual marketing efforts?

Competitor analysis

This is a big part of marketing. How many marketing campaigns has your competitor run? Which products the competitor is focusing on more? Has there been a sudden spike in the social media updates of your competitor? How many media channels and platforms is your competitor targeting? What sort of messaging is your competitor using? What sort of engagement is your competitor attracting from its followers? There are many cloud-based business intelligence tools that can give you this information.

Predictive analytics

This aspect of business intelligence tools gives you the power to see the future and then make strategic shifts based on that knowledge.

Suppose you want to implement a seasonal marketing strategy for the upcoming festive days. There are multiple platforms to target, and you have a limited budget. Your business intelligence tool can use historical data and tell you which is the most effective platform for your target audience for that specific festive season. Different festive seasons may have different platforms.

Predictive analytics and marketing can help you with

  • Allocate budget to marketing campaigns.
  • Obtain actionable insights for subsequent marketing campaigns.
  • Plan automatic campaigns based on predictive patterns.
  • Reassess budgets for less performing campaigns.
  • Alter the messaging based on subtle cues.
  • Use the previous sales data to up or down your marketing efforts and budgets.

Set marketing goals with product-related data

Sometimes, marketing can be successful but there is some problem in the supply chain or production. You can use BI tools to assess the availability of the items that you intend to promote through your marketing campaigns and streamline your efforts accordingly.

A simple example: you want to promote your company’s sunscreen on your e-commerce website. The campaign is successful, but there are not enough sunscreens to sell. You need to turn away your customers. Your marketing has succeeded, but the lack of the product has thrown a spanner in the works. On the other hand, if you have production and supply data with you, instead of focusing on sunscreen, you can market the dandruff shampoo that is abundantly available at your warehouses.

Customer and market analytics churned out by your business intelligence tools can help you tune your marketing. Please remember that it is not always about the success or failure of your marketing campaigns. Even if sometimes your marketing campaigns succeed, there is no coordination between different departments and the success cannot be leveraged. Business intelligence unleashes data from the clutches of departmental silos and gives you a collective intelligence that helps you draw maximum mileage out of your marketing strategy.

BUSINESS

The Latest Lead Generation Strategies That Companies Are Using in 2022

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The Latest Lead Generation Strategies That Companies Are Using in 2022

According to studies, 49 percent of business owners say lead generation and customer acquisition are the main focuses in their business.

The number of leads that a small business owner can generate is directly related to their revenue.

Unfortunately, most companies are not maximizing the number of leads they receive due to a lack of lead generation strategies.

But don’t worry. Keep reading to learn the latest innovative marketing strategies that you can use today to start generating more leads for your company.

1. SEO And Content Marketing

The demand for digital content has increased over the past few years and will continue doing so in 2022. This means that this is one of the most beneficial methods that you should incorporate into your strategy.

So how can you make this work for your business?

The first thing that you should do is develop a content strategy and map it out with the help of professionals.

This will allow you to identify the different tools and techniques that you need to use to increase conversions. Click here for more info about this.

Then, create blog posts and publications that will provide value for your clients.

You can also implement digital PR into your content marketing campaign because this can help improve brand awareness as well as boost traffic through SERPs (Search Engine Results Page). 

2. Paid Advertising

Another effective lead generation method is paid advertising. Paid advertising allows businesses to attract customers by promoting their products or services on various platforms such as social networking sites.

With social media networks such as Facebook and Instagram growing at a rapid rate, business owners should take advantage of the social media traffic to gain more clients.

3. Offline Lead Generation Methods

Even though online platforms continue to dominate lead generation, companies can still utilize offline strategies such as referrals to increase opportunities. This works even better if you offer exclusive deals.

You also need to pay attention to the behavior and interests of your target market so you can determine whether they would be interested in what you have to offer.

4. Event Marketing

Event marketing is perfect for generating qualified B2B leads. This is because it enables businesses to interact with their audience more personally.

Even though this is a time-consuming method, it can help companies deliver their corporate messaging and provide information about their products and services.

When choosing which events to participate in, make sure that you pick relevant ones that your target audience would attend.

5. Get Referrals From Existing Customers

One of the most important lead generation strategies is to get referrals from existing customers because if they like what you have done for them, there’s a chance that you could convince more people to invest in your business.

Allocating budgets for special promotions or incentives such as discounts or giveaways will encourage clients to refer other prospects who may be interested in buying your products and services. 

Want More Lead Generation Strategies?

While some of these lead generation strategies may be familiar to you, others may be new. It’s important to keep up with the latest trends to stay ahead of your competition in your marketing efforts.

Want more articles like this? Check out our blog!

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BUSINESS

What You Should Know Before Buying a Small SUV

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What You Should Know Before Buying a Small SUV

Cars have come a long way since they were invented in 1886. In terms of design, functionality, comfort, and performance, cars have gotten a lot better and the same really is true for most products of technology. Today, there are tons of different car manufacturers, designs, models, and types of cars to choose from. As a matter of fact, there are over 20 different types of cars, including SUVs, Crossovers, Coup, and Convertibles, that are available to consumers around the world today.

However, we’ll only be going over some important considerations when buying an SUV. But before we go into all of that, let’s briefly discuss why cars or vehicles, in general, have become a big part of our existence and everyday life. Civilization and the continuous improvement in technology have both played a big part in transforming vehicle ownership from a luxury to a necessity or need. Visit https://blog.timesunion.com/ to learn more about the importance of owning a car today.

In the past, although the earth wasn’t any smaller, cities weren’t as huge as they are today. Therefore, for the most part, they could get by on land using horses and carriages as the primary mode of transportation. But with civilization and the fast-paced advancements in technology, cities got a lot bigger, and neighborhoods grew farther apart. It wasn’t long before there arose the need for a more practical, efficient, and faster mode of transportation.

What is an SUV?

SUV is an acronym for sport utility vehicle. In the US and in other countries, SUVs are considered light trucks rather than cars. Quite frankly, this makes a lot of sense as most come with some of the off-roading capabilities typically found or associated with real trucks. The term covers a wide range of 4-wheelers that can be used off-road with a performance of a light truck.

While the term can be used to describe larger vehicles like the Chevrolet Suburban, Range Rover, and the G-Wagon, it can also apply to smaller vehicles like the Honda CRV with minimal off-roading capabilities. Today, SUVs have become incredibly popular among consumers because of their many benefits and advantages.

They are typically larger than regular cars which means they can accommodate more passengers while providing ample leg space and comfort. SUVs can cruise through terrains that regular cars won’t be able to drive through. Because they are larger vehicles, they give some level of confidence to drivers when on the road. These are just some of the many benefits that consumers who own sport utility vehicles enjoy.

Buying an SUV

Most people before getting one of these larger vehicles already know why they are getting one and not just for the justifiable hype around them. As we mentioned earlier, some consumers may choose to own one because of their larger cargo space, off-roading capabilities, rugged designs, and a host of other reasons.

If you’re thinking of buying one but are not sure if it’s the right choice for you, here are some of the things you may want to consider. Hopefully, they help you make the right choice.

Seating

One of the first things you’d want to consider when buying an SUV is seating. If you’ll be carrying an average of four people in your car frequently, an SUV might be the right choice for you. Although there are smaller cars that can accommodate four passengers, the level of comfort and leg space they provide can’t be compared to that of a sport utility vehicle.

But you don’t have to go overboard with this, especially if you’re on a budget. Less expensive SUVs like the Hyundai Kona or the 2022 Toyota RAV 4 can get the job done. But perhaps, the Jeep Renegade which some argue is the best small SUV 2022, might be the best option.

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BUSINESS

MyDepot is a service provider that delivers services related to drop shipping at low costs

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MyDepot is a service provider that delivers services related to drop shipping at low costs

Introduction

MyDepot is a service provider that delivers services related to drop shipping at low costs. It is a middle-man and connects the vendors with the drop shipping. It is a reliable service provider and remarkable for those who want to sell their goods on online platforms but are hesitant because of scammers. MyDepot offers a huge variety of products and caters to all needs related to home improvement. You can try and buy these products from a number of stores. It also hosts a number of different suppliers. The products range from sports to furniture and so forth. A good profit is provided by MyDepot and offers bargain prices to its clients.

MyDepot as a Reliable Service Provider

MyDepot is a reliable service provider and tries its best to satisfy its customers. It has high-quality service and suppliers and ensures that the customer demands are fulfilled in an effective way.

Working Process of MyDepot

For finding suppliers and products, there are numerous techniques to browse via the suppliers and products on MyDepot. There is a huge list of suppliers provided by MyDepot, which helps to find the desired supplier in an effective way. There is also a browsing catalog, which allows customizing the search. The website also provides the opportunity to search the products sorted by time, shipping fees, quantity, etc.

MyDepot offers a remarkable function for tracking your order details for the management and tracking of orders. This includes the buyer, date, order status, amount, supplier, etc. Another function offered by MyDepot is that it helps you to build your own inventory. The inventory can be formulated with those products that are appealing. The tutorial is also provided by MyDepot for using this feature in case someone is having any problem using it.

An education tab on MyDepot provides guidance for the selling and finding of the products. The education tab includes some lessons that can teach you about the aspects related to dropshipping. MyDepot delivers a list of elite sellers to its users, which displays the top thirty products from every category. MyDepot also provides a scorecard related to suppliers. Each of the suppliers is scored. This will help you easily assess the return policies, origin of shipping, rates of fulfilment, and timelines. Inventory can also be managed via catalog browsing and selecting the item. You can also publish your chosen item on the sites. Storage, postage, and packaging are handled by the suppliers. Therefore, the function of management of inventory is also provided by MyDepot in an effective way.

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