How to improve marketing activities through data analysis?
The modern advertising market is constantly changing. The growing role of online channels and the popularity of mobile devices are facts that are difficult to dispute. This situation generates new challenges for marketing professionals. Marketing teams are becoming more and more specialized and process huge amounts of data every day. Although marketers have so far used Google Analytics in their analysis and made business decisions on this basis, today it is worth supporting these activities with extended analytics, based on advanced systems for analysing large amounts of data, such as Power BI.
Data-Driven Marketing - get to know your customers
Today, marketers have access to a huge amount of data. Thanks to them they are able to get to know customers and their needs very well and direct a personalized advertising message to them. According to the IAB Europe report, in 2017 nearly 84% of the surveyed advertisers used their own data in their advertising activities, mainly from CRM and transaction platforms. Respondents also admitted that they analyse data provided by external companies (69%), and a group of 50% of entrepreneurs also analyse data obtained from trusted partners. Although we have access to such a large amount of data, it often turns out that correct analysis is a challenge. Fortunately, new technologies and systems for data analysis, such as Power BI, are helping.
Power BI as invaluable support in marketing activities
Business Intelligence tools are more and more often used by entrepreneurs because the nature of modern advertising has changed. Companies conduct promotional activities on many channels at the same time. The offline world connects to the online world. It should be remembered that an objective assessment of the effectiveness of marketing activities conducted in this way is difficult and exposed to numerous pitfalls. So how to properly analyse the customer's journey when the customer contacts your company through social media and finalizes his purchases in the online store?
Business Intelligence tools such as Power BI allow you to get a very broad overview of the situation. They allow not only to assess the effectiveness of individual marketing channels, but also to estimate the amount of revenue generated by a specific group of recipients. Thanks to this, making the right business decisions becomes much simpler.
The flagship feature of Power BI, which allows for a holistic and multifaceted picture of the situation, are connectors, i.e. data links. They combine data from various sources such as Google Analytics and Facebook Analytics. Data generated in this way can be easily confronted with selected - partial or total - parameters of a marketing campaign, which significantly facilitates the work of the marketing department and allows for optimization of the advertising budget.
EBIS also offers Power BI Sales and Marketing Analytics by EBIS, which comprehensively supports the analysis of marketing data and can be fully adapted to the needs of a given industry or company.
Additionally, thanks to in-depth data analysis, you can:
- Make a more effective choice of advertising media,
- Build better-personalized advertising messages,
- Increase the conversion rate,
- Improve your Customer Experience,
- Adapt your products and services to current market needs.
So, if you want to conduct effective marketing activities, which will ultimately translate into higher profits of your company, it is necessary to make decisions based on data. Proper data analysis and a better understanding of the data is guaranteed by the Power BI system.