The importance of Business Intelligence in marketing today

Business Intelligence

Gone are the days of ignoring digital marketing and relying on word of mouth to increase your customer base. If you want to compete online today you need to take digital marketing seriously. With all of the data-driven insights available to each and every company out there, there is no excuse for lacking a robust business intelligence strategy. 

The online marketplace is becoming more and more cutthroat, but understanding business intelligence is one way to protect your business and outperform competitors. Understanding business intelligence will give you new tools, tricks, and tips that can all be used to help you hit your marketing goals.

What is business intelligence?

In essence, business intelligence is exactly what its name suggests. The phrase business intelligence is used in a rather broad manner and covers a host of methods, tools, and technologies that are used to gather, organize, process, and display data in an understandable and useful manner. Business intelligence grants businesses access to information that could be the difference between a successful digital marketing strategy and one that fails before returning any results.

Business intelligence for marketing

When we speak specifically about marketing, business intelligence tools are a priceless resource for those involved. Marketers can access consolidated platforms used to collect and analyze information from a variety of sources. From social media interactions and website traffic to customer relationship management (CRM) systems, these tools allow marketers to make decisions based on data and facts, rather than relying solely on opinion and intuition.

When you have gathered this invaluable data, the information can be used in various ways:

1. Acquire a deeper understanding of your intended audience

Recognize the characteristics, needs, and intent of your desired customers. This lets you design focused advertising strategies that resonate strongly with your target market.

2. Analyze the success of your marketing efforts

Keep an eye on important data like ROI, conversion rates, and website traffic to determine what’s been working and what areas need more attention. You can maximize your returns and optimize your campaigns comfortably with a data-driven approach.

3. Identify fresh opportunities for growth

Look for consumer behavior patterns and market shifts that you could take advantage of to generate a competitive advantage. By being proactive, you can ensure that your marketing techniques are being refined when needed to get (and keep) you ahead of the competition.

4. Personalize your marketing

Creating personalized experiences for each individual customer is a proven approach to successful digital marketing. This can be done by tailoring your messaging, content, and offers based on their unique needs, preferences, and predicted intent.

5. Boost consumer segmentation by segmenting your audience into smaller, more manageable groups based on shared attributes. This lets you provide the most pertinent and potent marketing messages to each group in a personal manner.

6. Efficiently distribute marketing budgets

Data-driven decisions will allow you to better manage your marketing budgets. Using resources effectively and efficiently is important in any industry and in digital marketing, allocating the correct portion of your budget to each campaign becomes a breeze with enough gathered data.

7. Forecast future consumer behavior

You can use data to forecast the expected future behavior of your customers. This gives you the opportunity to anticipate their needs and wants and to adjust any particular aspects of your marketing strategies accordingly.

Utilizing business intelligence, marketing experts can get a deep and well-rounded understanding of their ideal customers. By optimizing campaigns in reaction to trends and informing their decisions with data, decision-makers can hit their digital marketing goals.

Need business intelligence services? inSegment is here to help!

inSegment boasts decades of experience providing leading companies with robust business intelligence strategies focused on increasing our partners’ bottom line. Our team of specialists work as an extension on your team, aligning our goals with yours to ensure we remain focused on your primary digital marketing objectives. 

We provide the full range of digital marketing services to clients that span the financial services, non-profit, higher education, and technology sectors. We take several key actions from data collection to predictive analytics that result in a well-rounded and successful strategy.

1. Integration and data collection

We bring together all of the valuable data hiding in plain sight from all of your marketing channels. We compile this information in one place to make it as clear and understandable as possible for our partners.

2. Data analysis and reporting

We craft in-depth reports that offer you a selection of insights from surface level suggestions to advanced recommendations that can be the key to a successful campaign. We regularly present the findings contained in these reports to make sure our partners understand the breadth of information therewithin.

3. Marketing automation

We help partners automate many of the menial tasks that take up their valuable time. We automate email marketing campaigns to easily hit large email lists without the painstaking work of segmenting these lists unnecessarily. We also take full charge of social media automation so that you never let up in engagement and continue to feed the all-important algorithms.

4. Predictive analytics

Our data-driven insights allow us to anticipate the future desires and behaviors of customers and potential customers. Once we identify patterns, we use our tech stack and expertise to accurately predict what your customers will do, want, or need next. 

To find out more about how inSegment can drive results for your business using our business intelligence capabilities, simply reach out and we can arrange a time to talk about crafting your business’ next winning marketing strategy.

Contact inSegment today and see how our experts can transform your digital efforts by utilizing business intelligence tools, tricks, and tactics! 

The importance of Business Intelligence in marketing today

Business Intelligence