Multi-channel analytics is no longer a “nice to have” but now a true need to have in today’s marketing. Consider that 60-75% of consumers have become multi-channel shoppers, using multiple channels to gather information on cost, benefit and reputation. And since they invest more time researching you, they become very informed before you ever identify them. If you think this limited to B2C marketing, think again. We are seeing the same trend with B2B prospects.
So consider the following three reasons to get serious about improving or launching a multi-channel analytics system.
1. Deeper Customer Insight
The customer data is already flowing into most organizations. The problem is that it typically flows into different information silos. With a multi-channel analytics system you can consolidate and discipline that data glut with data marts (see our post, “Introduction to Big Data, Data Warehouse and Data Mart Concepts”). And with social media growing exponentially, as evidenced by Facebook growing to 1 billion users, there is much to be learned about your customers and prospects via multi-channel analytics.
2. Smarter Marketing Outreach
Using multi-channel analytics is the only way to accomplish comprehensive, closed-loop reporting on marketing campaigns. Which means you can unequivocally determine what is actually working. In addition, multi-channel analytics will break down information silos that exist across your organization, resulting in unified customer intelligence between departments and business units. And that leads to a much more cohesive approach to all of your marketing touch points, from sales and marketing to customer service.
3. Enhanced Profitability
With multi-channel analytics, you can stop offering unnecessary discounts or offers which are just one-size fits all. These do not take into consideration your prospects’ specific hot buttons, needs or the buying signals they are communicating to you. We have seen scenarios where clients were leaving money on the table because they were not using multi-channel analytics to inform their marketing decisions, particularly around special offers and promotions they were sending on a mass scale. Stop letting the tail wag the dog and start using multi-channel analytics to enhance profits.
To learn more about how to improve or launch a multi-channel analytics system for your organization, call me at 972.496.7033 to schedule a no obligation appointment.
