Business intelligence and online marketing should intervene.
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Business intelligence and online marketing should intervene
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Transcript of Business intelligence and online marketing should intervene.
Business intelligence and online
marketing should intervene
In today’s world marketers need to
take every opportunities they get
People don’t get value
even after spending so
much time on data, it
just turn out to be
waste of time
Business
intelligence
software helps
you look at your
data in new ways.
It draws actionable
insights that allow you to more
effectively and efficiently allocate
resources.
In business intelligence you can implement
successful strategies based on information.
By monitoring the right key
performance indicators (KPIs),
businesses can see trends that would
otherwise be hidden.
Dashboard works as an alarm clock when certain KPIs are under or over-
performing.
KPI: are we watching right stuff?
The Basics
Some fundamental KPIs to get you started are the total number of visitors
on your website, the average amount of time
visitors spent on your website, and the bounce
rate of those visitors.
Return On Investment
One of the most important KPIs for your company to
monitor is return on investment.
This shows you which campaigns are successfully contributing to the bottom
line.
Incremental Sales
This metric shows how many of
your marketing efforts actually lead to sales,
demonstrating the effectiveness
of each campaign.
In order to access and monitor this KPI, first build a
sales baseline and then monitor which sales channels vary
based on your marketing changes.
To calculate this, use the revenue from your marketing minus your
baseline sales.
Conversions by Campaign
Conversions by campaign shows which campaigns
have captured the highest
number of leads and / or sales.
Cost per Lead
Cost per lead measures how many leads are generated per dollar spent.
This will allow you to justify how much money is spent on
every campaign.
Visitor to Buyer Ratio
A visitor to buyer ratio measures
how many visitors that come to your site actually buy
something.
Social Media
By monitoring your social media interactions, you can get a good idea as to how effective your social media
marketing efforts are to improving audience
engagement.
You can monitor things like the
number of Facebook likes,
Google +1s, retweets, and
more.
Tracking Keywords
You probably spend a lot of
time and money trying
to improve your search
engine rankings
every month.
First page results in search engines
for the right keywords can be very profitable.
Tracking your site's rankings for
individual keywords can show you which
search engine optimization
campaigns are paying off.
