Marketing is a worthy investment for a business by which they promote their products and services via channels such as social media and search engines. With the evolution of technology, digital marketing has become the foundation for every marketing strategy.
The market is more consumer-centric now, and there is a need for extra efforts to reach the desired audience, as ordinary digital marketing practices can’t help. Do you know that business intelligence can help? If you want to know- how BI can boost your digital marketing? Then this article will help you to find the answer to it.
BI and digital marketing are a lethal combination of reaching the right customers at the right time with data-driven insights. Before diving deep into this blog, let’s have some basic ideas.
What is Business Intelligence in Marketing?
Business Intelligence is a technique that facilitates businesses to showcase data in a user-friendly way, such as reports, dashboards, charts, and graphs. It helps access various data from in-house to the third party or from historical to current data, whatever you need.
BI is implemented with the help of tools such as Tableau, Power BI and others. Although these tools only provide insights instead of telling what to do. With the help of data visualizations, business users can make decisions accordingly.
The BI has a close relationship with digital marketing. You can extract useful information for designing and executing personalized marketing campaigns based on the data insights. It helps identify consumer behavior, find trends, and measure marketing efforts. Over-and-all, business intelligence and marketing in combination ensure better outcomes.
You can utilize advanced BI tools for digital marketing with the help of experts. For using Power BI, getting help from experienced Power BI consultants is worth it.
Why You Should Use Business Intelligence to Boost Your Digital Marketing?
Here are some reasons why you should use BI for boosting digital marketing. The following points will help you leverage the power of BI to unlock your business’s potential via personalized digital marketing strategies.
1. Identify Your Audience
For executing a smart marketing strategy, it is crucial to identify who my customers are and what they are interested in which product. The BI tools can help you to do it finely. Based on the data collected from various sources, you can draw a picture of whom you should target instead of playing guessing games. For example, data related to the engagement of users with social media promotional posts
2. Real-Time Analytics
Data changes every second in this dynamic world, so you need to perform real-time data analysis for a better digital marketing strategy. The BI tools help in a more effective way that allows leveraging real-time analytics to improve and monitor the marketing strategy.
3. Identify The Trends
The success of a digital marketing campaign depends on how it matches users’ intentions. If you know the current marketing trends, half the battle you have won is reaching the customers with your campaign. The business tools such as Power BI can help you to identify trends. For example, a heat map generated by BI tools shows how many customers have bought the product and how they may have put their query for info about the product.
4. Measuring of Marketing Efforts
The global advertising spending is more $781 billion worldwide, but how can companies know whether their campaigns are performing well? The best idea is the use of BI tools. With the help of generated reports, a business or enterprise can easily measure the effectiveness and outcome of a marketing campaign. The tools can help you determine the conversion ratio, leads generated from websites or social media or e-mails, marketing qualified leads(MQL), sales qualified leads(SQL), stats of returning visitors, and more.
5. Measuring Competitors Performance
One of the benefits of BI tools is that you can measure competitors’ performance using third-party data. It can help you to stay ahead of the competition. You can tune your marketing strategies for the best outcomes based on the insights.
6. Segmentation of Audience
The importance of business intelligence tools increases when you want to segment the users for a digital marketing strategy. Using BI tools, you can segment the customers based on – Demography, Geography, Psychographics, and Behavior. Once you have segmented users, you can make a strategy to provide you with the best results.
The Top-5 Business Intelligence Tools For Digital Marketing
To stay ahead of the competitors, business intelligence is a necessity now. These tools help you to understand the market trends, identify the audience, improve marketing strategies, and more than you expect. Business intelligence tools are the best for this purpose. So, here are the top-5 business intelligence tools that you can use.
#1. Power BI
It is a business intelligence platform by Microsoft that helps in data collection, cleaning, data visualization, reporting & dash boarding, and creating data insights. It is one of the top BI tools, and if you want to use it effectively, then it is recommended to consult with some top power BI consulting companies.
#2. Sisense
The Sisense BI tool helps in making fine business decisions based on data reporting and analytics. It works as one of the end-to-end solutions to collect and analyze the data from different sources.
#3. Tableau
If you are in the urge to use a BI tool that can help in data visualization and analysis, then you can’t ignore Tableau as it is one of the best options for you. You can use it via cloud, desktop, or onsite whenever you want. Including the collection of data from various sources it also allows for slicing and dicing the data.
#4. Zoho Analytics
Zoho Analytics is one of the favorite choices of digital marketers around the world who used to work at an enterprise level. One of the best features is to allows the business users to create actionable reports using drag -n- the drop facility. Another best feature is the AI assistant that helps with multiple tasks.
#5. Logi Analytics
It is also one of the most powerful BI tools available in the market. Logi Analytics facilitates companies to embed reports and dashboards in existing enterprise applications. One of its best features is role-based use so the employees can access as per their responsibilities or work decided by the management.
The Final Thoughts
Digital marketing was introduced to the corporate world due to the limits of traditional marketing. But there is high competition in the market, and digital marketing needs some extra effort. So, here comes the business intelligence that can help you to derive maximum results from digital marketing and unleash the hidden potential of your business. Implementing the right digital marketing strategy with personalization is always beneficial, and BI can enhance it more. So take your business to the next level with the help of boosting your digital marketing with business intelligence and its tools.
Punit