By Dhaval Gupta
India’s data analytics industry has witnessed rapid growth in the past decade, driven by the surge in internet users, which now stands close to 1.2 billion. Consequently, India ranks as the second-largest online market globally. Despite this remarkable growth, many businesses face challenges in aligning sales analytics with marketing data in the ever-evolving digital marketing landscape. Integrating insights from multiple sources remains a daunting task, hindering the flow of information crucial for strategic decision-making. A majority, 62%, of marketers have intentions to incorporate AI into their campaigns. Among these, two out of three brands are looking to utilise AI specifically for identifying influencers.
Alignment of marketing and sales analytics is must
The integration of marketing with sales analytics can yield numerous benefits, such as providing a holistic view of customer journeys and allowing businesses to understand how marketing efforts impact sales. This alignment is pivotal for creating targeted campaigns, refining customer segmentation, and optimising resources.
Therefore, the technological advancements in the field of Artificial Intelligence (AI) and Machine Learning (ML) will play a crucial role in this alignment. Advanced analytics tools and platforms can facilitate seamless data integration from multiple sources. Automation further streamlines processes, reducing manual errors and enhancing the efficiency of data analysis. By leveraging technology, businesses can transition from traditional siloed approaches to a unified ecosystem where marketing and sales data converge harmoniously.
Pitfall of separating sales and marketing data
Marketers face challenges in using data effectively, and a big problem is data silos, where information is stuck in different parts of a company. This happens a lot with social media analytics tools that work on different platforms. Because of these silos, it’s hard to get useful insights from all the data together. Another issue is looking at sales and marketing data separately, missing the connections between them. To solve these problems, organisations need to work together, break down silos, use tools that work together, and look at all the data to make better decisions. That’s why there’s a growing demand for tools that can analyse different social media platforms and campaigns together and give useful suggestions.
Case study: Bridging the gap for real estate advisory firm
The case study focuses on a US-based leading Real Estate Advisory Firm dedicated to simplifying the process of finding the right town and home for clients. With an objective to generate interest and convert targeted potential property buyers across the United States through multiple platforms, the firm implemented a comprehensive strategy.
The outcome was nothing short of remarkable. The campaign successfully generated 6,900 verified leads, achieving a staggering 961% increase in leads via online ads. The average monthly leads surged from 9.4 to 99.9, coupled with a significant reduction in the cost per lead by 78%. Notably, the average quality score improved from 4.5 to 6.8, and the impressions share rose from 43% to 78%.
Furthermore, the campaign realised an impressive 84% improvement in the CPA-Search Network. The overall impact was reflected in a substantial revenue of $4.75 million, with an expenditure of $0.5 million.
To optimise their approach, the following steps were implemented:
Enhanced targeting: Refined customer segmentation for improved engagement and relevance.
Lead scoring: Developed models prioritising high-conversion potential leads for more effective sales efforts.
Personalisation: Delivered personalised marketing messages and offers based on comprehensive data.
Sales enablement: Equipped sales teams with insights from marketing data for more effective conversations.
Closed-loop reporting: Integrated marketing and sales data to measure campaign impact on sales and revenue.
Improved attribution: Analysed data from both departments for a more accurate understanding of marketing contributions.
Final thought
Bridging the gap between marketing and sales analytics is not just a theoretical concept but a practical necessity for businesses aiming to thrive in the digital era. The case study exemplifies how a Real Estate Advisory Firm achieved remarkable success by seamlessly integrating marketing and sales data. By embracing technology, breaking down silos, and adopting a holistic approach to analytics, businesses can unlock the potential for improved decision-making, efficiency, and hence, enhanced profitability. The journey from click to close is paved with aligned data, empowering businesses to navigate the complexities of the modern marketplace with confidence and precision.
The author is MD of CMRSL, the parent company of CMGalaxy (an AI driven Saas product).
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