Marketing Effectiveness

Dashboard

Good business intelligence should make data easy to interpret. A great solution should interpret the data for you. This visualization allows marketing to target spending in order to maximize effectiveness. Instead of spending more to have ads spread out across the U.S., spend less and get more sales out of Miami, Philadelphia and New York City. The circles represent major metro areas where your widgets are being sold, the bigger the circle the more effective the advertising.

Why it’s important

There is never enough money to satisfy your marketing spend needs. You can always spend more money, and hopefully get more sales. However; in the real world there are budgets and marketing has one. Making the most of your marketing budget is where a good business intelligence solution comes into play.

Today marketing comes in a variety of flavors. You can allocate your marketing budget into a dizzying array of options. Facebook, LinkedIn, Google Pay-Per-Click, Bing, Yahoo, banner ads, TV, radio (good luck) and print media are just a couple of the options available to any small business or medium sized business. Each channel has advantages and disadvantages, but the undisputed leader of the pack is Google (at least for now).

Google pay-per-click (PPC) allows companies to buy ad space on a Google search page, the cost of which is determined by complex algorithms. One way of minimizing your cost-per-click (CPC) is to target ads to localities. The cost for advertising in Indianapolis is lower than advertising globally. This is true of nearly any advertising channel. The question then becomes, how do I know where to advertise?

Using business intelligence

Businesses have an amazing amount of data that can help answer that question. The problem is bringing that data together into a format that allows for decisions to be made. DataFive can do just that. After an assessment the implementation and data analysis teams can bring together information that will allow you to make transformative business decisions.

Business intelligence implementations have real return on investment (ROI). Lowering your marketing spend while increasing sales not only increases overall profit, but has a dramatic effect on cash flow. All of this data is sitting in a spreadsheet or database on someone’s computer at your company.

• Is your business capitalizing on information that you already have?
• Does your marketing team have a business intelligence dashboard that can reduce costs and increase sales?
• Have you ever seen data displayed in an easy to use format at your company?

If the answer to any of these questions is “no”, contact the team at DataFive to get started on a solution to your business intelligence needs.