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Business intelligence tools and data analytics have become essential components for digital marketers in today's fast-paced business environment.
With the vast amount of data available, marketers can no longer rely on intuition and gut feelings alone to make important decisions.
Do you know? - “We’re going to move into a territory where automation, machine learning, and artificial intelligence will prevail over the rest, seeking maximum personalization in ads” - Elena Ferreras, Wink [Channable Email]
In this post, we'll explore how business intelligence tools and data analytics benefit digital marketers' decision-making processes:
1. Identify Target Audiences:
Business intelligence tools and data analytics allow digital marketers to identify their target audiences.
Business intelligence tools and data analytics allow digital marketers to measure the performance of their campaigns.
They can track metrics such as click-through rates, conversion rates, ROI, and many others to determine the effectiveness of their campaigns.
This information helps marketers optimize their campaigns to achieve better results.
“72% of high-performing marketers are able to analyze marketing performance in real time, giving them an advantage when it comes to responding to and optimizing campaign performance” – Salesforce Research [State of Marketing, 8th Edition, 2022]
By analyzing customer data, marketers can create personalized experiences that resonate with customers.
Personalization leads to increased engagement and loyalty, which in turn leads to higher revenue.
“Companies are no longer competing solely on products or services. Now, they're competing on customer engagement and experiences, too: Fully 80% of customers say the experiences provided by a company are as important to them as its products and services, according to Salesforce” – MarketingProfs
5. Predict Future Trends:
Business intelligence tools and data analytics allow digital marketers to predict future trends.
They can analyze historical data to identify patterns and make predictions about future trends.
This information helps marketers stay ahead of the curve and make informed decisions about their marketing strategies.
"AI technologies use dynamic pricing models to help predict customer behavior, supply, and demand to alert salespeople when to increase or decrease the price of a product or service" – HubSpot
In conclusion, business intelligence tools and data analytics have become critical components for digital marketers looking to succeed in today's competitive business environment.
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