It is a well-known fact that the success of marketing depends on the ROI in terms of revenue, dollars, and impact on the customer. The upper management expects the metric for a particular market strategy. This metric reveals information about the success or failure of the marketing plan. But, gathering the exact count of the responses to a particular marketing strategy is a cumbersome task. Still, the marketers try to gather as much information as they could from the available data.
However, as we all know how difficult it is to convince the top management, so the metric is unable to persuade them about the marketing strategy. So, to rectify the current situation, technology intervened and saved the marketers. The development of the marketing data tool helped the marketers to quickly produce useful metrics using the data gathered by the tool. It is the only reason behind the fast pace development of the data analytics tool. However, from the myriad of tools, we have shortlisted three best marketing data tools to help marketers increase sales.
Implementing “big data” analytics for optimizing ROI is the basis of Marketing Evolution. Marketing evolution uses real-time data, big data, and automation for analyzing the success of a marketing strategy. It helps to discover which marketing strategy works best for which customers. This information contributes to channelizing and customizing the marketing plan as per the client’s requirements, thereby increasing sales.
- Real-time data evaluation
- Understanding marketing trends
- Big data analytics
- Lack of predictive modeling
Wordsmith for Marketing
Wordsmith for Marketing is one of the best data reporting application which provides detailed information about the client’s performance on the website and with Adwords. This information helps the marketer to learn about the fulfillment of the marketing strategy, through the report based on customer responses. This report helps the marketing team to strategize the marketing plan in a way that could earn maximum ROI.
- A report in the form of well-represented charts and tables.
- No additional integration required for performance analysis
- Fewer themes and limited chart tools
A predictive modeling tool that organizes the past data to know about the marketing pattern. Lattice gathers the data about the previous marketing plans and compiles it to derive a pattern. This pattern helps the marketing team to know about customer’s inclination and therefore contributes towards creating a personalized marketing plan.
- Customizable Predictive models to suit different marketing zones.
- Real-time lead generation and customer scoring
- Sales can prioritize their efforts based on predictive scores.
- Measure and manage performance
- Some of the predictions are like a “Black Box,” where the user is unable to understand the actual reason for approximations.
The Bottom Line
Analytics is the backbone of the businesses. Organizations are spending a million dollars to find the most suitable analytics tool, which could evaluate their performance. The three marketing data tools mentioned above are the best alternatives for data analysis. The information derived from them helps the markets to devise an efficient strategy to improve organizational sales.