Marketing and sales go hand in hand, and they are just as important for the success of your business as the innovation and creativity that inspired your product. Marketing itself is a fairly wide umbrella, covering everything from advertising to the consumer experience to pricing.
Due to its importance, many business leaders and managers search for ways to boost their marketing so that their spending goes further and has more impact. In this post, we will talk about some ways to improve marketing outcomes and the process of marketing and sales with the aim to give you more value for your investment.
Customer Relationship Management
One of the hottest trends in business is customer relationship management, or CRM. CRM is a concept that attempts to tie together business functions that are traditionally separate, from marketing to sales to customer service. In other words, it means combining all business functions that interact directly with customers. The advantage of this is the ability to track customers as they move through the sales funnel, from first encountering the brand to growing engagement to purchase to support.
By tracking the entire customer experience from start to finish, you can see a customer’s pain points and bottlenecks in your business model that might otherwise have fallen through the cracks. CRM typically involves using software platforms to link different departments and functions together into a central repository of data, which you can then analyze for insight.
The rise of automated marketing has led to significant cost savings and increases in scope for many marketing tasks. The most obvious candidate is emailing. It’s now possible to automate emails to defined groups in highly specialized ways. For example, if a customer leaves items in their online shopping cart, you can automatically send them a reminder to finish checking out. A client nearing the end of a subscription might get an offer to resub at a discount.
You can send out different emails based on demographics, engagement history, and other measures. You can automate whole sequences of emails to streamline the amount of time and attention you need to devote to emailing customers. Automation can give you outsized results while cutting the time you spend on repetitive or mundane tasks.
The rise of CRM and the flourishing of online and mobile sales and marketing has started to generate a lot of data for businesses to use. You can amass vast quantities of information in an attempt to answer basic questions such as "How can we turn one-time buyers into repeat business?", "What are our most and least successful demographics?", and "Why do so many people who see our ads fail to make a purchase?" Big data analysis tools make it easy to quickly create graphs and charts that delve into the story behind the data. Visualization tools are great for showing exactly what is happening, because in this case, a picture can be worth a thousand megabytes.
Tracking employees and statistics are important components of any business. Improving the efficiency and accessibility of HRIS software doesn’t directly impact sales and marketing, but it does have a large effect on morale and employee retention. Which are incredibly important in the business world.
Building a happy and experienced workforce is key to growth, and the staff needs to feel that they can depend on HR to act quickly on their behalf if they need it.
The bottom line is that this is an exciting time in business because technology is transforming not just the products and services for sale, but the very structure of business. Being creative with technological tools can give you a massive efficiency edge in today’s crowded markets.