Personalized experiences are taking over the world. The number of interactions that take place both physically and virtually is compounding exponentially. We think of personalization as a long-standing thing but it’s only in its infancy. For those willing to visualize a new way to relate person to person, or organization to organization, the outlook is truly rosy.
This shift is just as true in the business realm, where personal experience is often the relied upon interaction a company has with eventual customers. In most cases it can be the defining interaction between the two!
For this idea, it’s critical for organizations to create an engaging personalized experience that captivates and is easy to use. That personalization leads to better segmentation. According to MailChimp, through the use of segmentation, companies saw an uplift of more than 14% in email opens, a 101% increase in clicks, and a 4.7% decrease in bounces.
However, a recent McKinsey survey of senior marketing leaders finds that only 15% of CMOs believe their company is on the right track with personalization. Here’s where the disconnect is. Marketing teams don’t have access to the necessary data, but the data is actually there and just needs to be unlocked. Clearly we’re missing the mark and leadership believes their teams are not getting an objective view of their customers’ experiences.
The failure of traditional BI tools to connect the dots
For more years than can be counted, traditional BI tools have promised to give marketing teams the ability to connect the dots. By collecting data on what emails prospects open, what their journey looks like, and how different (segmented) users act on your website, the thought process goes that marketing teams can determine what’s valuable and create priorities around activities that actually lead to revenue. But this hasn’t occurred!
It’s factual that making objective, information-based decisions has proven challenging up to this point, and it requires more than just raw data. But we’d also suggest that the main reason for this shortcoming can be squarely attributed to the tool itself, which has proven problematic not only in time to set up but also going deeper and getting insights faster without heavy lift from IT.
The data clearly shows this. Nearly 100% of teams we surveyed mentioned having one or more tools that give them some data to help with personalization. However, less than 10% say that data is easy to access, actionable, and helps to actually drive confident campaign decisions.
A complete transformation: Marketing Impact by Industry
With this information, we would like to suggest a new thought process: business intelligence solutions should concentrate on collecting and consolidating the data (whether firmographic, demographic, psychographic, or intent driven) that they haven’t been able to tie together previously, and that actually drives home hyper-targeted marketing activities.
How is this done? With data science. We call it Marketing Impact by Industry: a data science feature that’s capable of tying together marketing activities by domain name, assigning them to a company, and associating them to the correct industry, all while correlating them to actual revenue generated…automatically. The goal: to deliver market segmentation based on industry to help marketers take the most important step towards effective personalization.
Get your ICP Industry Analysis to discover the segments your team is missing and the resulting impact on your business.
Marketing Impact by Industry does all of this for you. It’s the sought-after solution that provides the insight needed to segment better according to industry so that your customers have an improved experience in the buyer’s journey. It’s a paradigm shift in personalized experience analytics. And it’s a part of RevOptics.
Welcome to the future of insights
Meet the next generation of modern BI tools that make up RevOptics ICP Analytics.
Industry Revenue shows you how much revenue was generated by each industry as a result of a specific campaign or set of marketing activities. RevOptics is able to do this thanks to the dataset that is integrated with our analytics solutions. This dataset includes industry information for over 50 million companies.
The insights provided by Industry Revenue help you understand where your customers are coming from so that you can double down on industries that are driving the most revenue. Not only that, but it also helps to identify opportunities in industries that weren’t necessarily targeted and could provide an unexpected bump in revenue. Finally, Industry Revenue can highlight lagging industries that may need to be reduced or pruned to make marketing campaigns more efficient in order to maximize optimal ROI.
Average Days to Close
Average Days to Close analyzes your industry data by campaign and activity type to show you how many days it takes for leads in that industry to become paid customers. This analysis helps you identify the industries that move through your funnel quickly and those that tend to take a bit longer. These insights aid in campaign planning duration so that forecasting will be more accurate.
In September we released drill down capabilities throughout the application to help users see and trust the data that was being combined to tell the revenue story from their CRM and MAP. We made a commitment to include this functionality with every new feature we release including ICP Analytics. Drilling down into the data validates marketing’s impact while providing transparency into data that is typically hidden from the marketer without a CRM license. Get the details of the companies, roles, titles, and even the revenue date to influence next steps for upcoming campaigns.
A full dataset + analytics: speed, reliability, knowledge
We started by talking about the division between what consumers experience and what marketing teams believe. We’ve designed RevOptics to eliminate that gap and to deliver not only the data that shows teams how their ideal customers engage with their brand, but to automatically surface the important elements of it.
Again, analytics is only half of the picture. The other half is the complete set of data. The best analytics tool in the world is useless if it can’t capitalize on a dataset to help identify and better target by industry or other customer segments. Put those together, and you get RevOptics ICP Analytics: a solution that gives you reliable insights so you can move quickly and confidently, knowing that you’ve left no stone unturned.
This is the power of revenue operations intelligence at your service. This is RevOptics.
Learn more about what our revenue operations intelligence platform can do for you, or jump right in with a free trial of RevOptics today!
To learn more about RevOptics and how it can make you a more data driven marketer, request a demo today.