Marketing Intelligence | Cloud Relationship

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Marketing Intelligence Gets A Cloud Makeover
Stronger the marketing intelligence, more
effective will be the business strategy and
efficacy of a marketing strategy is proportional
to success of the product in the market. Accuracy
and amount of information determines the effect
of decision making, which in return determines
market prospects of the product. To roll out a
product in the market, an enterprise has to
ensure its success and evaluate the best possible
RoIe. The idea is followed by careful development
of business strategies comprising of
methodologies to acquire the market through
innovative marketing ideas. To devise such
strategic marketing ideas, the enterprise would
have to rely on accurate market information and
data. Herein emerges the prospects of Marketing
Intelligence as one of the most important facets
of business.
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Marketing intelligence has moved beyond the
paradigms of physical market surveys and
analysis. Internet being the mainstream has
become the prime source of new market data and
information. This transition from the spheres of
physical surveys to internet-based researches has
materialized the Cloud Makeover of marketing
Intelligence. The underlining idea is, market
research is now internet based and online
platforms are the dependable source of market
intelligence.
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Market information can be obtained from various
sources. Big Data plays a major role in the
current landscape of business analytics. Big Data
is complicated and an exclusive branch has
protruded to deal with it. However, data can be
obtained from simpler sources such as Social
Media. Social Media Monitoring involves
collecting data from post on popular social media
platform such as Facebook and tweets on
Twitter. It can offer the company an insight of
customers review and their viewpoints on any
product or service. Cloud Based CRMs offers a
new perspective to this renovated model of
research. New CRM technologies are enabled to
offer comprehensive sets of information about
customers. For instance, the breakthrough
technology introduced by CRM developer such as
SaleShark , not only offer information about a
single customer, but also comprehensive data on
related customers and potential business leads
forming an integrated network of information.
Such technologies are synonymous with the Cloud
that is inclusive for marketing and sales
management.
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Customer database or the CRM is among the primary
sources of market information. Analyzing data
from customer databases assist in understanding
cross sales and up sale opportunities. This helps
to understand the behavior of consumers over long
durations. Integrated CRMs offer complete profile
view or a 360-degree view of any customer
providing comprehensive insights on their
purchasing and expense behavior. Additionally,
purchasing frequency, recent purchases and value
of purchases can be traced out from CRM
databases. Therefore, purchasing pattern of the
consumers can be extracted from
CRM. Cloud-backed technologies are necessary to
substantiate the one stop solution to businesses.
The Cloud Makeover of CRMs has substantiated them
as single windows to gather market intelligence.
Augmenting the capabilities of traditional CRMs,
these new Relationship Management Applications
are offering amicable avenues to obtain market
intelligence. Hence, new possibilities of
business analysis and market data are unlocked.
Enterprises can now leverage CRMs as an inclusive
tool for business intelligence achieving more
than just mining customer purchase information.
These applications can be imperatives in cost
cutting by reducing extra investments to obtain
market intelligence. CRM being used as a market
intelligence tool is not a new idea. However, a
new range of CRMs is offering better edges to
this particular aspect of business, that is,
market intelligence. The cloud makeover of market
information is backed up by new this next gen CRM
Technology.
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There is a growing need to understand people
first before making any initiatives to build
seemingly promising relationships. In other
words, humanizing technology is the real focus
for salespeople to authentically connect and
engage with their prospects. Not just customer
intelligence, but even sales intelligence is the
essence to formulate effective new business
strategies. However, obtaining real-time and
relevant customer information has been a
challenge for any enterprise.
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The market dynamics has grown such that, brands
and enterprises will have to catch up with
customers to gain advantage over their
businesses. Against this backdrop, Market
Intelligence materialized to be more
sophisticated as well as have grown more crucial
for businesses. MI is the set of everyday
information related to the business arena of an
enterprise. Mushrooming businesses, startups and
enterprises have incurred fuzziness in the
present market scenario with piled up products
and services.
The arena of market information is complicated
and vast. Moreover, aspects such as Big Data make
the domain more convoluted. It is certain that
there are no limits to data utilization or to the
extents of market intelligence. Technology is
meant to develop and new solutions will overlap
the old ones. The transformation of CRM
technology has been offering better advantages to
business. The technology will keep on evolving
and offering new avenues for business adding up
the profits.
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Thank You
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