Running an online business requires staying on top of many moving parts and systems known for volatility. Digital marketing is just one part of online business and is also one industry that changes at the drop of a hat. The businesses that do not adapt to industry changes typically face a slow death as the best practices leave them behind. As Moore’s law continues to push technology forward, some new processes and tactics drastically change how everyday online business works. One of the most significant digital marketing changes in recent years was the widespread adoption of business intelligence and data. Data collection used to be restricted to large companies, but now anyone can collect and use business data to their benefit without significant effort. Data is everywhere, and the best businesses use that information to boost their effectiveness. Data and business intelligence are perhaps most useful in improving digital marketing strategies so businesses can better market to customers, which would hopefully generate more sales. Any business can use business intelligence in a multitude of ways, but a few of the most impactful and well-known uses are detailed below.
Better Information Is Always Useful
No matter the situation or use-case, more access to a larger volume of better information is always a good thing. The more accurate information you have, the more prepared you are to make a decision or alteration in any setting. In digital marketing, business intelligence and customer data are precisely the tools professionals need to improve their results. Knowing what groups of customers like what types of ads let marketers better target ads and foster more sales among many other uses. If business intelligence tells you that most of the customers who have bought something in the past six months all live in the same area or click on the same types of ads, you know how to target that same group again later to pull in more sales consistently. Better information and data also let you stop wasting resources where they are not effective. If the data shows an outreach project failed, you can safely stop sending resources there and refocus on projects that data better supports.
Protect What You Have By Never Being Caught By Surprise
Online businesses fight for every inch of hold they can get, which means most online businesses want to protect the ground they have fought to claim. Sadly, with digital marketing, not everything is in a business’s control. Digital marketing often relies on other companies, 3rd parties, and the intangible Internet to keep assets live and functional. With so many players outside of your business, you need tools that will keep track of that business data to keep the connections smooth. No one wants to check in one day and find their asset health has surprisingly declined with no apparent reason why. You can set up alerts for failed transfers, attempted breaches, broken links, system issues, and more, so you are not surprised on a Monday morning. Many of these monitoring systems also have efficiency features that run automatic maintenance on a set schedule and optimize system load.