Fine-tune Your Funnel
How Modern Marketers Use BI to Accelerate Campaign Conversions
Sales has missed their targets for the second quarter in a row, while the marketing team seems to keep exceeding their goals. The sales team blames marketing for sending them low quality leads that are impossible to convert. Marketing says it’s sales’ job to close deals.
What’s going wrong and who’s to blame?
A little friction, and dare we say competition, between sales and marketing is perfectly normal in any organization. But if sales revenue is tanking and quality pipeline isn’t being generated, this should signal to marketing that there are some serious blind spots along the customer journey.
The solution to fixing the funnel and getting in lock step with sales lies in successfully leveraging data. Successful marketers come to the table with a complete, end-to-end view of the customer journey and the ability to measure marketing impact from awareness through advocacy. They have discovered the ultimate secret weapon: their BI team’s data stack.
This ebook will dive into six ways marketers can use their BI team’s data analytics tools to fine tune their funnel and mend the divide with sales — from determining the highest value prospects to attributing campaign ROI across dozens of channels.
Ready to increase conversions, cut acquisition costs, and win the hearts of your sales team? Let’s dive in.
TABLE OF CONTENTS
How Marketers Can Use BI to Accelerate Conversions
Get a 360 Degree View
With more information available to them than ever before, collecting the right data may seem like a non-issue for marketers. But the sheer volume and variety of data at their disposal can result in analysis paralysis.
Data siloed across apps and platforms presents another problem. Most of the baked-in analytics these marketing apps provide are just 90 day windows of parts of the customer journey.
The first step is to identify and integrate the data that actually sheds light on what’s happening all the way through the funnel, touchpoint by touchpoint.
Today’s modern BI tools enable marketers to integrate their marketing data sources together and even tap into their companies’ cloud data warehouses so they can combine CRM, product, and other relevant data to get a fuller picture of the funnel — all without needing any specialized coding knowledge.
What’s a Cloud Data Warehouse?
A cloud data warehouse is a database delivered in a public cloud as a managed service. Modern cloud data warehouses like Snowflake act as “data hubs” that collect, organize, and centralize data from across sources so that teams can run analyses and generate insights with analytics tools.
On-premises data warehouses of the past require a significant upfront investment in hardware, license fees, and ongoing maintenance costs to manage. On top of that, their rigid nature makes it difficult for companies to scale them to meet today’s real-time data demands.
Modern cloud data warehouses eliminate upfront infrastructure costs and don’t require the ongoing investment to manage and optimize the data.
Cloud data warehouses make it easy to store massive volumes of multiple data types from an unlimited number of sources. They also enable many people within a single organization to access, integrate, and analyze this data at once via easy-to-use analytics tools, without sacrificing scale or speed. Finally, cloud data warehouse vendors automatically manage data security and privacy compliance updates for teams — all at a lower cost compared to on-premises databases!
An interesting example comes from Yesware, developers of a top-rated sales productivity platform. They were able to join four years worth of website page view data with product trial data stored in Snowflake, their cloud data warehouse.
Using Sigma’s modern BI solution and its familiar spreadsheet interface, the team was able to map every single page view made on the site with anonymous IDs and every tracking event without ever typing a single line of code. Once a user ID was known through a trial signup, they were able to backfill the data and map these anonymous IDs with email addresses.
Within just a few days, four years of page views were completely sessionized. This combined with other data from Customer.io, Google Analytics, Salesforce, Zendesk, and Google and Facebook ads gave the Yesware team a complete view of each customer touchpoint so they could determine which were most impactful.
Identify the Best Prospects
Effective marketing can be summed up as sending the right messages, at the right times, to the right people. Modern BI can help marketers zero in on the right demographics to find the best audiences to target. These tools help companies define their target customer across disparate channels and identify factors like engagement, location, company size, job titles of buyers, and more.
Customers can be ranked by the value and frequency of their purchases, enabling marketers to construct more accurate ideal customer profiles based on common attributes and behavior patterns. Once identified, they can target their marketing efforts on similar prospects.
When hundreds of paid campaigns are running across multiple ad platforms, it can be difficult to understand performance and compare customer acquisition costs. BI tools enable marketing teams to break this data out of these siloes so campaigns can be analyzed holistically.
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Learn how Sigma can help you fine-tune your marketing funnel.