Use Marketing Intelligence to Grow Your Business
Learning Objectives
After completing this unit, you’ll be able to:
- Describe the role of a growth marketer.
- Identify ways to solve common marketing challenges.
Meet the Growth Marketer
A new type of marketer is on the rise: the growth marketer. Are you one of them? If you're an equal part marketer, finance whiz, and data geek, you’re probably a growth marketer. If you’re responsible for driving marketing performance and growing your business—yep, you’re a growth marketer. Balancing creative brand-building and ROI goals? Growth marketer. Are you using data to carefully inform your daily decisions and long-term strategy? You guessed it: You’re a growth marketer!
It’s true, marketers have always been focused on spurring growth, but the marketing analytics tools to do it (and do it well) haven’t always been there. Now, with access to platforms like Marketing Cloud Intelligence, you have what you need to prove the effectiveness of your strategies, draw insights to inform decisions, and ultimately, step into the role of a successful growth marketer.
And while many high-profile brands have replaced chief marketing officers with chief growth officers as a sign of this changing landscape, the shift is taking place across all marketing roles and functions within an organization. So whatever your title, you can join this new class of growth marketers to help ensure the success of your company at a time of rapid industry change.
Put Your Data Analytics to Work
In the past, marketers analyzed a few limited data points infrequently and in the rearview mirror. They reviewed how a product launch or new campaign was performing 30 days in—often too late to pivot and make changes that could instantly impact business outcomes. And when it came to measuring brand awareness and affinities, focus groups held once or twice a year were often the main approach. These tactics don’t cut it anymore. Let’s explore the ways marketing intelligence can help.
Get a 360-Degree View
The challenge: When growth is your goal, you need a 360-degree view of how your campaigns are performing—in real time and across all channels and markets. You can’t afford to have your data living in silos when you’re trying to get a full picture of your customers. But without the right marketing analytics tools, data integration can be a complicated, time-consuming process.
The solution: With marketing intelligence tools like Marketing Cloud Intelligence, you can seamlessly connect your data, no matter the source, and view it within a single dashboard. This dashboard gives you valuable insights and information to inform business goals.
Build Budget Transparency
The challenge: You need to understand exactly how your budget is being spent at every level. Transparency in your business is critical—both clients and the industry demand it. This is no easy task, especially if you manage multiple business units, dozens of channels, and hundreds of product lines—all across many countries. With traditional tools, you need time, technical expertise, and investment to address this big challenge.
The solution: Marketing intelligence gives you the ability to bring together your data analytics in an automated way, to see exactly what’s happening at every level of your KPIs—whether ROI, growth, or loyalty. With tools like Marketing Cloud Intelligence, you have marketing automation tools to establish accountability across your budget and report back on every marketing dollar spent.
Measure KPIs with Confidence
The challenge: You need to go beyond clicks and views to understand which business metrics are being influenced by marketing and how that impacts business goals across the entire organization. (Think: revenue, market share, customer lifetime value, customer acquisition costs, churn, cross-selling, upselling, and more.) Your marketing programs should reflect what the business is trying to achieve overall.
The solution: Marketing intelligence makes it easy for stakeholders across the business to access and understand performance metrics. Once aligned, everyone can collaborate on the goal of driving growth—working from the same facts about what data is available, how it’s being used, and its impact on overall marketing performance. Whether it’s tracking conversion, recurring revenue, market share, or other metrics, with marketing intelligence, your business can align on the key KPIs that support the ultimate goal: total revenue (or total growth).
Create Cross-Team Alignment
The challenge: Developing a system for marketing measurement and analytics isn’t a one-and-done project. You need team collaboration throughout every level and department of your business.
The solution: While many teams operate in their own siloed units, marketing intelligence creates a powerful connection, ensuring that a marketer in any role and function can bring together the data, ideas, and conversations that lead to meaningful business results. This creates a more data-curious team that works seamlessly to provide the best experience for your customers and drive business growth.
Take Control of Growth
The challenge: You need to be able to make decisions in real-time.
The solution: With a holistic view of marketing activities and the right measurement system in place, marketing intelligence tools have set the stage for you to take control of the growth of your business. You can use AI-powered insights to adjust campaigns and budget allocations in real time for the best possible performance. Have a major TV ad running? You’ll have immediate visibility into the level of engagement and metrics across all channels. If the campaign is working, you can instantly double down on the strategy; if not, you can change course right away. Embracing marketing intelligence puts you in the driver’s seat, allowing you to unite all paths to leadership conversations around business outcomes.