We connect your customer feedback data with your marketing campaigns.
We connect your customer feedback data with your marketing campaigns.
No matter how much energies and budget marketers have invested into certain product’s campaign, few questions stay lurking on their nerves that evaluate their marketing initiatives. They need to know about the ROI ‘Return on Investment’, new customers and the efforts that worked. Alongside, the sales team also needs to understand the gains of those efforts for more prospects, especially new clients.
For such analysis the marketers need a detailed dashboard that may provide them the accurate facts and figures of visitors-to-leads and then leads-to-customers journey. They need to look into sales team’s CRM data to identify leads that turned into customers and also trace their footprints back to the channel that slid them into the funnel. Through this post we will guide you what ‘closed-loop reporting’ is and how we help marketers to collect exact data to close the loop and how to turn closed-loop reporting to closed-loop marketing.
What is closed-loop reporting?
‘Closed-loop reporting’ means closing the loop between marketing automation system and sales figures, which is generally seen in CRM. We create a connection between your marketing and sales activities that make the marketers know what happened to the leads they sent to the sales team. In short, through closed-loop reporting we make you review the minute detail of leads journey from source to close in real time. It helps marketers know the sources of best and worst leads and make an effective plan that may work even better in future.
Closed-loop reporting vs. Traditional analysis
Before shedding light on what our closed-loop reporting is, let’s take a look on traditional marketing analysis which by and large focuses on assumptions. Imagine a marketer publicizes his product through billboards and TV, how come he can get the true figures about the view count? Won’t it be like counting stars at night; no clue where to start from or where to finish, ending up at mere vague statistics? On the other hand our closed-loop reporting provides digital data gathered from website that has got no ambiguity in it. In this process we observe following steps starting from dropping a cookie for the visitor and keeping an eye on his/her source, its conversion into lead, forwarding of lead to sales team and then getting back the report of either the opportunity was won or lost.
How our closed-loop reporting works?
Our working starts with the compilation of data from lead in form of contact record that also depicts the website (source) through which it found you. We draft a clear vision of lead’s engagement on your site regarding its browsed web pages, blog posts, email and other channels that drive it into the marketing funnel. As the lead becomes sales qualifying, we automate this process by integrating your marketing automation software with CRM. Through bi-directional sync we enable CRM to send data back to marketing automation software in case there are any changes made by the salesperson. It simply means that all actions of salesperson from marking a lead as opportunity and opportunity to closed are automatically updated in the marketing software. This way we provide logic based measurable results to report back to your client or boss.
Metrics of our closed-loop reporting
Our well-defined picture of lead’s journey from source to close helps marketers identify the best source that generated customers and also about trends that won in a specific marketing strategy. It bangs the improvements of your marketing techniques in several ways.
Focus on best-performing networks
We help you measure your most working customer acquisition sources and facilitate you to determine the visitors’ percentage coming from various sources i.e. organic, direct, social media, referrals, paid media, specific campaigns or others. This information directs you into strong insights about your target market and focus on advertising networks and campaigns that are most cost-effective to save your time and budget.
Understand your audience
Understanding your customer needs and evolving products vis-à-vis is a key to marketing gains. Our closed-loop reporting helps you analyze your visitors’ interests and behaviors. Once we attach a visitor to cookie, it enables us track the exact page visits, read blog posts and downloads. With this step we help you estimate the page visits, emails and downloads that a lead needs to be converted into customer. This way makes lead nurturing notably easier and also provides useful review of your target market as a whole.
Reduce cost per customer acquisition
We prepare easy-to-read granular reports for a close analysis of campaigns and channels that are actually draining your revenue. We give you a bird’s eye view of the high-level detail that helps you optimize cost per customer. Successful marketing campaigns are evolved over the time, through trial and error and for it reports are helpful if you understand. Allocating your market budget has a direct impact on company’s growth and we help you clarify about the ROI of each channel.
Help sales to close deals
Setting marketing and sales goals is one of the most important steps in marketing process. Without goals how can you measure success? With our closed loop reporting infrastructure you can keep a close eye on full funnel visuals of traffic, leads and customers statistics. By analyzing them your marketers can easily benchmark, trace and set goals. Setting goals on basis of real data, avoiding assumptions your marketers can foresee the fruits of in process deals more precisely.
Spend market budget wisely
By analyzing our closed-loop reporting statistics you can better understand the channels and campaigns that are bringing in most leads and revenue. Our reporting will enable you to use your budget on the most lead concentrated sources. We will help you drop weak links and focus on the stronger ones. Our reporting will help you stop wasting money on the schemes that aren’t working. As a result you will achieve your marketing targets in the best possible way.
Create PPC reports for marketing executives
Through our reporting your paid marketers may create PPC reports for marketing executives and clients which help them focus on the big picture. A dollars in/dollars out ratio of your campaigns makes it easier for you to ask for more budget. Our reports help promote a transparent culture across all departments. This data gives a clear approach of how each marketing campaign generated leads and sales in comparison with the cost of campaign.
Purchase frequency and customer retention rate
Our closed-loop reporting will provide you the purchase frequency which means the average count of orders that a customer makes in a specific time period. This metric brings forth the response of your customers to your emails, campaigns and website. One of the most demanding goals of real marketers is to retain customers and for it we provide CRR ‘Customer Retention Report’. It provides you a comparison of the customers count at the beginning and at the end of a set timeframe.
Stitch in time and save nine
Our workable data will help you decrease the time spent on trials, you’ll rather work faster on launching campaigns and posts. The more you know your leads’ behavior the more quickly you respond them to close leads. Stop wasting time on conveying the information they don’t need and mark ‘closed’ in the shortest possible time.
Closed-loop reporting: a solution to marketing data nightmare
Our closed-loop marketing serves you bundles of marketing benefits. They enable marketers to:
- Gear up efforts on the most productive channels and campaigns
- Make workable marketing decisions
- Sketch perfect personas through insights of your traffic
- Develop smarter marketing and communication skills to shorten the sales cycle
- Initiate accessible targets
- Deliver clear facts and figures to higher authorities to create mastery and focus on value
- Sustain lower cost/lead rate through insights of sources and efforts that fish most ROI