SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Cost Justifications for CRM in Small and Medium-Sized Businesses

David Gillman (Analyst with Studio B), writes in his article, about five cost points most SMBs evaluate when looking at CRM systems and also companies need their own numbers in the return-on-investment equations. They are – Lost Sales, More Accounts per Salesperson, Reduction in Marketing Time, and Faster and More Accurate Reporting and Forecasting, and Reduced Salesperson On-Boarding Time. Read more at: http://it.toolbox.com/blogs/insidecrm/5-cost-justifications-for-crm-in-small-and-mediumsized-businesses-70452

 

 

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Big data in increasing ROI of an enterprise

The quality of big data is more important than the quantity of big data. Three types of data a company should be stressing on:
1. Social data- Marketers are now focused on estimating the number of followers of the company website, and its products now that there are ample opportunities to share the knowledge of their products in social platforms like, Facebook, LinkedIn and Pinterest.
2. On-line IDs- Data has taken marketing to a whole new level. Data can be collected and used to personalize messages and send offers through mediums most preferred by consumers. This is often done by connecting off-line data with on-line identities.
3. hard-to-find data- Enterprises produce large quantities of data everyday as a by-product of their day-to-day business transactions. Many companies, realizing the benefits of monetizing these data assets are making it available to other firms and the fact that the data has already been mined and sourced, adds value to the whole procedure.
Read more at:

http://www.business2community.com/big-data/3-big-data-types-will-increase-roi-01257959

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Business Depends On Its Customers: An Insight

According to the 5th annual Sensis Social Media Report, the percentage of small businesses with social media accounts has declined from 37% in 2014 to 31% in 2015. 68% of the broader population use social media sites, 61% of small businesses don't know how much they spend on social media each year, with just 17% actively measuring return on investment. 57% of small businesses don't know whether they've recovered their investment in social media. 70% of consumers' access social media from a smartphone, 52% use a laptop, 34% use a tablet and 28% rely on desktop computer. To know more, please read this interesting article by ANDREW SADAUSKAS (tech-company editor) at: http://www.smartcompany.com.au/technology/social-media/46997-small-businesses-flying-blind-on-social-media-and-some-are-walking-away-report.html 

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Strategy for Social Media

Nowadays businesses are vying for customers’ attention and making strategy on how to attract customers to your site and convince them to buy. One important strategy is to offer value in the form of content. The content is a powerful tool that business house can use to boost brand and elevate sales. It was found that 40% of marketers report that inbound marketing, including content such as blogs and social media, demonstrate positive return on investment for a company. According to research by Ipsos OTX, photos are the most popular form of content shared on social media. To know more, follow: http://digitalmarketingmagazine.co.uk/social-media-marketing/how-engaged-are-your-social-customers/1225

 

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Content Marketing: A Study

According to a study by MarketingProfs and the Content Marketing Institute, it was found that Business-to-consumer (B2C) content marketers struggle tracking their content marketing return on investment (ROI). According to another study by B2C Content Marketing: 2015 Benchmarks, Budgets and Trends—North America, Only 23% of B2C marketers say they are successful at tracking the ROI of their content marketing program, and nearly as many (21%) do not track ROI at all. Read more at: http://www.marketingprofs.com/charts/2014/26252/2015-b2c-content-marketing-benchmarks-budgets-and-trends

 

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What things to consider while purchasing CRM Software

Customer Relationship Management is important nowadays. While considering  Customer Relationship Management (CRM) system, one has to consider cost, whether the CRM software meets the standards of the users meeting users’ needs, whether it is user friendly or not, and whether the system portrays user feedback.  Price should be the top consideration while purchasing a CRM System. Return On Investment, adoption and feedback are other things to be considered. One has to listen to users and take action based on their suggestions. To know more about CRM, follow Jerri Ledford (writer of business technology)’s article link: http://it.toolbox.com/blogs/insidecrm/does-your-crm-make-a-good-first-impression-62894

 

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Returns from Big Data is based on trust

Results show that over 75 percent of the organizations have gained big payoffs with the application of big data and analytics in their organization. Also the Return on Investment (ROI) has increased within six months of application. Certainly executive support as well as their involvement in analytics is vital to value creation since in organizations with low levels of executive support, analytics implementations are hampered by lack of funding, resources and follow through. Besides, strong governance and security are important in instilling confidence in the data, and trust is necessary. Also the direct factor which has implication on organization's value is the trust between people within an organization. This is not trust in the quality of the data but the old fashioned trust that is earned by getting to know someone's character and what they are capable of delivering. The level of trust - a belief that others will do a competent job, deliver on promises and support the organization's best interest - among executives, analysts and data managers significantly impacts the willingness to share data, rely on insights and work together seamlessly to deliver value. Read more at: http://www.informationweek.in/informationweek/perspective/286293/roi-about-trust

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Integrated Marketing driven growth: An insight

With the advancement of measurement and analytics, the pressure on marketers to demonstrate return on investment also advances. According to McKinsey & Company, an integrated marketing approach is essential to uncover meaningful insights and drive growth. Integrated measurement reduces biases in any one measurement method and enables leaders to identify which activities produce the best return.  Standout measurement approaches include: • Marketing mix modeling. Marketing mix models quantify the sales impact of various marketing activities and determine the effectiveness and ROI for each.

• Media measurement. Marketers can measure the reach, cost and quality of components to assess performance — more specifically, the number of target consumers reached, the cost per unique touch and the quality of engagement and/or media placement. 

• Attribution modeling. Attribution modeling, or crediting converting traffic to online touch points, has become increasingly important for media buying and marketing execution.

In order to boost marketing ROI companies use: 

• Marketing mix modeling to track how well each activity generates audiences; 

• Attribution modeling to pinpoint which activities within the marketing mix generate the most conversions (such as search vs. display marketing in digital)

• Media measurement to monitor marketing activities via print, which will help it capture a new audience and generate more revenue.

Although some companies rely on one analytical technique, organizations that use an integrated measurement approach will see the optimal ROI.

Read more at: 

http://www.cyberalert.com/blog/index.php/using-integrated-marketing-measurement-to-make-better-decisions/

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Social media advocacy: nurturing from inside

An article by Matthew Peneycad, advertising agency expert in social media, conveys that on social media, advocates can greatly enrich the experience of your community, contribute to the promotion and dissemination of your content, alleviate demands on your customer service team, expose key insights that can be applied to your business planning and strategy, and provide broader exposure for your organization across the social web. They can provide meaningful input, ask interesting questions and provide responses to audience members. Through their personal social listening and activity in various social networks and communities, they can expose insights that otherwise would be of great challenge to identify and substantiate.

 

 

To know more visit http://socialmediatoday.com/rgbsocial/2422351/nurturing-social-media-advocacy-inside-out  

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Adoption of cloud computing in call centers

Nowadays businesses are adopting cloud computing technology to enhance customer satisfaction in call centers. This technology helps the employees by providing updated information about the customers which allow them to easily manage customer needs. A cloud based call center also offers better return on investment. The employees can access the cloud from anywhere with an internet connection which helps in reducing costly on-site installations.

For more information follow

https://www.fonality.com/industry-news/what-are-benefits-moving-call-center-cloud

 

 

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Recent comment in this post
Nitin Sinha
good work.
Thursday, 27 March 2014 15:59
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