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

This section contains articles submitted by site users and articles imported from other sites on Marketing Intelligence

Important Points for Enhancing Sales

Success of any business comes from sales. So, as an entrepreneur, if you want to be successful with your business when it comes to making sales and generate revenue, it is important to pay attention to the following five keys: 1. Find the right product or service to sell, 2.  Listen to customers and clients carefully, 3. use your time efficiently, 4. Find the right team and 5. Review your performance. Read more at: http://www.business2community.com/sales-management/5-keys-enhancing-business-sales-01937684#MTZVqqJR0pmA70QR.97

 

 

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Precaution while shopping online

The internet has become an important part of our lives today and has significantly changed our lifestyle by making it easy to it easy to search and find things online. The internet is the sole platform that connects vendors with their prospective customers, thereby enabling a broad range of trade interactions worldwide. Some points that you should remember while doing online shopping are: 1. Avoid using debit card, use virtual credit card, Do not use public Wifi when shopping online, Verify the company’s website security, Check your account statement frequently and use strong passwords. Read more at: : http://it.toolbox.com/blogs/scingularity/5-essential-guidelines-for-secure-online-shopping-78756

 

 

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Designing Effective Emails

Effective emails need effective design. The most important part you should remember while designing your emails is that it should support the goals of your email campaign. Here are three most important things you can do while designing emails to make them better support your efforts. They are: Personalize the mail, design messages for mobiles as more people nowadays use smartphones and  ideally emails should be be short enough to be read on one screen. Read more at: http://it.toolbox.com/blogs/insidecrm/punchup-your-emails-with-these-three-ps-78738

 

 

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Managing Cash Flow

Sometimes, small businesses can not accurately manage their cash flow. You do not need to be a finance person to keep your cash flow in order. You can develop a strategy that fits into your schedule and your business model. The following five cash flow management tips that will significantly improve your business’ financial health are: 1. Know your break even point, 2. Streamline your accounts receivable, 3. Maintain a cash reserve, 4. Extend your accounts payable, 5. Identify which expenses are essential for growth and which are not. Read more at: http://www.business2community.com/finance/cash-flow-management-tips-small-business-01915621#oDfWZ0ZGTO4YxymO.97

 

 

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Planning a successful sales campaign

Campaigns are important for sales. Most business houses are continuously running campaigns to attract customers and convince them to buy. Sometimes, they run several campaigns at once. But, this can get complicated, particularly in a multi-channel environment. Fortunately, your CRM system can help you. However, campaigns need planning. Before sending the first emails you need to plan carefully to get the maximum impact out of your sales campaign. Read more at: http://it.toolbox.com/blogs/insidecrm/planning-a-campaign-78483

 

 

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How to get response from email marketing

Email is the one of the most popular form of direct customer contact today.  But, companies still have trouble getting their emails read. The response rate for business emails is in the low single digits despite all the effort and money companies put into email campaigns. Luckily, there are things that companies can do to make their emails more attractive to their customers and get higher responses. Some of these things are amazingly simple and supported by extensive research. Every email must include a call to action. This is an explicit statement which asks the reader to take the next step in the sales process. Read more at: http://it.toolbox.com/blogs/insidecrm/three-secrets-to-successful-emails-78484

 

 

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Key for success in digital marketing

Today, visual information is important for business. So, info graphics find a special place in today’s marketing strategies or to be specific, in digital marketing. a great user experience on your website must be good as it is a major key to success in digital marketing. Your website is your brand and must offer easy tools to sell products to drive customers to your product. Website landing page must be user-friendly and mobile friendly. You should focus on mobile advertising as more people are using mobiles nowadays. SEO are a must to drive business. Read more at: http://www.business2community.com/digital-marketing/13-keys-success-digital-marketing-single-map-01911356#go2SUvMmqqdiqQKE.97

 

 

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Tips for successful marketing campaigns

Marketing is needed in every business. But, before you start a successful marketing campaign, it is important to get inside the customer's mind.  There is an important acronym AIDA in today’s business world which stands for attention, interest, desire and action. This model is like a purchasing pipe that basically identifies the cognitive stages a prospect goes through before making a purchase. If you like to develop a better understanding of how the customer thinks, then you can use AIDA which was first developed by Elias St. Elmo Lewis, an American advertising and sale pioneer. Read more at: http://it.toolbox.com/blogs/insidecrm/how-to-market-more-effectively-78331

 

 

 

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Business Intelligence can be scary at times

Transparency in companies, publishing dashboards to everyone to keep everyone updated of the progress and not being able to adjust data can be scary for some people. A BI fail in a large corporation, we often consider faulty process or management to be the reason but it might be due to lack transparency between managers, board members and shareholders. Managers always refer to preferring  accuracy over speed, but accuracy takes months to implement so managers tweak the data which makes it useless. Nowadays, new generation managers are politics free and depend on technology and SaaS apps for improvement and speedy delivery of data. They don’t mind sacrificing 100% accuracy to 80% if they can get the job done 5-10 times faster. Read more at :

http://www.business2community.com/business-intelligence/dark-side-business-intelligence-01845255#7ot2lqmRUYVhQfAj.97

 

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Rapid growth of Digital workplace

Organizations are evolving from a traditional environment to  digital workplace reveals that gaining competitive advantage and improving business process are among the top goals of digital transformation strategy. Today, the digital workplace is no longer just made up of managers and co-workers collaborating with one another to complete projects, It’s increasingly populated by ‘virtual employees’ who do not exist in a physically , but play an important role. While AI technology is still in its infancy, it is sufficiently advanced to be working its way into companies in the form of virtual assistants, in certain industries such as banking, virtual tellers and advisors. Embedded into  applications, virtual assistants draw on AI engines and machine learning technology to respond to basic queries. 64% use analytics to improve their customer services, 58% use analytics to benchmark their workplace technologies. Read more at :

http://www.dataversity.net/artificial-intelligence-analytics-accelerate-pace-digital-workplace-transformation/

 

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Voice Conversation matters!

Internet has opened up new possibilities for communicating, from emailing and blogging to mobile video chatting. Most businesses now communicate with their customers through multiple online channels. As brands prioritize this digital experience, they often overlook communicating by voice is faster, easier, and more effective than typing messages. According to the advertising and marketing advisory firm BIA/Kelsey, calls to businesses are expected to exceed 169 billion per year by 2020. These calls are 10-15 times more likely to generate a successful sale or follow-up activity than digital form submissions, which means they are more efficient in generating revenue. Voice is central to communication, and because it’s not strictly an online channel, it presents a challenge for brands that treat digital transformation as a matter of generating clicks and website views. The challenge is particularly acute for businesses that operate in categories such as insurance, lending, travel, or healthcare. In these “considered purchase” categories, consumers typically reach out to a brand after conducting preliminary research online, and are thus well qualified to buy. Read more at https://hbr.org/2017/07/your-customers-still-want-to-talk-to-a-human-being

 

 

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Five Greatest Obstacles to Success in Business

Nobody sets out with a plan to fail, but so often people let obstacles get in the way of their success. They start off towards their goal, full of energy and ambition, and then years later we may find them still stuck in the same dead-end job or dreaming of the life they could have had. The author here, Daniel Milstein, CEO of Goldstar Family of Companies mentioned here that through his own successes in starting up four companies, he figured out a few things that can stall us. They are Time, Lack of Focus, Holding Back, Attitude and Fear. According to the author, one should obliterate the obstacles and move ahead. Read more at https://www.entrepreneur.com/article/297278

 

 

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Consumers Are Rooting For Artificial Intelligence(AI)

According to authors, innovations in the areas of Artificial Intelligence(AI),Machine Learning and Deep Learning are beginning to dominate the technology landscape but the actual user experience and concerns about privacy and security are obstacles that can prevent AI from reaching its potential. Despite it’s negative implications, a Consumer Intelligence Report by PwC, revealed, that most consumers believe AI will help humankind, by solving complex problems, like fatal diseases, city traffic, cybercrime, infrastructure and fraud, that plague modern societies , thereby helping people to live more fulfilling lives. AI could revolutionize  personalized healthcare by analyzing data thus helping in maximizing life expectancy and enhancing wellbeing.AI will expand access to financial, medical, legal and transportation services to those with lower incomes thus emerging  both as a process and a product that instills trust and transparency in consumers. Read more at https://aitrends.com/security/consumers-welcome-ai-despite-lingering-privacy-concerns/

 

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How Machine Learning Helps Companies In Eliminating Decision Biases

According to authors, modern-day marvels are the result of machine learning, which are programs that combine through millions of pieces of data and start making correlations and predictions about the world , by using machines that uses cold hard data to make decisions that are sometimes  more accurate than a human’s, thereby reducing biases. Computers don’t hold any inherent biases, as machine  knows only one approach i.e. the objective analysis and are capable of analyzing massive amounts of information, thus having  a distinct advantage over humans.  Utilizing the data for machine learning, can uncover contradictory and surprising results by  making data more accessible, more understandable and  enabling the organization to achieve a new level of business intelligence, thus empowering decision makers at all levels with a powerful tool. Read more at https://aitrends.com/machine-learning/machine-learning-cure-decision-bias/

 

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How Artificial Intelligence Is Powering Retail

According to authors, the development of Artificial Intelligence (AI) creates several opportunities for retailers to improve their customer services , insights and business processes.  AI makes it possible to generate insights on a scale like never before, it does this by combining customer data  across all platforms( from social media to CRM) like past purchases, search habits, click behavior, age, gender, season of the year and various other variables and self learning algorithms. By crawling the web and aggregating various forms of customer data, AI gives retailers the opportunity to engage with customers on a more personal level. Through chat applications such as Facebook and Messenger and by using chat bots on websites, the potential customers can communicate with the retailers using speech or text, that will assess and answer customer queries, thereby assisting in the selection process and helping in the execution of simple tasks. Read more at https://aitrends.com/retail/robots-ai-retail-8-things-must-know/

 

 

 

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Difference between business analytics and business intelligence

Business analytics and business intelligence are like two sides of a coin. But there is a difference between them. Business analytics is like an umbrella term and intelligence is a part of it together with other aspects of business applications. Once a person runs a business, that person will be able to understand the difference between them, that is, business intelligence is like accessing to all kinds of business related data and software's and put them into the analysis. Business analytics is something using your business intelligence into your data and optimizing the performance of the business. To have a successful business, it is important to follow both. Business intelligence is generally used to look over the previous data, whereas business analytics look to the future needs of the business. It's necessary for a businessman to understand its difference for making any business decisions or predicting for the future. Read more at: http://www.analyticbridge.com/profiles/blogs/business-analytics-and-intelligence-compared

 

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Tricks to spot perfect customer

Marketing the contents those appeals to the customer or the client is best method to attract them. For this purpose, a good and catchy title having numerals and adjectives could do a lot good to the firms. Giving incentives and offers can help to identify the genuine customers and give many details about them. Also creating market content has 3 stages i.e. awareness among customer about your firm, consideration about other competitors and decision of the customer to select your brand or some other, hence care must be taken for each stage to attract the targeted customers.

Read more at: http://www.business2community.com/customer-experience/3-marketing-tactics-land-dream-customer-01832390#2uJv11PDEbHeKFVm.97

 

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Better Data Integration leads to better business growth

Data these days are easily accessible and interpretable by companies and are consumable by business stakeholder to optimise business decisions on the go. Business Intelligence software enabled the visualization and deciphering of data but it failed to understand the correlation in the data. Hence, Business Optimization evolved from BI and enabled stakeholders to get wider insights on data interaction and optimize business growth. This free passage of information allows the organization to further utilize raw data only if the company has industry-wide open API standard. Together it is called AoE (Analytics of Everything) now enables organizations to go through an integrated combinations of people, processes, data and technology to have greater insights on the business. Read more at :

https://www.domo.com/blog/transforming-your-data-from-intelligence-to-optimisation/

 

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Why Social Business Intelligence is the next big thing in data management

With every passing day, improvement in technology keeps making our lives easier and more organized. Social business intelligence is a technology which allows systematic data sharing, computing and analysis to obtain an efficient market data through different social media analytics. It is of utmost importance for companies today to have an efficient business management system which is capable to deal with huge databases coming from social media and IT systems. Also, the systems should be accessible and cost-effective. But, the occurrence of cyber hacks and security impeachments hamper the growth of this market. In the coming years, open-source software framework systems like Hadoop and MapReduce will benefit the companies in efficient data management. FMI reports suggest that business intelligence tools are likely to take over the BSFI, IT and the telecommunication sector by 2017. Read more at

 http://www.business2community.com/business-intelligence/social-business-intelligence-become-important-enterprises-01826088#zh5mpOHGhiZODQ7Y.97

 

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Personalized Marketing

Personalized Marketing is all about using customer information- their interests and behavior and to deliver the valuable information at the right place, at the right time, to the right person. It is valuable because we are barraged with so many generic ads that it gets fade away into the background. Furthermore, personalized marketing filters out all the gratuitous information and gives control to the consumer. It takes into account that customer is a narcissist. There are certain benefits of personalized marketing. Its main goal is to increase sales. It helps in building strong relationships with the customer and improving their experience with the brand. Personalized marketing technology works on analytical data. So, the more data we use, the easier it will be to make informed choices.  But, it is a major challenge to gather the right data and understand the customer's interest and behavior. Read more at: http://www.business2community.com/marketing/what-is-personalization-in-marketing-01871212

 

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