In marketing, many types of analysis can be used, one of which is closed-loop marketing, which focuses on data.
Data is the largest source of information and is important in determining further strategies.
Quoted from ClearVoice, customer data ranging from background to shopping habits, if analyzed, will help a company optimize marketing strategies that suit its needs.
So, let’s get acquainted with the closed-loop marketing stuff below.
Arti Closed Loop Marketing
Closed loop marketing is a form of data-based marketing analysis and insights to increase ROI (return on investment).
This form of analysis is the same as data-driven marketing, citing Marketing Evolution.
According to ClearVoice, companies that use closed-up marketing focus on data to inform their marketing strategy.
This helps the company determine what to do and eliminate marketing strategies with little success.
The “closed loop” in this analysis describes how the sales and marketing departments or departments work together to report prospects and feedback on an ongoing basis.
Using closed-loop marketing will help better understand the relationship between sales and marketing.
There are often misunderstandings or different goals between many companies’ sales and marketing teams.
However, the two teams are closely related.
The marketing team also needs sales data to provide an overview and evidence that both are related and affect the ROI value.
This is why closed-loop marketing is needed.
Tahapan Closed Loop Marketing
Quoting Marketing Evolution, here are the steps before starting closed-loop marketing so that the company is culturally and operationally ready.
1. Get support from superiors
To realize closed-loop marketing, you can’t rely on the sales and marketing team but also need full support from your superiors or leaders.
2. Get used to a data-driven culture
Before starting the analysis process, the teams involved must understand the value of collecting, sharing, and analyzing data.
3. Ensure smooth communication between sales and marketing teams
This is where the role of the manager of each team is to ensure smooth communication through meetings or discussions to update progress and data.
4. Review the approach used
You must ensure that this process’s marketing approach and benchmarks are accurate.
5. Get complete data for marketing automation
Closed loop marketing uses a mature approach to provide marketers with more profound and specific data.
6. Verification of the sales process running smoothly
When the sales team is unsure about the sales strategy, closed-loop marketing will not work well.
So make sure their process and strategy go well.
7. Use the right tools
Your data management technology must be able to support omnichannel marketing measurement, marketing automation, and data-driven strategy as a whole.
Tools Closed Loop Marketing
To implement closed-loop marketing, you need supporting tools.
Reporting from Valasys Media, some of the tools you can consider are:
1. Customer Relationship Management Software (CSM Software)
CSM Software can comprehensively view and classify customers’ statistical data.
In addition, you can also get access to information about a business to send customer support, sales force automation, and others.
Some recommended CSM tools include Salesforce, InfusionSoft, NetSuite, Hatchbuck, and CRM+.
2. Software for management of marketing solutions
In addition to tools for customer data management, you also need software to carry out the planned marketing strategy.
Several tools can help marketers achieve their goals through social media and reports, such as HubSpot, Marketo, and Vocas.
These tools will help you from email marketing, customer acquisition, and social media marketing to SEO and PPC optimization.
3. Data management tools
It would help if you had effective data processing software to process and use data in the best possible way.
One example that you can use is Google Analytics.
Besides being widely used, Google Analytics provides visitor data and visualizations that are easy to understand.
How Closed Loop Marketing Works
Launching ClearVoice, closed-loop marketing has a lot of variables that must be used, but in general, the stages and how they work follow the following format:
- Potential customers visit sites from your referrals, such as email marketing or organic search. Then the marketing tools you use, such as HubSpot, will detect the referral source of each visitor.
- You can collect even more user data through landing pages and lead capture forms—for example, CTA and discount code in an email.
- This additional information will provide insight from each page visit on the site. Furthermore, customers who follow this flow will be detected through CRM. If it is not seen, usually, the brand will follow up until it reaches ‘close the loop.’ At this point, you can close the loop because the touchpoint has been detected and can be analyzed.
Well, that was wannawishyou’ summary of closed-loop marketing.
Closed loop marketing helps choose an effective digital marketing strategy and helps calculate ROI that is more precise and measurable.