Marketing data has come a long way. The insights we can now glean from marketing analytics give us the power to make huge strides in how well we do our jobs. Of course, the path from marketing data to clear, actionable dashboards and reports depends on some pretty powerful tools.
Business intelligence (BI) tools can make that path possible, but come with a number of challenges and difficulties…
Challenges to BI Implementation
BI implementation can be a long, hard road to value for marketers. Below are some common pitfalls to consider when debating a rollout.
Setting up a BI product requires a lot of different people to complete a wide array of tasks over a long period of time and somehow coordinate it all so everything comes together. Someone has to handle all the technical requirements to get everything set up and then you have to deal with the difficult process of getting all the data you have from the various tools they reside in now over to the BI application.
As if your team didn’t already have enough to deal with every day.
None of the people in charge of making this work are working for free – neither those already in-house nor those you hired specifically for the task. Whatever the sticker price for the product itself will ultimately be one small part of what you spend to use it effectively over time.
And you should expect the extra work and cost to be ongoing. You’ll need to spend more in the first few months to get things up and running, but getting your data into the product and using the tool itself over time will require time from your staff.
Most businesses that purchase a BI product will likely spend time evaluating the various options before making the decision to buy. So before you even start, you’ll probably have already spent some real time on this process.
Implementing the tech once you have it can take anywhere from 6-9 additional months on top of that. You’re spending money for this product long before you’ll reach the point of getting any value back.
It’s not purpose-built for marketers.
Ultimately, the strength of BI applications is their ability to visualize any data set in a highly customized environment. The corollary of that, however, is that they are not designed with the marketer’s needs in mind. They can be retrofitted to serve marketing alongside other departments of your organization, but not without effort.
Marketing Performance Management is Faster
When you buy a marketing performance management solution from Hive9, a lot of the work described above will be taken out of your hands entirely, and you can expect what’s left over to be far more manageable.
Hive9’s staff provides their expertise in the set up process to get you up and running. We build the dashboards for you – based on your input for what should be included. And the product is designed to be easy to link with all your other marketing technology products, so getting your data into the platform is actually easy.
Most of our customers are actively using the product within 30 days of purchase. You can get to those marketing insights faster, more easily, and with less cost. Let us show you how.Icon made by Freepik from www.flaticon.com is licensed under CC BY 3.0