The Importance of Analytics
Today, companies are spending upwards of 25% of their marketing budget on content. Yet studies show that only 30% of this content is being used on a consistent basis. That means that 70% of this content is rarely or never being used. If these numbers are correct, wouldn’t it be beneficial to understand why 70% of your content is not being used? And depending on the reason, to stop spending money on creating content that isn’t relevant or useful?
In Support of the Sales Process
Marketing budgets are being spent on creating rich media files and other apps in support of the sales process. Analytics collected from content usage in the sales process can provide valuable and often vital feedback on how specific content is impacting (or not impacting) that process. A sales enablement solution is a key “gatherer” of data from content usage in the sales process. It’s the conduit for bringing data from the field back into the company’s CRM or other marketing automation systems.
The tools that your salespeople are using, especially rich media apps and files, are important elements of that process. Is it important to know how these items are actually affecting sales? Wouldn’t it be helpful to know where to focus your marketing budget so it is spent in a way that optimizes the time and money spent on files that actually need focus?
Missed Metrics
For many companies with salespeople in the field, there are incremental metrics that are being missed. These metrics include data on what their salespeople are doing in the field, who they are interacting with, how often they are performing certain tasks, or data on the files they are using in remote sales meetings. The metrics should also provide details on how salespeople are using the content. This level of metrics represents a significant piece of the “closing the loop between sales and marketing” puzzle.
High Value Metrics
Just as a CRM provides information required to maximize sales performance, increase team productivity, and close more deals based on leads, contacts, campaigns, and opportunity data, analytics derived from content usage in the field can have the same impact. It adds incremental and highly valuable data based on learning who, what, when and how content is used.
Empowered Sales Teams
Knowing how certain content affects sales opportunity progression can empower sales teams to use the most appropriate content at specific moments to close deals sooner. Determining the most effective or most proven content is a key element in successful sales enablement.
Analytics Gives You Control of the Results and the Pieces
Having access to sales activity gives admins the ability to know what reps actually have on their devices, to verify that they have the right files, and to investigate differences or issues of device users.