Closed-loop reporting
We share feedback with your marketing and close the loop, enhancing your efforts.
Advertisers can spend time and money into a marketing campaign but unless they know the ROI, new and existing customers, their efforts will not yield fruitful results. Advertisers need to know the answers to the questions lurking on their nerves and pass it on to the sales team. The distance between marketing and sales need to be reduces.
For this analysis, people from the marketing department need a dashboard for lead conversion and to track the number of visitors and to assess which leads can be converted. They need to examine the customer relationship management (CRM) data of the sales team in order to identify leads that eventually became customers and locate the channels through which they entered the funnel. Let’s see, how at ChatPandas we process “closed-loop reporting” is, how we assist marketers in collecting precise data to close the loop, and how to convert closed-loop reporting into closed-loop marketing which is a very important process.
What is closed loop reporting?
The process of closing the loop between marketing automation and sales figures is known as closed loop reporting. Establishing a connection between your sales and marketing efforts so advertisers can know the status of the leads which are provided to the sales team. In a nutshell, closed-loop reporting forces you to examine in real time every minute detail of a lead’s journey from source to close. Marketers can perform better and identify leads, know the source of better leads and know sales efforts through closed loop reporting.
Closed-loop reporting vs. Traditional analysis
Imagine a marketer advertising his products on television, social media or billboards without knowing the number of people this advertisement will reach. Marketing without and statistics is useless and we try to take the ambiguity out of it? At ChatPandas we take the help of advance reporting methods. With our closed loop reporting, we provide transparent digital data gathered from websites. We observe the following steps in this procedure: dropping a cookie for the visitor and monitoring their source; converting the visitor into a lead; forwarding the lead to the sales team; and receiving a report if the lead was successfully converted or not.
How our closed-loop reporting works?
We assemble information from each lead which typically includes where it got to know about the service or the product and then it helps us create a complete picture of how that investor interacts with your online presence, the pages it visits, downloaded newsletter, social media posts and other channels that bring it towards the marketing funnel. Inegrating your marketing automation software with CRM, we automate this process as the lead progresses through the sales qualifying phase. We make it possible for CRM to send data back to marketing automation software via bi-directional sync if the salesperson makes any changes. This simply indicates that the marketing software updates all salesperson actions, from marking a lead as an opportunity to closing an opportunity. Our strategic closed loop reporting means you can obtain measurable results that your team can observe and calculate.
Metrics of our closed-loop reporting
Through our closed loop reporting, marketers can determine the sources that generated the most successful leads and marketing strategies that are the most successful. We can enhance your marketing efforts with our advanced closed loop reporting methods. Let’s see the metrics we use to measure closed loop reporting.
Focus on best-performing networks
We help you determine the proportion of leads coming from a a variety of sources, including organic, direct, social media, referrals, paid media and specific campaigns etc. To get insights into your target audience and get information on which marketing campaign have been the most effective. This helps you only spend time and effort on the campaigns which are working.
Understand your audience
Understand your customers, their interests and the buyer’s journey with our closed loop reporting. You cannot have a successful marketing strategy without understanding the requirements of your customers and the trends of the market. ChatPandas can help you track page visits, blog post reads and downloads once a lead attaches to a cookie. We can help you estimate how many page views, emails, and downloads a lead needs to become a customer with this step. Simplify your lead nurturing process, understand your target audience and better understand your audience with our closed loop reporting.
Reduce cost per customer acquisition
Saving your time and money is our ultimate goal (apart from providing exceptional service of course!). Through examination of revenue-draining campaigns and channels, we prepare detailed reports which can help you in minimizing cost per customer. The only marketing campaigns which are successful are those which evolve over time and our reports help you achieve that. You can allocate your marketing budget wisely as we help you understand the return on investment (ROI) of each channel.
Help sales to close deals
With our state of the art closed loop reporting infrastructure, you can monitor your leads, incoming traffic, website visitors and converted leads. We help you set your marketing and sales goals. With our reporting methods, your marketing department will be able to benchmark, track, set and analyze your marketing goals. Marketers will now be able to forecast statistics and performance more accurately.
Spend market budget wisely
Gaining deep insight into the campaigns which have been the most successful has never been easy thanks to our closed loop reporting. Your will be able to filter out your marketing campaigns based on their success with the help of our comprehensive reporting methods. We help you eliminate weak links and concentrate on the ones that are stronger. This will help you achieve your marketing goals efficiently and in a cost effective way.
Create PPC reports for marketing executives
Your paid marketers can use our reporting to create PPC reports that help marketing executives and clients focus on the big picture. If your campaigns have a dollar inflow to dollar outflow ratio, it will be easier for you to ask for more money. Our reports contribute to the development of a transparent culture in all departments. This data shows how each marketing campaign performed in relation to its cost in terms of leads and sales.
Purchase frequency and customer retention rate
You will receive the purchase frequency, also known as the average number of orders placed by a customer over a given time period, through our closed-loop reporting. This metric shows how your customers responded to your emails, campaigns, and website. Retaining customers is one of the most difficult objectives for genuine marketers; for this purpose, we offer the CRR, or Customer Retention Report. It gives you a correlation of the clients count toward the start and toward the finish of a set time span.
A stitch in time…
Because of our useful data and our advanced reporting methods, you won’t have to spend as much time on trials and will be able to launch campaigns and posts more quickly. Your successful marketing campaigns will be more successful and yield more success. You can respond more quickly to close leads the more you know about their behavior.