More businesspeople are turning to big data to provide them with the insights they need to build a better, more efficient, and more successful company. However, big data is vast, complex, and confusing to manage and utilize. A data management platform provides a cloud-based platform to store, manage, and utilize all company data. It’s also equipped with tools that can simplify analysis and make it easier for businesses to leverage their data successfully. By simplifying big data, businesses can greatly improve ROI, while reducing overhead costs.
Save Money on Data Storage
As the data of a company grows, the data storage requirements grow with it. On-premise data storage is costly, tedious, and often disorganized, and this problem is particularly troublesome for high-growth businesses. With database management software, all data is stored on the cloud, providing you with a convenient, consolidated platform that can be easily scaled to meet your growing needs. By eliminating the need for on-premise storage, you can cut business spending, while enhancing your disaster recovery plan.
Decrease Your Marketing Budget
According to the CMO Council, the average U.S. business spends about 2.5 percent of their annual revenue on digital marketing alone. Factoring in alternate marketing channels, businesses are spending an overwhelming sum of money promoting their products. Much of this boils down to ROI. Businesses with a low marketing ROI will have to spend more on their campaign in order to generate sufficient business.
By improving that ROI, businesses can cut marketing expenses, while gaining more leads from their campaign. A data management platform provides businesses with advanced data analysis, which will inform smarter marketing decisions. With a better understanding of the customer, businesses can refocus their marketing efforts to optimize results, inevitably generating more leads and conversions, while spending less money. In addition to cutting costs, businesses will also improve their earnings potential by expanding their market reach, drawing in new customers, and building a stronger business model that surpasses competition.
Reduce Implementation Costs
Most businesses already have tools in place to simplify data analysis, but those tools often come in the form of expensive software programs that need to be installed on every computer. The installation process is tedious, and as the company grows, businesses need to continually install software for every new employee. With a cloud-based data management platform, the software exists in the cloud and can be accessed on all devices. This eliminates the labor and cost of implementation, while making it easy to scale your software needs to accommodate new staff.
Minimize the Cost of Labor
It requires a lot of time and effort to make sense of big data, and unfortunately for marketers, big data is only growing bigger. As data grows, the complexity of analysis increases, and many businesses will have trouble keeping up with future data needs. A data management platform makes it easy to manage big data, while enabling businesses to analyze and leverage data more quickly. With increased efficiency in data analysis, companies can cut the costs of labor and reduce overhead expenses considerably.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.