Get your existing data analyzed in Dynamics 365 (both sales and marketing data). Find out what you’re using and at what level.
The result of such a data analysis should give an insight into whether you are making full use of your existing data, and that insight should be translated into direct actions, either measures you need to change, stop or make more use of it.
In short, you need to increase business value using data and analytics.
A data analysis will be able to find trends that are not visible if you just look at a single data point. The combination of several points can give a more accurate picture of what works and what doesn’t.
Going forward, it will be even more important that the sales process is adapted to the customer journey.
A data analysis must be able to show where in the customer journey leads are located, so that the sales and marketing activities are targeted and coordinated.
An example might be that a certain source drives a lot of visitors to your site. Here it may be obvious to do more to drive even more traffic from the same source.
A deeper insight will be able to show more connections. Maybe there is a lot of traffic from a certain source, but the conversion rate is lower than the traffic from another site, which again does not deliver a large number. It could also be that the Life Time Value (LTV) is lower, that the CPL (Cost-per-Lead) is higher, that visitors are in your upper funnel and are therefore not as qualified as you might think and that you should therefore approach them differently in your sales process than before, etc.
Maybe a lot of buzzwords, but if you don’t have insight into that kind of data, you’re working more on gut feelings than fact-based. The companies that have control over this insight are the ones that perform the best.
If you do not know how to analyze your data, or do not have the skills internally within your organization, contact and use external resources.
You must make an active choice whether you want to make more use of your data. If you want it, you need to get hold of someone who can help you.
Learn from existing data as your starting point and learn how you can work smarter and more efficiently in the future.
Going forward, how can the new insights be replicated and used actively?
If you have analyzed existing data and it has given you new knowledge, a natural question will be how do we get the same insight into our future work and how can we be proactive?
You must ensure that the data analysis is correct and takes place continuously. It must be easy to gain insight and data must therefore be made visible in e.g. a dashboard. Microsoft Power BI has a standard integration with Dynamics 365, and it’s easy to create simple views that can help ensure constant insight into your data.
To the right is an example of a dashboard showing a marketing funnel. It could just as well be a sales funnel or something similar. The point is to make data visible with selected KPIs, so that the sales team can quickly gain insight and form an overview.
(We have several standard dashboards that fit data from Dynamics 365 – plug and play solutions. Contact us for more insight into the options)
Start simple and visualize the data you work with daily, and make sure that the visualization gives you a good overview that you don’t have today.
Next, work to automate as many elements as possible.
Data must be easy to gain insight into, and if it takes too long to collect and analyze, the experience is that you don’t have time for it in a busy everyday life.
If sales need to be able to see where a prospect is in your sales funnel, or how qualified it is relative to the data you have about that person, then it needs to be simple and easy to see.
If it is a marketing campaign that is activated, you must have continuous insight and not only analyze when the campaign is finished.
The goal of visualizing data is that you are at the forefront and can act proactively. If the data analysis does not take place continuously, you will quickly end up where you are now – with a lot of data and no real insight that you can act on.
Plan how to ensure that this does not happen and decide what insight should be available on an ongoing basis so that you have optimal conditions for success.
With the new insight into your data and analyses, which have given you new knowledge, you must be able to create concrete goals for your further work.
You will discover that your processes and activities must be adapted on an ongoing basis. As you gain additional insight, you’ll be able to see what works and what doesn’t. The difference is that you can now quickly do more of what works and at the same time get the things changed or stopped that don’t work.
Our recommendation would be to have a decision document drawn up.
Pick a few areas where you want to make an effort or where you think you’ll be able to get started quickly.
Describe how you would like to work in the future and how data should support your decision-making process. Then make sure you have the necessary data available or plan how to get it. Then set goals and plan how to achieve them, but also how to analyze so you can act on the insights you get.
We recommend that a decision document will be prepared that describes all these parts.
Finally, you collect all the parts in a project folder, record the various processes and divide them into individual work tasks.
These were just 3 different measures you should take, but we could have easily described even more options.
Whether these 3 initiatives are the right ones to start with for your business, or whether you should start others, depends on where you are at the moment in terms of exploiting the potential of your data, thus getting more value out of your investment. Maybe you are somewhere else and therefore need to start differently?
You are welcome to contact us and have a non-binding conversation about your options. We have more than 10 years of experience in advising on data in Microsoft CRM and Dynamics 365.
After reading the 3 steps, consider whether you are already exploiting the potential of your data, and if not, why?
As long as you do what you “normally” do and don’t start making decisions based on data, you won’t utilize the potential of your data, and thus you won’t get the maximum value out of your investment in your marketing system. It requires the right skills to be present in order for you to get a return on your investment. Unfortunately, the focus on this area is often almost non-existent in many companies.