More than Marketing: How Form Analytics Influences Business Decisions
Learn how your marketing leads can give you useful information to improve your whole business, and how LOOP Analytics can help make this happen.
Folks easily silo their various platforms and tools assigned to separate business units, but marketing analytics can help with so much more than… well, marketing! Your marketing-generated leads offer a wealth of information you can use to impact your whole operation, and LOOP Analytics can help you achieve this.
Thomas Jefferson once said, “Not all leads are created equal.”
I think.
Okay, he didn’t say that, but this sentinement holds true. Learning the elements of a quality lead allows a business to create a targeted digital marketing strategy and provide insight into operational areas like inventory, supply chain, and pricing.
We’ll share how form analytics via LOOP can step up your marketing and business operation, backing this up with a customer story where lead data inspired a new product offering.
Get LOOPed In
Unfamiliar with LOOP? Let’s catch you up! It’s a form analytics and web marketing analytics platform capturing:
- Complete form data, including comments
- Channel attribution
- Web event tracking like landing pages and asset downloads
- The lead’s company data pulled by the User Behavior Tool
Within this treasure trove of marketing data lies information you can leverage for other areas of your business.
How to Support Business Decisions with Form Analytics
Going beyond how prospective customers engage with your company, you can also narrow in on information helpful to keeping future customers happy. Leads share insights into operational needs like inventory, supply chain, human resources, pricing, and customer retention. Keeping tabs on this keeps you ahead.
Inventory
Leads inform supply and demand—guiding you on what to stock. They could highlight value-adds or items to discontinue, spot seasonal trends, and inform sales forecasts.
Supply Chain
Leads can highlight areas for process refinement. For instance, if prospects are rolling in from a specific area, consider geo-targeting your marketing, and then go beyond that by thinking of efficiencies like bulk shipping. Other light bulbs include new suppliers, distributors, and warehouses. Dream big! It could even indicate expanding to an additional location or storefront.
People Power
If you are getting a lot of action from a region, you may need to hire an area sales rep or a whole team for a new location. Plus, the lead data surrounding inventory or services requested could signal hiring needs in other spots of your organization. Finally, a lead is a connection and may work for or mention other companies and technologies that complement your process or product. Do you smell a potential partnership? We do.
Pricing
Pricing strategy can be tricky, but LOOP connects leads to your eCommerce activity. You can see what folks are willing to pay by comparing the quantities inquired versus the quantities purchased, and you may even learn budget info or competitor pricing. Buying patterns can also inform bundling options or discounts. Plus, sales and marketing can use these patterns for recommendations based on what customers pair together.
Customer Experience
We’ve talked a lot about forms, but most B2B companies receive two to three phone calls for every form submission. Even if you’re B2C, call analytics offers a vast amount of lead data that influences conversions and customer retention. Phone call recordings spot lead quality and allows your internal team to learn from customer conversations. This data feeds team training and internal standards, improving the overall customer experience.
Arm-Tex Steps Up Their Game
A direct distributor of OEM parts and equipment, Arm-Tex offers products from the leaders of fluid transfer systems and measurement equipment. They partnered with OuterBox in 2010 and utilize LOOP for their digital marketing strategy.
After several references in lead forms, the form analytics from LOOP revealed a business opportunity to offer a product called Weld-A-Step. They supplied a competitor product with similar applications that sold well, but decided to capitalize on this specific demand with their own product.
After snagging the rights to sell Weld-A-Step, we got to work on the website content and SEO. Within six months of launch, Weld-A-Step was the 7th most visited page on the Arm-Tex site, bringing in 1887 visits and 22 conversions in that timeframe. Teamwork made the dream work!
Get Business Smart with LOOP Analytics
Powering a well-oiled revenue machine takes lead data, from calls to forms, so companies can make data-driven decisions on marketing and operations. As your knowledge grows, so does your business.
To get this knowledge, you need a form analytics brain—that’s where LOOP comes in. Contact us today to get a demo and see the smarts at work.
