For many years, businesses struggled to understand the direct impact of their marketing efforts. Traditionally, one of the best ways to measure success was by understanding the number of people who “may” have seen an ad across different channels. And at the time, that was enough.
Enter the age of digital marketing, and transparency into success (while not perfect) became clearer. For the first time, businesses could see which leads were driven directly from their marketing and know their cost per lead (CPL). It was a huge step forward.
We’ve recently entered an age where that’s no longer enough. What makes a lead a “good lead”? How should you prioritize the leads your network is getting? What locations can improve their lead quality? Most importantly, how are the leads you’re getting turning into customers and revenue? Those are the questions we are now in a position to answer with marketing technology, investments in generative AI, and integrations with CRMs or other data warehouse solutions.
Let’s Start With Artificial Intelligence
Before we get to the lead-to-customer and revenue story, let’s talk about the rise of generative artificial intelligence. It feels like AI is everywhere you turn these days. And no matter what you think about it, AI is here to stay. This should be a great thing for your brand and franchise network. AI can quickly analyze data and provide actionable insights, enhancing decision-making and operational efficiency. When it comes to marketing, AI can help optimize strategy, advertising spend, and how to target ideal audiences to improve results.
We’re seeing this firsthand through our collection of digital marketing solutions, RevenueMAX, powered by Scorpion AI. Within RevenueMAX, we have a product, Leads AI that instantly transcribes every call driven by your digital marketing and assesses the potential customer's level of intent and likelihood of booking an appointment and buying from you. With that information, it scores and prioritizes leads based on your locations’ unique needs.
By identifying which leads are most likely to convert to high-revenue opportunities, it helps us refine your marketing to target your ideal customers— knowing where they are and what they're buying — so you can attract more of them.
Lastly, it analyzes each customer interaction to provide suggestions for your team on how to improve their intake and customer experience processes. These are insights that were not possible for most brands at scale until now.
From Leads to Revenue
While understanding the quality of your leads is extremely important, understanding which leads turned into customers and revenue is even more critical. By integrating your marketing with your customer relationship management system (CRM), you can see exactly what is driving customer acquisition and revenue for your brand. Once that information is gathered, you can use AI to optimize your marketing strategy to invest in the channels that are yielding the best ROI / ROAS (return on ad spend). Fortunately, data integration doesn’t have to be a costly endeavor. With technological advancements, brands of all sizes can access cost-effective approaches and solutions to manage customer data and marketing efforts effectively.
Even better? AI and data integration no longer operate in silos, so it’s easier than ever to take advantage. When AI is used together with first-party data, it can facilitate, increase, and elevate a brand’s decision-making.
In Conclusion
The integration of technology has become increasingly vital for brands of all sizes. Yet, many brands overlook the importance of integrating their marketing and operational systems, potentially missing out on valuable opportunities to connect with customers and drive growth.
By knowing exactly how your marketing is performing through the power of integrations and advancements in AI, your brand can take its marketing to the next level.
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