61% of companies that invest in data analysis receive ROI in the first year

According to a HubSpot Research analysis from a few months ago, 31.8% of companies are freezing any non-critical spending. so as not to take unnecessary risks. All this due to the complex economic situation, where companies are being forced to adopt control mechanisms over their operating expenses.

However, so that this does not translate into a loss of consumers for companies, it is important that they Know the behavior of your customers in order to focus marketing strategies more precisely. For this reason, the analysis of the customer journey or customer journey analytics is gaining more and more strength. In this sense, it is essential for companies to have tools to analyze the behavior of their customers, since currently users rarely take the same path in their purchase journey, due to the existence of multiple channels and the complexity in the analysis for identify their trajectory in the purchase decision. Knowing how a customer thinks is crucial for companies as it saves time, effort and resources.

The study shows that 29.3% of companies globally believe that their data and systems are not connected to generate a complete vision of customers. What generates that 93.5% of companies spot the strategic disconnect as one of its priorities for 2023.

Information is the most important tool that companies have to generate positive long-term relationships and thus make a difference. “According to the Connected Customer Journey in Iberia study that we carried out at HubSpot, 73% of the companies in Spain that have made this type of investment have shown a return on said investment during the first year, and of these, 61% have seen the return on this investment between the first month and the first year”it states Shelley PursellHubSpot Senior Director of Marketing for Latin America and Iberia.

Given the great load of information generated by an analysis of these characteristics, it is important to take advantage of technology to apply strategies that allow visualize a more concrete pictureavoid misinformation and take advantage of the use of information to face the challenges and opportunities that are expected for this year.

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Exceeding customer expectations is one of the great obsessions of companies right now and it makes perfect sense if we take into account that 73% of companies with an above-average customer experience obtain better financial results than their competitors. (Temkin Group). He Customer Journey Map it is the key tool to diagnose, identify opportunities, innovate and transform the experience. In case there is any doubt… according to a study carried out by Gartner, 81% of the brands that use Customer Journey Maps manage to exceed customer expectations and according to McKinsey & Co they reduce their cost of service by 15-20%, in addition, 25% of organizations intend to integrate marketing, sales and customer experience into a single function by 2023”it states Jose Serrano, CEO at IZO Spain and Director of the Spanish Marketing Association.

In this way, experts in technology and data analysis reveal the most effective strategies to convert the information into a useful guide to improve the focus and business objectives:

Narrative Analysis

This strategy is based on interpreting the depth that data can provide, in an easy, intuitive and agile way, to make decisions in real time that impact every aspect of the business. To achieve this, it is essential to have customer relationship management, as well as to understand what is being measured and for what purpose.

predictive analytics

Predictive data analysis is a process in which historical information is collected, where artificial intelligence is used to find the relationships between certain variables that allow predicting future scenarios. The objective of this analysis is to be able to take preventive measures or take actions to take better advantage of what could happen.

Random Monte-Carlo simulation

The name of this analysis comes from the casino of Monaco to which it refers, because roulette is played there, a mechanism that is perfect for generating random numbers. The main idea of ​​this method is simulation, since, by imitating the behavior of variables, it is possible to observe the possible results and their impact.

A/B experiments

It is one of the best-known analyzes and one of the great allies of any marketing strategy. Its purpose is to test two variants of some element to draw conclusions and apply the results. Whether it is for the launch of a product, the implementation of a campaign or the type of message that best reaches the audience.

data cleaning

This process is carried out mainly when incorrect, incomplete or inaccurate data is detected in the databases so that it can be replaced by verified and reliable information that allows companies to make the best decisions and strategies.

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