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What Your Marketing Department can Learn From Your Inventory Management System

Inventory management software can give marketers the insight to coordinate marketing efforts for omnichannel businesses.

While the omnichannel experience has made brands more accessible to customers, coordinating and tracking marketing efforts has never been more difficult. As customers demand a seamless multi-channel experience, marketers are struggling to centralize all the fragmented information needed to make data-driven strategic decisions.

Fortunately, marketers only need to look as far as their company’s inventory management software.

Deeper customer understanding

A good inventory management system can accurately track and analyze customer buying habits and create a comprehensive view of customer behaviors. Marketing can use these insights to predict demand and plan marketing campaigns accordingly. By knowing what customers want ahead of time, marketing can better align the company’s offerings with customer expectations.

For example, personalized promotions can be sent to individual customers who routinely purchase the same products. When the predicted time for them to re-order nears, marketing can send a reminder email or a coupon.

Improved customer satisfaction and experience

In order to provide customers with an exceptional end-to-end experience, marketing needs to see the full customer journey— from their research stage to the delivery stage.

Your inventory management software can show your marketing department the average order performance and order cycle time, as well as highlight the orders with issues or long wait times due to, for example, inadequate fulfillment processes. With this, marketing can gauge overall customer satisfaction and quickly resolve problems before the customer complains.

Ensuring a steady flow of in-demand products also reduces the risk of losing customers to your competitors.

Increased visibility

Having increased visibility of the supply chain and real-time access to inventory analytics can help marketing outline best practices and plan for the future. Knowing what’s in stock, what’s selling and what’s not can help marketing better coordinate their advertising efforts. For example, a stockpile of a certain product may indicate it’s time for a special promotion.

With these critical analytics at their fingertips, the marketing department can ensure fact-based marketing and re-define their decision-making process.

Track performance of marketing campaigns

With the rise of the omnichannel experience, tracking and analyzing marketing campaigns has become increasingly difficult. Fortunately, your inventory management software can clearly and accurately report the sales metrics for your cross-channel promotions. Centralizing the data makes it possible for marketing to easily see which campaigns are performing and re-allocate resources as necessary, as well as better predict the outcome of future campaigns.

For your marketing initiatives to be successful long-term, your marketing department needs to evolve and change with your customers. In an omnichannel environment, having all your important metrics and information in a centralized location is essential.

Published: 12/12/2018