Krishen Iyer on the Best Marketing Analytics Tools
By David Thompson
Oct 21, 2021 07:28 PM EDT
Oct 21, 2021 07:28 PM EDT
Krishen Iyer on the Best Marketing Analytics Tools(Image by StartupStockPhotos from Pixabay ) (Credit: Getty Image)
Krishen Iyer is a successful entrepreneur who has launched three businesses near Carlsbad, California in the last 12 years. He has also helped hundreds of clients build, re-brand, or sell their own companies.
Iyer's unique background in the marketing industry puts him in the ideal position to offer guidance to younger entrepreneurs. He is especially knowledgeable about marketing analytics tools. He presents his thoughts on how to choose the most efficient and insightful analytics tools in this blog.
Knowing which tools a company needs to gauge its marketing impact is not always easy. All marketing analytics tools have something to offer, but most companies do not need every tool available.
For example, a business may rely heavily on pageview data to understand its performance. At the same time, pageview data provides little insight for the same company's inventory teams. Iyer advises all marketing managers to consider the needs of the entire team before investing in a program. Failure to do so will only cause frustration and friction that can interfere with serving the customer.
After working in marketing for more than 20 years, Iyer has observed managers making rash decisions with analytics programs. Many feel impressed with the number of features a program offers without considering the relevance of each feature. Marketing teams can quickly feel overwhelmed when presented with reams of unsorted data. Accessing an abundance of data is challenging, and it may not even provide the insight marketing teams need.
The last thing any marketing manager wants to do is unintentionally pile more work on employees. Krishen Iyer recommends the tips below to avoid such a scenario.
The most basic function of any analytics tool is to capture valuable data in real-time. Beyond that, the tool should offer the marketing team clear visualizations to help them interpret data in a helpful way. The person or team evaluating the tool should make sure that visualizations are easy to generate. Additionally, the marketing team should be able to generate and modify data at any location in the sales funnel.
Speaking of the sales funnel, Krishen Iyer stresses the importance of understanding the customer experience at each stage. No event happens in a silo, so marketers need analytics software that pulls it all together. Iyer feels that seeing customer journeys from beginning to end is the best way for marketing teams to improve. After all, they cannot fix a problem unless they know that it exists.
Evaluating marketing analytics software from multiple vendors can be challenging. Krishen Iyer recommends that marketing managers create a list of must-haves before comparing products. According to Iyer, any analytics software under sincere consideration must be able to gather data from multiple customer touchpoints. The program should go beyond data collection to offer customer journey insights the marketing team might never have realized independently.
Marketing managers must keep in mind that not all analytics software tracks with the same type of tools. For example, software with online orientation captures data from each customer session on the website. Other types of software focus primarily on events, such as how often customers click a certain button.
Iyer states that the type of analytics software right for a company depends on its business model. Companies that depend mostly on getting traffic to their content should choose software that focuses on sessions. Those that sell digital products would do better with analytics software that captures events.
Capturing data, receiving actionable insights, and understanding customer journeys are all essential features of good marketing software. However, businesses must be able to share the data quickly and easily between individuals and departments. Many companies also need the option to share data across multiple platforms. Cloud-based software with built-in dashboard solutions eliminates the manual tasks involved with distributing the data to multiple parties.
Krishen Iyer enrolled at San Diego State University after graduating from Bullard High School in Fresno in 1998. He earned a Bachelor of Science in Public Administration and Urban Development in the early 2000s. Iyer was a proud member of the Beta Theta Pi fraternity while attending SDSU.
Within weeks of graduating from college, Krishen Iyer began his career in the field of insurance sales. He generated leads and sales, which caused him to become more interested in marketing for various industries. He obtained licensure from the California Department of Insurance in 2008.
Krishen Iyer has used his marketing knowledge to buy, own, and sell multiple companies over the past 20 years. The first company he launched was Name My Premium LLC in 2009, just seven years out of college. He sold that company in 2015. Iyer then launched Managed Benefit Services the following year.
June 2020 saw Krishen Iyer launch his third company, MAIS Consulting. He offers new or struggling entrepreneurs the chance to partner with him in a business mentorship. However, Iyer does not accept every client. He states that he is extremely selective because he wants to give everyone the time and attention they deserve.
Krishen Iyer grew up in Southern California, attended SDSU, and now makes his home in Carlsbad.
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