What is the role of Marketing Information System (MIS) in Business
Competition, public demand, and market segments are growing. The Transformation of Digital and volatility of the context has greatly complicated the development of campaigns and marketing strategies.
How to channel all the information? What are the best decisions? To answer these questions, 88% of the specialists go to a SIM; the technological solution to the pressing need of the digital environment.
Information Systems Marketing is already operational centers of the major international brands and companies in the world, but still scarce at the level of SMEs and freelancers.
Understanding the SIM
Although it is often referred to as an avant-garde of the technological age, the truth is that the Marketing Information System is much more than a simple set of technological tools.
In it, the people and the methods used are just as important. Implementing a SIM implies being aware of the need to improve business strategies and eliminate inefficiencies.
It is thus intended for a team endowed with specific resources, so that they observe the marketing processes from an analytical perspective, and can determine if the information that is being collected from the market is optimal or not .
The SIM will refine the information taking into account its own needs, to project efficient actions consistent with the initial objectives. In essence, the system is nothing more than the ranking and organization of internal processing filters .
According to HubSpot, it allows you to ” manage, track and record how and with whom you are creating a relationship or conversation about a product or promotion .” The inputs generated thus serve to improve decision-making and strengthen B2C relationships.
Objectives of a Marketing Information System
The purpose of this strategy will depend on the context and the type of company, but ultimately it will always refer to the rationalization of processes and the acceleration in the processing of commercial information.
In a market in which consumer preferences change day after day , and the volume of data generated grows exponentially, the SIM provides real solutions to continue generating value.
Thus, its main objectives include, among other things:
- Improve the layout and reduce the time to search for information.
- Store a high volume of data.
- Generation of information from different sources within the SIM itself.
- Apply constant reviews of the company database.
- Automate department tasks.
- Segment customers and leads.
- Identify trends, problems, and opportunities at high speed.
How it is achieved will always go hand in hand with the company’s resources and the level of urgency that the situation requires.
A business with a completely inefficient marketing department is not the same as a project with minor shortcomings.
Also Read: CRM vs ERP: What is the difference between CRM and ERP?
Philip Kotler already collected three decades ago the parts and levels that make up any Marketing Information System . This structure is what, in fact, defines the action phases of the platform.
- Accounting record: database where all the daily operations of the company are collected. This information comes from internal sources and refers to the management of the business.
- Intelligence registry: a set of means that allow obtaining constant information regarding the environment in which the company, consumers, and other strategic partners operate. Marketing Intelligence is usually used.
- Marketing research: collection, analysis, and processing of commercial information in order to propose valuable solutions through qualitative and quantitative techniques. With this, the company segments and positions itself in the market.
- Marketing analysis: level in charge of obtaining data from the previous subsystems to provide them with efficiency and effectiveness. It is what allows you to improve and adapt the SIM over time.
To articulate the information of the entire system, the most common is to find a CRM as the operating core of the ecosystem. Also valid are websites, social networks, or even e-Mail Marketing.
Any source of information intended to promote the performance of actions by the user are valid to serve as a reference for the SIM. Information from the entire funnel can easily be stored in a CRM.
How is a SIM applied?
As in any other strategy, the implementation phases are structured based on the identification of the need and the coordination of response resources.
There is no magic recipe, but there are certain common elements that can be practical. In short, the adoption of a SIM will depend on:
- Definition of objectives: the questions must offer the affirmative answer that justifies the creation of the new system. This information will allow to guide future actions with a pillar of firm orientation.
- Selection of sources and data: it will be impossible to manage all the information generated. That is why it is important to be clear about what you are looking for and what inputs are necessary to achieve it.
- Training: the SIM will most likely involve the implementation of new software. It is vital to hold meetings, offer transparent explanations and appoint managers to avoid dysfunctions.
- Start-up: the new system will mean migrating databases, carrying out different tests, and eliminating risks by acting with some caution. The time invested will pay off in the long run.
- Follow-up: every strategy requires control and the SIM is no exception. Monitoring —periodic— will serve to debug errors and improve system strengths.