Introduction to ERP Solutions

ERP solutions can help streamline your business processes, including your marketing strategy. But what exactly is an ERP solution? ERP stands for Enterprise Resource Planning and refers to a software system that integrates all the functions and processes of a business into one centralised system. This includes finance, HR, supply chain, marketing, and much more.

You might be thinking, why do I need an ERP solution for my marketing strategy specifically? Well, incorporating an ERP system into your marketing efforts can bring numerous benefits. From improved data management to more efficient campaign management, ERP solutions can revolutionise the way you approach marketing.
In this article, we will discuss the ways in which incorporating an ERP solution into your marketing strategy can benefit your business, so make sure to read till the end.

Common Struggles in Marketing Related to ERP Solutions

The field of marketing is dynamic and complex.  Being an entrepreneur, you are all too familiar with the difficulties of marketing.  Siloed data makes it difficult to see the complete picture of customer interactions, and manual data entry is a headache. In the article by Parseur, companies face difficulties with manual data entry, leading to inaccuracies and delays.

ERP solutions can help you overcome these common hurdles. With a single source of truth for all data, you can bid goodbye to manual data entry and reduce the risk of errors. Real-time analytics and insights let you make informed, data-driven decisions about your marketing campaigns. Get ready to streamline your marketing processes with ERP solutions like MYOB Advanced.

Top 5 Ways ERP Solutions Can Transform Your Marketing

ERP solutions integrate all the key processes of a business into one system, making it easier for you to manage and track data, and make informed decisions. Here are five ways ERP solutions can revolutionise your marketing strategy:

1. Centralised Data Management

Managing data from multiple departments and systems can be a nightmare. But with an ERP solution, you can centralise all your data into one system. This means that you will have a single source of truth for all your marketing data, making it easier for you to access and analyse it. A centralised approach to managing customer data is a must-have for the majority of growing businesses. A whopping 78% of companies have made this part of their customer data strategy, reaping the benefits including improved efficiency (64%) and business growth (57%).

A centralised data management system can also improve your marketing efforts. For example, you can use data from your sales team to inform your marketing campaigns leading to more effective and targeted efforts.

2. Customer Relationship Management (CRM)

Customer relationship management (CRM) is essential to any successful marketing strategy, as it helps businesses understand and maintain relationships with their customers. However, integrating CRM systems with other business processes can be challenging. Fortunately, an ERP solution with a built-in CRM system can help businesses overcome this challenge.

By implementing an ERP solution with built-in CRM, businesses can have a single source of truth for all their customer data, leading to a more seamless and effective marketing strategy. For example, imagine a customer contacts a business to make a purchase, but the sales representative does not have access to the customer’s recent interactions with the business. This can lead to a negative customer experience, potentially resulting in lost business. However, with an ERP system with built-in CRM, all customer data is centralized, providing a comprehensive view of the customer’s interactions with the business.

In addition, an ERP solution with built-in CRM can automate many tasks, such as sending personalized emails, targeted marketing campaigns, and follow-up communications. This saves time and increases efficiency, allowing businesses to focus on building and maintaining relationships with their customers.

3. Improved Campaign Management

Currently, most businesses rely on spreadsheets to manage their campaigns, with 77% of respondents in a Martech survey identifying spreadsheets as their primary tool. However, spreadsheets can be problematic due to errors and multiple sources of truth, which limit traditional campaign management’s effectiveness. The rigid structure of traditional campaign management can also hinder marketing efforts as it cannot adapt to changing market conditions.

Fortunately, using an ERP solution like MYOB advanced can streamline campaign management processes by allowing businesses to plan, execute, and track their campaigns from a single system. By centralizing campaign management, businesses can develop more effective marketing strategies.

For example, ERP systems provide real-time insights into campaigns, allowing businesses to adjust their strategies based on the campaign’s performance, ensuring the best possible results. Overall, an ERP solution provides a more efficient and effective way of managing campaigns and improving businesses’ marketing efforts.

4. Automation of Marketing Tasks

Marketing involves a lot of manual tasks, from data entry to email campaigns. With an ERP solution, you can automate these routine tasks. Through this, you can free up your time and resources to focus on more important tasks. According to a study by WebFX, companies that automate some of their marketing tactics experience 53% higher conversation rates than those that do not.

ERP solutions can revolutionise your marketing strategy by centralising your data, and integrating it with your CRM system. This improves campaign management, providing data-driven insights, and automating routine tasks.  By implementing a built-in CRM system within your ERP solution, you can have a centralized and reliable source for all your customer data.

5. Data-Driven Decision Making

In today’s business world, data-driven decision-making is essential for any successful marketing strategy. According to the McKinsey Global Institute, companies that use data to inform their decisions are 23 times more likely to gain new customers, six times more likely to retain existing customers, and 19 times more likely to achieve profitability.

By using an ERP solution, businesses can access real-time insights and analytics to help them make informed decisions. With real-time data, businesses can gain a comprehensive understanding of their customers, their preferences, and their behaviors, allowing them to create more targeted and effective marketing campaigns. For example, imagine a business wants to target customers who have recently purchased a particular product. With real-time data, the business can quickly identify these customers and tailor marketing campaigns specific to their interests and needs.

How AlphaBiz Solutions can boost your marketing strategy:

Take control of your marketing by having an all-in-one ERP solution. Here are some ways in which AlphaBiz Solutions‘ MYOB Advanced can help boost marketing strategies:

• Real-time access to critical data for informed decision-making
• Improved sales and marketing forecasting accuracy
• Enhanced campaign management through data analysis
• Greater visibility into customer behavior and preferences
• Optimized inventory management for improved product availability
• Efficient financial management for better budget allocation
• Streamlined operations, saving time and reducing errors
• Improved collaboration among teams to execute marketing strategies effectively

By utilizing these features, businesses can take their marketing strategies to the next level and achieve their desired outcomes.

 

Book a Demo with Our Experts and Streamline Your Business Operations Today

By utilizing these features, businesses can take their marketing strategies to the next level and achieve their desired outcomes. To discover how our all-in-one ERP solution can benefit your business, book a demo and speak to one of our experts today.