In 2021, the idea of using data to inform your marketing strategy and fuel business growth shouldn’t be new to you. Harnessing information about your customers, interactions and website visitors is a tried and tested approach to boosting conversions, fostering loyalty and maximizing return on investment from your marketing ventures — all of which are key to accelerating your business. For marketers that have never worked with data before, or aren’t quite sure what to do with it, there are some challenges that can arise — so let’s go back to basics and explore how and why data-driven decision-making is a vital part of your business growth plan.
What exactly is data-driven marketing?
Data-driven decision-making is the process of using customer, prospect and website visitor information to optimize experiences, segment audiences, personalize communications and make predictions about future behavior. Traditionally, marketers have worked on assumption and generalization — but often, this leads to wasted time and budget, and requires significant trial and error. Instead, data-driven marketing relies on quantitative and qualitative data to inform decisions; eliminating guesswork, delivering stronger results and connections, and revealing the best performing channels to enable budget optimization. As many as 40% of organizations aim to increase data-driven marketing budgets according to Invespcro — with top uses including customer journey mapping; A/B testing; personalization, and segmentation.
How to use marketing data for amplified results in 2021
So, now we have a clear understanding of what data-driven marketing is — let’s see what it looks like in action.
1. Capture and analyze your data
The data capture tools you have in place — whether that’s website visitor analytics, social media interactions, CRM data, insight from interactive content or qualitative feedback — will tell a story. Start by examining what you have — and identify what you’re missing.
2. Run side-by-side tests
The ability to optimize is crucial in B2B marketing — and running side-by-side to see which campaigns, landing pages, or even language choices are performing best puts you in a powerful position to make the best decisions for your audience.
3. Identify key audience segments and niches
Using your data to identify the small groups that make up your wider audience gives you the potential to hone in on small, specific segments and deliver campaigns designed specifically for them — a perfect strategy for B2B organizations that serve multiple sectors.
4. Tailor communications for effective lead nurture
The concept of ‘one-to-one marketing’ is a philosophy that’s 25 years in the making. So, if you’re not already personalizing experiences, content marketing and lead nurturing materials at scale, you could be wasting time, budget and missing out on previously engaged opportunities.
5. Identify top performing marketing channels
Analytics will show you the marketing channels that drive the most traffic to your site — and what those visitors go on to do. This will help you see the marketing ventures that are generating the most leads, and the ones that are falling flat.
6.Target buyers based on firmographic and demographic similarities
Not every business has the resources in place to deliver personalization at an account-based marketing level. But, high-quality data will empower you to target businesses that share key similarities — offering a scaled-down approach to personalization that still secures results.
7. Make personalized recommendations
The behavior we exhibit online tells vendors a lot about what we’re interested in — whether we make a purchase or not. As B2B marketers, we can harness this information to showcase the most relevant products to buyers and potential buyers.
8. Predict future purchase behavior
Repeat purchases, renewals, seasonal behavior — data can tell us all of this. Predicting the future behavior of your buyers can help you prepare, reach out to customers at just the right time and beat your competitors to the sale.
The age of automation
According to a report by Social Media Today, 75% of all companies already use at least one marketing automation tool. When paired with innovative marketing automation software, data can take businesses up a gear — eliminating processes, increasing efficiency, delivering enhanced results and leading to more business revenue. Powerful automation technology works seamlessly in the background of your business — using, acquiring and managing data to deliver campaigns at the right time, personalize outreach and segment information, remove the need for manual input and continuously learn from digital behaviors. Remember to opt for compatible solutions that work in harmony to intensify results.
Lead Forensics is intelligent B2B lead generation software that reveals the identity of your previously anonymous website visitors to instantly generate business leads. It works by utilizing intelligent reverse website visitor tracking technology and a global leading database of business IP addresses to track your website visitors, reveal their identity and notify you in real-time. Users are provided with the business name, contact details of key decision-makers and detailed website analytics. This way, you have everything you need to reach out to the right person, with the right information, at just the right time. Book your Lead Forensics demonstration today!