5 Strategies to Supercharge Your Data-Driven Marketing
The majority of marketers agree — data-driven marketing is an essential practice for any business. But what does it look like to “get it right?” And if your approach is less than sound, what are the consequences?
Companies that adopt data-driven marketing are six times more likely to be profitable year over year.
1. Clean up your Database.
The challenge is to keep the garbage out that has been accumulating over the years to help with the efficiency of the marketing activities.
Only 29% of marketers have confidence in the quality of their data. On the average US, companies state that 30% of their data is inaccurate. Data-driven marketing with incorrect or incomplete data is ineffective and waste of money. Clean out old and invalid contacts and standardise your input fields.
2. Actively manage all stages of the lead lifecycle
The challenge is for the Leads that you pass to the sales from disappearing.
Map your sales funnel and identify where leads got lost and make sure your leads are ready for sales before you release them. When you leave no lead behind, you can dramatically increase sales and ROI.
Focus on designing marketing strategies for recycled leads.
3. Get Started with account-based marketing
The challenge here is to connect individual leads to accounts.
77% of B2B marketers believe ABM has driven greater success with their target accounts. When you look at leads in isolation and not as part of a broader account strategy, you close fewer deals. Focus on identifying high- priority target accounts. Study each statement and identify key decision-makers and influencers to target. Create an account and persona specific content plans.
4. Use your data to inform personalised conversations
The challenge is to switch from cookie-cutter communications to data-driven personalisation – website visitors whose content is personalised convert 5X more than the average visitor. Generic interactions are less active and generate less revenue. Take a closer look at who is buying your products. Focus on creating content to target different industries and use cases.
5. Adopt a multi-touch revenue attribution system
The challenge is to understand how different strategies at different stages all contribute to sales. 46% of marketers say that it can be challenging to get support and investment from executive leadership. Without the data to prove that doing something works, it’s hard to get the funds you need to do more of it. The solution is to integrate your marketing or revenue attribution platform with your CRM system to track everything. Track your performance against your goals and adjust strategies to increase revenue.
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