Did you know that businesses who use data-driven strategies drive five to eight times as much ROI as businesses who don’t? And data-driven marketing is not just for B2C companies - 93% of B2B marketers say data-driven marketing is enables them to achieve important marketing objectives.
Yet according to Deloitte Digital, fewer than 43% of businesses say they are capable of customer insights or analytics. That means less than half of all marketing teams have a real understanding of their database.
If you’re planning your B2B marketing strategy for 2022 and wondering what tactics to implement to improve your ROI, make 2022 the year for B2B data-driven marketing! Understand why data-driven marketing should be the key focus of your B2B marketing strategy next year, how to go about it and what benefits you could reap as a business.
What Is B2B Data-driven Marketing?
B2B data-driven marketing relies on accurate and detailed client information and data to inform marketing decisions and strategies. Instead of looking to generic market trends or depending on gut instinct, B2B marketers analyse their client data to understand needs and behaviors specific to their client base and in turn use these create tailored marketing strategies.
What Benefits Can B2B Marketers Reap From Data-driven Marketing?
Better Targeting
Starting from the first stage of the marketing funnel, data enables you to target the audience that is most likely to convert into a paying client more precisely. This is especially important in B2B marketing as it typically involves channels that are ultimately more costly than in B2C marketing - think direct mail and events. The more your buyer persona is off-the-mark, the more likely it is you’ll have wasted thousands of marketing dollars trying to reach the wrong target. Just imagine the wasted print costs & postage…
INFORMED CAMPAIGN CHOICES
Moving down the funnel to consideration, data helps to inform your marketing campaign decisions. The more information you have on your clients’ past behavior - what they respond well to and what they don’t - the more likely your campaign choices will be in line with your clients’ preferences and the higher the rate of engagement the campaign will have. At Lighthouse/Ameribase Digital our data is sourced from purchases, intent signals, online engagements, self-reported data, registrations & form fills so we have a wealth of data ready for B2B marketers looking to try out behavioral targeting.
INCREASED PERSONALIZATION
With data-driven marketing it’s also easier to run personalized marketing campaigns. If you’re not sure why you should be using personalization in your B2B marketing campaigns, just take Zenefits as an example. The HR management company wanted to improve the ROI of their paid social campaigns and tried out personalized ad campaigns. The results were significant: Zenefits achieved a 20% increase in conversion rate. If you’re not using personalization in your campaigns, maybe it’s time you started!
What Do B2B Marketing Teams Require To Launch Their B2B Data-driven Strategy?
If you’re sold on the benefits of data-driven marketing and are wondering where to start, you’ll need to first carry out an audit of your client data. Client data includes CRM data, email campaign data, social interactions data, web analytics data & purchase data.
The first challenge will be to locate this data and then to try to bring it all together in one place for analysis. Unfortunately, due to data silos, some 40% of organizations indicate that scattered information and limited data visibility hinder their sales and marketing activity. A key focus for many B2B businesses should be to break down these silos to ensure they have a single customer view they can easily access.
Another challenge will most likely occur once marketing teams complete their analysis: they may find that their CRM data is seriously out-of-date. In fact, as a rule of thumb the average CRM data decays at a rate of 30% per year. If marketing teams only have inaccurate, old data to hand, their plans for a data-driven marketing approach could be at risk.
How Can Lighthouse/Ameribase Digital Help With Your Data-Driven Marketing in 2022?
Achieve Reach without Sacrificing Quality
Lighthouse/Ameribase Digital allows you to achieve both quality and scale in your B2B marketing campaigns. We have hundreds of on-demand B2B audiences, segmented by company size; industry; sales volume; job role; and job level including C-Suite, Directors & Management.
Our data has been validated multiple times by independent evaluator TruthSet and each time it was found to be amongst the most accurate when compared to other leading data providers. In fact, in Q3 2021 our small business owner data was deemed 50% more accurate than that of other leading data providers.
If reach is your key focus, try our Business Audience Reach offering. With Business Audience Reach, you can receive all of a contact's identifiers in one file including business and personal email, business and home address, business and home phone number. On average we match 2 million B2B email records a month.
Know Your Customer
Maybe your data quality and reach is sufficient but your lacking in client insights. Again, we can help here. Try our Data Append service to add crucial new or missing fields of information to your CRM that will enable you to include more personalization in your next campaign.
B2B Data for the modern Workplace
The days of 9 to 5 in the office are gone and the lines between home-life and work-life have blurred considerably. Statistics show that more than 4.7 million people work remotely at least half the time in the United States, not to mention the effects caused by the pandemic. We can help you reach these remote workers via our Business at Home offering. We have for example 448MM verified email addresses of business professionals working from home and 500MM digital device IDs. If you want to run a direct mail campaign, it’s still possible thanks to our database of Business At Home home addresses.
CONTACT US FOR SUPPORT
If you’d like support with your B2B data-driven marketing strategy for 2022, don’t hesitate to get in touch.
We recognize that the ongoing Covid-19 pandemic poses numerous challenges and headaches and we believe arming B2B marketing teams with quality and accurate data is the best way to enable them to succeed.
