How Do Marketers Use Data To Develop Place Strategies – To accelerate sales cycles; Use objective data with account-based marketing (ABM) to improve conversion rates and adjust marketing efforts.
Account-based marketing (ABM) is one of the most effective ways to boost the bottom line because it allows you to laser-focus your B2B marketing and sales efforts on high-value accounts. But what if you could take your ABM efforts to the next level and seize opportunities you never knew existed? Intent data only helps. Because businesses need real-time insight into what their target accounts are really interested in; Objective data has become the go-to tool of every B2B marketer. Intent data helps marketers focus on ABM strategy; Expresses interest in a potential product or service, helping to shorten the sales cycle and close more leads. Software providers looking to improve conversions and reduce churn can use ABM to create a robust system to identify and target potential customers with customer intent data. In this blog, We discuss five ways to use objective data throughout your sales funnel to improve the bottom line.
How Do Marketers Use Data To Develop Place Strategies
1. Expand Your Prospect List To improve your marketing and sales efforts; Focus on building a list of companies and prospects that match your ideal customer profile (ICP). Use customer relationship management (CRM) software to track and score high volume leads from objective sources, including your website and marketing campaigns. to target B2B objective data; Leverage B2B objective data to build an ICP-based list of companies to expand your coverage and reach new customers and contacts most interested in your product or service. This allows you to focus your marketing and sales efforts where they have the most impact, increasing the speed and accuracy of your distribution.
Never Miss A Moment With Data Driven Marketing
Real-World Success Story: Nonprofit Management Technology Company Identifies 90% of New Leads from Intent Data During Pandemic Total Addressable Market (TAM) for Nonprofit Donor Management Grows Significantly ($449.6 Billion in 2020) Our client with a new marketing team was wondering who to contact in the market. By generating a report in their CRM, they created a list of new accounts that matched their ICP. They used intent logs and targeted marketing efforts for prospects with a strong intent to buy. As a result, They close a new deal almost every week and identify 90% of potential new customers from objective data ( source ).
2. Convert High-Quality Leads You’ve acquired the skills to find and target prospects; It’s time to convert them into high-quality leads using objective data. By understanding what content they are viewing and engaging with; You score a lead; You can tailor your access and optimize passwords. Analyzing behavioral data can help you uncover small clues that might not be on your radar. for example, If a lead from a target account downloads a white paper or attends a webinar; This is a strong indication that they are interested in learning more about your product. You can use this information to better segment your leads.
Real-World Success Story: HR Processing Tech Company Establishes $89K Opportunity Using Objective Data Our client has a complex sales and marketing system; That’s why it’s important for their strategic sales team to focus time wisely on high-value accounts. . Their top 180 clients include digital marketing websites such as Capterra; Helped create a report that alerted a user when they started buying at GetApp and Software Advice. Later on, The director of demand marketing confirmed that their sales team was able to enter as a result of the initial customer search and assigned an $89K opportunity, which was three times their typical sales price ( source ).
3. Create Competitive Plays Like most companies, you have many major competitors. And if you want to win, it’s important to understand what your competitors are doing. Use objective data to measure your acquisition and expansion strategies. In addition, Implement sales plays using competitive intelligence (CI) to proactively research your competitors’ products or services to target customers.
The Tipping Point: Data Driven Marketing Vs. Data Complexity
By tracking your competitors’ online activity; their most popular content; You can quickly see what topics they focus on and where they invest their resources. This will give you a good idea of what works well for them and what you can get away with.
Real World Success Story: Online Proven Company Gets Large Funding Using $125K Pipeline and Objective Data. We’ve seen a significant increase in campaign performance for our client’s sales team after converting high-value leads into their funnel. Our client saw a significant increase in campaign performance with free trial downloads, which became extremely valuable leads for their sales force. Companies with low track records were targeted with increased use of customer search intent data based on competitive signals. According to their Chief Marketing Officer (CMO) ( source ), this marketing activity contributed $125K in annual recurring revenue.
4. If you are doing a good job of acquiring new customers using ABM and objective data. It is important to keep an eye out for potential customer fraud. Intent data helps identify at-risk customers and take steps to prevent them. Look for signs of disrespect, such as low web traffic or low content consumption from user accounts. Once you’ve identified a risk to the client, reach out and check what’s going on. It could be because the customer has a problem with your product or is considering switching to another service provider. Regardless, the best way to retain a customer is to deal with the problem.
Real-World Success Story: Performance Management Company Saves $10K in Annual Recurring Revenue Using Objective Data Proactive engagement enabled their managers to understand what their customers wanted to change and how they could meet those needs. The CEO said they are adding more features that both customers need in their packages. Keeping them on track with their goals. They save $10K in annual recurring revenue and generate an additional $2K in revenue for the remainder of their contract (source).
The Benefits Of Data Analytics In Small Business Marketing
5. Look for upsell and cross-sell opportunities Once you have a customer, it’s important to nurture that relationship and look for opportunities to upsell or cross-sell. Intent data helps you identify customers who may be interested in additional products or services. Look for signs that indicate a customer is researching a new product or service, such as increased web traffic from their account or engagement with your content. If you see a customer interested in a new product; Contact us and see if they have any questions. This is a great opportunity for introductions and upsell opportunities with your other offers.
Make objective data Your objective data source should be the source for planning your marketing and sales activities. Find a reputable data provider with the insights you need to make better decisions; Discover customer discovery and prospects that drive better results for your business. Then you can focus on running and expanding your business.
Sarabeth McCarthy Sarabeth McCarthy is a Senior Data Insights Client Relationship Partner in Digital Markets. to provide companies with market insights; Help expand prospect pools and accelerate sales cycles through Data Insights offerings. When not working, Sarabeth spends time around Washington, DC and at her foster home in Northern Virginia. Connect with Sarabeth on LinkedIn.
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Download Ebook Ebook Software Market Insights: Asset and Facility Management Software Market Insights: Asset and Facility Management Ebook Tell where customers are coming from to turn sales data into more meaningful information for your business. for example, You can do this with promotion codes by labeling each of your different ad spaces with a unique code. Track which ‘promo’ codes a customer uses when making a purchase and which ads work; You’ll get a picture of which products each customer likes and which ads work for the customer. That’s targeted marketing. (Click on the diagram below for a closer look.)
How do you measure how effective one ad placement is over another? Some companies will wait for the promotion. ကြော်ငြာအတွက် တိုးမြင့်မှုကို သင်သတ်မှတ်နိုင်သည်မှာ ဖြစ်နိုင်သည်။ ဒါပေမယ့် မင်းထင်တာပဲ။ ရုပ်ပုံကြီးကြီးဖန်တီးရန် ဤအချက်အလက်ကို အခြားကြော်ငြာများနှင့် မည်သို့ပေါင်းစပ်မည်နည်း။ ကြော်ငြာတစ်ခုမတင်မီ ဒေတာကို မှတ်တမ်းတင်ရန် စနစ်တစ်ခုမှတစ်ဆင့် စိတ်ကူးကို ကောင်းစွာထားပါ။ ဒေတာတံဆိပ်များ မှတ်တမ်းတင်ခြင်းကို အရောင်းလုပ်ငန်းစဉ်၏ တစ်စိတ်တစ်ပိုင်းအဖြစ် သင်ဖမ်းယူနိုင်စေရန်
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