As today’s consumers are digital-savvy, data-driven marketing has become more important than ever. B2B companies are using data to gain actionable insights, create marketing strategies, and personalize their services.
We recently had conversations with several business decision-makers and online marketing experts in India to understand their real-world data-driven marketing strategies. Here’s what they suggest:
- Develop personalized connections
Personalization and data-driven marketing go hand-in-hand. When you create more personalized and consistent connections with your consumers, it helps you understand customers’ habits, preferences, and buying patterns. This is a great boon for advertisers that not only want to increase ROI, but also improve brands’ relationship with their consumers.
To adopt a personalized marketing strategy, run personalized ads that include potential touchpoints like devices, interactive channels, and time of the day. You can also use data to personalize discounts, loyalty rewards, and even real-time support.
For example, DirecTV built a personalized internet marketing campaign to target consumers that have recently moved to a new location. The result was a huge conversion rate for their personalized pagesand services.
- Incorporate hyper-predictive data analysis
To predict future trends, companies need to understandthe ever-evolving digital sphere. This is where predictive data analysis comes in handy. It can deliver the best customer experience in many industries, especially for the ones related to grocery retails and supermarkets.
While e-commerce giants like Amazon are entering the data analysis sector, it is also important for retailer businesses to rely on predictive analytics. After all, it is the best way to optimize campaigns, predict demand, and suggest replenishment strategies.
For example, Leadspace – an SaaS firm – explains that an ICP (Ideal Customer Profile) helps their sales and online marketing experts to coordinate their efforts and navigate the best leads through the sales funnel.
- Invest in technology that learns at scale
Uncertainties require marketers and advertisers to get better at testing and reacting. Having an agile operating model can save the day here, but it is also essential to work with technology that learns at scale. This means building technology capabilities that can read consumer responses, so you can learn what works the best.
According to PwC, 86% of companies say AI (Artificial Intelligence) will be their “mainstream technology.” Thus, marketers are pushing the limits by using AI to monitor marketing campaigns and adjust their strategies based on those insights. This is a great boon for B2B enterprises that often take several days to get the right marketing insights.
For example, Rocco is an AI-powered marketing tool that suggests fresh social media content. You can use this content to engage your potential leads with your business.
- Rely on human-to-human marketing
Robots may dominate the future of marketing, but they are apathetic when it comes to building relationships the way consumers want from their brands. To establish an interpersonal relationship with consumers, businesses need to humanize the bots by using casual and conversational language.
So, give your bot a face, name, and sense of humor.
- Use big data to track marketing ROI
For every dollar you spend on business intelligence and analytics, it may give a whopping 1301% ROI. The thing is to combine the science of analytics with the art of communication. Make sure data is easy to integrate and share with other systems, such as sharing social media demographics with affiliate marketers.
For example, Sprint Corporation, now a part of T Mobile, used big data analytics to improve customer experiences, reduce network error rates, and track ROI. Using visualization tools is another way to monitor marketing ROI in real-time. They may simplify complex analytics in an easier way. This also helps data scientists and marketers discuss the potential outcomes of future campaigns.
The Final Thought
B2B businesses and marketers must pull off a balancing act to connect with their prospects on multiple touchpoints. And what else could be better than following a data-driven marketing approach that is transparent. Hope these strategies will help you add personality to your business, so you won’t be lost in the constantly evolving business scenarios.