Brett Hansen is the CGO of Semarchy, a data software company that enables organizations to leverage their data to create business value.
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Marketers caught up in the minutiae of their company strategies and data are missing the big picture. I believe data differentiation is the key to widening their perspectives.
While 85% of B2B marketers surveyed in a 2016 report from the Content Marketing Institute, MarketingProfs and Brightcove said that lead generation is their most important content marketing goal, they may not always receive high-quality leads from those efforts. Too much focus on the beginning stages of the buyer’s journey can cause marketers to lose sight of the later stages—the final steps in the prospect’s journey—the ones that make or break the conversion.
This growing disconnect between companies’ sales and marketing teams illustrates the need for more comprehensive growth strategies. And the key to these strategies is—of course—data. When B2B marketers differentiate their data to see the big picture, they can build a strategy based on detailed insights instead of resting on basic trial and error.
At Semarchy, we’re all about using data strategically, and that includes using it to inform marketing and sales strategies. Marketers should be able to discover, cleanse and govern their data for their companies to thrive. Here are a few ways that B2B marketers can differentiate their data for the betterment of their businesses.
Focus On First-Party Data
First-party data—the information that comes directly from a company’s customers—gives B2B marketers the ability to differentiate themselves from their competitors. This data includes everything from customers’ purchase history to web-browsing behaviors. By analyzing this personalized content, marketers can promote their products by pinpointing what their audiences need and highlighting it in their advertising.
To achieve the best results, B2B marketers should segment their first-party data into manageable segments. For example, delineating your customers by people (who they are and their role), things (i.e., products or services) and places (geography or organization) will allow you to develop more logical and effective targeting. The key is not to use any single category, but to align multiple segments to generate precise targeting opportunities.
Break Down Your Buyer’s Journey
Many companies face challenges when it comes to converting leads into sales. I believe this is because we still have fundamental misunderstandings about our buyers’ journeys. Only by looking at that journey holistically and then breaking it down into precise steps that include a number of variables, can marketers begin to turn leads into opportunities.
Earlier in my career, I worked with a company that had seen growth before hitting a plateau. Although our leads were increasing (as was our material production), our conversion rate declined. This was when a former colleague challenged me to write down every step of our buyer’s journey. Through this process, I realized that we were not targeting the appropriate personas with our messaging. We were missing out on engaging another audience that, in the end, created the inflection point of moving leads into sales.
We were able to tweak our buyer’s journey and marketing strategies by looking at our data in segments, as well as from a holistic perspective. Data you should include to do this includes demographic, behavioral and intent data. Basically, you should look at who and where your buyers are, what they are doing, and how likely they are to positively respond to an engagement. You can then focus your efforts by promoting messaging and content that will generate your desired outcome.
Diversify Your Data
Diversifying your data calls for developing an understanding of any function and pulling data from a variety of sources. For a B2B marketer, sources may include your CRM system, marketing automation, customer support, billing and others.
To look at the bigger picture, B2B marketers should look beyond their own datasets. Strong data differentiation occurs when a company’s various teams all work together.
It’s time for marketers to step outside of marketing trends and look at their businesses holistically. Synchronization between operations and marketing is necessary across industries.
I believe that diversity has played a significant role in my career, and it has helped me think about how all elements of a company play into a marketing strategy. Working in other positions, such as being general manager for Dell, allowed me to broaden my horizons and become the holistic marketer I am today.
Being a successful B2B marketer means knowing how to pull and analyze data. This means listening to your customers, understanding their journey and thinking about your company holistically by stepping out of the marketing bubble. No matter your industry, I believe data differentiation is key to modern marketing, and those who adopt data strategies now could lead the pack into the future.
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