Become a Data-Driven Business With Actionable B2B Marketing Insights
In today’s crowded B2B marketing landscape, marketers need to deliver what their audiences want before they even ask for it.
Given the complexity of how audiences interact with digital and offline channels, B2B marketing is no easy task.
In fact, almost every company has yet to fully discover the formula.
However, every B2B marketer agrees that successful B2B marketing involves using as much data as possible.
But what does it actually mean to call your business “data-driven?”
Data-driven businesses rely on data to make core strategic decisions.
As a data-driven business, you can always make fact-based, up-to-date decisions with the market’s changing needs in mind.
Building a Data-Driven Marketing Strategy
With this understanding, B2B organizations are adopting data-driven marketing strategies at a faster pace than ever before.
If you want to stay ahead of the competition, it is up to you to take advantage of the data and marketing tools that are available to you so can make better decisions.
Otherwise, you’ll risk getting left behind.
Here are 3 steps to help you transform your business with a data-driven marketing strategy.
1. Get Access to As Much Data as Possible
The first step to creating a data-driven marketing strategy for your company is gathering data. Considering the abundance of first party, second party and third-party data sources that are available, there is absolutely no reason not to collect as much data as you can.
The two types of data that you should use to create your marketing strategy are:
- General industry statistics – Get data on your entire business community, not just the businesses that are your direct clients. Learning about their online behaviors, demographics, and industry interests can help you to reach your target audience, as well as, other professionals and influencers in your industry.
- Your statistics – You should also learn more about how your audience make use of your own B2B marketing efforts. Make sure to gather data on how people engage with your blog posts, white papers, webinars and any other marketing materials that you create to attract new business and keep your audience engaged.
Combining these two types of data will improve your marketing strategy.
Learn the industry and then fine-tune your efforts accordingly to make more efficient use of your marketing budget.
You should also make the data you collect available to everyone in your firm, not just the marketing department.
Becoming a data-driven business means that every department within your company should have access to data to make important decisions.
2. Lead With Your Content
When marketing to businesses, try to use content as much as possible.
Content marketing is already known as a high ROI marketing strategy and can help you to build long term relationships of trust and loyalty with your clients.
In fact, the B2B Content Marketing: 2016 Benchmarks, Budgets and Trends—North America report done by the Content Marketing Institute found that the most effective B2B marketers allocate 42% of their total marketing budgets to content marketing.
Additionally, the most sophisticated/mature businesses allocate 46% of their total marketing budgets to content marketing.
So what is it that makes content marketing so effective?
While business professionals don’t have time for strictly promotional marketing materials, they will make time for content that expands their knowledge and provides new valuable information.
In return, they will have greater respect for and trust in your company since you provide this information to them.
However, it isn’t only about creating content, it is about creating content that engages your audience.
The B2B Content Marketing Report done by LinkedIn, which included over 600 survey responses from marketing professionals, uncovered the top three things that make content effective:
- Audience Relevance (58%)
- Engaging and Compelling Storytelling (57%)
- Triggers a Response/Action (54%)
Using data to drive your content marketing strategy ensures that any content that you deliver to your audience always provides as much value as possible.
In addition, data-driven marketers understand that content isn’t only the job of the marketing department.
By using data, you’ll also reveal which other voices your B2B audience wants to hear from, including your executive leaders and customer service team.
3. Leverage Technology
B2B marketers already understand how to create content and track their results.
However, the biggest struggle for B2B marketers is figuring out how to join conversations that are already in progress in order to be effective at their marketing efforts.
The solution to this problem is to implement a centralized dashboard that can keep track of your audience in real-time so that you can make marketing decisions without being distracted by irrelevant data points.
InLoop Delivers Actionable B2B Marketing Insights
As a newsfeed and newsletter provider, for trade associations and other B2B clients, InLoop has created the technology that makes data-driven marketing for B2B businesses a reality.
In fact, business leaders and industry professionals already use our news platforms as key sources for daily business news.
With our new Industry Insights, we’ve taken over a year’s worth of data, and compiled it into one dashboard (with separate platforms for each industry, of course)!
Our Industry Insights Package will help you make marketing and advertising decisions based on facts regarding your targeted potential customers:
- Achieve marketing goals: Identify vital audiences that are a right fit for your company
- Maintain focus: Pinpoint the type of content you should produce in order to drive traffic and increase conversions
- Expand your reach: Increase online engagement within your industry
- Work smarter, not harder: Discover the best outlets and times to post content, while continually enriching social channels with industry content relevant to your audience
- Save valuable resources: Share and promote content to the right people through the best channels at the right time
- Learn rewarding information about your target audience—from who they are to the way they interact with your content—so you can meet their needs head-on!
In addition to keeping your current audience engaged, InLoop will allow you to explore new types of creativity in your marketing and to acquire new audiences.
When you have access to the latest key metrics about your B2B audience, you can transform your business with data-driven marketing.
If you’re ready to uncover the conversations that your B2B audience is having right now, we’re ready to help. Feel free to arrange a demo or reach out to us with any questions.