Data-driven marketing strategies for B2B business

8 April 2020

Marketing image

Data-driven marketing strategies for B2B business

Knowing your audience is a critical success factor for effective marketing strategies. Here we discuss how accessing the right UK Business data and insight, in the right format, can power successful data-driven marketing campaigns.

Our focus here is on B2B data-driven marketing – UK business insight, to be more precise. B2B companies have very different audiences to get to grips with. They’re not looking for vast amounts of customer data, rather manageable amounts of UK business market data, which they can use to power successful marketing campaigns.

That said, data insights are just as critical for the corporate world, as they are for consumer businesses. Consumer businesses have led the way in the use of data, and therefore there’s a lot to learn from them….

At the dusk of 2016, a digital Business Intelligence firm in the U.S., L2 Inc, launched a video on YouTube showcasing the founder’s keynote presentation on how to become a successful brand in 2017. The focus of the presentation was on how some of the world’s biggest companies, like Netflix, Amazon, and Facebook, use intelligence and “receptors” to sharpen their competitive edge and add more value to their business.

Listen to Your Audience

One of the key takeaways of this presentation is that it’s critical to listen to what your audience is trying to tell you. By collecting the correct data about them, you can turn it into meaningful business intelligence. Meaningful business intelligence, in turn, mean marketing teams will have a deeper understanding of their target audiences – making them a much more competitive business in the UK.

A deeper understanding of UK business markets means companies can win on many fronts:

  • Razor-sharp value propositions (that anticipate customer wants)
  • Better targeted messages (that focus on their needs)
  • Engaged with the right prospects (removing time wasted in targeting worthless prospects)

How data-driven marketing can work for UK SMEs

In the 21st century, data holds the power when competing in business. It’s time to use it to create a seamless customer experience, but how are small and medium companies supposed to use vast amounts of data to compete in business in the UK?

Data is defined as massive data sets that are often analysed to showcase patterns, associations, and trends – particularly to do with human behaviour and interactions.

Big Data influences all of us, even if we don’t know it – having a massive impact on our day-to-day operations. Big Data normally grows exponentially over time. Data of this nature is so mammoth and complex that few traditional management tools can handle or store it effectively.

The New York Stock Exchange generates over a terabyte of new trade data daily. Social media is even more significant, generating over 500 terabytes of new data every single day through photo and video uploads, messages, comments, and more.

Five steps to delivering a data-driven marketing campaign

  1. Design Data-driven marketing strategies need a clear focus – a defined set of marketing objectives. (e.g. enhance customer retention, raise awareness, increase sales by x%, etc). It’s all about creating a design for your project(s) that keep your business objectives at heart. From there, we can prioritise. That brings us to our next point.
  2. Collect the right data. Data insight platforms such as DataEco can help collect, visualise, and select manageable quantities of data to meet the goals outlined in the design stage. It may sound obvious, but it’s important to use the right data. Using the wrong data can deliver the wrong insights, which would result in disaster. Thankfully, we know what’s what.
  3. Answers. Data can be analysed in a variety of ways. It’s important to understand the importance of deeper analysis to deliver relevant and successful marketing campaigns. Together, we can benchmark critical KPIs and use those to measure against. With a platform powered by artificial intelligence and business intelligence, it’ll be easier to unlock invaluable UK data insights.
  4. Choices. It’s time to make a decision. Evaluate your discoveries/answers and insights and determine the right game-plan to produce the results you seek. A variety of decisions can be made at this stage – does the value offering need to be refined a little? Should we be looking at new growth markets? Is our brand relevant? What geography should we focus on? Every situation is different, but one important thing remains – all decisions must be based on data-driven facts and insights.
  5. Action! Make changes, go to market with razor-sharp precision, take your business further, faster.

DataEco helps you make sense of Big UK Data, allowing users to easily collect, model, and visualise relevant data and insights.

Any B2B business in the UK can benefit from the analytic superiority of DataEco, whether a financial services firm or a manufacturer of auto parts. With an easy membership and unlimited access to all kinds of datasets.

The data harvested by DataEco can be utilised by sales and marketing employees in order to plan and power client engagement programs. Marketing campaigns can be planned with the use of real-time data and analytics that will impress new and old customer alike. Find out how we harvest data to power data-driven marketing campaigns.

Typically, businesses use DataEco to collect, analyse and visualise data, then use it with their own tools to connect with audiences, such as Salesforce and a wide array of other CRM systems.

Try it yourself with a free trial.