There is a virtually endless amount of data available when it comes to marketing, from social media, to email marketing, engagement data, website analytics and more. Today, data powers marketing efforts. B2B marketers are quite familiar with a variety of marketing dashboards comprised of various spreadsheets, charts and graphs that depict performance and statuses. It’s easy to view these reports only at a surface level, but a thorough analysis and periodic verification of the marketing data you collect and report on is important to ensure your actions are informed by the best information possible.
So, how can data be used more effectively in your marketing efforts? In what ways can data analysis elevate experiences? Below, we discuss why data matters, common data challenges marketers face and ways you can use data to improve marketing and sales efforts.
Why Your Data Matters
Marketing data provides a wide range of insights about your prospects and buyers. This includes where they are in the buyer’s journey, what their level of engagement is, what content they are consuming and their browsing behaviors. Clear views of these data points help you meet buyers where they are and deliver experiences that are catered to them.
Prospects are 2.8 times more likely to have an easy purchase experience when they are delivered information that helps them advance in the buying cycle. They appreciate consuming relevant content and information that helps them take the next step. That’s why 67% of businesses rely on CRM data to segment and target customers. The data that inhabits your CRM, email list and other data repositories is critical to driving targeted marketing and sales efforts.
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Common Challenges with Marketing Data
While data can be useful for many aspects of marketing, it can also present its challenges. One such challenge is separating signals from the noise. In other words, marketers can sometimes track and analyze data that isn’t highly actionable or valuable. Focus first on the metrics that matter most and then ask “what else can we learn and apply” from data not yet focused on. Here are two additional data challenges that marketers commonly face.
- Inaccurate Data – On average, 25% of a B2B database is inaccurate. Data is constantly changing and if your database doesn’t reflect those changes, issues arise and multiply over time. For example, email marketing campaigns are diminished greatly when they contain contacts who have left a company, ignored previous emails, have invalid email addresses or are no longer in the targeted industry. Keeping job titles, industries, emails and other contact fields up to date is crucial.
- Duplicate Data. Around 10-30% of all lead data is duplicated. This can cause issues for both sales and marketing. If a sales team member is entering lead data and the contact already exists in the database, it can result in separate records and improper actions. If the new lead information does not match what’s already in the database, verify which fields are correct. Validating your data and deleting duplicate contacts and information helps to keep sales and marketing activities streamlined.
Using Data to Elevate Experiences
- Website. Google Analytics, Google Search Console and other website data tracking and enablement tools provide detailed insights such as your most viewed content, conversion rates, audience demographics, entrance and exit pages and so much more. This data can help you better understand your audience, their site behaviors and the conversion rates of various assets.
- Social Media. Social media data is insightful. Up to 71% of buyers use social media in the research phase of their buying journey. Using the analytics within Twitter, Facebook, LinkedIn and related social platforms provides data on impressions, engagements, follower changes and a range of other information that’s important for your organization’s goals.
- Personalization. Brainstorm how you can individualize experiences by applying the data you have on hand – a prospect’s job title, company, industry, birthdate or more. Personalization might be an email that addresses an individual by name in the subject line or body. Or, it could be delivering content that is relevant to their industry, job role or challenge faced. Tailor your marketing messages as much as possible to take interactions to the next level.
The Power of Data
Using data effectively is incredibly important to marketing, sales and your organization overall. Keeping it up to date and error-free can ensure that your team is operating with the best possible information for decision making and actions. Analyzing and understanding what your data is telling you, whether it be from your CRM, website or social media, can help you deliver more effective and data-driven sales and marketing efforts.