In today's digital world, data is everywhere. This is why it has become more important than ever for B2B companies to make marketing decisions informed by robust, reliable data.
There are five key reasons why data-driven decision-making is so crucial in B2B marketing, and what tools are available to find the data you need for success, outlined below:
- Data helps you gain a deeper understanding of your audience
- Data determines your next campaign's strategy
- Data can improve your ROI in marketing
- Data gives your business the competitive edge
- Data helps identify where you can improve
In this blog, we'll explore how you can be using data to improve your B2B marketing strategy in more detail.
Gain a deeper understanding of your target audience using data
If you review data from your leads and current customers over time, using a CRM or other analytics tools, you’ll find patterns and trends that will help you better understand their needs.
You can use this data to build a highly accurate depiction of your target customers. Share these documents with your entire business, so everyone is clear on who you are talking to when the company is being represented, either online or in-person at trade shows and industry events.
Using buyer personas built on customer data is ideal, because your audience will begin to relate and identify with your brand when they see your messaging and brand in the industry. This leads to higher conversion rates, because your customers feel as though you're speaking directly to them, and understand their pain points and challenges.
It is essential to review your customer data regularly to make sure your buyer personas are always relevant. If you notice that your customers are no longer reading trade magazines for example, you can adjust your strategy to fit their new preferred channel of communication.
Measure marketing campaign success with real time data
By keeping track of metrics such as website traffic, lead generation, and conversion rates, you will easily see what's working and what isn’t.
You can then use this information to pivot, change or maintain your current marketing strategies to achieve better results. A way to manage this is by using a fully connected CRM that has all of the tools you need, like HubSpot.
In this webinar, you’ll learn how HubSpot can:
- Provide you with new and effective ways to track your leads
- Help you to track your website traffic
- Show you exactly where your ROI is coming from
Data can help improve your return on investment
If you’re using data to identify which marketing campaigns and tactics are most effective, you’ll naturally start allocating your resources more efficiently.
You'll also be able to easily identify which campaigns are delivering the best results for your business, giving you the power to say goodbye to the ones that aren't. Using data like this will save you money by investing in the right channels and tactics for your audience.
Not only does using data in this way help you clearly navigate your marketing budget, you will be able to accurately attribute revenue to marketing efforts with such transparency you won't have been able to do before.
So there's no more guessing when it comes to attribution, you'll be able to see exactly what your return on investment or how many leads were generated from specific marketing activity.
data analysis gives you a competitive advantage
If you're serious about dominating your competition, then you need to check out SEMrush.
This powerful tool gives you the inside scoop on your SEO performance, allowing you to adjust your strategies based on:
- Keyword rankings
- & Traffic analytics.
SEMrush also provides insights into your competitors' top-performing pages, paid search campaigns, and social media presence, giving you a glimpse into where your competitors are too.
With this information in hand, you'll be able to keep your business on top and ensure that your message is standing out amongst the competition.
using data to improve your marketing strategy
Through consistently reviewing data, you’ll identify areas where you're falling short, allowing you to adjust as you go.
This could include tweaking your messaging, targeting a different audience entirely, or keeping your SEO up to scratch.
A must have tool for reviewing marketing data is Google Analytics, as it provides valuable insights into your website traffic. With the recent update to Google Analytics 4 (GA4), you can now review the data in even greater detail.
In our GA4 webinar, you’ll learn:
- Why and how Google Analytics had changed
- What’s new from the update
- How Google Analytics 4 can benefit you
If you’re looking for in-depth insights into how the traffic interacts with your website, then HotJar is an excellent tool.
HotJar uses data gathered through heatmaps, session recordings, and feedback polls, to help you understand how users interact with your site. With this information, you can keep your site optimised for a better user experience.
By using a combination of these tools and others like them, marketers can access a wide variety of data that will inform their strategies and drive better results.
Making decisions driven by data is essential for B2B marketers who want to stay competitive and improve their results.
By using tools to stay ahead and identify areas for improvement, you’re guaranteed to create more successful marketing campaigns.
So, make sure you’re utilising the tools and the data that’s out there to grow your business.
Need more help? Get in touch.