About a decade ago, data became an essential asset of many industrial sectors. Today, it’s impossible to single out any particular industry that has not been driven by data. Big data has touched on professional sports, health, retail businesses, and almost all the industries you could think of. By leveraging big data and analytics to drive B2B its marketing strategy, a company can maximize its return on investments.
However, the widespread availability of data isn’t an end in itself; it’s rather a beginning for the data-driven business.
The question of how to leverage big data and analytics to drive B2B a marketing strategy is as vital as the access to information. When implemented effectively, a good analytics strategy is the master key that can allow businesses to pool together their data points and convert them into actionable solutions and increase revenue.
Data utilization isn’t a preserve of B2C businesses. B2B companies have also gained head starts over their rivals by using big data to their advantage.
How B2B Companies Can Leverage Data to Drive Their Marketing Strategies
The following are some ways B2B marketers can leverage data and analytic tools to achieve their marketing goals.
- Adopting AI and Machine Learning
Artificial intelligence (AI) and machine learning may be technically expensive to implement. But, as a marketer, that’s exactly what you need to effectively mobilize your data and deliver results.
An AI-oriented analytics platform boosts customer retention by using automation to drive your decision-making process surrounding sourced data. This allows marketers to concentrate more on strategies, while intelligent machines take over tactical execution.
The efficiency of AI and machine learning systems would depend on the inputs that are fed into them. These tools work hand in hand with sales teams to refine your target market.
- Work with the Right Data
Big data is a fancy term that often confuses marketers to wrongly equate it to great opportunities. While that assumption is not entirely wrong, sometimes the best data does not necessarily have to be big; it just needs to be right.
When you’re able to focus on the most relevant data, it can help you to optimize your marketing strategies by cutting down costs.
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- Employ Big Data to Personalize Your Campaigns
When it comes to this topic, Amazon and Netflix do it best.
These companies use big data to personalize their recommendations for customers. When clients log in to their accounts on these websites — personalized recommendations that appeal to their interests (for the most part) are shown to them.
Here, we can clearly see the advantages of personalized campaigns over mass marketing. B2B companies are also encouraged to use this strategy.
Be sure to give your target audience the option to unsubscribe from the service at any time.
- Educate the Entire Company Staff
It’s true that the sales team is responsible for leveraging big data to drive productivity. But managers should also take a holistic approach to educating the entire company staff about how big data is related to their individual roles.
The gaps between marketers and IT departments should be bridged as well, though analysis of data can be done by the marketing team. When all the front-line staff in various departments are briefed on big data initiatives, it becomes easier to leverage that data judiciously.
B2C companies are best known for leveraging big data for marketing purposes. That said, the die is now cast for B2B organizations to also follow data-driven strategies to implement effective marketing strategies
Data insights can help B2B marketers to examine their market penetration and envision promising opportunities. By tapping into intelligent analytic tools, B2B companies can make the most out of their databases.