Multiple research reports show that top performing marketers have improved their customer engagement, have made their organization more client-centric and gained competitive advantage and profitability for their organizations.
Despite these benefits, many companies are struggling with their data-centric efforts. In 2020 marketers expect to experience challenges in becoming a data-centric marketing department. Research by IBM shows that the main challenges are generating actionable insights and putting them into use.
Only 33% of elite marketers say they have the right technologies for data collection and analysis to understand their customers. According to eMarketer, only 25% of businesses are putting their data into use. Unfortunately, simply obtaining data doesn’t lead to a better strategy, and therefore lacks results.
It all starts by understanding how data can impact your marketing strategy. Organizations that have successfully adopted a data-driven approach set clear objectives and track metrics. Research shows marketers pursue different goals regarding this topic. Nonetheless, there are recurring ideas such as improved segmentation, conversion optimization and analysis of client behavior.
So, what can be learned from companies that are successful in data-driven marketing? In a report commissioned by Blazent, 40% of the study’s respondents feel confident about the state of their organization’s data quality. Thirty-nine percent of companies with high data quality standards clean their marketing data frequently to optimize quality. To conclude, it’s key to keep data relevant and clean.
Preview Chapter 2. Improve your segmentation
Let’s explore ways to segment your target market into hyper specific groups to increase the effectiveness of your campaigns. Market segmentation is the process of dividing a market of potential customers into groups based on different characteristics. With the abundance of data available today you will execute hyper-specific segmentation. And with more channels providing ways to integrate and connect different types of data you’re able to reach your customers with more relevant content than ever before.
1. Segment new users for a custom onboarding experience
Does your company provide a software solution? Can users get started with setting up their accounts? If so, it might be a smart idea to segment these users immediately when they sign up. By doing so, you’re able to provide them with a custom onboarding email experience to improve adoption of your solution.
2. Retarget users who have downloaded your whitepaper
A common playbook for generating leads is to promote whitepapers. For many companies, most of these contacts end up on a general newsletter list. What if you could activate these users with a personalized CTA that fits their customer journey?
By uploading their contact data to LinkedIn Ads, you’re able to retarget these users with a custom ad. Make sure there is a clear link between the topic of the whitepaper and the ad you’re promoting. By retargeting these users, you’re going to see better conversion rates compared to your regular promoted campaigns on LinkedIn.
3. Smart email segmentation with external data
Do you want to improve the response rates on your mailing lists? Segmentation is the way to do it. While results are great, segmentation is a common challenge for many marketers. Especially for those who have one bulk list which misses critical data points for segmentation.
A solution is to match 3rd party data with your current data set. Another smart solution is to segment your list using company size data or company segment data. With these first steps, you are already able to create mailings with a specific copy which will immediately result in improved open rates and CTR.
4. Split your next marketing campaign into two sub-campaigns
Chances are your product offering is focusing on a handful of target groups for which you’re creating campaigns for during the year. Challenge yourself to set up a campaign in which you look more closely to one segment. Ask yourself, can you split up this segment into two subgroups?
If so, are you able to tweak your message for these two groups by making them more specific? By using additional data, you’re able to split up your segment into sub-campaigns. You might see some nice surprises in overall performance compared to the campaign you ran before. Being more specific will help you boost your bottom line, which is great for business and for retaining customers.
5. Partner up with a company that works with the same target group
Why not collaborate with another company that is targeting the same segment you are? Look for related, but non- competing businesses. Or perhaps your company has an existing partner network which needs exploring? Exchanging or combining data sets will bring you new users to target. Chances are these sets have some interesting new data that will trigger ideas for messaging and segmentation.
The benefits are obvious. You’re able to collaborate on data and find new customers without any additional budget spending. Basically, you will both benefit from this collaboration. Just make sure users have agreed to share their data with external parties. Can you think of any organizations that might collect important data on your most crucial customer segments?
End of preview
This concludes the preview of the ebook. In the ebook itself you will find 12 chapters with a total of 39 practical use cases on how to successfully combine data and marketing. So what are you waiting for? Go ahead and download this free ebook now. We only ask your email address in return. Let it elevate your data-driven marketing strategy!
Chapter 1. The state of data-driven marketing
Effectivity, insights and revenue growth are key gains from making better use of data.
Chapter 2. Improve your segmentation
Start using hyper specific target groups.
Chapter 3. Best practice [Afas]
Learn from Afas how they improved cross-departmental collaboration using data.
Chapter 3. Take personalization to the next level
How to use data for advanced personalization that impacts the bottom line.
Chapter 4. Optimization your marketing channels
Squeeze the most out of your marketing budget.
Chapter 5. Boost your conversion rates
More revenue with the same media spend.
Chapter 6 - 12. Sales enablement and much much more
The ebook contains 12 chapters, all focused on sharing the lessons learned by leading companies that successfully combine data and marketing.