Once upon a time, in a land pre-digital, B2B data was a longed for resource.
Fast-forward to 2017 – data and technologies to handle it abound. So, why are senior marketing leaders still dissatisfied?
A new study commissioned by the Martech Industry Council has highlighted that 25% of businesses are using over 20 tools to handle, process and use the data available to them. No wonder they’re frustrated! That alone is a huge waste of precious time and the silos enormously restrict the ROI.
How many marketers want to spend hours of their working week managing databases? According to the research, only 11%. So, at best, you could find your business data relegated to the ‘chores’ list.
60% of marketing leaders are asking for a more accurate understanding of the buyer persona and person most likely to buy. It’s worrying that 60% don’t feel they have that currently. But it’s not surprising. Data sitting in separate systems doesn’t tell you enough. It’s only once data is brought together into an integrated platform that it can tell you a full story about your buyers.
75% of those surveyed said they’d like more time to develop and launch new campaigns. Tying in with problem no. 3 above, this suggests that marketers have to make assumptions about their buyer personas in order to get campaigns out within a time-frame. And as we all know, assumptions can be costly.
Here’s the solution:
In one word, integration. To be able to get truly actionable insights from data, it needs to be part of an ongoing loop that does the work for you. For high-value products, the sale is dependent on a good journey from lead to conversion and then retention. Actionable insight from data helps marketers to identify what works at what stage but it only becomes actionable when it takes customer behaviour from other departments into account.
High-value product or service marketers know that good quality leads are their primary goal. To get those leads, you need to know what leads have previously converted and what the characteristics are of the ones that went on to become the most profitable for your business.
Since it launched in late 2016, Dynamics 365 has been described as a game changer for operational efficiency and customer experience. For the first time, the full workflow is on one system so that every interaction is informed, and every sale is creating data and insight to fuel the next wave of marketing.
Find out more information by watching on our High Value Marketing Webinar .