Data-driven B2B Marketing: Personalize Customer Experience
In today’s world of data-driven marketing, there’s no excuse for not optimizing customer experience (CX) for specific buyer requirements. A customized, smart, and comfortable customer journey is no longer a novelty but something expected of any business and brand.
A study conducted by Invespcro states that 63% of marketing leaders firmly agree that data-driven marketing is essential to the economy. Over recent years, this perspective has been amplified in B2B marketing across different sectors, as users experience the benefits of data-driven marketing and the rapidly evolving supporting technology. According to Hyper Island, the results look promising, too: 75% of companies experience increased engagement when they use data-driven marketing.
Use Data-driven Marketing to Improve Buyer CX
Staying ahead of your competitors to deliver the best experience requires first understanding the buyers’ requirements. Many have found that a data-driven marketing approach a reliable solution. Accumulating relevant data from prospects and customers, then analyzing it as per business KPIs provides insights into improving CX and the buying journey.
Data obtained during various touch-points during a journey on your website or app, from the first interaction to the last conversion, help you learn about buyer behavior at each touchpoint and strategize accordingly.
For example, if you notice a high bounce rate at a specific stage during the journey, you can make the UI more intuitive for that stage. Or you can choose to skip the stage altogether and make the process smoother or easier.
Let’s take a look at a few ways to use data to improve your own B2B marketing efforts and CX outcomes.
1 – Implement Personalization
According to The Global Review of Data-Driven Marketing and Advertising, 53% of marketers claim high demand for customer-centric interactions. This means as close to personal as possible (given today’s conditions), either by providing relevance, timeliness, or both. Another statistic from Invescpro states when businesses practice data-driven personalization in their marketing strategy, they deliver 5-8 times more ROI. Worth looking into.
There’s no ambiguity about the fact that personalization is beneficial for business. Apart from forming rapport by giving brand engagement a human touch, data-driven personalization also makes it more relevant.
For example, the clothing e-commerce brand Myntra uses customer data to recommend products according to the weather, season, and festivals. Besides building Myntra’s reputation as an innovative brand, this marketing move made the customers feel individually connected to it, which contributes significantly towards ensuring customer retention. B2B brands can tap intent data to recommend content or services. Your awareness of their interests positions you as a helper.
2 – Recognize Relevant Channels
Despite the hype around the versatility of digital marketing channels, some brands continue uploading variations of the same content on every channel. For most of the part, they ignore the enormous role that data can play in deciding and customizing the B2B marketing strategy.
B2B marketers know that different channels may serve better for different purposes. That can depend on the business category, the message a particular campaign delivers, the target audience, and other factors. A data-driven marketing approach helps you identify which channels reap the best results for your campaign. Knowing that you can make smarter decisions around the B2B marketing budget.
Apart from analytical data from the different digital platforms, buyer data contributes to customer personas to also help identify various channels’ pertinence. For example, a brand that knows it has maximum engagement with a customer base in the age group of 25-40 would find it more profitable to use channels with more users of the same age group.
3 – Reward Loyal Customers
Data-driven marketing makes it easier to identify loyal customers and offer rewards that make them feel special — because they are! One of the best ways for businesses to implement this is to use data to bring personalization to a loyalty program. For example, Sephora uses customer data to reward their subscribers on their birthdays, send special wishes, and even goes the extra mile by giving them personalized offers in the form of special discounts and deals. In B2B data-driven marketing, that might be gifting a prospect with an exclusive piece of content or a trial offer around a topic they’ve shown interest in.
Using behavioral data to offer customers a more personalized human experience may seem like an ambiguity if you’re new to data-driven marketing. However, industry leaders regularly adopt this strategy, and some see exceptional success rates.
B2B marketers benefit when they use this data to monitor promotions and incentives to see which earn engagement. It’s proven to be an efficient method of tracking buyers and analyzing your target group’s buying patterns.
The Sooner You Adopt, The More Agile You’ll Be
A strategy based on data-driven marketing brings a lot of positive transformation your way along with the agility to respond.
The outcome could be something more tangible, like improving your content based on buyer engagement analytics. Or it could be something like making your brand identity more diverse based on demographic data.
Launching a data-driven marketing strategy lets you gain experiential knowledge about the unique way your business can use data for buyer insights. A well-executed strategy can be a reliable data source in the future and serve your business as a self-sustaining marketing model.
To learn more about using intent-based personalization in your data-driven marketing, see these articles: Why Personalization Is the Remedy for “Content Shock” and, The Secret to Successful B2B Personalization.