Recently, Business-to-Business (B2B) marketers have been re-tweeting an evergreen article by Keke Wu, Director of Analytics at the Massachusetts-based data company Avention. The blog post, originally appearing on the industry website DataInformed, is an overview of how big data and #MRX can help B2B marketers create more powerful predictive analytics and behavioral models.
Wu points out that today’s B2B marketers have easy access to a great deal of “foundational data” about prospects: company sizes, locations, purchase history, and how companies use products and services. The availability of “firmographics” like these allows marketers to segment (for example, by vertical or size), create buyer profiles, develop custom marketing strategies for each segment, and measure and analyze results.
“Predictive analytics helps B2B marketers do what B2C has done for years: Pair high-level data with more specific, actionable information so that strategies are more likely to drive conversions.”
— Keke Wu, Director of Analytics, Avention
Using big data in this way is a significant development. By taking data a step further and using it to make predictive models about behavior, B2B companies can develop an even greater competitive edge. Wu suggests marketers integrate psychographics and information about behavioral triggers as well in order to get a more detailed picture of prospects: how they run their companies, what they might need in the given moment, and what actions they might be ready to take.
Wu offers a case study of a company selling a cloud-based solution. “With the help of big data, it can hyper-segment its market and target early technology adopters,” says Wu. “Integrating additional data sources enables B2B marketers to target precisely the audience they are after – for example, analytics-driven organizations or companies with strong diversity policies.” By integrating these behavioral insights, marketers can make reasonable predictions about purchasing behaviors and can adjust their campaigns to deliver timely, targeted, persuasive content to the person or people in charge of making decisions.
To move from a stable marketing strategy to a great one, the final step is to make the campaign actionable. Wu points out the importance of timing. For example, if a company has recently hired a new executive, the ideal moment to approach this decision-maker may be a few months after she’s started in her new position. Big data, combined with other forms of B2B market research, can help create a more complete picture of a company. This in turn allows B2B marketers to create specific, actionable campaigns that are more likely to convert to sales.
To view the full post by Wu, click here.