Batch-and-blast marketing campaigns are a thing of the past. To be successful these days, we need to distribute relevant messages. The same content will not resonate with each recipient.
With CRM databases that can sync with our website and marketing automation tools, we’re collecting more information on our clients and prospects than ever before. This technology and data integration isn’t just good for data collection; it’s great for execution too. After all, collecting data on customers is great and all, but it can also be overwhelming. Stephanie Miller says it best, “correct segmentation is just another way to talk about good data management.” So how do we humans make sense of it all and act on the data? Well, marketing automation tools can help by auto-segmenting our database and distributing relevant communications on our behalf.
However, what happens when we’re trying to capture new market opportunity and don’t have much data to use for segmentation? As marketers, we’re often trying to drive new contacts and prospects into our funnel and we typically don’t have a wealth of data if we haven’t had much engagement.
As we think of the funnel and particularly the top of the funnel, we tend to use a higher-level message to draw in the broader audience, increase awareness, and drive engagement. As engagement occurs, we can start capturing more data and – ta-da! – we can now start customizing our message.
With technology advancements, the broad approach to tap into market opportunity at the top of the funnel has become literally irrelevant. And, with economic and profitability pressures, it’s all the more important that we spend our budget as wisely as possible. Already, companies like Bizo and Demandbase allow for B2B marketers to implement account-based marketing plans so we can better target who we are talking to vs. broader impression buys for display ads.
Moreover, going back to Miller’s point about using data for segmentation, how do we gather information on target prospects that represent our market opportunity so we can better segment and message to them? Well, now companies like Mintigo are helping us do just that. To start, they can examine our client database and build a DNA of our best clients, which is essentially building a profile of the types of companies and contacts we should be going after. From there, we can work with them to identify a long list of criteria to track and uncover. It can be anything from company size to a particular application or page that we have on our company website (i.e., something that can indicate the company needs our solution). Again, the more information we collect, the more difficult it is for us humans to comprehend and act on. Not to worry, Mintigo also offers a platform to help flag and segment the opportunities (based on the criteria we outline) to feed into our marketing programs.
It’s a competitive world; let’s not let old habits hold us back nor get scared by massive amounts of data. Embrace segmentation and automation to help capture the market opportunity we deserve!
Market image on home page via Shutterstock.
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