Has the world gone crazy? If there’s one thing marketers can still rely on, it’s the power of data to help you reach your target audience.
Marketing trends forecast for 2022 tell us that the way to reach B2B buyers has changed dramatically. This shouldn’t come as a surprise, given the seismic shift in the way we work, conduct business and live our lives. And, of course, the advances in data gathering and data-driven marketing.
Data Activation to Boost Customer Loyalty
High-growth companies are using first-party data to optimise targeting and tailor media. First-party data is information that a business collects from any of its customer touchpoints. The value lies in knowing where your customer is in the sales funnel, and serving marketing that is relevant and personal.
But word to the wise: When using data, it’s imperative to strike a balance, erring on helpful in lieu of creepy. Be tactful. Yes, you may know the name of the organisation you are targeting but addressing them on the wider internet by that name does feel a lot like stalking (and not so helpful). Needless to say, stalking does not a happy and loyal customer make.
And customer retention is vital. First-party data gives you the insight to keep a customer loyal. According to a report by Bain & Company and Harvard Business School, ‘‘increasing customer retention rates by 5% increases profits by 25% to 95%.’’ As if that weren’t enough, you’re 50% more likely to upsell or cross-sell new products to existing clients – who are, on average, ready to spend 31% more than new clients.
Speaking of new clients, what are the stats of selling to a new customer? The numbers fall somewhere between 5% and 20%.
But what about new leads? There are tactics to supplement first-party data to give a brand an edge.
Social Selling to Convert New Leads
The marketing world is abuzz with the concept of social selling. Selling without selling is all well and good, but the time will come for the sales conversation. And, unless you’ve cultivated the right target audience, the resources you’ve invested into building thought leadership will have been wasted.
As would tailoring your website, social content, press releases and ads for the wrong audience.
Data activation enables targeting by job role, industry and interest – aligning you with the right influencers and decision-makers. Resources aren’t flung out indiscriminately to administrative assistants and COO’s alike. And in the case of scouting new prospects? That’s where Dot Network comes in. We help define your key message and then, most importantly, we get it in front of the relevant audience – and just them. With targeted ads, Dot Network specialises in data activation to cultivate and nurture high-value B2B leads.
Speak to us today so we can find your audiences, expand them and convert them – faster.