How data and analytics help you uncover the full potential of a new prospect
Michelangelo once said, “Every block of stone has a statue inside it and it is the task of the sculptor to discover it.” Modern marketers have a similar task; it’s your job to discover the relationship inside every prospect and set it free. To do this, you need data…but even more than that, you need to know how to use it.
Simply having data doesn’t create insight any more than having a paintbrush creates art. You have to know how to apply each to do something remarkable. Here are four things you’ll need to remember in order to use data-driven marketing to nurture the best leads:
1. Data should make it easier for marketers to identify valuable insights about potential customers. To begin with, data ought to provide answer to questions like:
- Which leads represent the greatest opportunity?
- Where should I focus my time, energy, and budget?
- What can I do to move the best prospects through the funnel?
- How can I maximize the revenue potential of every relationship?
2. Information is worthless unless you know how to use it. The challenge that most marketing organizations face is not the lack of data—it’s that they don’t do a good job of putting data to use. The key is to figure out which data is going to be most valuable to your organization and find creative ways to capture and make use of it. But simply having data doesn’t create insight any more than having a paintbrush creates art. You have to know how to apply each to do something remarkable.
3. Tools are no substitute for experience. Just because your business has invested in tools to nurture client relationships does not automatically mean that those tools are being used well. Smart marketers can use what they already know about existing customers to predict what should, or could, happen with similar prospects.
4. Sales and marketing collaboration is key. In far too many marketing organizations (maybe including yours?), the accumulated learning from the nurture process is abandoned when the lead moves from marketing to sales. But if the information gathered in the marketing process is valuable to marketers, shouldn’t it stand to reason that it would be valuable for sales as well? The customer engagement process doesn’t stop once a customer makes a purchase—and neither should your learning process. Customers will still be engaging with your brand and at that point it’s even more critical to pay attention to them than to prospects.
5. Customer data can benefit all departments. Every point of interaction between customers and your company is important. Marketing, sales, finance, customer service and support—they’re all involved in the relationship. And the journey that starts with a prospect should continue through purchase and repurchase. Ideally, it would include buying new products or services when it makes sense and organically developing brand advocacy.
Free eBook: Using Data to Nurture Your Best Leads
In this e-book, you’ll learn how data helps you uncover the full potential of a lead. You’ll find useful facts, fresh perspectives and easy tips for practicing the new art of data-inspired marketing. Download “Using Data to Nurture Your Best Leads” for a more detailed look at:
- Must-have customer data points for effective lead nurturing
- How to put data to good use in building strong, lasting relationships
- Key questions for mastering the art of B2B segmentation
- Why nurturing shouldn’t stop with a purchase – and how to work with sales to keep it going
- Why an organization-wide redefinition of the customer relationship is so important (and how marketing can take lead)
Get your free e-book and start using data to discover the relationship inside every prospect!