26 April 2021
Since 53% of buyers are currently in the market for B2B services, expanding your business-to-business marketing campaign is essential for growth. You likely have already assembled data on your growth figures, present finances, and client leads. This is a great first step towards success, but you need to use these data insights to boost your ROI.
Here, we’re going to talk about how you can turn B2B data insights into actionable growth strategies. Read on to grow your business and forge lasting connections with other businesses.
Use Smart Data Solutions
The first step towards creating actionable growth strategies from data is to use the appropriate tools. Kompass has services specifically meant for data integration so that you can maintain, upgrade, and gain ideas from your database. Our tool allows you to perform data audits frequently and assess what information can be used to reach out to consumers and extend your reach.
Additionally, the service offers data matching and enrichment strategies to build a refresh and high-quality database detailing your performance, budget, leads, and more. You can therefore speed up your sales performance and talk with other professionals on how the clearly readable data is to be used. Smart data tools are great for visualizing both where you currently are and where you’re headed.
You can also easily extract data such as contact lists from your Kompass database. This means that you can have access to contact lists and direct your marketing campaigns appropriately. You also can change figures and information and add data frequently including the main activities of your company, new businesses that you want to work with, and the turnover of the business you’re targeting.
Measure and Organize Appropriate Data
You likely have taken data on a multitude of concepts related to your business, but it’s important to pick out the most important ones for creating B2B strategies. Look into data such as:
- What marketing channels / social media platforms drive the most conversions for your business
- What parts of your webpage people bounce on the most often
- Trends in the demographics (age, sex, location, occupation) of those who already use your business
- Trends in the demographics of those who look at your business webpage and bounce
- What devices other business owners are using to find and contact you
Make sure that you place this critical data in accessible locations. Keep it separate from other insights. This will make data segmentation and analysis a much easier process.
Implement Segmentation Strategies
To make the important data that you’re organized accessible, you will need to go for segmentation. This means grouping your data into small ‘segments’ that contain other data similar to it. This similarity is chosen based on parameters that let you use it efficiently to carry out your operations.
There are many benefits to this, but the main one is that you can conduct a full analysis of the data within your Kompass database. This will help you to identify specific challenges that you are having and come up with strategies that can help you to resolve the things you’re struggling with. Since you can look at other groupings of data, you will be able to create these resolutions based on empirical evidence.
Segmentation strategies also are essential for B2B marketing because it helps you to create marketing campaigns that are tailored to your target audience. Do certain businesses/industries make use of your services more often than others? Segmentation can help you to see this and to appeal to the needs of your largest buyer demographics.
People remember about 80% of what they see. This is in contrast with remembering only 10% of what they hear.
In addition, 95% of B2B buyers want to see visual content rather than walls of text? Well, it’s true. These same buyers also want the content to be short, to=the-point, and accessible on mobile devices.
To create actionable growth strategies, you need to come up with data visualization strategies. Present your data to your B2B marketing team in the form of infographics and video so that they will remember what you showed them. Your employees will then be able to articulate not only what trends existed in the data, but also how and why it is the way that it is. This is because you will have presented it clearly in the form of infographics and thereby allowed them to retain 70% more information.
You also will show these same graphics to B2B clients. This will make your business more memorable and ensure that they understand the merits of working with you.
This may sound easier said than done, but our tool allows for visualization after segmentation takes place. You can export the data you need directly from our database and turn it into charts, graphs, and infographics.
Build a Quantifiable Plan for Optimization
Once everyone has seen visualized data and is on the same page, you can then create a plan to optimize your B2B campaign. Continue to analyze and monitor the insights that you have segmented and made easy to read so that you can see when things change for the better. Look into the investments that aren’t giving you high ROI and improve/eliminate them when necessary.
Make sure to talk with your team and discuss ways that you can improve your services. Deploy A/B tests and continuously monitor your KPI when creating and updating strategies. This will give you a way to quantify your success and help you understand what must be altered in order to grow.
Talk to a Data Insights Expert
Now that you know some ways that you can create actionable growth strategies based on data insights, it’s time to get started. Data consulting is the first step in the process of getting your business on the right track.
Contact our professionals for help using data analytics to implement business models and boost your ROI. We’re excited to consult with you and come up with a plan based on your individual needs, so don’t hesitate to reach out.