Understanding the Importance of Data in B2B Marketing

The idea behind data driven marketing is that you take the time to analyze your customers and their needs. You then tailor your business around what you learn rather than towing the line with industry-set norms in terms of creating, promoting, and selling products.

It sounds simple in theory but it’s one of the most powerful ways for any company to grow their customer base quickly without taking too many risks. Data-based marketing is about giving people what they want before they even know they want it. It may sound like voodoo magic but it isn’t; in fact, this method has been proven time and time again at companies like Apple or Google.

The trick to data driven marketing is figuring out how to use your data to find a niche within the niche. What sort of needs do you think a minority of your customers have that would support another product? If you can tailor a “professional” or “personal” service around this, you’ve got yourself a winner because you’re getting people involved in your brand who would otherwise not be interested.

The real trick here is using your past data to plan for the future by pinpointing what worked and what didn’t. You want to make sure that the next product, service or advertisement that you offer meets with customer approval and gives them exactly what they want. That way you’re not just putting out new products, you’re keeping your customers happy and providing them with a product or service that they can actually use.

This B2B Data Driven Marketing infographic post from Span Global Services will give you a brief about the evolution of marketing data, marketers' opinion on data-driven marketing and its impacts as well as different challenges while collecting it.