Have you noticed how often the term “data-driven” is used in tech B2B companies? If not the exact words, certainly the sentiment? Data is at the very core of the products these companies make. So naturally, making decisions based on data and facts makes sense in technology-focused organizations.
Making decisions based on data in the engineering department is pretty straightforward, because the data is so readily available. That’s not always been the case for marketing. But the recent proliferation of martech tools means a proliferation of data. And not a moment too soon.
How do B2B buyers make decisions?
The B2B buying process, never simple, has grown increasingly complex. B2B buying decisions involve numerous stakeholders, each with their own concerns and pain points. A study by Gartner found that a typical B2B buying group involves six to ten decision-makers, and another study by McKinsey shows purchasers use an average of ten different channels to gather information that informs their purchases.
The same Gartner study shows that customers who found the information they received from suppliers helpful were 2.8 times more likely to feel at ease with their purchase, and three times more likely to spend more in total, with less regret.
What data do B2B tech marketers need?
Successfully marketing to multiple decision makers with individual concerns, who value useful information and are looking for it on an average of ten different channels, requires integrated, omnichannel, content-fueled programs.
And it requires the data to fuel them:
- Insights data, such as audience profiling, channel analysis, message testing and purchase consideration drivers help determine the best strategies and tactics to employ.
- Performance data reveals which of those strategies and tactics work and which ones don’t, and provides the means to optimize both.
In a virtuous and continuous cycle, performance data then becomes insights data, fostering continuous improvement. By executing insight-driven marketing strategies, evaluating their performance, and subsequently refining these strategies based on data, companies can ensure that their marketing approach evolves in step with customer needs and delivers optimum ROI.
To help guide more data-driven strategy, Publitek has recently launched Seer, a suite of performance monitoring and insights tools to provide real-time, actionable information that fuels smarter and more targeted marketing and communications programs. If you’d like to see Seer in action and learn more about how Publitek can help you become a truly data-driven marketing organization, I’d love to talk with you.