02 Jul What is a data driven marketing methodology?
Following on from a talk we gave last month at SaaStock’sfirst online event, I thought that I should share the insights given in my talk through a mini-series of content, for anyone that’s interested!
Where do I even begin?
The marketing landscape today
With the rush to get campaigns underway and get new business in the door – it’s tempting to skip the thought process and research that’s really required as the stable foundation to a strong and successful marketing campaign. Whether you’re in SaaS, an MSP or an ISP, we often see campaigns run with a lack of insight and awareness of the actual target customer.
The vital first few questions that you should be asking before starting any campaign are…
• How many potential customers are there for my product?
• What do those potential customers look like?
• How big are they?
• Where are they based?
Without this understanding, it’s likely your business is broadcasting untargeted generalistic messaging and you’ll be hoping it’ll resonate with an unknown, unquantified audience; and potentially worse, miss the opportunity to follow-up with a critical sales human touch.
All in all, wasting not only time, but budget too.
So, what should I actually be doing?
A data driven marketing methodology
Exactly what it says on the tin – a data driven marketing methodology centres on a marketing data list, and sequences all contact points around that audience of well curated prospects that you would love to do business with.
This process starts by essentially applying ‘marketing 101’ basic techniques.
To ensure your marketing is worthwhile, do the research on your target audience. Are there enough of them to make this campaign worthwhile and achieve the ROI you need? What is your likely or average conversion rate? What will your cost of acquisition be?
Once you have the fundamentals covered, you need to get building that marketing list. There are options to purchase data lists from traditional data houses, or your agency partner should support you in sourcing a list that is tailored to your demographic – (pssst this is something we do!).
What makes a good marketing list?
• Up to date accurate company location & contact information (note often data suppliers have the challenge between registered businesses addresses and actual trading addresses – registered addresses are useless if the business doesn’t actually trade in the territory where you need them to be!)
• At least 2 or 3 contact individuals (maximise your chances of hitting the right decision maker – and influencers. The latter are often dismissed in the sales process, but can be a powerful tool for you in getting a business to hear your message)
• Information that’s publicly sourced (to get around pesky GDPR challenges – at least in a B2B world. If someone has willingly posted their details online by having a LinkedIn profile – it’s visible to anyone and everyone who they are, where they work and what their role is).
Having a well curated audience not only helps you get the most of your marketing message by hitting the right people with your messages in the first place, but also allows you to tailor your message to suit that specific audience. Whether that’s by a specific geography, size of business or particular industry vertical.
The more tailored your data + the more tailored your marketing = the more they’ll understand and digest your message.
Right, let’s get started then…
We’d love to help
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