You hold good command of your business. You know the right
drill to sell the product or service. You have the right bunch of people around
you—your team. But there could be one thing which is holding back your business
from growth.
It is the right set of information or data.
Once you own the right set of data–ranging from consumer
persona, buyer’s demands, likes, and dislikes, and of course, the right product
to offer—you may very well venture out on the targeted install base campaigns and marketing strategies.
The world that we live in today is full of technological
marvels. Now, more than ever, it becomes quite important that even the remotest
marketing agency has the necessary armor to survive in the competitive world. For
small, medium, or large scale enterprises, the leaders can make a difference to
the outcomes by resorting to marketing qualified leads services, data
solutions, demand generation solutions, and HQL generation services for
the consumers.
The importance of the right data cannot be underestimated in the modern landscape. You won’t find the strategies that are created on the basis of instincts and education.
Do
you relate to this list of data gaps?
With data gaps, it refers to key pieces of information that
are missing in planning and execution. You and your teams are in search of data
to conduct some analysis or draw a conclusion. These data gaps can include
knowledge about customers, sales prospects, list of competitors and their
approach, and the internal performance of the company. Generally, people find
out these gaps in the upfront strategy setting and at all stages of execution.
Build
up your marketing and sales plan with the right data
For businesses, it is not just sufficient to create an effective
marketing and sales plan but also implement ways to generate marketing qualified leads.
1.
Data
solutions
For optimizing data, it is required to cleanse the data and remove
duplication (if it exists). The service of de-duplication includes
identification and removal of duplicate records in marketing automation and CRM
(Customer Relationship Management) platforms. Data solutions include
normalization of data, which is about ensuring that the data is clean,
complete, and meaningful for the business.
2.
Demand generation
solutions
It involves a technique where customers are engaged and informed
up to a level where they get excited about the offered products and services.
The process of engaging customers to complete the process of demand generation
includes reaching out to the market, promoting new products, and nudging silent,
inactive customers. It is about creating a strong database of potential
customers proactively for the future sales requirements of the market. Demand
generation involves the complete strategic process of acquiring potential
customers.
3.
Install base
targeting
With the identification of the database of users that use one
or more of the products, and by analyzing the install base of competitors, you
can easily unveil new insights into the buyer’s profile and preferences. The
approach is generally recognized by install base targeting or install
base marketing.
4.
HQL solutions
You might not know, but some leads are perfectly primed to
purchase. Some individuals are involved in the decision-making process, and who
are ready to get into meaningful conversations and have a requirement that your
solution can address.
So, the drill is to identify these sales-ready leads and then
develop assets and campaigns to engage and qualify them. The data is generated
in a way where the analysts find out potential leads, also called high quality
lead generation, examine whether they will fit or not, and then pass on their
info to the sales and marketing teams.
5.
ABM & PBM
solutions
The ABM (account-based marketing) integrates touchpoints with
key account contacts across multiple channels with an objective to increase
engagement and conversion. It generates data that contains the list of
prospects that are likely to buy and the right time to engage accounts. ABM
marketing involves personalizing user experience by gaining their trust, custom
creation of content, and educating the audience about the products and services.
Another quite similar and next level method to ABM is PBM
(person-based marketing). In this approach, the marketers and salesperson get
to talk to the prospective consumers and learn about their behavior and
choices. They then send out ads only to the decision-makers in the targeted
company and generate data out of the ad impact and the reaction as soon as the email
is sent.
Sharpen
your marketing and sales plan with the right approach
1.
Improve
customer lifetime value
There are several opportunities to identify underserved
customers. Take a step toward identification, which will boost the company’s
revenues fivefold for its products. This approach also helps in the retention
of customers. Also, the business needs to find out how to engage a customer
well before he takes some action and decides to leave. Install base
marketing and install base targeting come in quite handy here.
2.
Change
management
Earlier, traditional sales planning relied on account
segmentation and historical knowledge than up-to-date facts. But it leads to a
sales model that will become inefficient and inconsistent over time. If a sales
operations team introduces basic analytics to sales planning, resource
allocation becomes much more effective. It has the ability to turn up sales by
5–10%. Analytics has the power of revolutionizing the understanding of sales
talent and field behavior.
These analytics also help in identifying the best salespeople
and allocate them the most important accounts. It will also reveal the
important traits of high-performing people, which will help in the development
of other individuals too.
Conclusion
So, basically, when the idea is to enhance the sales and
marketing plan, as a team, you should find out what you don’t know. It is like arming
yourself with intelligent data that will help in making meaningful and informed
decisions. The data can be generated after implementing HQL generation, ABM, install
base targeting, and demand generation solutions. Take the help
or outsource a marketing qualified leadscompany offering these solutions and lead the way toward actionable
insights. Therefore, the data and information will always lead to a thriving business
as the status quo is a dangerous place in a business marketplace.
