How to Play with Data for Qualitative Lead Generation and Effective Marketing?

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.