In the past few months, marketers have struggled to keep up with changing customer preferences. Consumer confidence levels have changed quickly and behavior has changed at a rapid pace. With little time to adapt to the dangerously dynamic situation during the Covid-19 pandemic, B2B companies have to be on their toes to make sure their marketing strategies are in place.
Data is the cornerstone of every marketing team’s success. Real-time data is more important than ever in an increasingly virtual marketing world, to ensure campaigns resonate with customers right now. However, according to Salesforce Datorama’s ‘Marketing Intelligence Report’, 80% of marketers do not have access to daily or real-time data reports.
Steps to be taken to emerge stronger post lockdown
In such testing times, maintaining customer relationships and revenue depends on bringing out the best of your employees in the organization. Apart from a temporary disruption to normal life, the pandemic has changed how B2B companies market and sell. Companies are looking to reduce the effects and lay the groundwork to emerge stronger in comparison to its competitors.
1. Audit your existing CRM data
We live in a world that’s dynamic to its core – employees switch jobs, companies merge and relocate. In such a scenario, the data that seems relevant to you today might become stale as early as tomorrow. To cleanse and enrich your data, it is critical to conduct an audit to assess gaps, uncover errors and duplicates in your database.
2. Gather new customer and competitor insights
Target and sell to prospects who have a strong intent to buy your product. Create new opportunities to cross-sell, up-sell, and convert customers to your product. Know your competitor’s product and technology landscape with a data-driven approach.
3. Regularly review and update contact details between creativity and data
In today’s rapidly changing scenario, sales and marketing teams have a hard time keeping up with the data decay rate. Considering the diversity in different channels to reach out to a prospect, customer data like phone number, addresses, and emails change rapidly and it becomes difficult to keep a track of every little detail manually.
4. Digitize core products and services
Diversify more revenue streams from offline to online delivery methods, you’ll be future-proof better protected against future disruptions. Now may be the best time to accelerate any projects relating to ecommerce, online customer support resources, or online service delivery.
5. Re-evaluate target markets
The economy and society has changed already and will continue to do so post-pandemic. The plans written with target personas before the pandemic may have changed. Audit the demographics of your digital conversions before, during, and post lockdown. You can start by analyzing whether your target market has changed and identifying how each segment will react as we come out of lockdown. You can then align your products or services to their ‘new normal’ and consider plans to retain your new customer personas.
6. Enter Foreign Markets
If the pandemic has affected your domestic markets adversely, you should try entering newer markets. There are many fast-growing, yet less-competitive markets you can tap into. Just spin the globe and you will find an opportunity to sell something, somewhere. Unearthing just the right opportunity for your products and services will involve more work, of course.
How can B2B marketing tools software help?
While you and your teams adapt to working remotely from home, future-proofing your business processes is essential. Software and technology are the best options to help you stay ahead. The industry evolves quickly. In fact, more than 50% of marketers think that the martech industry itself is evolving faster than their business’s use of marketing tech.
So, if you want to stand out in a fiercely competitive market and keep up with your competitors, designing the ultimate martech stack to support your strategy is critical.
Benefits of b2b marketing technology
1. Gain useful insights on your best prospects
Getting to know your prospects is very critical – especially in the absence of face-to-face meetings and events. Additionally, your potential buyers expect high-quality, personalized outreach and messaging.
2. Automate, speed up or eliminate processes
Get seamless data delivery to your CRM, Marketing Automation and Sales Enablement Platforms in real-time with an always-on CRM experience. Identify new contacts from your target accounts and update your CRM in real-time with fresh contact data. With automation, B2B teams can reduce the time spent on menial and administrative tasks and, instead, focus on what they must actually be doing – selling.
3. Reduce human error
Through the power of intelligent software integrated with accurate business intelligence, the chances of human error are reduced. Whether through effective lead and data health analysis and enrichment or content automation, B2B marketing technology rectifies problems that may have been caused if an error is made by a team member.
4. Align multiple teams
Research indicates that ‘tightly aligned’ organizations achieve a 24% faster three-year revenue growth and 27% faster three-year profit growth. Equip your teams with all the tools, equipment and intelligence they would need to achieve common business goals.
5. Improve scalability and sustainability
Technology and B2B Software presents your business with the opportunity to maintain your revenue and business, as well as grow and expand. This helps develop consistency, and helps you increase your opportunities, even if your resources are limited.
CRM is more common for B2B companies that focus on lead generation, but these platforms can also help your company manage leads. CRMs can help you figure out where leads are in the funnel and assess opportunities. Marketing automation platforms are best used for lead nurturing, email auto responders and leads qualification to advance prospects through a predefined customer journey. Business Intelligence tools are also equally important. Sales Intelligence is much more than just contact data. It points to a wide range of technologies that help salespeople find, monitor and understand data that provides insights into prospects’ and existing clients’ business and behavior.
With InfoGenie, marketing teams can build ABM strategies to focus on highly relevant personas within target accounts. Users can search by levels, functions, titles, and location from a massive data pool of over 115 million to find the right decision makers within the target accounts. InfoGenie’s chrome extension enables your sales teams to be more productive, while being organized.
DataGenie provides CRM data health analysis and real-time enrichment of data. It enriches company and contact data within CRM in real-time with more than 60 relevant attributes. DataGenie helps sales and marketing operations better manage their CRM data and prospect more diligently with enriched contacts and accounts.
SMARTe aims to fill in gaps and provide seamless data delivery to CRM with the ability to provide fresh, accurate and global contact data in real-time. Our platforms empower sales development, sales operations, account management, marketing teams as well as demand generation and ABM teams to prospect more diligently and identify which leads should they focus on. They can search by levels, functions, titles, and location from a massive data pool of over 120 million to find the right decision makers within the target accounts.