Why B2B Firms Need a Marketing Strategy Based on Real-Time Data?

Marketers rely on data when it comes to developing a marketing campaign for their company. However, they often miss out on identifying whether the data they are using is static or dynamic. Static data refers to information collected at a specific point but is not updated.

 

It is important for marketers to look at the wider picture, which can be drawn with the help of real-time data. Real-time data helps you streamline and target the prospects who have an actual propensity to spend.

 

Now,

 

What is Real-Time Data?

Real-time data provides useful insights, which can be immediately processed and deployed as and when they occur. If a customer adds an item to their cart on an eCommerce website, the online representative of the said business will know it in real-time. With this data, the marketing team of the said online store can create a campaign to better attract the audience.

 

With real-time data, you can have a fast, efficient, and trackable marketing process. It also enables you to adjust your marketing campaign as per current information.

 

 

Benefits of Real-Time Data

 

Helps You Understand Your Customers

Real-time data helps you create an ideal buyer persona for your product along with static information such as addresses, preferences, habits, and more. Real-time data helps you delve into who your target customer is, and where you can find them. For example, if you have an HR solution to offer, your potential buyers are HR companies and CEOs of other big companies. You cannot market this product on TV commercials and Snapchat.

 

Why?

 

a. The product is not for the masses.

b. Your target audience is not active on social media platforms like Snapchat.

 

But you can definitely create a marketing strategy, which can go live on platforms like LinkedIn (primarily) and Facebook. Now, you can identify the right platforms and tonality only when you know who is most likely to buy your products, currently.

 

Craft a Better Communication Strategy

When you know real-time details about your potential customers, you can create a communication strategy around it. Let’s take the aforementioned HR solution for instance:

 

A company that offers HR solutions is a B2B company, meaning your target audience is another business. So, if you observe their real-time activities such as recent corporate events, news, etc. you can communicate with that company (potential customer) accordingly.

 

Dun & Bradstreet’s sales and marketing tool, Hoovers offers a variety of data from over 150 million companies across 1000+ industry segments. You can integrate this tool with your CRM system and leverage it in your sales and marketing planning. It also helps you create a list of qualified B2B leads. With 175+ filters, it ensures you market your product to businesses that are most likely to turn into a customer.

 

The data received from this tool can be used by both, marketers and the sales teams. The marketers can use it for niche targeting and creating a marketing strategy, whereas the sales team can use real-time data to develop a persuasive, impactful pitch.

 

Well-Defined Segmentation

The ads you would run to attract the CEO of a product-based company won’t grab the attention of a service-based company's CEO. Hence, it is important to run ads that target different segments. Market segmentation converts your target audience into smaller or specialised groups based on common demographics or their probability of conversion. Real-time data can help you segment your audience and create an effective ad for each segment.

 

Real-time data is too powerful a tool to be ignored by B2B marketers. Equipping your team with a tool like D&B Hoovers can help them convert more and more potential clients. When your sales team is aware of whom they are speaking to, they can hold a convincing conversation. It will help you sell more and react to the changing time or even the competition with more confidence.