Your marketing team's effectiveness is intrinsically tied to the quality of your marketing data and the efficiency of your marketing database software.
Increasing conversion rates comes down to properly using your marketing data in order to appeal to the right customer at the right time.
A proactive database marketing strategy aims to forever improve your buyer-seller relationships. However, data is key. To help you increase the amount of information you gather from your market, and to help you upgrade how that information is used, here are five essential database marketing strategies you need now.
1. Upgrading Your Lead Capture Form
Unfortunately, if you won't answer your own lead capture form, then it's a sure sign your customer's won't. A simplified lead capture form that's welcoming to customers on the front end, while being seamlessly integrated with your CRM, landing page and marketing database software on the back end, is the ultimate solution. Your customer fills out a simple form and your tools fill in the rest. It's simple, straightforward and painless.
2. Incorporating Lead Scoring
It's well-known that no two customers are the same. So, if that's true, then why do some B2B marketers make the all-too-common mistake of assuming that all leads are the same, have the same priority and are at the same position in the buyer's journey? Don't make that mistake. Use lead scoring to define and assess the quality of your leads and where each lead is in the decision making process.
3. Customized Lead Nurturing
Different leads need to be engaged at different times and with different offers. Some leads have done all their research in advance. When they arrive on your landing page, they're all but ready to be converted. Others aren't so certain. They peruse, investigate and then only proceed when ready.
Managing your buyer's journey means managing it differently for different buyer personas. It means nurturing different leads at different periods so that each lead is engaged at the right time and the right reasons. Your marketing data helps identify where these leads are, how they progress through their journey and when they abandon pursuit. Use lead nurturing to guide them along and then revisit results to isolate problem areas.
4. Go Deep and then Go Deeper
Put on that data mining hat and go as deep as possible. Incorporate a "Columbo" mindset and thoroughly investigate your marketing data. Today's digital strategies need to be managed at a microscopic level and the results they produce need to be scrutinized at every turn.
This means understanding why certain landing pages work well with certain prospects and customer segments. It means knowing how and when to launch a given digital campaign for a specific type of lead. It means understanding why certain digital campaigns work, while others continually fall short.
5. Customized Solutions Through Segmentation
The best database marketing strategies focus on a customized solution, one where the company's marketing data is used to leverage readymade offers at specific times. There are so many different caveats to this process. There are a number of different customer channels, customer segments, buyer personas and decision making processes to consider. Ultimately, it's how you use your data that determines success or failure.
If your marketing team doesn't have the tools to nurture those all-important leads through your buyer's journey, then it's all for naught. Continuously improving the quality of your data will help you reduce your costs of leads, lower your costs of customer acquisition and increase retention.