Tracking a prospect back to the first stages of the Marketing Funnel can be next to impossible. How can you be sure when the first exposure occurred? How can you know when a prospect passed the stage of evaluating a product and put your brand on the short list? As prospective customers move from marketing channel to channel, how can you develop strategies and tactics to effectively drive sales?
Combining and Layering Data
Most marketers already indulge in gathering their own data, usually through lead form submissions. Traditionally, cookies have worked well, but as prospects migrate among various online identities and across devices, cookies aren't such a no-brainer at all anymore. Though your own marketing data is critical, and indeed useful, it's also a good idea to invest in third party data, if you're finding that your marketing database is light. When you layer this data with your own data, a more complete picture of the buying process emerges.
While layering data does help build and refine your ideal customer profile, it also gives you more visibility into the holistic picture of buyers and their journey from unawareness to paying customer. Additionally, this model for acquiring and using data is less intrusive on an individual's privacy. You're essentially developing a picture of look-alike customers, instead of focusing on individuals and their own habits. This is not to say that developing individualized and personalized marketing isn't effective, it is merely to point out the benefits of a holistic approach to deriving marketing strategies from a compilation of data.
Encouraging Purchases Across Marketing Channels
B2B Marketers can drive purchase decisions from many angles. For instance, you can encourage your online visitors to convert in multiple marketing channels by using clear call-to-actions that drive them to call, click, or chat. For many, e-commerce is a large part of the business model, allowing the prospect to quickly convert without having to speak with a sales representative. If you're noticing that a large part of prospects are stalling on the purchase page, you may consider using a live chat feature to help guide prospects through conversion, or simply answer any questions they may have.
Another proven marketing channel is your company blog or resource page. You may notice a number of visitors coming to your site through organic or other means and the challenge is - how do you convert those visitors? In this instance you may want to drive prospects to fill out a form to download your latest content, or simply provide an email address to receive an ongoing newsletter with your most up-to-date content. While these steps may not encourage a direct purchase from your site, it will build trust with your prospects, so when they come back to you when they are ready to purchase.
Understanding Where a Prospect is in the Marketing Funnel
In order to get a handle on strategies for a multi-channel buying process, you have to have accurate data. The data is where you will find meaningful insight into prospects who are still in the discovery process versus those who are ready to buy, or have made a purchase. Again, having your own in-house data on the interactions of the prospective customer with your company is essential. But supplementing this data with information from their social media accounts, online identities, etc. gives you the part of the puzzle you've been missing.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.
To learn more about how ReachForce can help you optimize demand generation and your impact on revenue, check out our real-time web form enrichment demo, or request a free marketing data diagnostic. Get the power to let data drive marketing and higher performance.