Business-to-business (B2B) marketing is hugely dependent on account-based marketing, which means businesses need expert lead scoring and targeting skills to create returns. Segmenting and targeting data is a key element in attracting the right types of leads and improving lead nurturing. Here are some easy ways to improve targeting and increase the effectiveness of your B2B marketing.
Segment Data to Identify Various Customer Needs
Before even delving into targeting, you need to begin by segmenting your data. Segmenting allows you to analyze the various different customer needs. For instance, if you work in the clothing industry, your customer base can be separated based on logical similarities, such as size and gender. Some customers may be more interested in your accessories than clothes or vice versa. No matter what your industry, you can't please all customers with the same product, so segmenting data is the best way to improve targeting.
Determine the Best Groups to Target
The goal should be to approach targeting in a way that's most efficient and will create the most returns. As such, you don't want to haphazardly approach your endless list of data segments, attempting to target all of them at once. Instead, you need to prioritize. Ask yourself a few simple questions.
• Are the needs of this segment already being served by competitors? The more competitors there are for the segment, the more challenging targeting will be. It's best to focus your targeting on the most promising segments.
• What impact does this segment have on overall income? What is the anticipated growth rate of this segment? Since the goal is to create returns, you need to contemplate whether the return is worth the effort. If the segment composes a negligible portion of your annual revenue, it may not be worth the time and money to target.
• Can your business cater to the needs and behaviors of this group? This question needs to be answered honestly. If you sell female clothing, you shouldn't be focusing your efforts targeting your handful of male customers. If you're a deli, you shouldn't be focusing your energies on the vegans and vegetarians. Target the groups that your business is most equipped to serve, so it will actually pay off in long-term customers.
To determine the best groups to target, you need to narrow your segments based on marketplace saturation, the impact on overall revenue, and your ability to meet their needs. After doing so, you'll have chiseled out a list of core targets.
Segmenting helps to break down customer data to identify unique behaviors.
Target Ads to Individuals, Not Audiences
Now that you've developed a reliable list of targets, you can begin devising your campaign. Your advertisements can be based directly on the data you acquired, enabling you to craft advertisements that appeal to the visitor's specific needs or behavior. Advertising in this way seems like more work on the surface, but it's actually been shown to save considerable funds and can improve the efficiency and ROI of your marketing campaign.
Improve Targeting with a Data Management System
Targeting sounds like a lot of work, right? That's why you need the right tools to help you along. With a data management system, like marketing automation software, you'll access a feature-rich tool that can help you improve data quality, segment your data, automate lead scoring, and enhance your targeting abilities. With automation tools, you can conquer more work in less time, while improving the quality of your leads.
ReachForce SmartForms helps marketers increase revenue contribution by solving some of their toughest data collection and management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like landing pages better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce SmartForms can help you improve your lead generation efforts at your own pace.