Garbage in. Garbage out. If you’re starting with dirty data, you’re bound to get muddled results. Gartner predicts that in 2024, the rate of B2B data decay will be over 70% per year.* It’s the quality, not the quantity, of your data that will help glean the best results. With B2B data decay rates at an all time high it’s important to keep on top of your data hygiene.
Alignment of all your data — whether first, second or third party — allows you to define your total addressable market (TAM) in detail. Types of data to evaluate when starting to clean your data include:
• First-Party: Collected directly from customers and audiences on your own channels.
• Second-Party: Acquired from a trusted partner.
• Third-Party: Collected by an aggregator across other companies’ websites, apps, registrations, etc.
Keep in mind — speed matters. The longer you take to get your arms around your data, the greater opportunity for the data you have to become stale. The time to tackle the challenge is now.
Identify your prospects’ intentions.
A clear and aligned picture of all your data, and consequently your prospects, provides the ability to leverage intent data as yet another tool to increase partner engagement. Intent data helps determine which of your prospects are in-market and which are latent. In other words, in-market prospects are ready and searching for whatever product or service you have to offer, i.e., showing intent through online search patterns and behaviors. Latent prospects meet all the same criteria but may not be looking for your solution — yet. By understanding the motivation level of your prospects, you can leverage the right data at the right time to optimize your campaign outreach. We’ll dive into intent data more thoroughly in our next Perspective installment.
Forcast opportunity more accurately.
Understanding the opportunity available goes beyond marketing to just the right persona. Think through possible use cases, and those who inform the buying decisions within those organizations, to ensure you’re reaching both buyers and influencers, and better qualifying leads for sales follow-up (SQLs).
Build an effective ABM strategy.
Once your data is aligned, you will be able to build your marketing strategy foundation including campaign themes, and matching trigger offers and content for each buyer group (net new logos vs installed base). For your installed base, vet against CRM, order management systems, and ensure accurate account-to-partner mappings.
Ready to learn more about how to get the data you need for effective marketing outreach? Give us 30 minutes and we’d love to tell you more.
*2024 Gartner Top Strategic Trends: https://www.gartner.com/en/information-technology/insights/top-technology-trends