In Part One of Your Gameplan for Leveraging Data and Reaching Revenue Goals in 2024, we covered how to set measurable goals, create an ideal customer profile, and target the right people via segmented lists. This week, we’ll explore how enriched data empowers you to send the right message to the right people through scalable personalized content that is coordinated across a variety of channels, which leads to a triumphant customer journey—for them and you. Finally, we’ll talk about the importance of measuring your key performance indicators (KPIs) and pivoting according to what the data reveals.
Invest in Third Party Data
“How do you like it? More, More, More!” Andrea True, More, More, More
According to Acumen Research and Consulting, in 2021 the Data Enrichment Solutions Market had grown to $1.7 Billion, but is projected to more than double that number, reaching a whopping $3.5 Billion by 2030. Companies are quickly realizing that supplementing their first-party data with high-quality third-party data is a wise investment because it empowers you to do several things, including, but not limited to:
- Better understand current customers and cater to their preferences
- See new patterns and commonalities in your Ideal Customer Profiles (ICPs)
- View and pursue new markets, different approaches and opportunities
- Segment lists in more productive, efficient and profitable ways
- Personalize content according to each customer’s unique desires and needs
Seek a Variety of Ways to Engage in Content Personalization
“I’m bringing it to you personally.” Karla Bonoff, Personally
When it comes to reaching revenue goals, perhaps the most powerful weapon in your marketing arsenal is the tactic of personalizing content. According to research from McKinsey, companies can generate as much as 40 percent more revenue simply by using personalization. There are numerous ways to expand your personalization repertoire and create a more compelling journey for your customers. A few things we recommend customizing using the ultimate power combo of first- and third-party data include:
- Inbound Marketing – Personalize all of the pieces that compel folks to visit your site, from blog ads and case studies, to podcasts, SEO, webinars, and more. Use a variety of data points to draw people in, from shared problems and buying behaviors, to industry issues, geo-specific needs and title/role-driven goals.
- Outbound Marketing — Ads, emails, SMS, MMS, Direct Mail, etc. are all easy to personalize, thanks to the wonders of automation. What’s more, when you personalize cold outbound campaigns you have the potential to boost your ROI by eight times!
- Website — From web images that transition to mirror your customers’ personas and aspirations, to landing pages that address the specific problems they are trying to solve, there are many ways to subtly personalize content so that customers feel represented and understood by your brand. Additional places to consider personalizing content based on visitor data include headers, subheads, images, body copy, sidebars and calls to action (CTAs).
- Customer Service Communications — Don’t miss opportunities to further personalize a customer’s experience via transactional communications, such as invoices, receipts, shipping notifications, account updates and more.
Scale Personalization Across Channels
“I am the modern man.” STYX, Mr. Roboto
Marketing to every customer in a way that resonates deeply, without overwhelming your budget and resources is a matter of automating as much of the process as possible. There are a variety of levels of personalization, from broad approaches that are industry and or job-title specific, to highly customized content created for a specific segment of accounts or a single account. A few simple ways to personalize content include:
- Addressing the recipient by name and noting their title and role
- Using images that reflect the customer’s industry and experience
- Sending case studies specific to the customer’s industry or market
- Adding a personal note to pieces through a sales enablement tool
Tracking KPIs and Managing the Customer Journey
It’s imperative that everyone on your team understands each touchpoint in the customer sales cycle. Once campaigns are out there, it’s important to track the open rates, click-through rates, opt-out rates and requests for materials. These metrics demonstrate the strengths and weaknesses of each campaign and enable you to make modifications that ensure subsequent campaigns perform better. Tracking interactions also helps reveal insights that will improve the customer’s experience of your brand, as it shows you the places where prospects are dropping off and which campaigns are generating the most action, among other insights.
KPI Kick-Starter Questions
To mine insights from your data, you will need to start at a fixed point in time and track the journey of your KPIs. Then, compare benchmarks to your latest measurements to determine if you are on track to hit goals. As you track metrics over time, and note patterns and trends, you will glean insights on how to optimize performance. A good marketing/data dashboard will help you share insights in graphic reports that enable everyone to see and make decisions based on what the numbers show. A few questions to think about as you seek to leverage data to reach revenue goals are:
- What’s the engagement rate of each marketing piece? If it’s low, investigate if the content provides value to customers.
- What channels are producing the most engagement with leads? Are you investing in the wrong channels?
- What’s the landing page conversion rate?
- What percent of leads are from our ideal customer profile?
- How many leads took the next step, i.e. booked a call, started a trial, signed up for the newsletter, etc.?
- How many leads converted to revenue?
Let’s Make 2024 Your Best Year Yet
At Sureshot, we have a team of experts and a portfolio of data, messaging and CX solutions that are proven to help you realize a greater ROI on your marketing strategy and initiatives. To find out how we can help you go from setting revenue goals to achieving them, start by taking our FREE Martech Assessment.