Driving Growth: How to Utilize Advanced Behavioral Insights in B2B Marketing
Hear this out! Behavioral data says that you need to work more on your business propositions, as only 48% of the buyers have a relative interest in it.
What if we tell you, that if you invest in Behavioral Analytics for web traffic and lead generation, you can generate 47% ROI on it. Well, most of the marketers aren’t even aware of it.
Using data to just segment and shoot the campaigns right to the audience is something tedious and not so effective, the case has become like the audience is aware of most of the marketing tactics. So, the one thing that we can extract from data is behavioral analysis of the target audience.
Let’s see how we can do it.
Knowing Behavioral Insights Better
Behavioral study of prospects in the given context of B2B marketing involves analyzing the data based on how people behave, how do they take decisions, or how do they interact with product or services that you may are offering to them.
These data-based insights are gathered from various website analytics, CRM systems, social media interactions, and more. To get the close to perfect interpretation of these insights AI and machine learning is also get used.
How does this reflect in numbers? Take a look below:
(Source: Marketing Charts)
The Role of Data Analytics
The first move towards employing behavioural insights is to gather and analyse the necessary data. These include:
1. Data Collection:
This stage involves gathering information from various points of contact like website visits, email interactions, social media engagements and purchase history. Such tools as HubSpot, Google Analytics or Salesforce are quite handy in this regard.
2. Data Integration:
This involves putting together data from different sources in order to have a complete understanding of customer behavior. When your data management systems are strong then integration tools are required for this purpose.
3. Data Analysis:
With advanced analytics the information can be interpretated. Using statistical data predictive modelling or machine learning, algorithms discover patterns and trends from which we can extract meaningful chunk from big data.
Segmentation and Personalization
Next, after you have grasped what your data entails, the first process involved is segmentation. This refers to dividing your audience into groups based on their actions and attributes. For instance, clients’ frequency of purchase, sector of operation, firm size or engagement levels are some of the categories to look for as far as segmenting them is concerned.
With these segments known you can now design marketing strategies for each category. This is where personalization comes in. Personalized marketing messages resonate more with recipients because they address their specific needs and preferences.
Methods include:
1. Dynamic Content:
Altering website content, email messages and advertisements depending on a user’s profile and activities.
2. Customized Offers:
Offering deals that really matters to customer, do not bombard them with irrelevant ad and offers.
3. Personalized Communication:
Send them personalized communications, through the channels that they are active mostly on.
Proactive Marketing Through Predictive Analytics
Using historical data, one can predict big and bet on future. This can be very powerful in B2B marketing. It enables you to drive your business through; understanding what a customer may require or how he may act, proactively satisfying his needs and improving its experience as well.
For example;
1. Sales forecasting:
Looking at which leads are most likely to turn into sales and focusing energy on them.
2. Churn prediction:
By identifying those customers who are at risk of leaving and creating retention programs to keep them engaged.
3. Upsell/Cross-sell opportunities:
Identify what clients might want additional products or services, then approach them accordingly.
Improving Customer Experience
When it comes to buyer journey your CX is the most important thing as it’s being the deciding factor on purchase decision. And it can also help you get behavioral insight, also you can improve with following points:
1. Personalized Onboarding:
With keeping individual needs and preference in mind, marketers can onboard new customers.
2. Targeted Content Marketing:
Creating such content that’ll resonate with the audience and tipple will tap their pain points with such uniqueness.
3. Efficient Customer Support:
Expect the most occurring issues and be ready with the suitable solution even before it is requested.
Measuring and Optimizing
It is important that you keep tracking and measuring the results of the efforts that you are putting, so that you can strategies better:
1. Setting KPIs:
Never measure your strategy success with a wrong KPI, always use the most relevant one which is perfectly aligned with your business goals.
2. A/B Testing:
Always keep experimenting with the approaches that you are keeping with the marketing ops.
3. Iterative Improvements:
Using ongoing improvements in your measurement techniques, continuous changes will be made in relation to your marketing strategies.
In Conclusion,
It is not enough to stay competitive in B2B marketing without the use of advanced behavioral insights; it is mandatory. By adapting and applying this knowledge, companies can better position themselves for more targeted and better planned marketing campaigns. Consequently, there will be increased revenue generation as well as growth and enhanced relationships with customers.
In the future, with technological advancements taking place, there would be more avenues that will open up for innovative approaches that are driven by behavioral insights and Vereigen Media is here to help you with it. Connect with us now!