How marketing analytics influences the journey from contact to customer
Following up on our previous article that touched upon data analysis to reduce churn in Telecom, this article focuses on analytics approaches for demand generation in marketing.
Producing quality leads has always been a challenge and according to the 2015 State of Marketing survey, “Quality of leads among pressing business challenges.” Many companies allocate much time and resources to marketing activities (such as email, call and message campaigns, events, blogs, and ads) without understanding customer requirements clearly. Every marketing activity aimed at non-potential prospect/customer is a wasted dollar, a result of taking shots in the dark. Hence it is vital to understand customer preference and accordingly identify the most effective data source.
The conclusion “Marketing analytics ranks #2 the most critical and important technology to the customer journey.” This is an important tool used to analyze data (company website, email, social, web crawling, business directories, APIs) and rate them across business metrics such as traffic, leads, and sales and gain actionable insights into whether leads can become customers.
Applying marketing analytics to lead generation in B2B marketing helps…
– analyze prospects and data
– improve the performance of marketing campaigns
– transform customer data into customer insights
Demand generation tools are a different breed from any other type of application we have built, because the solution depends on the quality of incoming data, how soon it is brought into the analytics framework and the challenges in data aggregation and analysis depending on the number of data sources.
Recently we helped a client by developing a framework tool to improve the effectiveness of their marketing activities. This tool was easily configurable: a dynamic web crawler using Apache NUTCH and Apache Hadoop as backbone, and an extensible plug-in architecture with many customization features that could be used at runtime.
B2B sales have entered the world of data-driven marketing campaigns. Having a stockroom of data isn’t enough anymore; companies have to actively use the data in meaningful ways in order to stay on top. We will sign off by asking a question: What are the most effective ways B2B lead generation marketers will be using big data in 2015?