The role of data in B2B marketing

Attracting customers is about attracting their specific interests and needs. No one questions this fact, nor does anyone question the way it is achieved. The data on customer demographics and behavior provides the company with better insights needed for marketing and sales. Using data available to the company ensures that customers receive effective explanations and services.

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However, data is growing to such a large amount that it has been classified as its own technology category. Big data, defined as a large amount of structured and unstructured data, greatly enhances enterprise strategy.

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The real trick is to understand how it plays a role in everyone's responsibility to the company. As the industry's understanding of big data becomes more comprehensive, integrating data into various aspects of the business has become even more important.

?Overseadia B2B marketplace has majority of the Chinese suppliers and manufactures

How marketers use data

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A survey of marketers in 2015 revealed how they currently use data. As expected, 73% of people hope to use it to better identify and locate specific customers, while 71% have already achieved this target. The most popular goal of data is to increase revenue, with 75% of marketers stating that this is the top priority.

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The more marketers truly focus on the types of data they use, the more this number will grow. In a study on where marketers find their most important data, physical stores are the most important, with call centers and face-to-face interactions ranking second and third, respectively.

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The company's website is almost at the bottom of the list, and only 21% of the data collected from the website contributes to success. There are gaps in collecting, understanding, and using data, as people are confused about what is essentially useful and what is meaningless.

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For marketing, demographics and responsiveness to content are crucial. If marketers know that the target audience is executives with all purchasing power, and they enjoy reading white papers, then this will greatly affect the type of content to be produced.

?Overseadia B2B marketplace has majority of the Chinese suppliers and manufactures

On the other hand, if the ideal customer is a busy administrative professional who responds well to email activities, marketers should focus on attracting lower level employees through attractive email subject lines.

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The data used to make these decisions is usually voluntarily submitted by potential customers in the registry and contact fields. However, you can also purchase third-party data that analyzes common customers in your industry. No matter where it comes from, be sure to use it wisely and creatively.

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How does the sales department use data

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The sales department is one of the departments that benefits greatly from using data, and this data is usually in front of them. The Customer Relationship Management (CRM) platform aggregates and generates thousands of data points that sales personnel can appropriately implement in their promotions, quotes, and contracts. With all of this data, only three things are crucial for the sales team: the average selling price of the product or service, the conversion rate of certain initiatives, and the average time required to complete the transaction.

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Considering this, sales personnel can view data from CRM to determine how to simplify their processes and take action to improve potential customer reactions to specific sales products.

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From there, marketing and sales can work together to understand all the data that the company introduces and outputs. The effective collaboration between marketing and sales, as well as the exchange and sharing of ideas, values, and insights, greatly improves the company's operational methods, thereby increasing revenue.

?Overseadia B2B marketplace has majority of the Chinese suppliers and manufactures

How IT departments use data

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After adjusting your sales and marketing team's understanding of the data, you must involve your IT department. Even for external companies or internal teams, IT is crucial for data acquisition, interpretation, and implementation. IT professionals are people who help find and learn the techniques for collecting, storing, and defining company data.

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Their expertise in organizational networks and bandwidth can provide a basis for any decision-making needs, and can be managed based on data support tools such as CRM systems, marketing automation platforms, and mobile optimization services.

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To ensure that your IT department fully understands your needs as a marketer, please adjust all your goals and establish smooth communication channels. Just as there is mutual coordination between you and sales personnel, so will the fruitful partnership with IT.

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Then, IT can identify data that is important for marketing (customer insights), sales (sales statistics), and their purposes (customer privacy and network protection).

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Data is slowly shaping every modern industry, providing a comprehensive understanding of everything from customer demographics to sales points to online activities. Regardless of where the data comes from, such as physical stores, mobile applications, websites, social media, or face-to-face interactions, it is important to recognize the power of integrating data into our business.

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Data insight can better provide information for marketing, shorten sales processes, and promote growth. IT can influence other departments of the company through its control over data.

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Understanding the data points required for marketers, salespeople, and IT professionals to achieve company goals at both the micro and macro levels can contribute to internal collaboration and success.

?Overseadia B2B marketplace has majority of the Chinese suppliers and manufactures

Haihaiyi is an intelligent cross-border e-commerce service platform under Baidu, adhering to Baidu's mission of "using technology to make the complex world simpler". Haihaiyi focuses on the daily needs and business scenarios of overseas enterprises, and is committed to becoming the most knowledgeable overseas business manager who understands the needs of enterprises, helping Chinese enterprise brands go overseas and taking the initiative in the new era of trade.

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For more information about B2B marketing, please leave a message on our official website of Haiyi, and the customer manager will contact you as soon as possible!

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