B2B Data-Driven Marketing Strategy

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Amos Rice
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1 B2B Data-Driven Marketing Strategy How B2B Marketers Formulate a Strategy That Works. Research Conducted in Partnership with Ascend2

Table of Contents 3. 4. Important Strategic Objectives 5. Success Achieving Objectives 6. Critical Challenges to Success 7. Strategy is Crucial 8.

2 Table of Contents Important Strategic Objectives 5. Success Achieving Objectives 6. Critical Challenges to Success 7. Strategy is Crucial 8. Comparing Objectives and Challenges 9. Complexity of Implementation 10. Implementation Resources Used 11. Most Effective Data Collection Channels 12. How Channel Effectiveness is Changing 13. About the Research Partners 2

3 Methodology Ascend2 benchmarks the performance of popular digital marketing practices using a standardized online questionnaire and proprietary 3-Minute Survey format, then experienced analysts report on the findings objectively. This survey was fielded to a panel of research subscribers and marketing influencers, and this report represents the following: Employees in the Company More than % 50 to % Fewer than 50 29% Role in the Company Owner / Partner / CXO 51% VP / Director / Manager 41% Non-Management 8% Without a clear and concise data-driven marketing strategy, B2B marketers lack the ability to effectively acquire, organize, analyze and translate customer information into actionable insights. But what does an effective B2B data-driven marketing strategy look like? To find out, Synthio in partnership with Ascend2, fielded the Data-Driven Marketing Strategy Survey. This report, titled, exclusively represents the opinions of the 114 companies dedicated to the business-to-business marketing and sales channel that completed the survey interview. We thank these busy B2B professionals for sharing their valuable insights with us, and you. This research has been produced for your use. Put it to work in your own marketing strategy. Clip the charts and write about them in your blog or post them on social media. Please share this research credited as published. 3

4 Understanding what needs to be accomplished is the first step in developing an effective data-driven marketing strategy. For nearly half (49%) of B2B data-driven marketers, a top priority is basing more decisions on data analysis. Important Strategic Objectives **Enriching data quality, ensuring completeness, and integrating it across all platforms is an objective for 74% of respondents. ** 4

5 Success Achieving Objectives A total of 93% of B2B marketers say data-driven marketing is successful at achieving important objectives. What are the challenges to success that the remaining 7% are unable to overcome? 5

6 Critical Challenges to Success Most Critical Challenges? Integrating data across platforms and enriching data quality and completeness are the most critical challenges to achieving data-driven marketing success for 51% and 46% of B2B marketers respectively. 6

7 All of the B2B marketers surveyed agree that an effective data-driven marketing strategy is crucial to achieving success, with a resounding 73% strongly agreeing with this statement. Strategy is Crucial **This undisputed support confirms the need for developing a clear and concise strategy to successfully acquire, organize, analyze and translate customer information into actionable insights. ** 7

Comparing Objectives and Challenges The most important objective to more B2B marketers (basing more decisions on data analysis) and the most critical challenge (integrating data

8 Comparing Objectives and Challenges The most important objective to more B2B marketers (basing more decisions on data analysis) and the most critical challenge (integrating data across platforms) are related you can t have one without the other. Comparative insights like these are necessary in the development of an effective data-driven marketing strategy. 8

data-driven marketing strategy as complicated to some

9 Complexity of Implementation The vast majority of B2B marketers (88%) describe the implementation of a data-driven marketing strategy as complicated to some extent, with about half of those (45%) saying it is extremely complicated. 9

Implementation Resources Used Whether the complexity of implementing a data-driven marketing strategy is perception or reality, it is the primary reason for a total of 93% of B2B

10 Implementation Resources Used Whether the complexity of implementing a data-driven marketing strategy is perception or reality, it is the primary reason for a total of 93% of B2B marketers outsourcing all or part of this task, while 39% are outsourcing it entirely to a specialist. Only 7% implement their data-driven marketing strategy using in-house resources only. 10

most effective digital channels used for collecting

11 Most Effective Data Collection Channels A website or ecommerce site, communication and social media are the most effective digital channels used for collecting marketing data according to 52%, 49% and 46% of B2B marketers respectively. 11

How Channel Effectiveness is Changing The

12 How Channel Effectiveness is Changing The effectiveness of the data collection channels used for B2B data-driven marketing is increasing for all but a mere 1% of those surveyed. And for a 54% majority of B2B marketers, the increase in effectiveness is described as significant. 12

13 About the Research Partners You may adapt, copy, distribute and transmit this work. However, you must attribute the work as produced by Synthio and Ascend2 but not in any way that suggests that they endorse you or your use of the work. Synthio is the only data as a service provider that automates the data cleansing process while also providing the richest firmographic and contact data available for appending or origination. From merging non-standard or free-form data into a single usable dataset, to deduplication, standardization, strategic augmentation, or simply understanding more about your own data through a data health analysis, Synthio meets every data need of the modern marketer. Learn more at Synthio.com Marketing technology companies and digital marketing agencies partner with Ascend2 to reliably generate demand and supplement marketing content. Our Research Partner Programs are transparent spotlighting your brand and the interests of your market. Learn more at 13

DATA-DRIVEN MARKETING STRATEGY

DATA-DRIVEN MARKETING STRATEGY Performance Benchmarks for Agencies Research Conducted in Partnership With Ascend2 TABLE OF CONTENTS 3. Data-Driven Marketing Strategy Performance Benchmarks for Agencies