Develop your Data Insight to Drive Growth
Accurate and current contact data is paramount for the success of your campaigns. To interact and engage with your prospects you need to understand them, to get to know their personas. The best way to do this? Data gathering, development and profiling to generate data insight.
To get the best from your marketing you need to do your research. Take great care in obtaining the most up to date information on your prospects. Focused telemarketing and detailed examination into individuals, companies, infrastructure, and buying behaviours will provide the level of information and insight you need.
Companies that know how and when to use research gain a big competitive advantage in generating insights that drive growth.
Data insight can powerfully enrich sales and marketing efforts and drive growth. However, it has to be used carefully and correctly. Above all, you should avoid the pitfall of using old or incomplete data. Data is organic and constantly fluctuates; it is only useful if it is current and up to date. Data isn’t static, it’s flexible, it varies, it evolves. Even a small database of c. 20,000 people can vary a lot each month. Often this changeability is overlooked, and data is used that has been festering for several years. Less so in our GDPR era, admittedly, but old data is still out there.
Data affords insight into your customers and prospects. It provides valuable focus on preferences, purchase behaviour, installed technologies, personnel and demographics and using such insight allows marketers to develop focused campaigns.
Developing a better understanding of customers and prospects is increasingly a strategic necessity. Fast-moving markets, new technologies, and new business models are changing what customers expect and how they interact.
Develop your data to make it work for you.
The amount of data gathered, stored and processed today allows marketers to dive deeper and segment more effectively. Using the insight available to you means you can be far more granular and targeted in your objective to unlock opportunities. Companies which invest in database development, profiling and research often achieve better sales growth and higher return on sales.
Generating data insight is a vital, iterative process. The market you operate in is dynamic and flexible and your quest for data insight has to be similarly dynamic and flexible in order to drive growth.
Database development and profiling is key to healthy data and a healthy marketing strategy. Testing and learning, trying new research methodologies, and discarding obsolete techniques is key. Re-engineering how you generate insights is crucial to finding new growth. You might be equipped to undertake this yourself, if not, choose your data partner carefully to ensure they are providing the right level of data research, data insight and data enrichment.
A good data partner will be doing the right research, profiling, development and data enrichment, meaning that any data you buy will enable you to make smarter marketing decisions, whether that be in eMarketing, direct mail, telemarketing or social. Data scientists conducting a finely tuned profiling process will deliver unsurpassed data accuracy, enabling you to target your message to a very specific level, be that by individual, role, position, installed technology or interest.
It is this fine tuning that gives you superb data insight and the best chance of excellent ROI.