Successful B2B Marketing Teams Focus on THESE Data to Drive Revenue
Leads-driven marketing misses half the picture.
The traditional enterprise marketing environment is much too focused on leads and the volume of leads, which points to a significant misconception about the modern buying process. Contrary to common perception, it is not straightforward but rather labyrinth-like. Many people involved pursue different goals and are interested in different things and rarely appear on the same stage at any given moment. Using the number of leads as a measurement tool won’t help because it doesn’t indicate anything about the buying process in this company. If someone is interested in a piece of content or in attending a webinar, it doesn’t mean that this company is ready to buy. “Contact us” leads or people who raised their hands to talk to the sales department are in a different category. However, the people who just shared their contact information in exchange for some content are no different from those who are visiting your website and reading your content without signing up.
If the process was based on a traditional funnel, you would only be able to measure the behavior of the people who shared their contact information, while all other visitors who might pursue the same goal of engaging with your content are ignored. It means only a part of an equally valued marketing audience is considered. Of course, you can put all your content behind the registration wall, but this is a very short-sighted solution to a problem. By doing this you simply shut the door for thousands of people who are not ready to sign up and, as a result, lose significant numbers of potential opportunities. In fact, the number of visitors who engage with your website can be hundreds of times bigger than the total number of leads, and this is a lot of data available immediately. When marketers are only measuring contact details (the leads that are flowing to marketing automation systems) and ignoring all other engagements, they are missing half of the picture.
B2B marketers must identify what their most valuable audience is
The reason many companies still measure digital marketing performance in a number of leads is that they don’t have access to quality data that could show the business potential of their online audience. Average numbers provided by Google Analytics tell just nothing about it. Even if you use IP-based audience identification tools to see from what companies your website visitors are coming from, you still don’t know whether these visitors are trainees or key decision-makers, responsible for 7-figure deals. Not separating these groups means following the wrong numbers, and this problem leads to spending marketing resources inefficiently. Revenue-driven marketing teams need to identify those people in part of the total digital audience who are valuable from the business perspective and use this data as the basis for optimization. How it can be done?
Every modern approach to enterprise marketing should start from outlining the companies and the segments that have the biggest value for the business, either from CRM or by communicating it directly with sales. In Account-Based Marketing, companies often make the mistake of only listing accounts they want to work with and not communicating the process with the sales department. Marketing and sales are two wheels of the same cart. Website content, webinars, emails that salespeople are sending to prospects, calls, and the visits they give – these are all parts of the same process, which must not be separated. If companies only think about marketing as the lead generation channel, they are letting their sales and their business down. In the process organized this way, marketing does not support sales at the most critical stages. Sales know already to whom they want to sell. That’s why B2B marketers should busy themselves first with identifying the accounts that salespeople are focused on, instead of just taking a random list and not communicating it with the sales team. Of course, marketing must be doing greenfield lead generation too, but in most cases, already existing accounts will have more impact on revenue.
Modern ABM software tools provide answers to questions like “What are my valuable prospects doing on the website?”, “For what content are they looking?”, etc. By knowing what part of their digital audience valuable accounts are and getting access to their behavioral data, successful B2B marketers then use these insights as a basis for optimization and future digital campaigns.