Blog post By Paula Chiocchi on 2016-07-06
Finding new customers, no matter what stage your company is in, is vital. As we enter the second half of 2016, how do you plan to accelerate growth and make your numbers for the year? Data might just be the key to your success.
To get a handle on the communications demands of today, marketers need data. Data holds the key to capturing insight about buyer preferences and spending habits along with the effectiveness of digital marketing efforts and more. And that, in turn, allows you to convert more prospects into customers and close more business deals with the customers you already have.
Whether your marketing messages are going out on just a few channels, or you’ve got a complex multi-channel program in place, one thing is clear: marketing is no longer an art – but a science – and it has become nearly a 24/7 responsibility.
If you and your extended team are good at gathering customer and prospect data, as your campaigns proceed you’ll gain unbeatable insight that will allow you to master the science of marketing. This will enable you to adjust and optimize the way you communicate with your target market – and personalize your approach to winning their trust, and their business.
Expand Your Reach
If your data strategy isn’t quite where it needs to be, or your existing marketing efforts aren’t yielding the results you need, you might consider data acquisition to help you expand your reach and effectiveness. That’s where a reputable business contacts provider comes in.
How does it work? Take email marketing as an example. If you’ve got a “house” list of contacts that continues to generate a return on investment for your business, then you’re in good shape. But most companies can’t – and shouldn’t -- rely on their house list alone. In fact, experts say that the email contacts within your house database atrophy at a rate of 2-3% a month, meaning 25-30% of your email data can go bad in one year.
The reality is, every house list, even those that are scrubbed and updated regularly, can use an infusion of new data for the purpose of driving more sales leads and finding new prospects.
Beyond email, business contacts data can also be used to fuel social media expansion, website traffic, telephone marketing campaigns, direct mail and more. With the data provided, you can zero in more effectively on your precise target markets – across a variety of industries, demographics, executive titles and more.
The goal is to uncover new prospects that you might not have otherwise been able to find, and create a first point of contact that can ultimately lead to a full lifecycle of opportunities for your business.
Go with Today’s New Breed of Email Data Provider
If you haven’t used a data acquisition service before, or if it’s been a while, take note: the list rental model is broken and is no longer your only option. Best practices today call for the ability to license email data for unlimited use for a period of time, such as a year, as opposed to buying a one-time use list. This ensures your data is consistently cleansed and up to date, and will also help you build and grow your in-house list as you engage with contacts over time.
Before you engage with a data provider, check their policies. Also, the cream of the crop in this space will provide an email data validity guarantee (of up to 95%), which is a big plus for marketers.
Make Your Move
Data is fast becoming the engine of the new sales and marketing economy -- the fuel that allows companies to outperform and outsmart their closest competitors, while cultivating stronger relationships with their customers.
With the second half of 2016 already here, think about the data that’s driving your business growth. Whether you’re planning to build it or license it, the important thing is to start using it.
Find your ideal prospects and drive more leads for your business this year. Consider giving Outward Media a try. Also, take a look at our complimentary new e-book on building a successful email marketing database.
At OMI, we believe good things happen when you share your knowledge. That's why we're proud to educate marketers at every level - in every size and type of organization - about the basics of email marketing and the contact data that powers it.