Today on the Demand Gen Pod, Episode 12, In this episode of the demand gen pod, Ryan discusses the applications of
intent data in marketing and sales efforts. He covers topics such as
harnessing customer data, personalization and segmentation, customer journey
mapping, predictive analytics and lead scoring, automation and personalized
campaigns, data privacy and ethics, and measuring success. Ryan emphasizes the
importance of building meaningful connections with prospects at every stage of
the funnel and continuously improving campaigns based on data-driven insights.
Summary notes from Episode 12:
Intent data is powerful for driving marketing and sales efforts. Before using
intent data, it is important to gather customer data through surveys, website
analytics, CRM systems, and social media monitoring. Customer data can be used
to personalize marketing campaigns and target specific groups based on
demographics, purchase history, and behavioral data. Customer journey mapping
helps understand and optimize the customer experience by analyzing touch
points and interactions across various channels. Predictive analytics and lead
scoring can identify high-value prospects and prioritize efforts. Marketing
automation uses data to deliver personalized campaigns at scale, including
personalized email drip campaigns and dynamic website content. Data privacy
and ethics should be considered, including compliance with relevant
regulations like GDPR or CCPA. Key metrics to measure the success of data-
driven marketing initiatives include conversion rates, customer engagement,
and ROI. Continuous iteration and improvement of data-driven marketing
strategies are essential to adapt to changing customer preferences and market
dynamics.
Full Transcript:
00:01
Welcome back to the demand gen pod. My name is Ryan and I didn’t say it last week, but happy new year. Today we’re diving into the powerful realm of intent data to explore how businesses can leverage it to drive their marketing sales efforts. Now, last week we talked about all the things that you need to be doing before you can go and use it. So now let’s talk about actually using it. So we’re going to discuss various applications of intent data in personalizing marketing campaigns and targeting value prospects and enhancing the sales process. And we’ll also talk about the intersection of intent data and account based marketing as well. Some of you know it as ABM and address some privacy and compliance considerations and identify some key metrics to measure. Specifically, I’m breaking it out into a handful of parts. Seven I think.
00:42
In total we’ve got harnessing customer data, personalization and segmentation, customer journey mapping, predictive analytics and lead scoring, automation and personalized campaigns, data privacy and ethics, and measuring success and iterating. So that’s a mouthful. Lots to talk about. Let’s get started harnessing customer data. We’re starting right there. Customer data like demographics, purchase history, behavioral data, these are all really valuable for making meaningful connections with prospects. And you can leverage customer data collected through surveys, website analytics, CRM systems and social media monitoring. You can even measure that based on their engagement with the emails that you’re sending them. And then obviously what they’re looking at on your website. And you can analyze that and identify trends and patterns making data driven decisions for marketing campaigns within personalization and segmentation.
01:38
You can use all of that data in your marketing efforts to deliver customized content and offers based on individual preferences that they’ve defined through their own actions. And you can segment prospects based on things like age, location and interest, and target those specific groups with your messaging. This allows you to create those meaningful connections and address prospects specific needs and interests. And not only that, but you can do so at the exact time when they’re showing that interest. So when they’re looking at certain pages on your website, they’re indicating that they are at a certain stage of the sales journey. You can target them with specific content at that certain stage at that certain time for that individual person. So customer data can be used to map and understand prospects, customer journeys.
02:23
And you can analyze touch points and interactions across those various channels, whether it be social and load that back into a CRM and get it into your marketing tool, or whether it be engagement on the website or throughout emails or downloads. But insights gained from those customer journey tools and they can help you identify some pain points, optimize the customer experience and then create those tailored experiences. And customer journey mapping ensures that prospects receive relevant and timely information for each stage of their journey, strengthening their connections. So what about some analytics and other tools that you can use like lead scoring? Predictive analytics leverages data to identify high value prospects by analyzing past behaviors and characteristics. Once we kind of have a good understanding about what somebody does before they say, move from being a lead to contact.
03:17
If we’re talking about like in Salesforce terminology, once we can identify a general process that people take, we can start to predict when somebody is going to take those steps and we can target them earlier on to lead them down that path more quickly and more efficiently. And that’s really powerful, right? Lead scoring assigns numerical value to prospects based on their likelihood to convert, allowing businesses to prioritize their efforts. So data driven lead scoring is kind of the combination of that where it increases that effectiveness and efficiency of sales and marketing by focusing resources on prospects with the highest potential. Now you can translate all of that information and we fly over here, we’re going quick, but you can translate all of that information to personalized campaigns.
04:08
And before we talk about that, I want to make sure that I have an opportunity to remind you to please join us and subscribe wherever it is that you listen to us. So marketing automation uses data to deliver personalized marketing campaigns at scale. And data plays a crucial role in creating and nurturing personalized customer journeys by providing insights into prospect preferences and behaviors. So examples of successful marketing campaigns include like personalized email drip campaigns on dynamic website content based on previous interactions. Lots of different marketing tools allow you to do both of those.
04:43
But for example, you could make it as literal, I suppose, as when somebody clicks on an email, opens it up, it tells them what they’re going to look at, they click on the link and it might say, this offer especially for you, Ryan, and the first name is on the website. All of that can be pretty easily created. What about data privacy and ethics? So something that you should consider is whether you should, even though you can technically do something, should you do it? So is there a point when your actions are actually going to freak your customers out or leads out more than it’s going to help push them down the sales funnel? And I think that is business to business, but something that you should definitely be considering, regardless, is compliance with your relevant regulations like GDPR or CCPA.
05:36
Because whatever you show somebody, you have to make sure that they have given you permission to show it even back to them, principally because you don’t necessarily know that they’re the ones looking at it at that certain time or that somebody’s looking over their shoulder. Building trust and transparency with prospects can also be achieved through clear privacy policies and opt in, opt out options and data security measures. So you can also always allow them to have the opportunity to opt out or opt into future points if you really need to, in an effort to make sure that you’re only showing people who have opted in certain messages. But the success of data driven marketing initiatives, they can be measured through a few different key metrics like conversion rates, customer engagement and ROI.
06:21
And monitoring indicators like click through rates and customer feedback helps evaluate the effectiveness of those connections. Continuous iteration and improvement of data driven marketing strategies are essential to adapt changing customer preferences and market dynamics. Now, a couple of points that I want to make about this specifically is that when you’re thinking about KPIs and using something like openrate, I mean, open rate is a really high level statistic. And it can be. Not that it’s not helpful, but when you’re looking at how successful a campaign is, open rate is not really going to tell you how successful a campaign is. It might help you to understand how interesting and engaging a particular email is, but when you’re looking at a campaign level and trying to understand how well you’ve done at a campaign level, you need to look farther down the funnel.
07:19
So all of these sort of pretty metrics like open rating, click through rate, while they’re important, what you really want to be doing is understanding your ROI through looking at people who convert further down the funnel. What are they engaging in and sort of mapping that revenue, or at least the conversion back to those campaigns. So that when you in the future, say the following quarter, you go and review your campaigns, you can go back and you can say, okay, well, I can see that we had x number of people actually convert at these various stages of the funnel who were involved in this campaign. These things are really important to review because if you don’t, you’re kind of just throwing shit at the wall to see what sticks and not really going back to actually figure out what made the difference.
08:05
And when you have the time and the ability to go back and say, I see where people are converting, I see what point they’re converting at, you can take away from that particular email or that particular content, the particular messaging, even if it goes as high as the subject line or who you were sending it to and you can use that to build more intelligent campaigns in the future. So with that, we’re almost at ten minutes. Let’s go back and just recap. Leveraging data so crucial for making meaningful connections with prospects and driving conversions. Okay, key strategies discussed we talked about today harnessing customer data, personalization and segmentation, customer journey mapping, predictive analytics, automation and data privacy.
08:52
Now, I really encourage you to think about how you can be building stronger connections with your prospects at every stage of the funnel and look to improve and strengthen all of your campaigns. Until next week, my name is Ryan, this is demand Gen Pod. Subscribe to us wherever you are. Thank you so much for your time and we will see you next time.