Wise marketers have discovered that cleaning b-to-b data, especially physical locations and/or email addresses is well worth it because you can save money. You can make better decisions using clean data, and you can make a better impression with customers when they see you take good care of their data. You can even personalize offers, making them more relevant and increasing sales.
An easy way to answer the second question is to look at one of the major choices of social media for b-to-b marketers, LinkedIn. It has been reported that LinkedIn, while clearly not the size of other, larger social media channels, is growing at a faster rate and produces high quality visit-to-lead conversion rates.
Because of the high cost today of generating business-to-business leads and customers today, retention is critical. Even though it is critical, you know you cannot spend more than you can recover in ROI. How do you boost retention and achieve a good ROI?
Profile your new customers, lapsed customers and repeat customers to determine which ones are more likely to buy again and which ones are not. You can use transactional data, like how recently they bought, how frequently they bought, which products they bought, and how much they spent. You should also use the products they bought and the channel through which they bought them. Patterns should emerge.
While the potential exists to improve, many tests actually cost money because they do not even replace the sales of the traditional method you are using, leave alone improving them. So the question is: how can you minimize the risk and maximize the success of your testing efforts, especially in business-to-business marketing? Here are five tips to get you started.
For a long time, b-to-b marketers were leery of the success consumer marketers were having with personalized offers. Were business customers really going to be more likely to buy an expensive and technical product when addressed by their individual names? As usual, the answer turns out to be: It depends. Here’s why you have to test.