According to a new study published by Dun & Bradstreet, the vast majority of B2B marketers believe data and analytics play a major role in personalising content and driving sales, but around half are still not confident about the quality of data they have at their disposal.
The annual B2B Marketing Data Report shows a growing recognition that data underpins marketing strategies and campaigns, with 89% believing that data quality is a key driver for content marketing and sales. This is a 15% increase from the previous study, and that figure has steadily tracked upward for several years.
Data is now a crucial business asset for several reasons, according to B2B marketers. The top activities that data underscores are campaign execution and personalised content. In a world where brands are serving up more materials across social media and corporate websites, data is now viewed as a tool to help them cut through the noise and connect with target audiences effectively.
In addition to optimising content campaigns, data is also being used to generate customer insights via analytics. This also feeds into content strategies and improves decision making throughout the marketing pipeline. Other top activities centred around data include sales prospecting, sales closing, and lead qualification and scoring. Basically, data is now an essential part of marketing, from the first stage to the last.
While data has become more important during the last 12 months, B2B enterprises are more hesitant about the quality of data they have. This lack of confidence is making it more difficult to manage content marketing initiatives at a time when these efforts have never been so crucial to driving awareness, engagement and sales.
“B2B companies are currently at a crossroads,” Dun & Bradstreet Global Head of Marketing, Josh Mueller, noted. “They overwhelmingly understand the value of data to their organizations, but have not yet figured out how to collect, integrate and apply that data in insightful ways to help make business decisions. Organizations that have established a solid data foundation as core to their sales and marketing programs can improve performance over their counterparts that don’t have that data foundation.”
One other issue that is holding B2B marketers back is a lack of data integration with the wider business. A sizeable 90% of the 250 marketers surveyed said they find it challenging to line up marketing data with sales and other activities when attempting to execute campaigns across a plethora of channels. Just a third said they can make sense of a buyer’s journey. These blind spots subsequently make it more difficult to serve up the right content at the right time. Integrating data with CRM is another common problem.
“By using data to connect sales and marketing activities, businesses can better identify new opportunities, focus on the right audience with the right message, arm sellers with the right intelligence, and provide learnings that enable them to continually improve their strategy,” Mueller added. “When done right, this is the winning formula for more personalized, efficient, and impactful marketing at scale.”