Ready for predictive marketing? In a new webinar, Megan Heuer of SiriusDecisions explains how to assess whether your organization is prepared for the new, cutting-edge, data-driven marketing.
Predictive marketing opens new frontiers for marketers ready to explore data-driven avenues in revolutionizing revenue generation. But where do you start? Is your organization a good fit for predictive marketing? Do you have the right skills? Will your organization enjoy high returns on this investment?
In a new webinar, Megan Heuer, VP & Group Director of Data-Driven Marketing at SiriusDecisions, answers all of these questions and more. In the webinar, Megan discusses taking advantage of predictive marketing and applying data-driven tactics to the campaigns you’re launching. Heuer also give tips on how to cherry-pick the right partner to work with on launching a predictive marketing strategy.
Megan, a sales and marketing thought leader with more than 20 years of industry and professional services experiences, leads SiriusDecisions’ Account-Based Marketing and Marketing Operations services. Megan’s aids clients in bridging the divide between best-practice theory and real-world requirements. Prior to SiriusDecisions, Megan was a consultant with Satmetrix Systems, the leader in customer-loyalty solutions and a co-developer of Net Promoter, the gold standard metric for linking loyalty and revenue growth.
“Being a data-driven marketer is about growth,” Megan explains. “It’s about creating ways to engage with your customers and make them want to buy from you, and in that way delivering growth.” She believes, when you ask yourself how you can foster faster growth, “It really breaks data-driven marketing down into a series of better decisions that you can make.”
According to Megan, “We’re really talking about being customer-driven and customer-focused, but doing it at scale. You can go ahead and take advantage of the power to reach customers. So when you think about that, you’re really talking about the data helping you reach your customers in a better way.”
Megan offers pointers on where predictive marketing can help, depending on where in the Demand Waterfall you find your challenge. For example, in the top of the funnel, “If you’re having trouble engaging with your customer, wouldn’t a bit more market intelligence or a higher degree of personalization change the game? If you’re having trouble making sure that you’re sending the right leads to sales that they’re willing to accept and progress, perhaps some of the data you have working for you around lead scoring or lead grabbing is not doing all it can and you need to go back and take another look at that.”
Predictive marketing can also facilitate outbound marketing. “If your outbound marketing isn’t getting a response rate that you’d like or isn’t reaching the right people, again, data can help you with this.“
According to Megan, improving an existing process is a great way to get started. “Now these are all things that most companies do in some way today,” Megan explains. “What you want to make sure of is that you’re doing them as well as you possibly can, and that you’re taking advantage of all the available data that’s out there to help you do it.” A simple bit of guidance that Megan imparts is to start small. “Take one use case and then work your way up,” she says.
Megan quotes a recent study from SiriusDecisions that surveyed 1,000 senior level B2B buyers about their buying process. The research found that 71% of the decisions of a vendor as a B2B buyer are based on either direct or indirect customer experience, while just 18% of buyers said that they made their decision based on the offering’s ability to meet their needs, and just 9% on the price. “Experience wins every time,” Megan says.
Heuer lists three things to keep on your checklist for choosing a predictive marketing vendor. “The first is around the fit of the solution and whether the solution is going to help us meet our goals. The second is the technology itself and how it fits into what you may already have.”
The third checklist item she imparts is talking to other customers of the prospective vendor. Reach out to customers who had similar challenges to help you better appreciate what it’s like. “You will be in a position to not just base it on private emotional response to an experience, but on a good balanced response to whether this partner is going to really help you meet your data-driven goals,” she counsels.