Most marketers grapple with data in all its forms every day.
It’s flooding in from multiple sources in every organisation and it’s not getting easier to work with – in spite of the rise of marketing automation, salesforce automation, customer relationship management and financial management software. AI and machine learning will add to the noise, generating more data and insights which need to be assessed and used or discarded depending on the context.
If anything, the reliance on these platforms has made data a master rather than a slave – and not a particularly benevolent one.
The ability to damage brand, disenfranchise customers and lose prospects can be performed at a scale and velocity previously unimagined. The wrong email to a customer database can be delivered in seconds.
Not that long ago, in many industries, marketers didn’t need to know more than the basics when it came to data collection, management and use. Arguably, FMCG has always been the exception where deep diving data streams from retail outlets was critical for carving out categories, driving sales, maintaining profit and informing product development.
Today, as a marketer if you really can’t pull datasets apart and apply at least rudimentary analysis and management tools, it can be difficult to make a lasting difference in an organisation.
Yet, in our experience, many marketers do struggle with data. Keeping it clean and useable, the basic hygiene factors needed to make it useful, can seem unsurmountable when it simply floods into databases unchecked.
So what’s the answer?
Our short paper, Are you in data denial?, offers some practical pointers to get you heading in the right direction or at least baseline your own organisation’s approach to data control and management, particularly in relation to the marketing function.
Thanks to business social networking channels like LinkedIn, it is easy to identify potential B2B prospects based on criteria such as industry, role, and seniority. Organisations that are not taking full advantage of this tool are missing out on the opportunity to generate more leads, often at a significantly lower cost than traditional outreach methods.
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It can be a constant challenge for vendors to use their marketing development fund (MDF) effectively. Ideally, partners who are eligible for MDF allocations apply for funds of their own volition in a timely manner and use them efficiently and effectively to build pipeline and increase sales for the quarter. The reality is that partners often leave MDF on the table.
When I speak to vendor channel marketing managers a common theme typically comes up. It’s the fact that many resellers don’t apply for their eligible MDF.
Usually the same conversation comes up. “Partner X has accrued marketing funds, or is eligible for marketing support, but we just can’t get them to apply.”
This issue is often accompanied by additional concerns.
If you sell via the channel then you know how difficult it can be to find, build, manage, motivate and maintain your reseller base.
That’s why Outsource has partnered with channel consulting and training firm, Channel Dynamics, to deliver a lunch-time seminar program aimed directly at channel marketers and managers.
In this 1.5 hour presentation guest speaker, Moheb Moses one of Australia’s leading IT channel consultants and trainers, will explain the critical elements of creating and managing a high performance channel in today’s competitive and fragmented ICT market.
One of the things fast moving consumer goods (FMCG) and consumer packaged goods (CPG) companies can teach B2B marketers to do better is research.
When your business focuses on creating and then moving millions of units into market, the stakes are high if you get it wrong. Not only can your brand take a very visible hit, your bottom line can take a beating too. A warehouse full of products no-one wants is a financial disaster by any measure.
What other marketing activities do you know of that gives you an opportunity to bring prospects into your world for an hour or two (or longer) and be completely engaged with you at the exclusion of all else?
They do sound more compelling when you say it like that, and of course many companies do try to run events as part of their marketing program, but often with mixed results.
It’s not a big surprise that you’re supposed to have a website these days. In fact, there’s probably not a business in Australia that doesn’t have some kind of web page.
However, having an ordinary site (and no-one is saying ours is a work of art) can really kill a sale when you sell high involvement products and services.