Data-driven marketing is on the rise. And no wonder: marketers would be six times as likely to report higher profits if they use data-driven strategies, a recent report by Turn and Forbes Insight discovered.
That's not surprising to those already harnessing the power of data, but the proliferation and availability of Big Data has not yet been translated into revenue for all marketers.
Why? Many organizations still struggle to make sense of their data because of the massive volume and high velocity at which data is produced. Furthermore, because data is dispersed across so many disparate platforms (e.g., CRM, marketing automation, analytics), it's become increasingly difficult to merge and analyze data in meaningful ways.
In recent years, however, innovation has made it easier to bridge the gaps among siloed data sources, providing a unified view of data across platforms. Analysis of historical data is being used not only to spot inefficiencies (and efficiencies) in past marketing campaigns but also, in many cases, to identify patterns that can predict future outcomes.
Paired with the right technology for analysis and interpretation, Big Data has ushered in a new era of data-driven sales and marketing: The Age of the Predictive Enterprise.
Data has empowered marketers to serve prospects with superior customer experiences across industries. For instance, 55% of data-driven retail executives already claim to have enjoyed a competitive advantage in both customer loyalty and acquisition, but nowhere is this data trend more important than in B2B.
This article explains the key role that data plays in B2B marketing, and it outlines three ways that marketers can reap the rewards of being more data-driven.
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