Are your marketing programs attracting the right kinds of prospects? Only your data can tell you. While it’s tempting to stop at reviewing email response rate, opt-out percentages or unique visitor growth on the website, understanding and optimizing B2B marketing tactic effectiveness requires a little more digging.
Are your marketing programs attracting the right kinds of prospects? Only your data can tell you. While it’s tempting to stop at reviewing email response rate, opt-out percentages or unique visitor growth on the website, understanding and optimizing B2B marketing tactic effectiveness requires a little more digging. You need to look into the details behind those numbers and how tactics impact the overall health of the contact database. Here are some guidelines for using the contact database to shed light on what works and what doesn’t.
Define Who You Need to Attract. It’s hard to know if a tactic is encouraging interactions with the right contacts if a clear goal has not been set as to who the desired audience is. Who exactly is your desired audience for the tactic and what goal are you supporting with them? Once this is defined, if you are pursuing an outbound tactic, take a look in your database to see how many of these individuals you already know. If the universe in there is smaller than you know it to be, consider targeted contact acquisition. If the tactic is inbound (meaning not sent out to specific names but positioned where the right kinds of contacts go to encourage them to respond and identify themselves), then define the baseline of contacts that meet your criteria so you know when additions are made. The initial goal is to estimate a rough size for the segment you want to reach and what percentage of it you already know so it’s clear when gains or losses happen in the database.
Build a Segment Data Snapshot. For your target segments, track overall contact gains and losses monthly to see what the net impact of marketing programs is on building the contact database. As part of your normal database reporting, compare the number of names and the percent of total database added each month (de-duped from existing contacts) to the number of contacts lost or no longer usable. This not only shows whether the database is growing or shrinking, but at how rapid a pace movement is taking place. The calculation also can be used to determine incremental return on investment for specific addition efforts; for example, a demand creation program might contribute 100 leads, but if it also added 500 new names to the database and helped with the completion of 250 more records as well, there is incremental value that should be identified and reported.
Put together, these elements provide a warning system for changes that could hurt down the road. They’re also a way to identify highly successful approaches that should be shared and emulated to boost others’ contact acquisition results.