Most marketers understand that data is key to their marketing success, but how much time do they actually spend on their data? What level of investment do they make to achieve the best results? To find out, let’s take a look at the results of a recent survey of B2B marketers (B2B Lead Gen Survey) conducted by Chief Marketer B2B Research.
When thinking about data, we think about the cleanliness of the data (data hygiene), whether the data is standardized, and the level of detail about customer or prospect behavior it contains. With nearly two-thirds (63%) of marketers now testing personalized messaging and content, according to the survey, these are key foundational components and it’s important to get them right.
Chief Marketer found that the vast plurality of respondents (46%) cleanse their data quarterly or annually. But 20% are cleansing it weekly or even daily. Customer behavior, preferences, and patterns can change quickly. Smart marketers stay on top of those changes to their advantage. Thirteen percent of marketers never cleanse their data, however. This presents a significant roadblock to success with personalization and, consequently, an opportunity for marketers to improve their results by taking some basic steps.
Before content can be personalized, data needs to be standardized. This way, it can be analyzed, sorted, and cleansed. However, despite the nearly two-thirds of marketers currently using or testing personalized communications, nearly half (46%) of marketers are standardizing their data only annually or not standardizing it at all. If personalization is going to be effective, this needs to change. So once again, we see an opportunity to boost results by implementing some very simple measures.
For those marketers currently producing or experimenting with personalized direct mail and email, data overlays can be an important piece of the puzzle. Your internal data may be great, but there are always other insights that can enhance your efforts and facilitate even more accurate targeting. According to Chief Marketer, 15% of marketers are doing data overlays daily or weekly, 15% are doing it monthly, and 30% are doing it quarterly or annually. Only 40% of marketers are not doing data overlays at all. If you are part of this 40%, what are you waiting for?
What data are marketers adding? According to The B2B Lead Gen Survey, here are the top overlays they are investing in:
Contact information 64%
Purchase history 34%
Competitive enhancements 17%
Data hygiene, standardization, and overlays are critical not just to personalized marketing, but to any marketing strategy. If you have the internal expertise to do this yourself, make it a habit. Determine the frequency with which these practices make the most sense for your marketing efforts, then commit to a schedule and stick to it!
If you don’t have the expertise to do this in-house, reach out to one of our data experts. That’s why we’re here.