Undoubtedly, data is a fantastic marketing resource. You can create a repeatable and scalable marketing campaign with the correct information. In the dynamic tech space, you need data-driven marketing strategies to keep up with the changes of your buyers, acquire new customers, and boost your company’s revenue.
In this article, we’ll talk about data-led growth strategies for high-tech and software companies.
What is Data-Driven Marketing?
Data-driven marketing means you leverage information you have, data from third parties, and customer interactions to gain insights about your audience. Ideally, you can use the data to evolve your message, approach, tactics, and topics to align with what you see your buyers and your market react with best.
In this approach, you continually tweak your marketing campaigns to align with customer needs and test variations based on what the data tells you. Here are four data-led growth strategies you can utilize for your company.
1. Use the Right Data for Marketing Campaigns
Creating a revenue-generating marketing campaign entails leveraging the right data. For instance, if you want to launch a new tech product, you will need data on customer spending habits and behavior. In this case, you can analyze the following information:
- Pain points + reasons to buy
- Title + role in the business
- Decision timelines
When you create buyer personas, you can work towards creating content that attracts and lures your audience. Conversely, you get to understand your audience better. That way, you can formulate a marketing plan specific to your persona, their needs, and your wants.
Don't have this level of data in your business yet? Poll your teams, partners, and customers, and use general information to benchmark your tech company in the market while you're building your actual data points. Quantitative data, such as website clicks, form completions, and click-through rates, allows you to make more informed decisions.
2. Monitor Your Website Interactions
Your data-led marketing efforts should increase efficiency. That said, it’s vital to evaluate your website interactions effectively. Usually, your tech or software website allows visitors to submit their contact details, comments, or questions. These interactions provide meaningful insights into your customers. The following features can help you assess your website’s interactions and your digital footprint:
Content performance: You can reach your target audience through blogs, social media posts, webinars, and newsletters. You run several tactics simultaneously on a similar topic or keyword and watch the campaign data. What is the most popular? Double down on what is working and find the gaps in your customer journey.
- User experience: Review the amount of time users spend on a page, bounce rate, and in-page clicks. With this data, you can optimize your website to retain visitors.
Engagement: Are your visitors engaging with the content? Are they reading the blog, leaving, or clicking on your call to action? If they are clicking and not filling out the form or scheduling the meeting, you need a bridge between the conversation they just read and the commitment to share their information with you.
3. Personalize Email Campaigns
Thanks to user data, you can see which emails were answered, opened, or ignored. Essentially, the secret is to personalize emails. When you can craft messages based on data, intent to buy, or expressed interest, you can skip right over the top of the funnel messages and jump into why your tech company is the right choice. You can customize emails using the following method:
- Address customers by their first names using personalization tokens.
- Segment your lists for content about topics that your community has already expressed interest in
- Use Smart Content to change our words and phrases based on the data and insights you have in your CRM.
Many customers prefer shopping with businesses that offer personalized experiences, so put your data to good use and start testing new campaigns on those topics that are highly engaged.
4. Retarget Your Advertising
Another data-driven marketing approach to use is retargeting your advertising. This method is effective when using multiple channels to market your brand. For instance, retargeting makes sense if you utilize social media and emails for marketing.
You can retarget advertising to users with a deep interest in your software or other tech tools. In this case, leads or customers are potential people to retarget. Retargeting is helpful when someone visits your website, adds your software to a cart, leaves or visits a bottom-of-the-funnel offer, clicks but doesn't finish the data exchange, or schedules the meeting.
You can turn this person into a customer by sending them a recap email or targeting them on other online platforms like Google, LinkedIn, and Facebook. Retargeting comes with the following benefits:
- Generates awareness + you remain top of mind
- Drives conversions
- Completes the buyer’s journey
- Enhances customer lifetime value (CLTV)
Data-Driven Decisions Required a Data-Focused Platform
Ultimately, data-driven marketing requires the strategies above to boost your tech company. We'd be remiss if we didn't link data to your CRM or marketing and sales tools. Having data is one thing. Having it in a place where everyone can access, use, and measure against is quite another. With the right tactics, you can make sound marketing decisions. To make the right decisions, you need to build the foundation for the data to live, grow, and work for you. If you're starting your data-driven journey, start with a platform discussion and look at HubSpot email marketing as an example. Ensure that you have the tools and processes to be successful and test your efforts effectively.
Data driving your decisions? Congratulations, now rinse and repeated... or as a marketer would say, "nurture and automate."