4 Reasons Your Business Needs Predictive in 2016
Two major trends are driving a transformational shift in B2B marketing. Access to customer data and the ability to mine it for insights has made data-driven marketing possible. Simultaneously, competition among B2B enterprises has placed a premium on marketing results, measurement and accountability.
The current reality of B2B marketing does not align with these expectations. While any observer of modern business can tell you that marketers are on the hook for revenue, it’s also clear that marketers do not always have the full support of their business leaders. How can marketers evolve and succeed in this new business landscape? Much like other business functions that have reached maturity in the modern enterprise, marketing must become a data-driven endeavor.
Predictive intelligence is the tool that is powering this change in 4 key ways:
Empowers B2B companies to identify decision-makers.
Today, marketing teams only know with precision that a target prospect is planning to make a purchase when they fill out a demo request form. As a result, marketers waste time and money on untargeted tactics in the hope that broad marketing blasts will spark enough engagement to stimulate demand and help nurture prospects through the sales funnel.
Predictive intelligence uses sophisticated modeling to accurately identify accounts and prospects as they’re entering the buying journey, allowing marketing teams to reach the right decision-makers with relevant messaging and calls-to-action.
Improves scoring models and sends better prospects to sales.
As marketing teams adjust their priorities from marketing qualified leads (MQLs) to sales accepted or sales qualified leads (SQLs), predictive models will help tackle the challenge of improving conversion rates and accelerating sales cycles.
Predictive intelligence accurately determines the buying stage of accounts and prospects by monitoring buying signals gathered by your marketing technology stack and third-party data sources. This data arms marketing teams with the necessary insights to implement data-centric scoring models to surface and prioritize accounts and prospects for sales that are truly in market.
Allows companies to enter conversations first.
Predictive intelligence provides visibility into prospects’ research patterns, allowing marketing and sales teams to discover accounts the moment they enter the buying process and better understand the business challenges they’re trying to solve. Being the first vendor to connect with a prospect puts your company in a position of strength. You earn the opportunity to educate the buyer, shape their thinking and help define the scope of the project.
Knowing what challenges your prospects are trying to solve helps capture their interest and develop a trusted advisor relationship. It will also avoid the costly situation where your company enters the sales cycle late and has to fight against pre-existing assumptions and approaches defined by your competitors.
Helps companies break into new markets.
Entering a new market or establishing a product category requires a significant level of market research. Predictive helps identify accounts researching products and engaging with content relevant to your company’s offering, allowing your team to build targeted account lists and develop a go-to-market strategy.
Having visibility into how your target prospects are thinking of the business challenges your solution and services address, allows a marketing team to develop and test messaging and positioning in the new market. Data-driven insights will enable you to engage new buyers and have the greatest impact on purchasing decisions.
Reframe Your Company’s Thinking
In the end, it’s important to understand how data can drive results. The best predictive intelligence tools help you:
- Identify prospects early in the buying process, before the competition gets to them;
- Determine the buying stage of all the accounts you could sell to — both existing and net-new;
- Shed light on the most important contacts at those accounts — the true decision makers in the buying committee;
- Decide which prospects to pursue, when to pursue them, and how to get the best engagement to establish a relationship.
As a result, revenues goes up. Win rates go up. Customer satisfaction go up. Your business is booming.
Predictive intelligence is designed to predict your prospects future behavior and decisions. As we all know, what’s true today is not necessarily going to be true six months from now. Prospects’ priorities change. Their business challenges shift. The right predictive vendor will give you complete visibility into your dynamic buyer universe even as the landscape continuously evolves.
Looking to learn more about predictive intelligence? Download our report “The Business Case for Predictive: 4 Talking Points.”