B2B marketers should use the power of Big Data, to derive the best insights from market research, but also use logic, and intuitions for the better sales cycles and optimal business outcomes.
Big Data is rapidly evolving as an aid to B2B marketing. IT leads to bigger brands are continually improving and increasing their data collation, structuring, and analyzing capabilities. However, the reality is that most of the data available is unstructured, unorganized, and unstructured, and needs much better analytics and mining processes to be made usable as business insights.
Undoubtedly, data utilization is crucial for B2B marketers’ success, but that should not be the only thing to rely on. Alongside data, marketers need to focus on industry trends, insights, logic, and intuition while making their market strategies.
Unlike B2C, B2B marketers don’t have access to multiple touch-points and different methodologies while designing their offerings. They are constrained by less data for creating their decision models and sales strategy, as well as limited visibility to the purchasing decisions. Simply put, B2B marketers hardly know their customers- base, time, geography, etc. as they entirely function with another company. At times, certain things go missing in the process since several other factors and people are involved at the end-sale.
Hence, restricted visibility would require varied organizational information, popular tactics, on-going trends, and not just data! In addition, B2B marketers will need to integrate logic and general intuition for prolonged B2B sales cycles. Before making a plan, they need to focus more on market research to perceive what all factors motivate the stakeholders.
B2B enterprises know their industry well and how it actually runs. These insights can also grant them the ability to identify better sources of higher quality data. Big data is absolutely an essential source of information as an aid to designing sharper marketing strategies. But, marketers need to be aware that Big data or analytics is not a magic wand unless accompanies by intuitive insights and logic; the information it can provide can be skewed, misleading, or worse.
Clearly, big data should be a critical part of the marketing processes, but should not be the only ‘tool’ from marketers’ ‘toolkit’.