By Michael Foster
Everyone knows that data is the key to better marketing performance, but not everyone knows exactly how that happens.
We hear a lot about data, but the reality is that data collection, management, and application for marketing purposes requires both a solid grounding in best practices and a flexible approach. And when it comes to both generating and managing leads, understanding the value—and limitations—of data is crucial.
Consider the limitations of data. Ultimately, there are two primary issues to consider: How good and predictable can you reasonably expect your data to be, and how much investment and infrastructure do you need to extract that value from your data?
In many cases marketers are faced with a mountain of data, but one hand is tied behind their backs because they have limited resources and a fixed, tight budget. While creativity can sometimes bridge the gap between what you can use to harness data and what you should have to fully exploit it, the reality is that there will always be limits to what you can do based on the tools you have. Before anything, marketers need to address this issue.
Then there is the value of the data itself. This will likely depend on the sales channel and the use case for your particular marketing concern. Are you trying to attribute offline sales to online activity? That is a notorious challenge, and one that remains incredibly difficult. While some strides have been made in bridging the gap between online and offline activity, thanks largely to the ubiquity of mobile, in reality there is still a lot we don’t know—and cannot predict—about offline behavior based on online activity.
Do you know what those limitations are? Can you adapt to them in your marketing efforts? Can you set expectations accordingly?
Ultimately, when it comes to lead generation, data is crucial, but knowing how to use the data is even more important. At this year’s LeadsCon Connect to Convert conference in Boston, Benepath President Clelland Green and Infutor Data Solutions Executive Vice President Brian Wool will tackle this issue head on in the session “Lead Optimization: How to Use Data to Create a Better Customer Engagement,” where they will show marketers how identity data can be used to improve lead quality and enhance customer engagement by attributing performance to data inputs.
Additionally, Green and Wool will tackle the question of how the best marketers improve their leads and get customers more excited about their products by collecting data and creating their own model for converting leads. If you want a smarter approach to lead optimization, join us at this year’s LeadsCon to learn how data-driven lead optimization can transform your sales funnel and push your conversion rates higher.