No one will deny that the last few years have seen huge advances in Marketing Automation and while this automation has allowed Business to Consumer marketing companies to thrive it has regressed Business Marketing innovation in certain ways.
Business marketers are all talking about “Big Data” and its benefits but in the meantime marketing data is flooding the enterprise and marketers are realizing that besides static analytics they need something else to help them take advantage of all of this data. Most experienced marketers know how to get, manage and analyze data, but only a handful know how to “turn data into winning insight”.
Undoubtedly analyzing clean data will help achieve business goals, but without the addition of impactful insight about the state of accounts or market segments it will be only partially effective.
To acquire this important insight in spite of all of the obstacles to reach people live, you need to speak directly and meaningfully with your target (new) prospects (not customers as they are already in your camp) and here is where the Marketing Innovation steps come in.
To really understand the demand for your products or services in an account or market segment today you have to apply an innovative approach. Furthermore, your approach must be modularized into workable segments as neither too high level nor too detailed information works since the great majority of the prospects are already in somebody else’s camp and overwhelmed by the flood of information.
Most business marketers seem to borrow tactics from their consumer brethren and flood the market with millions of messages singing praises for their products and prices. The slightest prospect reaction, such as a website visit, triggers an instantaneous onslaught by often lower skilled market facing personnel, which just annoys the visitor.
In the end the business marketer rarely obtains the insight they need to prosper in ever increasingly competitive markets – which is why so many marketing campaigns fail.
So how do you get this impactful insight? By executing an organized “insight gathering campaign” with realistic objectives and to which your entire market facing team is committed. Perfect insight is too expensive so your campaign must be deigned to have “just right” value and be relatively straight forward to implement.
If you want to be an effective marketing leader you will blend the needed account insight into your marketing mix because incorporating innovative tactics helps clarify and refine the best path to winning new accounts – which is a business marketers overarching measure of success.