B2B teams and companies today are exposed to vast amounts of data being channeled into martech-salestech systems from various sources. While B2B teams now have access to large quantities of data, what should they be doing to use this data to turn them into truly actual insights in order to drive business ROI and growth?
The key question lies in understanding how B2B sales teams especially can ‘’identify ways to use all this data’’ to reduce the incidence of missed revenue opportunities while shortlisting the most feasible prospecting and sales opportunities at hand.
Leveraging data and implementing the right data practices are key to enabling growth today. Most sales and marketing leaders have configured ways to get their teams to understand the core business model and what the near-term revenue goals for the brand are.
But the next step – collecting the right data and then using it to drive actual ROI is the part that will help make or break the future of the brand.
So how can B2B sales teams truly grow revenue using their data?
Here are a few fundamentals to consider:
Knowing what Entails Data-driven Growth while Understanding what Exactly within this Data can Lead to it
Being a data-driven centered sales or marketing team in B2B is the talk of town today. Several B2B sales and marketing teams have already put into place various practices to collect data from their email campaigns, social media campaigns and other kinds of outreach. But collecting this data and even storing it in unified systems is not enough.
B2B salespeople who have access to this data then need to work closely with their marketing counterparts to know what type of data from these data sets can actually lead to business growth.
If a set of newsletter subscribers, for instance, seem to be younger executives who are not necessarily buying decision makers in their organization, sales people don’t need to look into this set at all.
But if a brand has a set of regular blog or newsletter subscribers who are at senior level positions and key to the functioning and decision making of their brand, this is where marketing and sales teams need to draw the difference and know what needs to passed on for a potential sales nurture, proactively.
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Hiring Right for Required ‘’Data Roles’’ in your Team
Most B2B teams might have collided their teams to have the same marketing operations or sales operations team members handle their martech-salestech systems and keep an overview of all this data.
To drive growth through an improved data-driven practice, it is crucial for B2B teams to identify the right resources and people who can have dedicated tasks that include collecting and collating all the brand’s various marketing/sales data, using the same or other people to truly analyze this data using the right reporting and analytics systems so that all this data can be turned into actionable insights at the right time, then having dedicated number crunching executives who can draw insights from this data to align future processes and team outreach.
The power to collect and unify data is one small step in the B2B game. The other requires dedicated executives with the right skills to constantly do a deep dive into the data that the company’s martech and salestech systems take in. This is where other important aspects like cleaning and updating the data are needed, to ensure a better overall data practice in the organization.
Ensuring the Executives who work on the Data-Insights do not get Burdened with Operational Tasks
One of the biggest benefits of a tight sales automation process is to help B2B sales teams reduce the amount of time they spend in repeatable/ manual tasks while allowing them to scale their output with fewer challenges.
For B2B teams and sales leaders who are looking to making the jump from just being a data-driven organization to using their data to drive proven ROI, it is crucial to stay atop of the data roles (refer: point 02 above) and have these resources work on the data as a dedicated task objective.
Larger teams who run different kinds of marketing/sales models will constantly have data from various campaigns, outreach initiatives and channels being stored in their systems all the time. Integrating these systems to create a unified view of this data is a key fundamental and then having these teams work through this data on a daily basis is just as important to drive sales growth.
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