As a marketing department, you can sometimes be overwhelmed with information. On the face of it, that seems like a good problem to have. Your database is packed full with more data pouring in all the time. The issue is… is it of any use?
Even if your data is up to date and compliant, does it enable you to segment your contacts according to the picture of the perfect target prospect you’ve got in mind? Let’s face it, if you’re aiming to hit a vertical but you’ve not detailed the industry, then your database is next to useless for that campaign. What’s the solution?
It helps to get an understanding at a high level first…
We’ve mentioned in previous articles that a first port of call for useful market information is the BIS – the Department for Business Innovation & Skills. The BIS is a government department that carries out a wealth of statistical research into the UK economy. It regularly produces reports on different aspects, but in our view one of particular interest is their annual release of Business Population Estimates for the UK and Regions.
For example, did you know that just under a fifth of all SMEs operate in the construction industry, compared to just 1% in mining, quarrying and the utilities sectors? Over a third of SME turnover was in the wholesale and retail trade and repair sector. It’s food for thought.
So, if one thinks about the sales conversion funnel… how does your data shape up now? Can you identify enough target companies based on your estimated response percentages to get the results you’re looking for? It’s invaluable to know before a campaign starts whether you need to realign your expectations of the opportunities available, or investigate where you can get more data.
At virtualROI, we have considerable experience in assessing this and can give you guidance on what you need to enhance your data to the right level for your planned marketing campaign. We can acquire the necessary information, help you segment it according to your target market, and perhaps even review the profile of your audience to help you get the best results.
By the time you’re ready to launch your marketing campaign, you will have a very clear idea of who you are targeting, what they ‘look’ like, and how best to make your approach.
We hope that this article has struck a useful chord. If you’d like to discuss your data requirements and find out more about how enhancing your data can turn your marketing campaigns into outstanding successes, please do not hesitate to contact a member of our team.