Blog

Cultivating Digital Excellence: A Roadmap to Empowering Your Marketing Team

Cultivating Digital Excellence: A Roadmap to Empowering Your Marketing Team

They say hindsight is 20/20, but what if you had the tools that make that statistic accurate for foresight? You may just be sitting on those tools without even realizing it. To survive and thrive in today’s digital landscape, your marketing team needs to make decisions based on data. This allows them to connect with their audience and grow into new ones. All thanks to well-documented information on your buyer’s needs.

What does your marketing team need to succeed in today’s fast-paced landscape? Let’s examine the roadmap to propelling your marketing strategy toward excellence.

How Marketing Fits Into Your Go-to-Market Strategy

There’s a common misconception that go-to-market strategies are just for when you have new product launches. Still, the reality is these strategies can also play vital roles throughout the lifetime of existing products. A go-to-market strategy helps you target customers at scale through marketing efforts built upon sales analytics and other data.

Essentially, it’s a coordinated effort that allows you to reach the right people at the right time through multiple channels. While they can help you launch new products, they can also help you move into new markets with existing products. Furthermore, they can help relaunch products when new features come out. Finally, they can refresh the memory of your products in the minds of your ideal buyers.

When done right, these strategies work like a well-trained orchestra. Your marketing, sales, and customer success teams should play harmoniously, supporting one another to create beautiful music. However, instead of go-to-market strategies simply ending as a song does, they can go straight into the next strategy. Thereby, creating a cycle of success.

Your marketing team puts together tactics to target your audience. From there, your sales team connects with interested buyers, continuing the messaging of the marketing team to secure sales.

Then, it’s on to the customer success team to keep buyers engaged and interested in the company and its products. They should develope relationships that can turn your everyday buyer into a company’s champion. The cycle begins again, with the marketing team’s efforts deriving from data accumulated through the sales and customer success processes.

Informing Your Marketing Through Data-Driven Insights

These go-to-market strategies only work when data drives them. When you’re first launching a go-to-market strategy, you may not yet have sales data to look at. However, that doesn’t mean you don’t have information that can help your marketing team better target your audience.

Research

Audience research is the first part of building a successful go-to-market strategy. If you don’t have your own sales data to look at, or even if you do but want more information, analyze trends in your market. Look at your competitors and their interaction with the potential buyers you want to reach.

Buyer Persona

Use that data to build buyer personas or profiles of potential customers. These enable you to fine-tune your messaging by identifying the wants and needs of your target audience. Tailor your communication to individual customers by personalizing emails during outreach efforts.

Remember that part of developing go-to-market strategies is understanding you may have multiple buyer personas. However, a go-to-market strategy should ideally target one at a time. After all, the messaging for reaching one type of buyer may differ vastly.

Consider, for instance, the viral success of the Stanley brand. The brand has been around since 1913. For decades, the focus was on workers who need long-lasting cold or hot drinks. For example, long-haul truck drivers and construction workers.

However, when a group of commerce influencers found the brand and began to publicize it on their blog, Stanley unlocked an entirely new audience. This shifted not only their marketing to target their new, predominantly female buyers but also their product design. Hence, the launch of bright colors that made Stanley a fashion icon.

Although winning new customers is more expensive than maximizing your customer lifetime value (CLV) and sustaining your current customers, a technologically savvy marketing team can take advantage of opportunities to grow in new directions. That acquired data can have far-reaching implications for your company. This reaches beyond your marketing, resulting in information that can help you better tailor your product to your audience’s desires and necessities.

Why Your Marketing Team Needs Cohesion and Collaboration

That data doesn’t come from just anywhere, however. To dive into your analytics, you need tools to track information on your customers. This will help you build better buyer personas, write more targeted messaging, and assist your sales team with securing customers.

There are tons of analytics tools on the market. However, you also need systems to help you oversee your data. While a social media marketing tool, for instance, can help you gather essential insights on how your social media is connecting with your audience, it does give you a limited picture. This is because it won’t be able to see how your emails, events, and other marketing tactics are faring.

ERP System

An enterprise resource planning (ERP) system can help you develop a more complete image. ERPs are a central hub for businesses, connecting multiple parts of your operations. Not all ERPs work the same, but many ERPs allow teams, including your finance, human resources, manufacturing, customer success, sales, and marketing teams, to all work through the same software.

For go-to-market strategies to work, your marketing team needs insight into the other components of your company. With an ERP’s data analysis, they can look through the eyes of your sales and customer success teams. This enables them to see what they see when working with current and potential buyers.

ERPs can help prevent the development of data silos. These silos essentially stop the spread of information throughout your company. Without tools like ERPs keeping data flowing from one team to the next, your sales team may simply sit on information your marketing team could use to target your audience better.

According to a study by Airtable and Forrester Consulting, 79% of knowledge workers said their teams struggle with silos. Then, 68% said their work is impacted negatively because of their lack of insight into cross-functional projects. These workers spend nearly 30% of their week searching for crucial information they need to do their work. To make your marketing and sales teams more efficient, an ERP can help stop such silos in their tracks and keep them from wasting valuable time.

ERPs are often versatile and can connect with other tools. Many ERPs allow for integrations, so if you want different analytics tools, you can find an ERP that connects with them. This keeps your ERP as the central hub you want it to be.

Fostering an Atmosphere of Continuous Improvement

Marketing, on the surface, is a highly creative industry. To target new and existing customers, marketing teams must always search for new opportunities to make connections. Marketers are constantly looking for clever ways to grow their company, from employing influencers to reach new potential buyers to optimizing a content marketing strategy that helps you earn better search positioning.

However, looking below the surface, you’ll find the best marketing teams have discovered a successful marriage between creativity and analytics. These marketing professionals use analytics to drive their creations. Further, backing up their decisions with insights into their company’s sales and customer success data. According to a study by McKinsey, 72% of the fastest-growing B2B companies say their analytics play a vital role in helping them with sales planning. Meanwhile, only 50% of slow-growers report the same.

Making your marketing and sales choices based on analytics will put you ahead of your competitors. A Gartner survey found analytics only influence 53% of all marketing decisions. Companies that report using analytics in less than 50% of decisions are more likely to say they can’t prove the value of marketing.

By automating your collaboration with other teams and utilizing tools like ERPs and their various integrations, you can be adaptable and make decisions based on real-time analytics. This is what can help you stay ahead of your competitors. You’ll be able to attribute every dollar spent on your marketing accurately. Thus, see how that spend is helping you reach your business goals.

With a lack of data silos and more insight into each department, you can help foster a culture of accountability. This culture can propel you toward continuous improvement, with each team assisting the others in reaching their goals.

Driving Growth in the Digital Landscape

In today’s digital landscape, markets move faster than ever. Trends are constantly coming and going, as are the needs of today’s buyers. To better target your audience, your marketing team needs to be privy to real-time analytics, giving them insight into their markets and the other teams within their company.

Successful go-to-market strategies thrive on transparency and collaboration. When a marketing team succeeds, it’s typically not simply because of one creative idea. Their in-depth research, based on learnings from their sales and customer success teams, gives them a look at the ideal customers they may not have otherwise had.

Tools like ERPs can help centralize data, preventing the creation of data silos, which stop the spread of information throughout a company. By blocking such silos from developing, you can get ahead of your competitors, make more impactful decisions, and, even better, demonstrate the value of your marketing campaigns.

As the digital domain evolves and more tools develop, staying on top of what’s available for your marketing team regarding collaboration and analytics is crucial. Such tools, as well as your overall optimized go-to-market strategy, can help your marketing team achieve operational excellence, driving your company's growth and helping you start new, successful chapters.

Blog Categories

Recent Posts

Search Site
© 2012-2024 Mikegingerich.com    Contact   -   Privacy
magnifier linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram