B-to-B: Customer Onboarding
2. Use Data Wisely
According to research firm SiriusDecisions, companies could realize nearly 70 percent more revenue by simply having better data.
Where to start? Evaluate what you already know and remove the dead weight. This may seem a neverending task to truly maintain a current and accurate marketing database, but consider the example in the chart below.
If the first record represents the data that was already in your database, you probably sent every corporate offer to John, just like everybody else on the list. This becomes incredibly wasteful when you think about how many of your other entries share the same empty status. Once you partner with a data vendor that provides a current phone number, find out the additional cost to acquire information, such as areas of the business each record is responsible for—or better yet, the things they have authority to purchase—and fill in the blanks.
This information can help you not only send more targeted communications, but also find a number of contacts who have similar profiles to the contacts who have already converted. Now your database becomes a prospect pool of valuable contacts with a much higher probability of buying your products.
Given that the average person changes jobs every three years, it is absolutely critical that you have a reliable and fresh source to update this data.
3. Contact Them on Their Terms
People tend to prefer different types of information and methods of communication, depending on where they are in the buying cycle for your product or service. Learning those preferences early can make a big difference in influencing their decision to continue the conversation with you. The key value your contacts receive for sharing this information is that they'll get whatever they need—information, support, etc.—when they need it to support purchase decisions. The value for your business is that you learn a little more about them at each point of contact.