B2B Data For Decision Making
In this episode of "A Buyer's World," Hannah Ajikawo, CEO of Revenue Funnel, hosts Olga, a marketing leader with extensive experience in hyper-growth companies like SEMrush and Ve. They discuss the importance of applying a marketing lens to the buyer journey and how data-driven decisions can improve go-to-market strategies.
Aligning on Data and Goals:
Olga emphasizes the need for sales and marketing teams to align on data definitions and goals. She suggests that revenue should be the primary target for both teams, with other metrics serving as secondary indicators.
Setting Up Effective Attribution Models:
Olga discusses the importance of setting up multitouch, data-driven attribution models. She advises against relying solely on first-click or last-click attribution and recommends at least a U-shaped attribution model to capture the full customer journey.
The Role of Sales in the Early Buyer Journey:
Olga and Hannah agree that sales should be involved in the early stages of the buyer journey, even if buyers prefer to explore solutions independently. Sales teams can provide valuable insights and support through online chats, lifecycle emails, and other non-intrusive methods.
Creating a Culture of Experimentation:
Both speakers stress the importance of a growth mindset and a culture of experimentation. Companies should allocate budgets for testing new strategies and be willing to take risks to discover new revenue growth engines.
Balancing Emotional and Rational Appeals:
Olga highlights the need for marketing to build an emotional connection with buyers early in the journey. She explains that while rational considerations are important, emotional appeals often influence buyers' initial interest and ongoing engagement.
Data-Driven Decision Making:
Hannah and Olga discuss the distinction between being data-backed and data-informed. They emphasize the importance of using data to guide decisions while also recognizing the value of intuition and common sense.
The Importance of Talent and Collaboration:
Olga advises companies to invest in marketing analysts and data scientists to support data-driven marketing efforts. She also emphasizes the importance of collaborating with data science and business analytics teams to align marketing priorities with business goals.
Real-World Applications and Examples:
The conversation includes practical examples of how companies can use data to improve their go-to-market strategies. Olga and Hannah share insights from their experiences working with various organizations and highlight the importance of co-creating strategies across the go-to-market team.
