In today’s digital age, where every company has an active presence online, it seems like it’s impossible to stand out. Most companies already rely on conversational and interactive social media posts to gain extra recognition from their followers; one account based marketing strategy to employ is to accompany those interesting and informative posts, and other marketing messages, with research and data.
Incorporating research and data into your marketing strategy might sound intimidating, but its benefits far outweigh the negatives (which only amounts to time spent collecting and analyzing data). Informed decision making is also an important part of an account based marketing strategy (which is why the practice is close to our hearts).
Position Yourself as an Expert
These days, everyone relies on facts and data to make choices in their lives, whether it’s deciding which doctor to visit or which product to buy. So, it follows that providing verified research to back up your company’s claims will make you more trustworthy.
After all, any company can make a vague or wild claim about their solutions, but a company that can prove their expertise will be a clear winner.
But let’s not get too far ahead of ourselves. First, you want to conduct general market research because it helps you:
- Identify potential sales leads.
- Reduce business risks.
- Find potential problems in the market (that your company could solve).
- Focus on a plan of attack.
Furthermore, research can prompt you to adjust your account based marketing strategy once you understand where it is weakest. If, for example, you see your company is not performing so well in one segment, you can examine why that is and how to improve sales in that area (or, perhaps, abandon it for greener pastures).
Stand Out From the Competition
With every company claiming to offer the best solutions, data will prove that your company is the leader in the field. “Show, don’t tell” is an important rule to remember—not just for school work, but also for business!
That’s because companies often rely on clients to take their word—that they are the best of the best—but that trust is taken to a whole new level when you can definitively prove that your company is the best.
Plus, by integrating account based marketing strategies, specific, targeted prospects can get to know your company very well, making your solution appear well above and beyond your competition. After all, some parts of marketing are about trial and error–but if you can perfect your message for fewer, targeted accounts, you’re more likely to close.
Better Understand Your Market
Lastly, research and data will help you reach the right people at the right time with the right offer through the right channel. This starts by translating facts and data into profits by better understanding the market. As a result, companies will no longer have to rely on gut feelings or outdated practices; new and updated information keeps company trends and services current and interesting for their clients.
And while it’s important to continually market products and services, some companies may unintentionally over-advertise and drive consumers away. Understanding your market with current data will help you understand the best times and ways to market your services. It will also help you understand why certain services or products are not faring so well in the market—data may show that you have been marketing a summer-based product in winter, for example!
Final Thoughts
Clearly, all of these benefits intertwine to create a stronger and more profitable business. With research and data behind your message, your company can position itself as an expert in the field, anticipate the latest trends, avoid possible flops, and create a more definitive plan of attack for the future.
For more tips and tricks on marketing strategies (including account based marketing), don’t hesitate to reach out to us!
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