Utilizing A Data-Driven Marketing Strategy
For years, companies have adopted a common marketing strategy, one of which has evolved to become the standard for driving lead generation, qualification, and conversion. We’re speaking of course about data-driven marketing. Companies have been utilizing this strategy to draw predictions of potential customers based on one or more characteristics such as firmographics, demographics, or engagement. All of this information is gathered and analyzed to paint a picture of where this lead lies along their buying journey, and what steps are needed to guide them through.
Marketing teams have adopted this strategy along with a lead scoring system as a way to categorize their leads based on their sales-readiness; and to know at which point a live sales rep should intervene and take over.
Although this may seem like the most rational and effective solution, there are actually a number of drawbacks that come as a result of adopting a purely data-driven Marketing Strategy.
- Improper Lead Scoring Models
As new leads are generated, they are assigned a score that does not always properly reflect the lead’s readiness or interest in speaking to a sales rep. For example a lead can receive a high score, due to an action such as engaging with bottom of the funnel content, indicating that they are at the end of their decision making process and are ready to purchase. This then results in an immediate hand over to a sales rep, resulting in a ‘false positive’ wherein the lead is actually not ready, and was improperly scored, causing the lead to be turned off, and the opportunity lost. On the other side of the spectrum, a lead can just as easily be underscored, and as a result, be held at the top of the funnel, and not receive engagement on behalf of Marketing, resulting in a missed opportunity. Both situations not only create missed opportunities, but can also put a strain on the internal Marketing-Sales relationship.
- Predicting the future
Although historical data can be used as an indicator for predicting future behavior, it is far from foolproof. Rather it’s used as a tool for generating a model, which can then be used to generate possible future scenarios or outcomes.
- No lead left behind
With a data-driven marketing strategy, companies can sometimes be overwhelmed with an influx of new leads, all of whom aren’t necessarily relevant, or have buyer intent. This results in leads falling through the cracks, or not receiving the proper nurturing and attention needed to become qualified. SMB’s on average generate between 100-500 leads per month, so it’s no surprise that most companies struggle to keep up.
With companies coming to terms with this flawed system, many have wondered if there is a solution or technology that can provide the ability to execute real-time actionable changes that will have an immediate and direct impact on their overall strategy.
AI Driven Marketing
Utilizing AI (Artificial Intelligence) to gather and analyze data in order to create effective, real time actionable strategies is not a new concept, but it’s entry into the world of marketing and sales has been the driving catalyst behind the industry-wide digital transformation that we see today.
AI driven marketing harnesses the power of artificial intelligence to create automated decisions based on data and analytics, and proves to be effective as a tool to engage and interact during time-sensitive scenarios, where speed is crucial for generating a desired result.
Companies looking to undergo a digital transformation are adopting AI Driven-Marketing tools to alleviate pain points that have presented themselves as a result of utilizing a purely data-driven marketing strategy.
AI sales assistants have become especially beneficial when used to alleviate pain points associated with the lead qualification process, such benefits include:
- Automated Decision Making
With automated decision making capabilities, AI sales assistants offers real-time, data backed decisions which can have an immense impact on lead qualification, especially when it comes to interacting and engaging with leads in live two-way conversations.
- Real time personalization
When engaging with a lead, a live sales rep can take into account data points they have gathered on the lead based on previous conversation So to, with AI-Driven Tools, the AI will provide a more personalized interaction, providing the lead with a more human-like personal touch needed that is crucial for the lead qualification process.
- 24/7 Non-stop availability
Unlike a human Marketing or Sales rep, an AI-Driven marketing platform works around the clock, providing leads with human-like interaction regardless of time of day.
Integrating AI Marketing Tools Within Your Overall Marketing Strategy
With companies looking to scale their marketing using AI, it has become increasingly difficult to find the right tools needed to get the job done.. However it’s the Automated AI Assistant that allows you not only to save time and increase efficiency, but most importantly, scale the lead qualification process and drive new pipeline, without the need for additional headcount.
An Automated AI Assistant allows marketing and sales teams to qualify more opportunities and find new customers by ensuring every lead is followed up with, nurtured, qualified and automatically handed over to sales. An Automated AI assistant will even go so far as to mimic the actions of a live rep, and book a meeting directly into their calendar.
Automated AI Assistants work alongside your live sales reps to automate the manual repetitive tasks such as email and SMS (TextAI) messaging, using conversational AI – 24/7 at Scale.
Companies that have adopted AI-Driven Marketing Tools within their overall marketing strategy have realized:
- 35% increase in productivity
- 25% increase in sales-ready leads
- 5% increase in quota attainment per sales rep
By adding AI-Driven Marketing solutions like Exceed.ai, companies have been able to transform their outdated and unreliable methods for lead qualification, and enhance their marketing strategy to provide a more personalized touch on a mass scale, while simultaneously increasing the rate of qualified pipeline and boosting internal operational efficiency.