Modern marketing is a fast-paced, ever-evolving whirlwind of activity. Along with everything you have to do yourself, manage within your team, and measure across your department, there are also plenty of trends and developments within your market that you need to constantly keep track of just to stay relevant. It’s tough. To help you not only survive, but thrive, here are 10 quick competitive advantages that help modern marketers measurably outperform their peers.
1. Lead Scoring:
Marketing effectiveness research shows that the majority of Best-in-Class marketing organizations (68%) actively leverage lead scoring. What’s more, in the deeper stages of the sales cycle, between Sales-Accepted Leads (SALs) and Sales-Qualified Leas (SQLs), lead scoring practitioners have nearly twice the average conversion rate from stage-to-stage as non-practitioners (43% vs. 27%). If you want to ensure that marketing’s contributions turn into revenue through sales, lead scoring is a critical edge.
2. Measured Mobile Expansion:
According to data from Localytics, the amount of time people spent in their mobile apps increased by 21% from 2013 to 2014. This sounds like an opportunity for a more receptive, engaged audience as data from HubSpot also notes that mobile ads perform 4 to 5 times better than online ads, but the key is to be calculated and customer-centric. You may not need a full, uniquely branded app to deliver value to your audience; you may need to only ensure your messages are mobile-optimized, but while everyone else may be going mobile (crazily, in some cases), the more you can measurably get your mobile presence and communications right for your audience, the more you can stand out.
3. Lead Nurturing:
Want to secure a larger budget for your marketing efforts by measurably providing more revenue for your organization? Research on lead nurturing shows that practitioners measurably average a higher contribution to their sales-forecasted pipeline than non-practitioners on average (30% vs. 22%). If you’re unsure if lead nurturing is worth the work, let me reassure you, it is, and it will be reflected in your overall performance.
4. Account for Multiple Buyers:
As reported by Patrick Spenner, a study by the CEB revealed that on average, there are 5.4 people involved in a B2B buying decision. What’s more, as the number of people within a buying group increased, the data showed that the purchase likelihood decreased. When you account for multi-buyer scenarios, however, you can align your content accordingly to have both quick, “catch-me-up” pieces for decision-makers new to the group, paired with in-depth resources for those who are already up to speed.
5. Align Content to Stages of the Buyer’s Journey:
Content marketing research shows that when marketers align content to the specific stages of the buyer’s journey – answering general discovery questions at the top of the funnel, providing more detailed, consideration-supporting content at the middle of the funnel, and using content to enable evaluations at the bottom of the funnel – those marketers average 73% higher conversion rates than those who don’t use this tactic. Moreover, this is something Leading firms are 93% more likely to do vs. their lower-performing peers. When in doubt on what content goes where, let your buyer’s questions plot it out.
6. Document Your Content Strategy:
If there’s something that 65% of marketers aren’t doing (but should be doing), you can bet it’s an opportunity to get ahead of the pack. According to the Content Marketing Institute, that one thing that only 35% of marketers do is to have a documented content strategy. Sure, having a strategy in your head is great (which 48% of marketers claimed to have), but when it’s documented, you can measure how that strategy is working, optimize specific components, and demonstrate the returns from your efforts.
7. Use Video in Content Marketing:
Driving a higher impact at a lower cost is a marketer’s dream – it’s really any performance-minded professional’s dream, for that matter. In Aberdeen’s research on video marketing, that dream seems to be a bit more of a reality as marketers who use video reduce their cost per marketing generated lead by 19% when compared to those who don’t use video ($93 on average vs. $115). Part of this may be because video allows you to convey more information in less time, but clearly, there is an advantage in it.
8. Analyze Your Marketing Data:
According to a study by Oracle | Eloqua, 30% more time spent analyzing marketing data can yield 3 times higher email open rates and two times higher click-through rates in email marketing campaigns. Plenty of marketers have data, but the key is to actively use it understand what’s working and what’s not.
9. Integrate Your Marketing Technologies:
64% of Leading marketing organizations report that they have integrated their marketing automation platforms with their content management systems to support content-based lead scoring. Another 64% of Best-in-Class marketing firms from a study on lead nurturing report that their marketing automation platforms and CRMs are integrated to enable pipeline revenue metrics for marketing. In short, the more you integrate, the more you can measure, evaluate and optimize. The Best-in-Class are doing it, so it only makes sense to follow suit.
10. Get Customer-Centric:
There are plenty of competitive advantages in customer-centric marketing, but most significantly, companies that leverage multi-channel customer insights collectively enjoy a 228% greater increase in year-over-year cross-sell and upsell revenue from their customers, vs. their insight-lacking counterparts (22.6% vs. 6.9%). Long story short, when you listen to your customers, they listen back – especially when you’re pitching new or upgraded services.
Do you have any additional competitive advantages that you’d like to share? Feel free to add your insights in the comments below!