Data-Driven Decision Making: Grow In Digital Era

Genie Ng • March 12, 2021

The COVID-19 crisis has accelerated SMEs’ digital transformation in Malaysia, pushing businesses to digitize their business processes, modernise business models & enable data access more than before. Nowadays, quality data is extremely important for B2B businesses to succeed in their lead generation campaigns. 


Top 4 reasons why B2B businesses need to be data-driven.


1. Data helps you identify potential overseas buyers

Instead of targeting your ideal country, you can find out more about your potential market through data & grow your business in a market which has a high demand for your products! 

In the B2B industry, it is important for you to understand your product categories and which products perform best. You can do this by analyzing your industry data, carrying out demand analysis, trend analysis & price comparisons to compete with your overseas competitors.


2. Data helps you to generate quality leads

When businesses make decisions based on data analytics, their campaigns can deliver more qualified leads, generate more revenue & boost the overall return of investment (ROI). With the right data on-hand, you can simply find out which products are currently in high demand. In doing so, you can provide the right products to the right customers at the right time. It also allows you to scale your marketing efforts and measure success in terms of increasing conversion & sales. 


3. Data helps you to build a loyal customer base

Have you tried personalised marketing? 


This can include using customers’ name in an email addressed to them, or sending out a birthday message on their registered birth date with you. With enough data, you can better understand your customer profiles, so that you can create personalised, more relevant product content and avoid one-for-all messages. Personalized messages will show your customers how your products can solve their problems! This strategy will make it easier for you to convert customers, generate engagement, and build a loyal customer base. 


4. Data helps you to become a smarter industry leader

Your customers’ data will eventually lead you to a purchasing pattern that can help you determine how well your business is performing, or when your business approach needs to be changed over the long-term. Your customers may not convert immediately when they see your products. However, you can use your data to drive your B2B marketing campaigns & nurture them. 


If you would like to find out what are tools that can help your business to collect your buyers’ data. Click here


To recap of everything mentioned above, the top 4 reasons why B2B businesses need to be data-driven are:

 

  • Data helps you identify potential buyers overseas
  • Data helps you to generate high-quality leads
  • Data helps you to build a loyal customer base
  • Data helps you to become a smarter industry leader

 

Are you looking for a ready tool to help you with your B2B business data? Comment below!