Data-Driven Marketing examples | Media7

Example #1: Focused view of data helps nonprofit that sells through e-commerce identify the best opportunity for revenue increase

Data can quickly become overwhelming. So many numbers. How do you find the opportunity?

TenbyThree© is a nonprofit that actually sells products. The charity sells baskets created by artisans in rural communities of developing countries to help the artisans pull themselves out of extreme poverty. And it had a whole lot going on with its team pulled in many directions. Where to focus? That focus because particularly important with the rise of COVID-19.

TenbyThree mostly sold these baskets in brick-and-mortar locations like Whole Foods Market, Disney theme parks and specialty retailers. But with the pandemic came a massive drop in foot traffic and thus sales, so the nonprofit has tried to increase eCommerce sales through its website.  The MECLABS Institute team (parent organization of MarketingSherpa) worked with TenbyThree to determine where to focus its conversion optimization discoveries.

This data analysis uncovered an opportunity hidden in plain sight product tags. Each basket sold in stores had a tag with information on how to connect with the individual artisan who created the basket by going to Tenby Three’s website. Very few customers were using this feature. If the tags could be optimized to get more people to use the website’s artisan lookup feature that increases in traffic would also likely help produce an increase in sales through the website. Get started with Demand Generation for saas

Demand Generation for SAAS Companies | MEDIA 7

In The Marketer as Philosopher Episode 2, The Data Pattern Analysis: 3 ways to turn info into insight you can see the methodical approach used to uncover this data insight to help you identify more opportunities in your own data. The episode also teaches viewers how to use a Data Pattern Analysis Tool (you can download the tool for free here). To get more data help, you can participate in a Live Coaching Session with Flint McGlaughlin, CEO and Managing Director, MECLABS Institute, on Thursday, August 20th 2020, from 1 p.m. to 2 p.m. EDT. In this Q&A session, participants will learn how to set up and use the Data Pattern Analysis Tool, simplify their data with three key dials, and apply the principles of The Marketer as Philosopher: Episode 2 to their own company.

 

Example #2: Targeted database helps tent maker pivot

It would be an understatement to say that COVID-19 has forced businesses to make significant changes. We’re all living it, we all know the impact. But some changes are more difficult than others. When that change is to focus on a new ideal customer, it can be difficult to pivot quickly. Many companies have built their customer base and customer contacts over many years.

This is where external data can be helpful to get highly qualified leads for saas company         

For example, TentCraft sells tents to event producers for concerts. But the events industry halted worldwide in March. While the team always knew they were too narrowly focused on just one industry and should diversify the business, they never got around to acting on it. But as the saying goes, necessity is the mother of invention. Suddenly they needed to pivot their entire go-to-market approach and find a new target customer quickly. The team came up with the idea to turn concert tents into drive-thru COVID-19 testing facilities, but they never sold to hospitals and didn’t know any hospital administrators

The team looked for a way to quickly enter a new market without increasing overhead. They worked with ZoomInfo to get data and insights for hospitals and other healthcare systems. They used the company and contact search to quickly execute a layered approach. The marketing team would start with a broader approach to outreach building an outreach list of 2,000 to 3,000 contacts. Based on open rates, responses and conversations, they learned not only about the specific roles they should be targeting but also what their pain points were. The sales team would use this information to create a more targeted outreach list of 100 to 200 contacts and then tailor messaging and visuals to demonstrate how TentCraft could address the specific pain points.

The click-to-open rate for the broader emails ranged from 15% to 28% while the more targeted lists typically ranged from 35% to 45% with a handful nearing 60%. Keep in mind, when you see those numbers, that this was all cold outreach. Because they had phone numbers, job titles, and location data, the marketing team was able to supply this information to the sales team in real-time when emails were being opened and link being clicked. This helped the teams prioritize, move to conversation quicker, and shorten the sales cycle.

Over $600,000 in revenue disappeared in March alone, but during the first two months of this pivot the company booked more than $2 million in revenue, and April was the biggest revenue month in company history (during a pandemic with the core revenue shut off). They are now 12% ahead of last year’s pace. In the first month of the pivot, they went into contract with more than 100 healthcare facilities which, remember, is an industry the tent maker had no prior experience with. This pivot was reactive. And while it has worked out thus far, the mindset in the company has now changed.

“A big takeaway for our team is that we need to always be pivoting to new markets, new products, features, and partners. That means pairing speed and agility with execution,” said Matt Bulloch, President, TentCraft…Read More

 

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