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0.3%.
Did you know that that is the average click-through rate is for a B2B digital ad?
That really is a very low figure. I’m sure that you don’t need us to tell you that, but we had to say it. Of course, if you send out hundreds of thousands of emails and your adverts display to almost everyone under the sun, you’ll eventually start seeing some useful engagement. But how much money and time is wasted on the emails that are sent out to the void, never to be opened or engaged with? Recent figures show that 88% of “mass” emails are going straight to the trash folder.
That’s the big problem at the core of B2B marketing; the problem that we need to start addressing. This scattershot, spray and pray approach is far more than just inefficient – it can waste your limited time, energy and budget.
Why are only 12% of emails, and 0.3% of ads seeing engagement? Most B2B marketers seem to be furiously running A/B tests and testing new channels assuming it’s a content or reach problem. But it’s not an issue with what you’re sending or how you’re sending it, it’s an issue with who you’re sending it to.
Ultimately, even if you can reach your entire target audience, only a fraction of them will be in buying mode. This small fraction that are actively looking for organisations like yours are what we call the Total Active Market (TAM). According to our figures, only between 2-5% of your audience are part of your TAM at any one time.
That’s why so many aren’t engaging with your marketing. Because, even though they may be in the market for your product or service, they aren’t looking for it right now. It’s a case of the right message, to the right person, but at completely the wrong time.
To fix this timing problem you need a lot of data: you need to know who your target market is, what part of the buying cycle they’re in and how you can best reach them. To learn all this, you need an engine that can track the behaviour of your potential audience and help you reach the customers that really matter.
But getting this data isn’t simple. By 2020, it’s estimated that every person on the planet will produce 1.7mb of data every single second. That’s a lot of noise to cut through. But you’ll need to find a way to sift through it to get the right data, and send out your campaigns to the right people with the right timing.
This is where we come in. We used to struggle with the B2B marketing problem in exactly the same way that you do – but now we have BDP Insight. Insight is a behaviour based marketing solution that cuts through the noise to give you real actionable intelligence based on the behaviours and buying patterns of your audience.
An always-on data ocean (it’s far bigger than a data-pool!) of 150 million organisations around the world, BDP Insight can get you the data that you need on your audience, helping you narrow down your TAM, and time your messages to the right people to get the best engagement and generate maximum impact.
By using BDP Insight to identify your TAM, you can:
Most importantly you can deal with the B2B marketing problem, start putting your marketing budget to better use, and see engagement soar as a result.
Contact us to setup a call with one of our team so we can discuss how we can help you find your TAM and talk to them at the best time – when they are looking to buy what you sell.
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