Monday, July 22, 2013

If Content is Still King, Data is Heir to the Throne

Content marketing is becoming a primary strategy to solve the challenges of massively scaling and diversifying marketing channels. But content does not naturally support both scale and diversity at the same time. The only thing that scales as endlessly and cost effectively as the digital world is data. As a result, data marketing is on the rise and will ultimately inherent the throne as the core strategy for modern marketing. What is data marketing? It's using interactive data to directly influence or add value to your prospects, customers, and partners. Think of it as content marketing without the editorial. Data marketing is already fueling the rapid growth of content marketing. The best pieces of content marketing are typically wrapped around a compelling piece of (static) data. The key is that stripped of editorial, data must become interactive and not only deliver personalized insights but capture and bring user input back. 

Modern business solutions are increasingly deployed in the cloud on SaaS platforms that capture every transaction of every user. SaaS vendors are finding huge value in these datasets. They provide empirical evidence of best practice, efficacy, and cost effectiveness. Marketing and sales automation vendors can show their customers and prospects what types of campaigns result in the greatest lead generation, the highest value and velocity through the pipeline and the greatest return. They can tell them what type of social media content and cadence is most effective on which social media channels. This insight represents enormous value-add over and above the operational efficiency the systems provide.

Consider the power of this model applied to channel marketing. A SaaS platform for channel enablement can offer partners a single point of access to content repositories, transaction systems, execution environments, (inbound and outbound marketing, sales process tools) and social networks. If it's constructed properly it provides a place for partners to get work done, not just a library to read about how to get stuff done. For smaller partners that lack infrastructure and staffing resources this is an invaluable resource. As they use the platform it captures:
  • Engagement – who's downloading what how often from the platform
  • Transactions – deal registration, order submission, billing update, MDF reconciliation.
  • Execution– the number of leads their marketing has produced, how leads are progressing through their pipeline
  • Social interactions - groups they join, how they participate, what SMEs they interact with.
  • Performance data – closed deals, order value

Access to this data can be offered from the platform through the development of a few simple forms and reports. The more data partners provide, the greater the level of analysis and insight they get in return. This information can be used to identify best practices of the top performers and shared (in aggregate) with other partners to help them run their businesses, resulting in better overall performance of all partners.

By utilizing pure data as collateral, companies can deliver highly targeted proprietary insights at scale much more efficiently than they can with content. While the role of content will in no way diminish, companies that master the art of data marketing will have greater levels of engagement, retention, and revenue with all their key constituents than those that rely exclusively on content marketing. 

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