The "trust-your-gut" style of marketing isn’t getting you anywhere in today’s cut-throat SaaS domain.
In fact, according to McKinsey, guesswork in marketing can sink a SaaS business into a failure spiral.
On the other hand, accurate data can empower marketers to build revenue-boosting SaaS marketing strategies without any complex calculations!
After all, marketers may have biases, but data is always neutral. It conveys factual information to strengthen high-impact decisions, thus helping businesses thrive.
The question is - how can SaaS marketers tap into data-driven marketing?
In this post, we will share five data-driven marketing examples to inspire SaaS marketers.
So, let’s get started.
Example #1: Personalization through Customer Demographics
Personalized marketing is no longer a luxury.
However, the key thing to understand here is that personalized marketing is an ever-evolving process.
Hence, marketers must consistently find and leverage in-depth, accurate data to understand customers’ growing expectations.
They must continuously track what works and what doesn’t.
This can help create personalized demand-generation campaigns to attract qualified leads and nurture meaningful relationships.
In fact, research state that 71% of customers expect businesses to keep up with their expectations and deliver personalized interactions. This can help companies drive a 10% to 15% revenue lift.
The contrary is also true. Around 76% of customers get frustrated when companies don’t offer personalization. Often, they switch brands because of a poor experience.
Personalization ultimately impacts your bottom line. If left unattended, you will lose out on the holy grail of marketing: customer retention.
What data can help achieve the goal?
With customer demographics data, personalization can become a breeze.
For instance, you can analyze website form fills, social media accounts, and more to collect customer demographics like -
- Job title
- Income level
This can help build accurate customer profiles, thus laying the foundation for personalization.
Check out a few crucial use cases of customer demographics data.
- B2B Website Content: Marketers can leverage tools like Google Analytics for accurate website demographics.
This can help personalize website content elements like headlines, titles, blog posts, and more as per customer preferences.
- B2B UX: Marketers can count on website customer behavior tools like Hotjar, FullStory, and Mouseflow to visualize website visitor behavior.
This can help design a compelling user experience with visuals, a navigation menu, CTAs, and more to ease the customer journey.
- B2B Sales Emails: Marketers can deploy email template builder tools like Moosend, Strip, and more to create responsive emails seamlessly.
Analyzing customer age, interests, names, and more can help build personalized emails. They can pitch the most suitable SaaS products and services that interest the customers.
Pro Tip: Most importantly, marketers should track the effectiveness of their strategies. For instance, for website content, marketers should monitor metrics like page views, average time on page, bounce rates, and more.
Similarly, for user experience, marketers should analyze conversion rate optimization, bounce rate, user error rate, and others.
In short, tracking the strategies can ensure a high success rate while saving resources, time, and effort.
Bonus: Marketers who want to uncover specific insights about their target market can check out the "datasets" by the Pew Research Center or MyBestSegments. These websites offer data on users' demographic trends, internet usage, global attitudes, and more.
Example #2: Customer Behavior Analysis for Email Campaigns
Research reveals that over 50% of people prefer business communication via email.
Yet, the average email open rate is only 21.33%, which means most emails go unnoticed.
One of the biggest reasons for such customer behavior is unsolicited email marketing.
On the other hand, targeted email marketing can provide an average ROI of $36 for every $1 spent. When done right, it ensures every message counts.
Here's an example depicting how SaaS marketers can create targeted email marketing campaigns by analyzing customer behavior data.
Here's what the SaaS service provider did -
They gathered customer details like their name, email Id, and more when the user signed up for their services using CRM or internal marketing software. The system flagged customer behavior, which prompted the marketers to send a reminder email asking for payment completion.
The potential outcome:
This data-driven marketing strategy can re-engage customers by prompting them to complete the payment process. It reminds them of the benefits they might be missing out on.
Ultimately, customer behavior analysis helps marketers convert the lead faster, thus accelerating the "freemium to premium" rate.
Besides, tracking relevant metrics like email opening rates, bounce rates, and more can help optimize strategies and make data-driven decisions for improved customer acquisition, retention, and satisfaction.
Pro Tip: For accurate and fast analysis, marketers can deploy email automation tools like MailChimp, Drip, Convertkit, and more.
These tools allow marketers to create targeted emails to reach the right audience with the right message at the right time.
The best part? Marketers can track their efforts using their analytics feature. They can analyze metrics like clicks, opens, purchases, and more to optimize email campaigns for greater ROI.
Example #3: Better Understanding of Buyer Journey
With technology evolving at lightning speed, advertising platforms frequently update their algorithms to offer users and advertisers a seamless experience.
On top of that, the competition to grab audiences' attention is becoming fierce. SaaS companies are bombarding customers with ads.
So, to stand out in the sea of commercials and attract the right audience, marketers must constantly optimize their ads.
The first step to optimization is understanding that profitable ad campaigns are never brand-centric.
They have a razor-sharp focus on the customers.
So, build an ad strategy that aligns with your buyer journey.
The buyer journey reflects the initiatives or steps prospects take before converting into customers.
It features three major stages:
- Awareness: The prospect understands the pain points your SaaS product or service can solve.
Ideal Ad Campaign Strategy: Marketers should draft personalized ad content that acknowledges and helps resolve the prospect's challenges. Besides, creating visually engaging content can maximize the chances of grabbing the audience’s attention as they scroll through the platforms.
- Consideration: The prospect begins considering your SaaS solutions to resolve their pain points.
Ideal Ad Campaign Strategy: Marketers should create ads that demonstrate the capabilities of SaaS products to resolve the audience’s problem. Besides, running retargeting ads to attract and engage users who viewed previous ads can also work.
- Decision: The prospect is about to make a decision.
Ideal Ad Campaign Strategy: Marketers should create an ad campaign that helps customers make informed decisions.
In short, successfully aligning ad campaigns to each stage is the key to winning customers.
For this, marketers can leverage sales data from their CRM and combine it with customer behavior data for better analysis.
For instance, they can create a customized dashboard to gain insights like customers' past purchase history, location, interests, etc.
Moreover, marketers should track metrics like customer engagement, conversion rate, click-through rate (CTR), sales-qualified leads, average order value, ROI, and more.
This tactic can help avoid targeting bad-fit customers and inform marketers of new opportunities. They can identify the prospect's stage in the sales funnel, and aligning ad strategy to the buyer journey can accelerate conversion rates.
Example #4: Ongoing Market Trends for Omnichannel Marketing
Today’s customers have multiple platforms to connect to and interact with a brand.
No wonder, they start their journey from one platform, continue it on another, and end up on an entirely different one.
So, to boost the chances of conversions, marketers must optimize their omnichannel marketing strategy.
One of the challenging parts of omnichannel marketing is - testing!
Marketers leveraging specific marketing channels with proven acquisition and engagement often find it risky to test a new platform.
For instance, a SaaS marketer is proactively involved in website and email marketing and aims to build social media presence.
In such instances, marketers will require extra effort to create and run successful campaigns from scratch. Wrong decisions based on intuitive decisions can cost them a hefty amount.
Here, leveraging ongoing market trends data can be the best bet.
A marketing ROI dashboard with advanced analytics tools like predictive and prescriptive analytics models can help marketers establish a strong presence on social channels.
Predictive analytics scrutinizes historical and present market campaigns, trends, and customer data to help marketers understand upcoming market trends. Besides, prescriptive analytics allows them to take the next best actions (NBAs).
With the prescriptive and predictive analytics model, marketers can find answers to the following questions.
- What are the top and least performing social channels?
- What social channels do customers use for interactions?
- What are the top social channels your competitors are leveraging?
- What social channels do you need to focus on?
- What strategies can help boost social engagement?
In addition to these insights, advanced analytics dashboards help track the following KPIs to ensure marketing campaign success.
- Engagement: likes, clicks, comments
- Video posts per week
- Image posts per week
- Most engaged audience time
- Most engaged audience day
- Return on investment (ROMI)
Example #5: Leverage Retargeting to Win Customers
Most visitors don't convert on their first website visit.
The more complex or expensive your SaaS product, the longer it might take to see results.
That’s where retargeting comes into play.
It enables marketers to target previous site visitors with compelling and relevant ads. The goal is to attract them to your website and convert the next time.
Here’s an exemplary data-driven marketing example depicting retargeting in five simple steps:
The only thing marketers need to grab prospects' eyeballs and convert them into customers is accurate website visitor data.
Pro Tip: Marketers can deploy website analytics tools like ConvertFlow, ReTargeter, and AdRoll. With these tools, they can track website KPIs, like -
- Industry-specific page visitors
- Pricing page visitors
- Shopping cart abandoners
- Previous buyers
- High funnel converters
- Video ad viewers
- Regular website visitors
- Blog post readers
Marketers can use this data for retargeting the solid base of prospects already familiar with their SaaS products and likely interested in buying them.
Future-Proof Your Marketing Success with Revlitix
In fact, you’d be hard-pressed to find SaaS marketers following their instincts to run marketing campaigns.
However, merely having data is not enough. Marketers dream of having a platform that enables them to run campaigns on autopilot so they can focus on the creative elements - testing and optimization.
Revlitix is your one-stop, power-packed revenue marketing platform to automate marketing analytics. It helps you make sense of mountains of data by transforming it into actionable insights so you can focus on creative aspects.
Powered by advanced analytics, Revlitix offers -
- Over 100+ pre-designed, drag-and-drop dashboard templates with a 30-second set-up (Not kidding!) This allows you to save effort and set up a dashboard without hassles.
- Quick integration with advanced Martech platforms - Google Ads, Google Search Console, Google Analytics, Hubspot, Bing Ads, Salesforce, Linkedin, etc. Connect your data sources in less than 3 clicks!
- No-code capabilities - The platform offers drag-and-drop elements. You don't have to be a tech-savvy professional to use it or write a single line of code.
- KPIs tracking capabilities that matter the most, including customer lifetime value (CLTV), customer acquisition cost (CAC), etc. You get the freedom to choose the KPIs as per stakeholders' requirements.
The best part? Revlitix is built and vetted by experts with over 15 years of experience with proven credibility. So you don't have to worry about anything!
Data-driven marketing boils down to having relevant conversations with your target audience.
It offers relevant customer and market insights, enabling marketers to build informed strategies. Plus, it allows them to measure the effectiveness of their campaigns and divert resources to those fetching maximum revenue.
Go ahead and take inspiration from the data-driven marketing use cases shared in this post to create maximum value for your customers and organization.