THE most important investment your business will ever make.
It’s a conversation from the boardroom that we hear all too often. Sales are down. Brief marketing. We need to do something – pick a channel, and make it work. The best marketing is built on customer understanding – learning everything about them to deliver the right message, on the right channel, at the right time. Some marketers would argue that’s easily achieved in B2C marketing, but what happens when your business is built on B2B relationships? Building a prospect universe will change how you operate forever.
Getting the data right
Rarely do we hear that B2B marketers want to invest in building a highly sophisticated and believable data set of who they can do business with in the UK. But maybe that’s because they don’t know how? Maybe they’ve not been convinced that this is something which can be done. Or maybe it’s because poor data quality and profiling are issues they have often had to deal with. And let’s not forget that some budget owners responsible for marketing simply see data as boring and not as sexy or glamorous as producing eye-catching creative.
Add those opinions and viewpoints to the digital argument about building databases (arguing that with the advent of digital we should be building our own databases by driving engagement with our custom content) and you have a real uphill battle.
Within B2B, where for most there is a limit on the size of the audience that will be relevant to buy your product, finding and locating that audience is actually the most sensible thing to do. Once you’ve done that, every single pound of marketing investment is going to work twenty times harder (or more!) than trying to pump your message out to the masses…
With the looming recession can you really afford not to invest in your B2B data strategy?
Creating your Prospect Universe
Here at Golley Slater we call this ‘Prospect Universe Creation’. Using sophisticated tried and tested methods Golley Slater build Prospect Universes that are robust and believable, providing businesses with a clear view of who they can really do business with in the UK and beyond.
A Prospect Universe provides your company with a real view of both the size of your marketplace, and also when prospects are going to be in the replacement window. This strategy means you can build structured nurture programmes to maintain and build relationships with the prospect until they are ready to transact. Every single pound of your marketing budget really will be working harder.
Making the universe GDPR compliant
Away from the tangible sales and marketing return-on-investment, brand positioning and more, building a Prospect Universe ensures that your data is fully compliant to GDPR guidelines, meaning there really isn’t a better time than now to invest in building a universe of who you can do business with.
We’d love to talk
Golley Slater Prospect Relationship Management (PRM) are on hand to discuss how to build a prospect universe for your business. We can share with you the methodology and the tenacity of blue-chip clients who are already reaping the rewards of incremental sales performance as a direct result of building a Prospect Universe.