B2B data in a recession
With plenty of gloomy headlines reporting the state of the economy, it’s great to see it’s not all bad.
Research in the US and from the IDM in the UK show signs that B2B marketing budgets are on the rise again. With everyone working in tight constrained conditions over the last few years this is certainly something to celebrate.
But actually tough as it has been and still is for many, facing budget cuts and changes to resources across virtually every industry has led people and organisations to re-examine their approach to B2B data. Tough climates make the best companies and systems the only option. Those that cannot provide sufficient evidence of good ROI just won’t cut it.
Whilst it has been rough for many industries we should also appreciate the value of reappraising a system and approach which pushes you to perform better. I’ve worked in this industry for over two decades and so it’s really brilliant to see B2B marketers really embracing good quality data and analysis. When resources simply can’t be wasted, using data as the key that lets you speak to the right people at the right time is transformed into something very desirable indeed.
For some companies there is a feeling of recovery and optimism for what 2011 holds. Others will still feel uncertain that the financial storm has well and truly passed. Either way, the desire to keep a tight reign on costs has become much more ingrained in business culture. When it comes to data as part of the marketing process there has been a real culture shift. Long live the revolution I say, data has come out into the light and so long as I have anything to do with it there will be no going back to the old days.
Companies are seeing real evidence of ‘Data Culture’ as more than just numbers but rather an understanding that their clients and future customers must be viewed as the lifeblood of their organisations and at the very heart of any successful project. Data is no longer the last consideration in the marketing process but absolutely the crucial starting point. This is good news for efficiency (less trees chopped down), businessmen’s attention span (fewer emails to trawl through in a busy inbox) and the organisations commissioning the marketing campaigns.