BIA/Kelsey’s Local Commerce Monitor provides analytics and insights to help B2B media sellers and marketers segment the dynamic Small and Medium Business (SMB) market by highlighting differences in how these businesses operate when it comes to utilizing traditional and digital advertising and marketing solutions.
While surveys provide a snapshot of a market situation, marketers also need deeper granularity and attributes to identify, segment and sell to individual SMBs. Building intelligent data system designs that integrate disparate data sources to provide a timely, accurate and detailed view of the SMB market at scale provides a compelling competitive advantage. We tackle these issues and propose solutions in a new research report released by BIA/Kelsey and Radius, Media Firms and Marketers Win More SMB Clients by Designing Intelligent Data Systems.
The report examines the classical path-to-purchase model that SMBs travel along to make a purchase, which include “Awareness,” “Consideration” and “Selection” phases. A distinction can be made about the marketing Channels used for managing conversations with SMBs in each marketing phase and how Intelligence and Data can be utilized to segment, score, and prioritize prospects by predicting purchase intents and behaviors.
Deep data and segmentation analytics provides a much better fit between intents and behaviors, which in turn establishes a much better way to connect with SMBs with relevant and timely messaging that increase conversions and help drive revenue growth.
Armed with these insights and data assets of a next-generation data solution, the conversion rates and sales lifts can achieve double digit increases versus traditional approaches. Intelligent data management solutions tie together Client Relationship Management (CRM) and Marketing Automation (Martech) databases with other third party data to develop a platform for staging a single view of the customer. Intelligent platforms perform a set of interrelated services including matching and duplication analytics, ingests new data, and provides analytic, visualization and reporting tools.