Despite proven benefits, less than half of marketers (45%) currently execute behavioral marketing strategies, according to Forrester and Silverpop survey findings.
Behavioral marketing is defined as the collection of behavioral data and consolidation into a single, integrated database. Surveyed marketers believe return on marketing investment (44%) and customer satisfaction/loyalty (42%) are the two main benefits that can be realized from taking specific actions with prospective customers based on their behaviors.
These beliefs seem to be accurate, as the results indicate that active B2B behavioral marketers attribute 34% of their sales pipeline to behavioral marketing, nearly 10% higher than their peers (26%). The research also shows that while customer data is the lifeblood of effective marketing automation, consolidating this data into a single database makes it actionable in a very efficient manner.
Lori Wizdo, principal analyst with Forrester Research, speaks about marketing automation’s role in customer behavior marketing in a recent press release. "Marketing automation captures buyer behavior – the greatest untapped asset that marketers have. Marketing automation lets us know which specific content buyers are consuming. Marketing automation tells us where customers are finding our content. Marketing automation tells us what they do next. With this data, and the knowledge it drives, marketers can provide targeted content and offers which serve to both improve buyer engagement and increase conversion rates."
Behavioral marketing appears to have a fairly significant impact on B2B marketing’s bottom line and customer satisfaction according to these survey results. However, the majority of marketers are currently failing to collect behavioral data and consolidate it into an integrated database to drive action.