In order to boost email marketing success, a new report suggests that monitoring industry competitors is essential.
“The Value of Competitive Intelligence” report published by eDataSource and The Relevancy Group revealed that the majority of marketers (91 percent) think it’s important to use tools that provide engagement and performance data of their competitors’ email marketing programs.
About 40 percent said that it’s “significantly important” to use these tools. Signing up for competitors’ newsletters and participating in industry associations were also noted as commonly utilized tactics.
“Most marketers that invest in this endeavor spend $125,000.00 dollars annually,” wrote the authors of the report. “This approach across all formal and informal tasks may include things such as conferences, association and CIA investments. Clearly, marketers that are not investing in this area are likely to miss out on optimization opportunities and be left behind their competitors.”
Getting Ahead of the Competition in B2B Marketing
In terms of gaining an edge on the competition, B2B marketers have also seen positive results through predictive marketing. A survey from Forrester Consulting discovered that predictive marketers are 2.9 times more likely to report revenue growth rates that are higher than the industry average, in comparison to their counterparts.
B2B predictive marketers are also 2.1 times more likely to command leadership across all service and product categories and 1.8 times more consistent in terms of exceeding company goals for marketing value contribution, compared to retrospective marketers.
In terms of tools, predictive marketers are more than twice as likely to use account-based marketing resources.