Congrats, your boss just asked you to take on the next step in your company journey—entering a new market.
It’s a big challenge! Maybe you just released a new product—who do you target? Or maybe you are trying to enter a new vertical, what marketing strategy to you start with? And then what? As companies expand, entering into a new market becomes a more prevalent challenge. Expanding your business beyond what you currently know can be scary, but also exciting. It’s like starting from scratch!
As a marketer, how do you know where to start? Sure, you could go out and buy a list of companies in your new market and spend hours and hours of your team’s time doing research, but both options rely too much on guesswork.
For the most part, you are stepping into the unknown here. Predictive marketing allows you to have a more targeted strategy than just throwing spaghetti at the wall to see what sticks. With predictive, you can have a data-backed method for selecting accounts to go after in your new market. Instead of focusing on list buys and other less-than-ideal tactics, you can rely on thousands of data signals to provide you with companies in your new market that are the right fit for your business.
Predictive Demand Generation for Market Expansion
Predictive demand generation is the practice of leveraging data from a seed list of your ideal companies to fill your top-of-funnel with the right new accounts and contacts–the ones with the highest propensity to close. In other words, in a predictive platform, you can upload a small selection of targets or current customers in your new market, and using the data similarities between those accounts, predictive marketing prioritizes your database and provides you with net-new accounts that look like your seed list.
Now, to be clear, this is not the crystal ball of marketing (we wish). These are leads that should focus your demand generation efforts, making your marketing investments in this new market more targeted and precise. Imagine spending your budget on accounts and leads that look like your best customers instead of marketing to every business out there? Your time-to-market in your new territory will be greatly reduced.
How is this possible? In the the case of EverString, we look at 20,000 different data points across 11 million B2B companies to determine similarities and significant patterns within your top accounts. We then create a data model that provides you with intel, prioritizes your database, and gives you net-new accounts—identifying the companies that are the best fit for your company in your new market.
With more of the right accounts being placed in your top-of-funnel marketing strategy, you can prove out the value of your product in this new market more quickly.
With predictive demand generation, you can add new accounts to your database that look like your ideal customer profile. It helps you understand who to target.
With predictive insights, you can see and understand what unique data points make these accounts similar, and which are the most important. This data helps guide you in creating messages that will better resonate with your target accounts.
For example, maybe you find that 30% of the target accounts in your new market are in the financial sector. You can create messaging that resonates with this unique group of accounts, and create content and unique segments so that all of your messages to this group of accounts are personalized.
With predictive segmentation, you can take the data from your predictive insights and make it actionable. By integrating with your marketing automation platform, your predictive platform makes it easy segment out your top accounts, and create custom nurture tracks based on predictive insights. You can even run advertising to these segments! Predictive segmentation helps you run more targeted and more relevant programs in your new market—streamlining your process from creating custom content to targeted distribution.
YOU GOT THIS. This new market has nothing on you or your team.