Data Analytics Paves the Way for Smarter B2B Bitcoin Marketing

Marketing is key for B2B Bitcoin businesses. There’s no question that cryptocurrency adoption in the B2B sphere is on the rise, as 82.2% of companies surveyed have switched to using crypto for B2B payments, and 64.9% use it to pay vendors. However, there’s also no question that B2B Bitcoin businesses still have to overcome trepidation from their would-be partners.

Even though Bitcoin is far more established as a currency than in 2009, B2B customers present many crypto marketing challenges. Lack of knowledge, wavering currency value, security concerns, a lack of regulations, and a fundamental deficit of trust are all barriers to entry that Bitcoin marketers must push through. A comprehensive marketing strategy powered by in-depth analytics is absolutely critical to help these customers overcome their trepidation and partner with your organization.

In this article, we’ll cover the role of data analytics in providing powerful marketing insights, the pitfalls that have entrapped other campaigns, and how to create a comprehensive marketing strategy that educates, informs, and persuades.

Data Analytics and Targeted Marketing

Firstly, you have to appropriately audit how prepared your organization is to fully harness the potential of “big data.” Big data is the term coined to describe an era where data is prevalent in volume, detail, and accessibility. While the augury of said data was formerly restricted to a small group of technologically advanced organizations, democratizing data has made gaining a high level of insight possible for organizations of all sizes.

But when we say “high level of insight,” what do we mean? Here are just a few key areas of insight you can explore by learning how to read and properly utilize analytical data:

Market overviews: Leverage historical data to predict how the market will shift, taking advantage of market boons and taking measures to protect yourself when the market turns sour.
Competitor analysis: Understand what your competitors are doing right and wrong, staying abreast of the trends they’re taking advantage of, markets they’re targeting, and any technique they’re using to stay ahead.
Customer behavior: Grasp what your B2B consumers are looking for in a potential partner, and tailor-make your marketing materials to target segments of your audience.

If you’re unsure of how to take advantage of the information you have, you may need to find a new way to arrange it instead of attempting to wade through large pools of rough data yourself. Flowcharts represent key statistics visually, making it easier to communicate trends and collaborate with coworkers on a campaign strategy. They are ideal for depicting complex strategies in a streamlined, simple manner and can be used to chart multi-pronged or multi-segmented marketing approaches.

Supporting Analytics With Thought Leadership

When building your campaign, create a variety of assets designed to educate, inform, and inspire. Infographics and blogs appeal to visual and short-form learners or executives on the go; They also pair well with email and social media marketing efforts. White papers should be rarely produced and should be ideated around taking a thoughtful approach to an important topic – Bitcoin’s global adoption and where your organization expects it’ll be in five to ten years.

You can leverage analytics to source topics for these assets, gaining insight into the topics and themes that your audience is interested in, as well as their preferred method of delivery – graphics, white papers, or blogs, for example.

Avoiding Marketing Mistakes With Data Analytics

However, as you’re charting your B2B Bitcoin marketing strategy, you’ll want to make sure that you don’t accidentally derail your campaign before it takes off. Marketing campaigns must effectively use analytics and call-to-actions to inspire further engagement; neglecting to do so can severely limit your campaign’s effectiveness.

Fortunately, you don’t have to learn about these pitfalls the hard way. Here are a few common marketing mistakes marketers can make that hinder – or outright nullify – their efforts.

Neglecting a call to action (CTA): In all of the marketing materials you release, you should have some option for the consumer to either contact sales or access more of your material. Failing to provide one or both of these follow-up options means that even if a consumer is close to becoming a lead, they have no means of fulfilling that ambition.
Reading the weather, not data: Instinct and experience are no replacement for cold, hard statistics. If you have a concern, research market trends or analyze patterns in your customer data. Beware that guesswork, even if informed, is a game of Russian roulette played with your company – you never really know if you’re making the safe decision.

The latter emphasizes the importance of analytics in any successful marketing campaign. Large companies like Progressive, Netflix, and Allrecipes have invested time and effort into expanding their analytical capacity, using insights from data to craft compelling, targeted marketing campaigns.

For marketing a product like Bitcoin, getting insight into each audience segment, their goals for the coin, and how they interact with organizations like yours is key to constructing an effective campaign.

In today’s data-driven world, pulling insights from the bottomless data sea is key to success. Use the information sourced from analytics to develop content in tune with customers’ expectations, and you’ll be connecting with customers who understand the value of the service you provide.