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An Empirical Study on Data-Driven Marketing for enabling better CRM in B2B

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Journal of the Maharaja Sayajirao University of Baroda
ISSN :0025-0422
A STUDY ON DATA-DRIVEN MARKETING FOR ENABLING BETTER CRM IN B2B
INDUSTRY

Dr. Sivakami R, Associate Professor and Coordinator Department of Post Graduate Studies School
of Commerce Mount Carmel College Autonomous Bengaluru. [email protected]
Ms. KJ Abinaya, M.Com International Business Mount Carmel College Autonomous Bengaluru

ABSTRACT
Problem:
In the evolving landscape of the Business-to-Business (B2B) industry, the integration of data-driven
marketing strategies for enhancing Customer Relationship Management (CRM) remains a critical
challenge. Despite its potential benefits, B2B companies encounter obstacles in effectively
implementing data-driven marketing initiatives to optimize CRM practices.
Purpose:
This study aims to address the gap in understanding the current state of data-driven marketing in the
B2B industry so as to identify key factors influencing the success of such initiatives and evaluate the
effectiveness of data-driven marketing in improving CRM. By uncovering insights into these areas,
the research seeks to provide actionable recommendations for B2B organizations to enhance their
CRM strategies through data-driven marketing approaches.
This study seeks to illuminate the intricate interplay between data-driven marketing and CRM in the
B2B industry through a meticulous exploration of adoption levels, influential factors, and the ensuing
challenges, the research aims to provide strategic insights for B2B companies striving to enhance their
CRM practices.
Methodology:
A structured questionnaire survey method is employed to collect data from a diverse sample of B2B
companies across the apparel sector. The questionnaire is being designed to assess the level of adoption
of data-driven marketing strategies, identify influencing factors such as data quality, organizational
culture, and technological infrastructure, evaluate the effectiveness of data-driven marketing in
enhancing CRM practices, and examine the challenges encountered during implementation. The data
collected through the questionnaire survey will be analysed using statistical techniques (both
descriptive and inferential) to draw meaningful conclusions and insights.
Findings:
The study's findings are expected to shed light on the current state of data-driven marketing adoption
in the B2B industry, uncover key factors influencing the success of initiatives, evaluate the
effectiveness of data-driven marketing in improving CRM, and identify challenges faced by B2B
companies in implementation.
Keywords: Data-driven marketing, B2B industry, CRM, Apparel sector , Marketing strategies, Data
Analytics.

BACKGROUND OF THE STUDY

In the dynamic B2B landscape, integrating data-driven marketing is pivotal for company success. This
research assesses the current state of data-driven marketing in B2B, examining alignment with industry
trends. Key factors influencing success, including data quality, organizational culture, and
technological infrastructure, are crucial aspects. Unraveling these factors contributes to understanding
the intricacies of implementing data-driven strategies. As B2B entities adopt data-driven marketing for
CRM, challenges arise. This study explores these challenges, evaluating their impact on seamless
implementation. Identifying and understanding these hurdles offers valuable insights for companies
navigating the complex realm of data-driven marketing for enhanced customer relationships.
INTEGRATION OF DIGITALISATION IN B2B INDUSTRY
Digitalization in B2B practices is reshaping transactions, partner engagement, and operations through
online presence, e-commerce, and digital marketing. Data-driven decision-making is pivotal,
impacting procurement, supply chain, and CRM systems, enhancing customer service. Predictions

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suggest 80% of B2B sales will be digital by 2025. Omnichannel experiences are crucial for digitally
native demographics. Composable commerce enables flexible platforms, while rising investments in
data-driven marketing emphasize search and performance channels, with evolving engagement
landscapes emphasizing real-time communication.
DATA-DRIVEN MARKETING
Data-driven marketing revolutionizes traditional methods through systematic data collection and
analysis. Marketers utilize advanced analytics to personalize campaigns based on audience insights,
enhancing engagement and relevance. Automation streamlines tasks for efficient communication,
while predictive analytics enables proactive strategy adjustments. Crucially, meticulous ROI
measurement provides insights into campaign effectiveness, prioritizing informed decision-making
and adaptability for engaging audience connections.
STRATEGIES OF DATA DRIVEN MARKETING
Data-driven marketing employs customer segmentation, personalization, and behavioural targeting to
enhance effectiveness. Segmentation categorizes audiences, while personalization tailors’ content and
ads. Behavioural targeting adapts messages based on actions, aided by predictive analytics for lead
identification. Automation streamlines communication, and A/B testing optimizes strategies. Cross-
channel integration and customer journey mapping ensure cohesive experiences. Real-time analytics
allows immediate adjustments, and data privacy compliance builds trust. Essential tools like Google
Analytics, HubSpot, Semrush, and Mixpanel expedite data analysis, empowering informed decision-
making and optimized performance in the dynamic digital landscape.
INTEGRATION OF DATA-DRIVEN MARKETING IN B2B
The rise of data-driven marketing in B2B operations signals a transformative shift, with predictions
indicating 80% of sales occurring digitally by 2025. Prioritizing omnichannel experiences, B2B firms
are embracing e-commerce, with 86% of clients favouring online transactions. Data-driven strategies
are imperative for understanding customer behaviour, leading to significant conversion rate boosts and
revenue increases. Strategic investments in B2B marketing technologies underscore the shift towards
performance-driven channels, shaping a more agile and customer-centric landscape.
CUSTOMER RELATIONSHIP MANAGEMENT
Customer Relationship Management (CRM) integrates strategy and technology to optimize customer
interactions, fostering satisfaction and loyalty while driving business growth. It centralizes customer
data, aids in lead management, automates sales processes, and facilitates targeted marketing
campaigns. CRM is crucial for sales, marketing, and customer service alignment, ensuring a customer-
centric focus for organizational success.
COLLABORATION OF DATA DRIVEN MARKETING TO ENHANCE CRM
Data-driven marketing seamlessly integrates with Customer Relationship Management (CRM),
revolutionizing customer interactions. By analysing customer data, businesses craft personalized
marketing messages through segmentation and targeting. Predictive analytics anticipates future
behaviours, enabling proactive engagement. Automation triggers campaigns based on specific actions,
strengthening CRM initiatives. Comprehensive customer journey mapping optimizes each stage, while
integrating feedback enriches CRM strategies. Data-driven dynamic content and A/B testing refine
messaging iteratively. Crucially, this symbiotic relationship allows businesses to measure ROI,
providing clear visibility into campaign effectiveness and CRM success. Beyond automation, data-
driven marketing reshapes customer relationships, offering insights into behaviours and preferences,
enhancing satisfaction, loyalty, and sustainable growth. For a customer-centric strategy in today's
business environment, the integration of CRM and data-driven marketing is revolutionary, guiding
individualized encounters, honing tactics, and navigating impact for consistent expansion and a robust
stance in a dynamic marketplace.

REVIEW OF LITERATURE
• (Torpo, 2023) The author examines data-driven customer insight in B2B service development,
emphasizing its direct and indirect benefits, including continuous insight generation and efficient

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customer integration. Conducted through qualitative research with technology experts, it proposes a
theoretical model for enhancing B2B service development.
• (Jiwat Ram, 2022) This study investigates the slow adoption of big data analytics (BDA) in
B2B organizations through a literature review. It proposes a four-category classification scheme for
BDA adoption needs and aims to enhance understanding of its imperative for business efficiencies in
the B2B sector.
• (Bita KAZEMI, 2023) The analysis revolves around the relationship between technology
readiness, AI-based CRM adoption, and corporate social responsibility (CSR) in Iran's auto parts
supply industry. Findings from a survey of 247 managers indicate a positive impact of technology
readiness and AI-driven CRM on CSR advancement.
• (Piotr Gaczek, 2023) This study examines how negative emotions towards AI impact
collaboration reluctance in B2B CRM. Three experiments involving over 700 managers suggest that
explainable AI (XAI) mitigates this reluctance. Implementing XAI in CRM enhances relationship
establishment and growth with commercial customers, addressing the complex dynamics of AI,
emotions, and CRM in B2B settings.
• (Muhammad Sabbir Rahman, 2023) This investigation the impact of technology readiness
in B2B firms on IT capability, AI-CRM, and relationship performance. Utilizing primary data from
217 samples, it reveals positive relationships between technology readiness, IT capability, and AI-
CRM. The study emphasizes the mediating role of IT capability and the moderating influence of
industry dynamism.
• (Taina Eriksson, 2023) This study delves into organizational capabilities for Data-Driven
Innovation (DDI) in industrial firms, focusing on technological and marketing aspects. Qualitative
analysis of six multinational B2B companies reveals challenges in developing marketing capabilities
for DDI, emphasizing the importance of customer involvement and articulating value propositions.
• (Albérico Travassos Rosário, 2023) The author has conducted a systematic literature review
and bibliometric analysis, focusing on data-driven marketing's benefits and challenges. It emphasizes
leveraging consumer and market data for strategic decision-making, encouraging technology adoption
for competitive advantage. Customer data analysis enables customer-centric strategies, enhancing
experiences and relationships.

PROBLEM STATEMENT
While there is a growing recognition of the transformative power of data-driven marketing in the B2B
industry, there remains a lack of empirical understanding regarding the specific challenges faced by
organizations in effectively integrating data-driven approaches to enhance CRM. This study aims to
identify and analyse these challenges, exploring the impact of data-driven marketing on CRM
outcomes in the B2B domain and providing actionable insights to bridge the existing gap between
theoretical acknowledgment and practical implementation.

RESEARCH GAP
Proposed research in data-driven marketing for apparel B2B aims to fill literature gaps by exploring
sector-specific challenges, assessing success factors' influence, and examining CRM impacts. Insights
will guide academics and practitioners in effective strategy implementation.

RESEARCH METHODOLOGY
RESEARCH DESIGN:
Exploratory research aims to deeply understand a novel topic, establishing a foundation for further
exploration. Its goal is to explore the problem and surrounding aspects without drawing conclusions.
This approach helps researchers choose suitable designs and identify crucial variables for analysis.
SOURCE OF DATA:
Primary data: The data was collected electronically through google form questionnaires.
Secondary data: The data was collected through published papers, official journals, government
websites, newspapers, articles and magazines.
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DISCUSSION AND ANALYSIS
Towards the satisfaction of Objective 1: To assess the current state of data-driven marketing in
the B2B industry.
Table 1
Table showing the implementation of data-driven marketing strategies in the B2B industry.

Source: Primary Data

Interpretation: 59% of the employees believe that the company is actively implementing data-driven
marketing strategies in the B2B industries, out of which, 13.1% strongly believe in the same. While,
27.9% of the employees are neutral that the data- driven marketing strategies are being actively
implemented. And only 8% of the employees believe that B2B industry doesn’t actively implement
data-driven strategies.
Inference: The prevailing number of surveyed employees believe that the B2B industries are actively
implementing data-driven marketing strategies. According to the study of Muhammad Sabbir
Rahman, 2023 influence of Business-to-Business (B2B) firms’ technology readiness on information
technology capability and artificial intelligence-based customer relationship management (AI-CRM)
and finally, on relationship performance and social sustainability performance. Balakrishna Grandhi,
2021 concluded that; Marketers need to harness big data by engaging in data driven marketing (DDM)
to help organizations choose the “right” customers, to “keep” and “grow” them and to sustain “growth”
and “profitability”. This research examines DDM adoption practices and how companies can aim to
enhance shareholder value by bringing about “customer centricity”.
Table 2
Table showing that B2B organizations leverage data analytics to make informed marketing
decisions.

Source: Primary Data

Interpretation: Most of the employees believe and strong believe (51%) that the B2B organizations
leverage data-analytics to make informed marketing decisions, whereas 29% of the employees choose
to take a neutral stand on it. Around 20% of the employees do not believe that B2B organizations
leverage data-analytics to make informed marketing decisions.
Inference: A majority of the employees believe that data-analytics are being leveraged by B2B
organizations to make informed marketing decisions. Jiwat Ram, 2022 concluded in his study which
revolved around ‘executuve decision making’, ‘marketing decisions and cutomer journey’, and ‘data
analytics with its relation to Customer experience optimization’ proved that the scope of decision-
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making to utilise data analytics to realign marketing investments appropriately. In doing so, marketing
decisions have a lower risk factor with marketing investment management and a higher quality of
performance measurements from previously analysed marketing campaigns. In the study of Ella
Alumius Cederstav, 2020 the findings indicate that implementing data analytics and data driven
processes require resources that connects IT with the core business. If successful, implementation of
data analytics can lead to improved business performance. Specifically, for B2B marketing and sales
this can result in improved customer relationships, more accurate and valuable leads and increased
brand awareness.
Both interpretations suggest that a significant portion of employees believe that B2B organizations are
actively utilizing data-driven strategies in their marketing decisions. Interpretation 1 emphasizes that
59% of employees believe in the active implementation of such strategies, while Interpretation 2 states
that a majority (51%) strongly believe in leveraging data-analytics for informed marketing decisions.
Additionally, Interpretation 1 highlights the importance of data-driven marketing in enhancing
shareholder value and customer centricity, citing research by Muhammad Sabbir Rahman, 2023 and
Balakrishna Grandhi, 2021. On the other hand, Interpretation 2 references studies by Jiwat Ram,
2022 and Ella Alumius CederstaV, 2020 which suggest that data analytics play a crucial role in
improving business performance, customer relationships, and brand awareness in the B2B context.
Towards the satisfaction of Objective 2: To identify key factors influencing the success of data-
driven marketing initiatives in B2B.
Table 3
Table showing that the quality and accuracy of data used in B2B data-driven marketing
initiatives impact the success of data-driven marketing in organisations.

Source: Primary Data

Interpretation: 69% of the employees agree that the quality and accuracy of the data used in B2B
data driven marketing initiatives impact the success of data-driven marketing in the organizations,
while 28% of the employees feel neutral about the same. And 3% of the employees disagree that the
accuracy of the data doesn’t really impact the success of the Data-driven marketing in B2B
organizations.
Inference: A dominant figure of the employees agree that the quality and the accuracy of the data used
in B2B data-driven marketing initiatives impact the success of data-driven marketing strategies in the
organization. Ananda Budi Subagja, 2022 concluded that High-quality and accurate data are vital for
successful B2B data-driven marketing. They enable precise targeting, personalized campaigns,
informed decision-making, enhanced customer experiences, cost efficiency, compliance, and trust-
building. Such data ensures effective resource allocation and optimization, leading to improved ROI
and customer satisfaction. According to the findings of Debra Zahay, 2014, it provide a signal to
marketing organizations that want to connect with their customers that data quality must be a strategic
priority, with appropriate processes in place to manage data at every touch point.

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Table 4
Table showing that the availability of advanced technological infrastructure influences
the success of data-driven marketing initiatives in organizations.

Source: Primary Data

Interpretation: About 62% of the employees agree and strongly agree that availability of advanced
technological infrastructure influences the success of data-driven marketing initiatives in
organizations.15% of the employees disagree on the same and 23% of the employees take a neutral
stand on that the availability of advanced technology influences the success of data-driven marketing
initiatives in the B2B organisations.
Inference: Heli Hallikainen, 2020 concluded that advanced technological infrastructure plays a
pivotal role in shaping the success of data-driven marketing initiatives within organizations. It enables
efficient collection, storage, processing, and analysis of data, empowering marketers to derive
actionable insights, personalize campaigns, optimize targeting, and enhance overall marketing
effectiveness. This infrastructure is essential for staying competitive and adapting strategies to meet
evolving market demands.
Both interpretations highlight the critical role of factors such as data quality and technological
infrastructure in the success of data-driven marketing initiatives within B2B organizations.
Interpretation 1 indicates that a significant majority (69%) of employees agree on the importance of
data quality and accuracy, emphasizing their impact on targeting precision, personalized campaigns,
informed decision-making, and overall marketing effectiveness. This aligns with research by Ananda
Budi Subagja, 2022 and Debra Zahay, 2014, underlining the strategic priority of data quality
management for effective customer engagement and trust-building.
Interpretation 2 underscores the significance of advanced technological infrastructure, with 62% of
employees agreeing that its availability influences the success of data-driven marketing initiatives.
This infrastructure facilitates efficient data collection, storage, processing, and analysis, enabling
marketers to derive actionable insights, personalize campaigns, and optimize targeting. Heli
Hallikainen, 2020 research supports this, emphasizing the pivotal role of advanced technology in
maintaining competitiveness and adapting strategies to meet market demands.
Towards the satisfaction of Objective 3: Evaluate the effectiveness of data-driven marketing in
improving CRM in the B2B sector.

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Table 5
Table showing that Data-driven marketing led to more meaningful and long-lasting
relationships with clients.

Source: Primary Data

Interpretation: 65% of the employees agree that data-driven marketing of B2B organizations led to a
more meaningful and long-lasting relationship with clients, while 25% of them take a neutral stand on
the same. 9% of the employees disagree that the DDM doesn’t lead to a meaningful and long-lasting
relationship with their clients.
Inference: The predominant number of the employees agree to that the DDM has allowed B2B
organizations to have a more meaningful and long-lasting with their clients through Data-driven
marketing. Albérico Travassos Rosário, 2023 concluded that Data-driven marketing and
communications have gained popularity as companies and marketers prioritize leveraging consumer
and market data to strategize and make informed decisions. Adopting and integrating various
technologies into the company's systems is crucial for companies aiming to achieve a sustainable
competitive advantage. By analyzing and interpreting customer data, companies can implement
customer-centered marketing initiatives that enhance their experience and satisfaction with the brand,
thus strengthening company-customer relationships. Len Tiu Wright. 2019 contributed to the
understanding that big data’s role in business innovation, specifically in business-to-business
organizations and where their innovation can transform customer experience at the end of the value
chain, i.e., with final consumers.
Table 6
Table showing Data-driven marketing strategies enable organizations to anticipate and address
customer concerns or issues proactively.

Source: Primary Data

Interpretation: According to the data collected, 70% of the employees agree (51%) and strongly agree
(20%) that data-driven marketing strategies enable organizations to anticipate and address customer
concerns proactively. And only 5% of the employees disagree to the same. About 25% of them are
neutral about how organizations anticipate and address customer concerns through marketing
strategies.
Inference: The prevailing number of employees substantially agree that data-driven marketing
strategies enable the organizations to proactively address the customers concerns. According to the
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study of Alex D. Stein, 2013 CRM data is among the most important and comprehensive information
available to management in many organizations particularly the case in business-to-business
marketing, where the firm's extended working relationship with its customers is frequently crucial for
the maintenance of a healthy business. The results have proved the use of valuable historical
information for establishing competitive strategies and the related programs and policies for retaining
and growing the firm's customer base and other elements of the firm's value delivery network. Michael
Rodriguez, 2011 concluded that CRM technology significantly impacts marketing success by
enhancing collaboration among sales professionals, improving sales performance, and increasing sales
effectiveness through data-driven decision-making. It also fosters collaboration across the
organization, promoting a cohesive approach to marketing and sales activities.
Both interpretations highlight the positive impact of data-driven marketing (DDM) strategies on
fostering meaningful, long-lasting relationships with clients and proactively addressing customer
concerns within B2B organizations. Interpretation 1 indicates that a significant majority (65%) of
employees agree that DDM has contributed to stronger relationships with clients, underscoring the
importance of leveraging consumer and market data for informed decision-making and customer-
centric marketing initiatives. Research by Albérico Travassos Rosário, 2023 and Len Tiu Wright,
2019 supports this, emphasizing the role of data analysis in enhancing customer experience and
satisfaction, thus strengthening company-customer relationships.
Interpretation 2 reinforces the notion, with 70% of employees agreeing that data-driven marketing
enables organizations to anticipate and address customer concerns proactively. This aligns with
findings by Alex D. Stein, 2013 and Michael Rodriguez, 2011, suggesting that CRM data and
technology significantly impact marketing success by facilitating data-driven decision-making,
improving sales performance, and fostering collaboration across the organization.

CONCLUSION & IMPLICATIONS FOR FUTURE RESEARCH

This empirical study on data-driven marketing in the B2B industry highlights significant adoption of
data-driven strategies, emphasizing the departure from traditional approaches. Key influencing factors
identified include data quality, organizational culture, and technological infrastructure, essential for
maximizing marketing effectiveness. The study demonstrates a notable improvement in CRM within
B2B companies adopting data-driven strategies, suggesting their transformative potential in enhancing
customer relationships. However, challenges such as data quality issues and organizational resistance
must be addressed for effective implementation. Future research could explore emerging trends and
longitudinal impacts, while cross-industry comparisons could provide valuable insights. Managerially,
prioritizing investments in data quality, fostering a data-driven culture, and addressing implementation
challenges are crucial for B2B organizations aiming to drive success in data-driven marketing and
CRM, ultimately ensuring competitiveness and growth in the digital era.

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