How Data as a Service can make your campaigns more successful - Dun and Bradstreet
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Many organisations have invested in technology to help with their lead generation programmes. However, this often has not delivered the anticipated benefits and as a result, a high proportion of marketing generated leads are not worked by sales, wasting valuable budget. Sales and marketing alignment seems as far away as ever. New Data as a Service (DaaS) based solutions allow you to integrate real time external data, directly into your marketing and sales automation systems to transform your campaigns, access insights not previously available and generate the right leads for your business. In this session you will learn: What DaaS is and how it works How to generate the right leads to drive sales and marketing alignment Know all about your inbound leads, in an instant Tailor your conversations to accelerate the sales cycle How you can link social media data into your CRM
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How Data as a Service can make your campaigns more successful - Dun and Bradstreet
- 1. How Data as a Service can make your campaigns more successful Neil Hudson
- 2. Data is a commodity
- 3. Do commodities have a value?
- 4. Do commodities have a value?
- 5. Do commodities have a value?
- 9. LOW RES
- 10. Data is a precious resource
- 11. The volume and different types of data available has become overwhelming Exabytes 2,000 1,800 Exabytes Structured (1,800 Million Terabytes) 1,500 1,000 Tenfold Growth Unstructured in Five Years 500 Source: IDC 2006 2007 2008 2009 2010 2011
- 12. Is the source pure?
- 14. Technology alone is not the answer Data Entry Lack of Duplicates Data Erosion Information Bad data is the #1 cause of CRM failure 42% of CRM failures are due to bad data
- 15. Implications are costly Data Entry Lack of Duplicates Data Erosion Information Bad data is the #1 cause of CRM failure 42% of CRM failures are due to bad data Costs Insights Campaigns Leads Revenue
- 16. Purity of source is critical
- 17. D&B LOW RES
- 18. The foundation of what D&B provides is DUNSRight®, our proprietary process for transforming information into quality insight The five essential elements of insight: Global Data Entity D-U-N-S Corporate Predictive Collection Matching Number Linkage Indicators DUNSRight
- 19. DaaS
- 20. Data as a Service
- 22. The intelligence multiplier What if you could… • Identify whether the lead is something you are already working on? • Highlight the lead as an existing customer? • Determine whether you are already doing business with a different part of the group?
- 23. CRM – prospects at your fingertips Bad data is the #1 cause of CRM failure • Access to quality, accurate data for your prospect campaigns: • Build lists of prospects • Access to ‘Family tree’s’ – showing where you have existing relationships and opportunity • Look a like companies of your best customers • Add decision makers contact details • Inbuilt data quality – duplicate detection, one click record creation and data refresh • Complete customer data, segment ready • Tools to help sales close better: • Social media activity on an individual / company
- 25. Returns on Purity • Data is a precious commodity • Improved ROI on CRM and Marketing Automation investment • Tap into enormous ‘Big Data’ insights not previously available • Better more targeted campaigns and increased response rates • More higher quality leads for sales • Sales and marketing alignment • Core competence focus
Editor's Notes
- Good morning and thanks for joining me at this afternoons session. My name is x and I am x at Dun & Bradstreet UK for our sales and marketing integration solutions. For those of you not familiar with D&B, - we are a provider of business insight solutions aimed at customers who want to grow and streamline their marketing and sales operations. At the foundation of our solutions is the data we collect, aggregate and update on over 200m companies globally. In this session we will look at some of the trends impacting marketing over the last 5 years and how, paradoxically despite more data than ever, this has further misaligned sales and marketing. We will then look at how some of the latest innovation deivered via DaaS can help
- Commodities aren’t sexy Utility Boring Not particularly interesting or valuable to us
- Commodity is sometimes a dirty word. We see them as utilitiesPrice of gold has increased in the past 10 years from under $400 per ounce to over $1600 per ounce – 400% increase
- Commodity is sometimes a dirty word. We see them as utilitiesPrice of gold has increased in the past 10 years from under $400 per ounce to over $1600 per ounce – 400% increase
- To us WATER is a free utility. But what value can you place on water? When you strip away everything water is the most valuable commodity of all . .
- Water is even more valuable to us if it is clean, if we have ample supply and if we can distribute it to where we need it when we need it
- Data is ubiquitous but like water - extremely valuable And whats more the is more of it than ever before oceans of it! And it the oceans are growing every day
- And growing exponentially . . Business systems are full of data. But, where ’s the insight?
- In looking at how to improve the funnel, we can also learn a lot from the sales world, because many of the challenges faced in the funnel are already understood from CRM deployments and we can learn from this. Sales departments and CRM teams have invested heavily in developing & deploying sales automation systems with $16.5 billion spent globally on CRM in 2010 (IDC) However, an awful lot of investment has not paid back. So what have been the problems with CRM and what can we learn in our quest to improve lead handling? Fundamentally, the issues are because the technology has been seen to be the answer, the other components people, process and data have been largely ignored. For any marketers who rely on a CRM for their data and sales who have to work with this, you will recognise the issues. Sales felt so strongly about some of these issues they created a linked in discussion called Why Sales Hate CRM, which is well worth a read! Taking each in turn: Data entry – who should be responsible for this in an organisation? Data is collected on an ad hoc, inconsistent basis with different sources used. How do you know if its any good? Lack of information means you don’t have enough information to start differentiating your customers How do you prevent duplicates? Finally will erode as business and people move and change. Who keeps it fresh? Sales? This has resulted in reduced adoption and a lot of frustration with CRM, and certainly not the benefits expected The leads in your funnel can be subject to similar failures – lets not repeat the same mistakes. Especially when it demands, as we have seen, a big chunk of the budget. It’s easy to think job done with the technology or the process - needs to be supplemented with data and people to create a robust and accurate workflow which delivers real business value. We are starting to see companies giving the same importance to their data as their processes and systems with the advent of data stewardship roles.
- In looking at how to improve the funnel, we can also learn a lot from the sales world, because many of the challenges faced in the funnel are already understood from CRM deployments and we can learn from this. Sales departments and CRM teams have invested heavily in developing & deploying sales automation systems with $16.5 billion spent globally on CRM in 2010 (IDC) However, an awful lot of investment has not paid back. So what have been the problems with CRM and what can we learn in our quest to improve lead handling? Fundamentally, the issues are because the technology has been seen to be the answer, the other components people, process and data have been largely ignored. For any marketers who rely on a CRM for their data and sales who have to work with this, you will recognise the issues. Sales felt so strongly about some of these issues they created a linked in discussion called Why Sales Hate CRM, which is well worth a read! Taking each in turn: Data entry – who should be responsible for this in an organisation? Data is collected on an ad hoc, inconsistent basis with different sources used. How do you know if its any good? Lack of information means you don’t have enough information to start differentiating your customers How do you prevent duplicates? Finally will erode as business and people move and change. Who keeps it fresh? Sales? This has resulted in reduced adoption and a lot of frustration with CRM, and certainly not the benefits expected The leads in your funnel can be subject to similar failures – lets not repeat the same mistakes. Especially when it demands, as we have seen, a big chunk of the budget. It’s easy to think job done with the technology or the process - needs to be supplemented with data and people to create a robust and accurate workflow which delivers real business value. We are starting to see companies giving the same importance to their data as their processes and systems with the advent of data stewardship roles.
- So yes data is a commodity but like water - extremely valuable
- D&B’s role in the market – we collect, clean, store, and distribute data and insight to our customers
- We call this our DUNS right process
- But the location of our reservoir is changing
- This is the sales and marketing ecosystem and shows lead gen / customer lifecycle loop and how the sales and marketing systems interact We have been focused on the right hand side of this diagram, but as I said at the start, these principles can be extended to your CRM so you can control the entry of data, identify duplicates, access other opportunities and refresh the data on an ongoing basis. This makes accurate, complete data for your customers campaigns and support better conversations between sales and customers. And no more manual data entry for sales! The Analytics solution helps to ever refine your lead generation strategies by identifying your ideal customers and areas of opportunity.
- So how can you start capturing this data and make this concept a reality, without impacting the end user? We are used to using consumer address validation services when we complete online forms, but with the next generation of business data services, delivered via Data as a Service or DaaS technology, this takes the concept to the next level by providing a great deal of insight on comanies in real time What is Daas? DaaS is effectively real time data delivered via the internet into your systems and gets over the issue either not having this data available or of storing frequently changing 3 rd party data in your premises This DaaS solution can be built into your webforms and as a front end into your lead management system for your internal users to provide the same level of info capture irrespective of where the lead has come in to. Behind the DaaS platform is D&Bs global database which takes in 30,000 sources and processes1.5m updates a day to deliver information on over 200m records via the DaaS platform. An important part of this collection is linking together related companies in a family tree and we will see the importance of this later. So Lets have a look at it in action Firstly, the user will complete the form as normal, however then the company name is input, the DaaS solution will provide a list of companies that correspond to the company name Selecting the appropriate company will populate the visible fields on the form such as address, but more importantly can capture up to 90 other data points which can be transparently pulled from D&B and then sent to the required database or system with no manual intervention. One of these fields is the DUNS number, which every record in our database has and is a unique identifier which lives with a company forever, even when it is OOB. This is a key enabler in your systems and once you have this, you can unlock other information. Its important to note this doesn’t just need to apply to new leads, you can also add this insight into your existing leads you have so all leads in your funnel can benefit from this added insight The result? –‘turning the anonymous’ into detailed leads to sales or quickly start to drive the lead nurturing programmes you have in place
- What I have demonstrated is how high quality, complete data can improve your lead management processes through the decision it allows you to make. Now, via the DUNS number, comes the intelligent bit which the is possible because you can link information back to a company. When a lead is created, you will now be able to answer the following questions What if you already working on that lead? You could identify duplicate DUNS to exactly identify which companies you already have in your lead system which might prompt you to rationalise the lead. (Marketing Automation systems allow you to identify duplicates from e-mail address, but not company) Are they are an existing customer ? By comparing it against your CRM you can identify if it is and expedite the lead to sales What if you are doing business or have a lead with a different part of the group? Would that change your approach? You can identify family tree members where you have a relationship and that might, For example – prompt you to send an e-mail about how the group is already benefitting or send the lead to sales? The picture shows an Family tree application where existing customers in green and existing leads in red, allowing you to make decisions on how you interact with a company.
- Daas can be built directly into your CRM and provide benefits to marketing and sales. This helps overcome the #1 cause of CRM failure – Gartner The 2 main benefits of this are data quality and access to accurate prospect and customer data Building prospect which can be immediately imported into your CRM and assigned to a campaign, look a like companies to your best customers of the family tree of an existing customer (see diagram). The red/green is possible because we have a unique number, the DUNS number. This prevents duplicates being created and the data can be refreshed. Also 1 click onboarding And from within the CRM record, you can see an organisations or a an individuals social media channels – allowing you to pick up their interests, opinions etc