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Growing Your Database Responsibly With Third Party Data


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Growing Your Database Responsibly With Third Party Data

  1. 1. Growing Your DatabaseResponsibly with Third Party DataDavid Fowler: CPO, Act-On SoftwareDave Scott: Founder & CEO Marketfish | @ActOnSoftware | #ActOnSW
  2. 2. Today’s Presenters Dave Scott David Fowler Founder & CEO, Marketfish CPO, Act-On Software | @ActOnSoftware | #ActOnSW
  3. 3. About Dave Scott CEO & Founder of Marketfish • 20 years experience in lead gen marketing • Head of Marketing at 3 public companies • MBA in Marketing from Wharton Author of “The New Rules of Lead Generation: Proven Strategies to Improve Marketing ROI” • Focuses on the 7 best lead gen strategies • Big focus on buying data • Out in Q1 2013 | @ActOnSoftware | #ActOnSW
  4. 4. About Marketfish Largest data marketplace in the US • 300M email records • 500M postal records Fully automated • Self service • Data in minutes Servicing over 600 customers • Ranging from small startups to Fortune 500 | @ActOnSoftware | #ActOnSW
  5. 5. Today’s Agenda• Generations of list fulfillment• How to grow customers• Why 3rd party data?• Pros & Cons• Questions to ask• Warning signs• Best practices• Case study• Wrap up – Q&A | @ActOnSoftware | #ActOnSW
  6. 6. Generations of List Fulfillment1. Broker | Manager | Service Bureau | Database2. Broker | Manager | Database3. Broker | Database4. Broker | Approval | @ActOnSoftware | #ActOnSW
  7. 7. How To Grow Customers Most companies have a mandate to grow leads and customers Only 7 ways to do that • Display • SEM • Social • Trade Shows } • Cold Call • Email – Requires purchasing outside data • Direct mail | @ActOnSoftware | #ActOnSW
  8. 8. Why Buy 3rd Party Data Sales team requires a lot of warm leads • Company growing quickly • Sales team heavily relies on marketing But tough to keep up with demand • Current house lists isn’t large enough (or isn’t growing fast enough • Organic acquisition strategies aren’t sufficient to meet need Renting lists feels too risky | @ActOnSoftware | #ActOnSW
  9. 9. Should You Buy Lists?Pros Cons Buy targets based on You are probably buying ideal customer non-permissioned data Market to this list Most data is old and alongside house list inaccurate You get a one You don’t know who to year, unlimited use trust Pay for what you use | @ActOnSoftware | #ActOnSW
  10. 10. Questions to Ask How is the data collected? • Good answer: through a permission based process • Bad answer: scraped using an internet crawler How is the accuracy verified? • Good answer: phone verified quarterly • Bad answer: It’s not What data elements do I get? • Good answer: full record include geography and demographics • Bad Answer: Just email or postal address Is there a return policy if the data is bad? • Good answer: Yes, unconditional • Bad answer: no or limited to proven bad records | @ActOnSoftware | #ActOnSW
  11. 11. Warning Signs Not a US-based business The business is located in Florida Willing to sell you 1 million names for $1.00 The file is large, blind and compiled | @ActOnSoftware | #ActOnSW
  12. 12. Best Practices Ask around • Your friends are also buying names • Bad news travels quickly Test before you buy • Small batches • Know your success measurements The more automated the better • Platforms are more efficient than people • The more automation, the less errors | @ActOnSoftware | #ActOnSW
  13. 13. Case Study• Reid Business Supply • #1 supplier of industrial parts • Marketing team of 4• Started with 3 vendors • Narrowed to one• Started with test of 10,000 records • Tested in small batches • Measured quality and ROI with each test• Grown to 100,000 records per quarter | @ActOnSoftware | #ActOnSW
  14. 14. Summary Buying data is an excellent way to grow your leads or in-house database Pick a good partner, one that will work with you and support your goals Test, test, test | @ActOnSoftware | #ActOnSW
  15. 15. Wrap Up• Third party data can be a successful strategy in building your database• Ensure you use a reputable vendor• If in doubt shop around• Look at all the T’s and C’s for your comfort• Do your due diligence – ask for references• Enjoy the ROI increase! | @ActOnSoftware | #ActOnSW
  16. 16. Q&A• David Fowler • Chief Privacy & Deliverability Officer •• Dave Scott • Founder & CEO • | @ActOnSoftware | #ActOnSW