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Data Marketing Show One Source Final
- 1. Increasing Marketing ROI Through Data Enhancement & CRM Integration Karim Iskandar, VP International, OneSource Information Services Contact Us: +44 (0) 207 382 8800 [email_address]
- 3. Instantly Become a Genius! BEFORE AFTER
- 4. Instantly Become a Database Marketing Genius! BEFORE AFTER
- 5. Poor Data Quality Directly Affects Bottom-Line Performance HINDERING NEW BUSINESS GENERATION According to QAS (an Experian company): - 75% of companies admit that potential revenue is lost through missed opportunities from not profiling customer and prospect databases as well as they could due to data quality issues According to Sirius Decisions: - Organisations with an early-phase data strategy can expect a ~25% lift in conversion rates (inquiry to marketing qualified lead) Research Shows Significant, Measurable Impacts—In Both Direct and Opportunity Costs— Associated with Failure to Actively Manage Data Quality IMPACTING CUSTOMER RETENTION & BRAND REPUTATION … poor-quality customer data leads to significant costs such as higher customer turnover, excessive expenses from customer contact processes like mail-outs, and missed sales opportunities. Gartner Research Contact Us: +44 (0) 207 382 8800 [email_address]
- 6. Where Does the Data Go Bad? At What Points in the Lifecycle Does Data “Go Bad”? How Can You Improve ROI by Addressing These Problems? Contact Us: +44 (0) 207 382 8800 [email_address]
- 15. Compiled Data Data assembled from directories and proprietary databases including Infogroup’s best-in-class databases and data licensed from third-party content providers. Editorial Content Content developed by editors tapping into news feeds and research reports to review and enrich information. Web Mining Information automatically mined from corporate websites, blogs and other publicly accessible sources of Internet content. Social Media Content contributed by users through social networking sites, user contributed data exchanges and self-publication. LiveContent fuses data from multiple sources, removes duplicates, and synthesizes the information down to the data-element level. For example, it can pull a bio from one data source, a job title from another, and an email address from a third source, combining these into one consolidated contact. OneSource’s Approach to Ensuring Data Quality: The LiveContent Platform. The LiveContent Platform blends together the best content from more than 50 data suppliers and thousands of information sources across the full spectrum of business information: compiled data, editorial content, information mined from web sites and social and new media data. Contact Us: +44 (0) 207 382 8800 sales@onesource.com
- 16. Just for Attendees Contact Us: +44 (0) 207 382 8800 [email_address]
Editor's Notes
- In this slide 1) gathering => should use standardised fields, progressive forms, gather as much information as possible-balancing form drop-off with lead quality; 2) integration => is data going into CRM? How is it cleaned/verified before being included? Is data entered manually? Introduces errors; 3) enhancement => ask less, add info later is a strategy for increasing conversion without sacrificing lead prioritisation/conversion; 4) deployment—do you have sufficient information to segment your campaigns/marketing activity – ensuring more targeted messaging and higher conversions?; 5) cleansing & maintenance => do you scrub out bad data? Update customer data? Properly integrate new contacts into existing accounts (avoiding proliferation of duplicate accounts)?
- Good quality data provides the building blocks upon which vital insight can be derived – data should be central to all customer and prospect communications, whether this be a sales call, direct mail or email campaign With clean comprehensive data, sales and marketing professionals can be confident that they are spending time concentrating on their ‘sweet spots’. The 80:20 principle – 20% of your customers are worth 80% of revenue. It is much easier to sell to an existing customer than a prospect so we should therefore be focusing on those prospects that have the same attributes as our best customers. With good quality data, you can concentrate on making lower cost sales first! The most recent changes should be reflected in your database to ensure your data is unrivalled. In an article published in May 2010 in B2B Marketing by Max Firth, Client Director for PH, explains that the specific impact of recession on the rate of data decay is a key issue for B2B marketers. As the speed of which a company’s fortunes can change increases, the frequency of revisions needs to keep up. Companies entering insolvency or downgrading to smaller premises means models need to be more effective in identifying changes. Companies who supply and update B2B data need to continue developing their models with the aim of providing clients with the most up-to-date information available and an ultimate goal of daily or even real-time updates.
- Sweet spots. We’re all familiar with the 80:20 principle – 20% of your customers are worth 80% of revenue. It is much easier to sell to an existing customer than a prospect so we should therefore be focus on retaining customers and targeting those prospects that have the same attributes as our ‘best’ customers. Minimise marketing wastage – there is nothing to be gained and everything to be lost from sending to incorrect addresses, gone-aways, deceased and incorrect contacts. Deliver the right message to the right people with the right offer at the right time. Tailor your message /offering based around specific events in your target’s business, their processes and in line with structural changes. Dirty data could cost you your reputation. Not keeping up with organisational changes in clients or prospects businesses leaves you looking out of touch and disorganised. Incorrect data can cost your clients dearly – sending sensitive data to incorrect addresses leaves them vulnerable to fraud, etc.
- ‘ Giving lawyers, information professionals and other staff members exactly the information they need to improve client relationship management, without spending hours searching for what they need, is the holy grail of the legal sector.’ David Fitch, Director of Knowledge Management