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Building a B2B data strategy Presented by: Rebecca Clayton Date: 19/10/05 Marketplace reality Do you have any competitors ? You are at war ! Strategy: ‘a plan designed to achieve a particular long-term aim’ Strategy building blocks What do you do ? What issues do you face ? B2B strategy How to measure success ? Where are you going ? How to get there ? What do you do ? Your organisation Typical data sources Products Business plan Services Route to market Planning department Sales model What issues do you face ? External Issues: Internal Issues: Legal Staff Suppliers Grow revenue Economic Manage costs Competitive Product development Market life cycle Typical data sources: P&L Economic Reports Industry Analysis Market Analysis Press Coverage Sales Reports Recent global findings Bad data costs: 73% companies say that inaccurate and incomplete data costs them money Potential revenue lost: 75% companies admit potential revenue is lost through missed opportunities from poor data impact on profiling Where are you going ? Your B2B Vision, Mission & Objectives Sales revenue Brand / product awareness Lead generation Single customer view News updates Customer experience Typical data sources Sales Plan Marketing Plan Operational Plan How will you get there ? Action plan Data collection, validation, integration, analysis Research Product delivery Marketing activity and media mix Customer support Who is doing what Typical data sources Marketing Data Market Research Sales Data Customer Database A challenging journey Data inaccuracies rife: Only 14% companies manage to ensure their data is completely accurate Unclear accountability: Only 10% companies have a single person responsible for data integrity How to measure success ? B2B KPI’s Sales revenue Returned mail Response rates Cost per sale ROI Milestones Typical data sources Operations Data DMA Do you achieve > 6.4% B2B response rate ? DMIS Benchmarking Marketing Data QAS in the spotlight What do you do ? What issues do you face ? B2B strategy How to measure success ? Where are you going ? How to get there ? Planning carefully at QAS ! A scarce resource Money well-spent vs. Money not-so-well spent Intelligence Enterprises fail to capitalise on data because they lack analytical skills Nancy Mullen - Accenture / DM Review QAS - what do we do ? Produce DIY data integrity solutions software, data and services Market directly and through channel partners and influencers License model with annual renewal QAS - what issues do we face ? External CRM software failures Increasing IT spend Competitive pricing pressure Investment justification Internal Staff retention Product development Grow revenue Manage costs Customer experience QAS - where are we going ? Support and improve existing solutions Develop new solutions Double turnover in five years QAS - how will we get there ? B2B strategy at QAS 1. Acquire more customers 2. Grow customer spend through cross-sell 3. Displace competitor use within customers 1. Acquiring more customers Objective Plan >1 new customer every working day Method Customer profiling Data enhancement Contact acquisition PR DM Email Telephone marketing Exhibitions “Organisations are made up of individuals and their actions” Steve Shove, Onesource Precision Marketing Aug 05 New customer wins Measuring success Contact validation Suppliers Legal opt in Lead generation Speedy lead follow up Conversion to sale / ROI 2. Growing customer spend Objectives Increase customers with multiple QAS solutions Sell QuickAddress Pro Web Plan Method Web use research Account profiling Product line profiling Data enrichment Contact preference data DM On and offline advertising Seminars Sales calls Free software trial A clearer picture Title: First name: Surname: Position: Organisation: Address: Region: E-mail: Telephone: Department: Industry sector: No. employees: Sells to: Mr E Emer Jackson Web Developer NTL G2 7HQ Scotland [email protected] 0141 772 2838 Corporate Marketing Telecoms 15,000 Web / B2B Generating leads Penetration wins Measuring success Number customers Profiling information Returned mail Order accuracy Cost per lead / ROI 3. Competitor displacement Objective Reduce competitor presence in customer accounts Plan Product data profiling Renewal data Competitor intelligence Method Monthly email campaigns Three versions Businesses cannot use customer data effectively because it is fragmented through many databases Kerry Glance SearchCRM Jul 05 Growing market share Measuring success Response rate Response type Sales meetings Cost per sale Practicing what we preach Board sponsored and enterprise wide Capturing data across different multiple customer touchpoints Cleaning and maintenance Using data confidently Becoming confident Self assessment audit Measure data quality “Complete record” Set targets and get buy in Buy in is critical Not all staff care about data quality: Only 58% companies claim all employees see data accuracy as an important issue Management not paying enough attention: Only 19% companies say data management strategy has been discussed at board level in the last three years Board level engagement in data management issues has declined PWC Global Data Management Survey 2004 Get customers to help Give customers every opportunity to manage and update their own information Envelopes DM Billing Web Email Email contact validation Report your success Good data is good for everyone – technical and commercial Make it part of the culture Policies and training Incentives Strategy made easy What do you do ? What issues do you face ? B2B strategy How to measure success ? Where are you going ? How to get there ? The outcome: Your strategy Vision Targets Activities Product People Sales Marketing Measures and milestones