Transformative Marketing: Increasing Market Penetration through Continuous Marketing Data Management
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Transcript of Transformative Marketing: Increasing Market Penetration through Continuous Marketing Data Management
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Increasing Market Penetration through Continuous Marketing Data Management
Transformative Marketing:
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Organizations are investing in marketing technology at an accelerating rate
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The shift to digital marketing strategies necessitates a clear understanding of your target profile
Source: IDC
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Demand Gen teams looking for greater efficiency in market penetration recognize the need for complete & accurate data
Source:1 – Demand Gen
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Unfortunately, the State of Marketing data is…not great
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To facilitate stronger relationships, marketing data management supports critical sales & marketing processes
• Baseline Your Data Quality
• Target Market Analysis
• Market Coverage and Penetration
• Segmentation, Targeting & Content Alignment
• Lead Scoring & Routing
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Those companies that make data management a priority will quickly distance themselves from their competitors
• Better targeting & segmentation
• Improved response rates• Accelerated MQL generation
N=412 Source: Aberdeen Group
64
349
622
Best-in-class
Industry average
Laggards
Marketing responses to generate one customer
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Dun & Bradstreet NetProspex delivers the largest global reach and insight into companies and the people who run them
Accounts Contacts
Empowering marketers to drive predictable and repeatable business results through the use of richer, more targeted, better maintained marketing data
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The NetProspex B2B Data Factory
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Crowd
3rd Party
Royalty
Manual
Marketing Automation
& CRM
~8% “make it”250MM /yr 42M contacts | D-U-N-S Company Intelligence | 4,500+ Installed Technologies
Seamless integration to CRM & marketing automation
Continuous Curation & Validation Process
API
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Workbench Data Platform – a broad platform of data services that drive smarter marketing
Analytics & Insight• Audience validation / Risk
Assessment• Audience profile & segmentation
analysis• Target market and white space
analysis• Data quality & completeness
reports Inbound Intelligence• Short-form data enrichment for
contact & company details• Real-time data cleansing & junk
detection
Targeting & Audience Acquisition• Source targeted net-new contact
and company records• Company targeting and triggered
contact outreach
Continuous Data Management• Contact & Company validation and
enrichment• Risk & duplicate identification• Data cleansing, junk detection,
normalization
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Case Study – Danaher/Fluke IG
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Danaher Family of Brands
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Diagnostics
Building a global science and technology company
DentalLife Sciences & Diagnostics
Test & Measurement
Industrial Technologies
Environmental
Communications
Water Quality
Gilbarco Veeder-Root
Instruments
Dental Product ID
AutomationLife Sciences
Danaher Family of Brands
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Analysis and Diagnostics Tools
(ADT)
Process Calibration ToolsPower QualityScopemeters
VibrationThermography
Service and Installation Tools
(SIT)
Digital MultimetersClamp Meters
Electrical testersThermometers
Indoor Air DiagnosticsPomona brand
Fluke Industrial Group
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Danaher’s Philosophy
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Kaizen is continuous improvement that is based on certain guiding principles:
• Good processes bring good results
• Go see for yourself to grasp the current situation
• Speak with data, manage by facts
• Take action to contain and correct root causes of problems
• Work as a team
• Kaizen is everybody’s business
• Big results come from many small changes accumulated over time
Changing for the Better through Kaizen
KAI = CHANGE
ZEN = GOOD
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Transformative Marketing
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Step 1: Size your market
Step 2: Develop target profile
Step 3: Assess your current visibility
Step 4: Prioritize actions to close gaps
Step 5: Sustain and Gain
Starting with the Market
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Sizing the market
Stream SIC Description, Sub-Code, SIC
Estimated Total Sites
in the Universe
Ave # T&M users per
targeted site
Targeted Sites based
on Filter Criteria
Total Contacts Targeted
Oil and Gas Extraction - 13 1311/1321Crude Petroleum and Natural Gas/Natural Gas Liquids
6,732 6.4 2,158 13,892
Oil and Gas Extraction - 13 1381/1382/1389
Drilling Oil and Gas Wells/Oil and Gas Field Exploration Services/Oil and Gas Field Services, Not Elsewhere Classified
21,121 3.0 6,908 20,871
Petroleum Refining And Related Industries - 29
2911/2999Petroleum Refining/Products of Petroleum and Coal, Not Elsewhere Classified
1,918 11.5 626 7,196
Petroleum Refining And Related Industries - 29
2951/2992Asphalt Paving Mixtures and Blocks/Lubricating Oils and Greases
2,183 2.3 856 2,010
Pipelines, Except Natural Gas - 46
4612/4613/4619Crude Petroleum Pipelines/Refined Petroleum Pipelines/Pipelines, Not Elsewhere Classified
1,257 12.0 192 2,306
Electric, Gas, And Sanitary Services - 49
4925/4932Mixed, Manufactured, or Liquefied Petroleum Gas Production/Gas and Other Services Combined
1,444 5.3 263 1,400
Wholesale Trade-non-durable Goods - 51
5171/5172
Petroleum Bulk stations and Terminals/Petroleum and Petroleum Products Wholesalers, Except Bulk Stations and Terminals
16,029 2.2 4,798 10,450
Total Sites 50,684 Targeted
Site/Contacts 15,801 58,124
Foundational building block – knowing how big your target market should be.
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How do we identify it?• Addressable – Do we know their name? • Contactable – Do we have an email, phone, or location?• Relevant – Do we know what company and industry?• Actionable – Do we know what they do, their role in decision making?
How do we measure it?
Develop the target profile
# Contacts with all “must-haves”
# Contacts in Target Market
Visibility % =
Driven by Marketing Mix
Driven by Focus Industries
Assess the current visibility
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Acquisition and Organic Growth
WHAT YOU WANTKeyword Inclusion:• Facilities, Plant, Manager, Engineer, I & E,
Reliability, Service, Mechanic, Mechanical Tech, Safety, Operations, Foreman, Supervisor, Energy, E & C, Field Engineer, QC, Maintenance… and more.
WHAT YOU DON’T WANTKeyword Exclusion:• VP, Legal, IT, Payroll, Accounting, Sales,
Shipping, Support, Tax, Training, Web, Marketing, Planner, Network, Office, Admin, Secretary, Loss Prevention, Receptionist, Store, Clerk, Cashier, Supply Chain… and more.
To build a database against aggressive goals, prospect acquisition becomes critical. Add only relevant company contacts, within focus industries, with specific titles.
57 “Include” keywords303 “Exclude” keywords
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Closing the Gaps
Size the Marketing
Hoover’sand D&B
US Census Data
Acquiring and Qualifying Prospects
NetProspex DataHealth
Data Enhance
Outbound Calling
Cleanse and Append
NetProspex Workbench
NetProspex Connector
Partnering for perfection
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Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-150.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
SST Growth and Quality Metrics
Total Number of contacts Number of Contacts with IndustryNumber of Contacts with V- Target Profile
70% to Universe Goal
Data Merge
IndustryUpdate
JOP
DataCleanse
DataCleanse
JOP vs Goal Tracking
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Lessons Learned
• Pre-launch alignment is critical – sales, marketing and IT collaboration
• Infrastructure will always be a factor – prepare early and often
• Good data comes at a price – assess and decide on risk vs. reward vs. cost
• Halo effect presents itself very early – >100% increases in promotional response
• Account or Contact? Two very different approaches, with independent action plans – and requirements
• Plan for higher risk activity
• IP allocation to keep scoring high and avoid blacklists
• Establish new opt-out criteria for profile acquisition – socialize early
• Determine the proper warming techniques based on the marketing mix
• Test and pilot to learn more
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Thank You