How Data Quality Impacts The Entire Lead LifeCycle
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Transcript of How Data Quality Impacts The Entire Lead LifeCycle
Session sponsored by!
#LLCseries
How Data Quality Impacts The Entire Lead Lifecycle !!
#LLCseries
Questions / ON24 Logistics !
• Download this white paper. • View our podcast. • Take our assessment • …
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#LLCseries Demand Gen Report: @DG_Report
ReachForce: @ReachForce
David Raab: @draab
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Lead LifeCycle Series Prize Box!
Register, a>end and tweet the Lead LifeCycle Series sessions using the #LLCseries hashtag to be entered into the Prize Box giveaway! The more sessions you a>end and tweet, the higher
the chance at winning one of these awesome prizes!
See the full contest details and rules at: h>p://www3.demandgenreport.com/lls14/contest-‐rules.html
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About Demand Gen Report!
@DG_Report http://linkd.in/DG_Specialists
• Launched in 2007 to track best pracQces in lead generaQon
• Newsle>er has grown to more than 28,000 readers
• We also offer a menu of research and best pracQces reports
• New audio/video podcasts at DemandGenReport.com
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Panelists!MODERATOR:
David Raab, Principal,
Raab Associates
Andrew Gaffney, Editor,
Demand Gen Report
How Data Quality Impacts the EnOre Lead Lifecycle
David M. Raab Raab Associates July 23, 2014
“Everybody talks about data quality but few people do anything about it.”
-‐ Not Mark Twain
PrioriQzaQon
Things that
ma>er
Things we can
change
Things worth doing
1. Accuracy
2. Completeness
3. Consistency
4. etc.
Data Quality Components
Things That Ma>er: Data Quality
• ProspecQng: audience profiles • Lead acquisiQon: offer targeQng, form auto-‐fill • Lead nurture: offer targeQng, lead scoring, deliverability, progressive profiling • Sales: lead rouQng, lead acceptance, sales producQvity • Post-‐Sales: success management, offer selecQon
Things We Can Change: Data Quality
• Accuracy: dedupe, reference data, real Qme validaQon, periodic refresh
• Completeness: progressive profiling, external enrichment
• Consistency: standardizaQon
• Etc.: reporQng, stewardship, dashboards
One More Hurdle
Data Quality Impact on Revenue
* “The Impact of Bad Data on Demand CreaQon” Sirius Decisions, 2012
Following data quality best pracQces generates a 66% increase in revenue *
• Poor targeQng • Bad lead rouQng • Compensate w/ volume
Improve data on entry
25%* • Poor quality handed to sales • Different data between MAP
and CRM Accurate leads provided to sales
12.5%*
5%*
• Sales has to fill in gaps w/ their own research
• Valuable sales Qme is eaten up and sales doesn’t get to all leads
Sales has rich info to engage and qualify
• Poor alignment of contact and acQvity between MAP and CRM
• Sales and markeQng not on same page with late stage contact of account
Single version of the truth – sales & mktg
Poor Data Hygiene Best PracQces
ROI CalculaQon Before AQer Change
Leads 100,000 100,000
Close Rate 5% 6.3% +25%
Margin/Sale $1,000 $1,000
= Margin $5,000,000 $6,250,000 $1,250,000
Waste / Lead $1.00 $0.00
= Waste $(100,000) 0 $100,000
Quality Cost/Lead 0 $10.00
= Quality Cost 0 $(1,000,000) $(1,000,000)
= Net Margin $4,900,000 $5,250,000 $350,000
ROI 35%
Summary 1. Data quality matters 2. Data quality can be
improved 3. ROI is high
Next step is yours
ABOUT:
ü Fuels data-‐driven markeQng ü Combines data unificaQon, conQnuous data quality management, data
enrichment, and data analyQcs ü Unified, cleansed customer lifecycle data provides 360 degree view ü Enables rich, complex segmentaQon ü Solves tough markeQng a>ribuQon problems ü Feeds strategic markeQng iniQaQves, including personalizaQon and
predicQve
1. SmartForms™ 2. cDQM (Con2nuous Data Quality Manager)
Short Form for higher conversions
Data Required for nurture, score, route, target,
segment
Marketo Case Study: reachforce.com/soluQons/case-‐studies/landing-‐page-‐opQmizaQon/
(Continuous Data Quality Manager)
Cloud-‐Based ConQnuous Data
Quality Management & Data Enrichment
ü Data StandardizaQon ü Data NormalizaQon ü Contact de-‐duplicaQon ü Data Append (compleQon) ü Email validaQon ü Phone number validaQon ü Address cerQficaQon ü 360 customer view ü Complex segmentaQon ü Campaign a>ribuQon
GET IT AT: www.reachforce.com/360
#LLCseries
Q&A // Panelists!MODERATOR:
David Raab, Principal,
Raab Associates
Andrew Gaffney, Editor,
Demand Gen Report
#LLCseries
Lead LifeCycle Series Prize Box!
Register, a>end and tweet the Lead LifeCycle Series sessions using the #LLCseries hashtag to be entered into the Prize Box giveaway! The more sessions you a>end and tweet, the higher
the chance at winning one of these awesome prizes!
See the full contest details and rules at: h>p://www3.demandgenreport.com/lls14/contest-‐rules.html
#LLCseries
Thanks for attending this session!!
Make sure to a>end the next session in the Lead LifeCycle Series:
h>p://dg-‐r.co/lls14