How Data Quality Impacts The Entire Lead LifeCycle

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How Data Quality Impacts The Entire Lead Lifecycle !!

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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  

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Q&A // Panelists!MODERATOR:    

David  Raab,  Principal,  

Raab  Associates    

Andrew  Gaffney,    Editor,  

Demand  Gen  Report      

#LLCseries  

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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  

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