THE COURSE: What is all marketers one common threat

What is ALL MARKETERS one

COMMON THREAT?

BAD CUSTOMER INTELLIGENCE!

By Anders Lindgren

All marketers share a common AIM. We want our content to reach our target audience – our most likely buyers.

The aim is within easy reach.

With today’s marketing automation SOFTWARE, we can reach buyers with unprecedented precision.

Many fail to utilize these systems, say experts.

We fail due to ONE THING:

We get lost in a cloud of

BAD DATA

of organizations across all industries believe INACCURATE DATA is UNDERMINING their ability to provide an excellent customer experience. – Experian, Global Data Quality Research, 2016

of organizations LACK a coherent, centralized approach to DATA QUALITY. – Experian, Global Data Quality Research, 2016

rate the overall health of their DATA as UNRELIABLE – Sirius Decisions The Impact of Bad Data on Demand Generation, 2013

BAD DATA

is the one common threat all marketers face in our new digital world.

of marketers say "LACK OF DATA QUALITY” is the most challenging obstacle to success.

– Ascend2, Done-Drive Marketing Survey, November 2014

BAD DATA will SABOTAGE any well intended marketing campaign.

It doesn’t matter how great your system is, if the UNDERLYING data is bad: You will fail to hit your

TARGETS.

No one descibes the REAL COST of bad data better than David Raab.

People might respond to a poorly targeted message, but they can’t respond to a message they never get.�

Having good

DATA IS VITAL 8

Since war began, the role of gathering relevant intelligence has been vital.

Since firms began wanting buyers, the role of gathering relevant CUSTOMER INTELLIGENCE has been vital.

Doing marketing without accurate customer and prospect data, is like doing TARGET PRACTICE with a

BLINDFOLD.

BELIEVE IT OR NOT! Many utilize their IT systems in this manner, show surveys.

Customer insight is fundamental, but RARELY APPLIED.

of customer DATA is ACTUALLY USED for customer insight to drive marketing decisions.

– Forrester Research, Inc, 2012 Buyer Insights Survey

A key to creating LEADS and sales, lies in utilizing marketing automation and CRM tools.

Anticipate buyer behavior.

Drive personalized communication.

Create and nurture leads Fulfill customer demands.

Build fruitful relationships.

There are a number of various tools and systems available, but here are some of well known: Act-On, Adobe, CallidusCloud, Hubspot, IBM, Marketo, Microsoft Dynamics, Oracle-Eloqua, Salesforce, Salesfusion, Silverpop

How well you drive personalized communication and create leads comes down to ONE THING: The quality of the data you have on your leads or customers.

Keep track of all the TOUCHPOINTS your buyers have with your company

Get insight into their interests and preferences Leverage that data to drive communication that’s both

personal & relevant

STAN RAPP, an icon in Direct Marketing, ties it all together for us.

In the 21st century, the database is the marketplace.

The internet is the center of the universe in our lives.�

To apply Stan Rapp’s thinking, many need to take a MENTAL SHIFT. A well functioning Marketing Automation and CRM-system with accurate Customer Intelligence (CI) is the LIFEBLOOD and CENTRAL NERVOUS SYSTEM of any customer driven organization.

Treat it as such.

Make the INVESTMENT!

Customer/prospect data and intelligence is the new GOLD.

CUSTOMER ID Company::………

Name:…………..

Title:…………….

Adress…………..

Phone:………….

E-mail:………….

Make sure you manage it as well as your finances and other key assets.

DATA METRICS Reads:……………

Downloads:…….

Shares:………….

Leads:…………..

Sales:……………

Many assume that their customer data quality is good without even examining it.

Don’t assume, make certain!

Many misunderstand what CRM and Marketing Automation is all about.

Automation

CRM

It’s not merely a system or a tool.

Marketing

At its simplest form, it’s about managing the relationships with your customers and prospects and the data intelligence associated with them.

Marketing Automation and CRM is a DISCIPLINE. Installing a new or blaming the old system will not solve anything.

Instead, install data discipline – a data driven culture.

Only then can you make wonders with your systems.

Most organizations have a culture where they view data as a necessary evil and not really a business asset the way they think of things like employees, cash and buildings.

There's not enough in the way of good data quality controls in place to make sure data is maintained in the right way going forward.� – TED FRIEDMAN, principal analyst, Gartner Inc.

Appoint a DATA-STEWARD. The person is the CUSTODIAN of data quality.

Responsible for all aspect of the CRM and Marketing Automation systems.

It’s a tough job to discipline people and processes, so appoint one with authority.

The top management must discipline the organization into putting complete and correct data into the system.� – Nils Molin, COO, Radar Ecosystem Specialists

Many of us marketers have plenty of CREATIVE TALENT and communication craftsmanship.

Creating top-notch content is what we do best. It’s what we love to do.”

Few marketers are DATA GEEKS and love databases, bits and bytes.

It’s tedious work and a REAL BORE. Many end up using 80% of their time on content and 20% on the data.

It should be the OPPOSITE!

A marriage MADE IN HEAVEN! Creative intelligence

Data intelligence

TRUE ‌and they lived happily ever after in digital marketing heaven.

Other RELATED presentations.

Find it on slideshare.com http://bit.ly/1Lb6d03

Appendix

7

WAYS TO IMPROVE YOUR MARKETING DATABASE.

Why your marketing DATABASE is important.

of marketers conduct EMAIL marketing campaigns, which is the most popular communication channel for 2016 – Experian, Global Data Quality Research, 2016

Seven ways to improve your marketing DATABASE: 1.

2.

3.

4.

5.

6.

7.

Identify your most likely buyers Prioritize job roles and key contact names Consider how to gather you customer intelligence Build and maintain your own database Stop the bad data from coming in Check your data regularly Work in parallel with e-mail + So-Me contacts

Identify your most likely BUYERS. Zoom in on your target groups.

Who are they?

Decision makers?

Influencers?

Consumers?

How old are they?

Where do they live and work?

‌

1

Pinpoint high priority target GROUPS and don’t forget key influencers.

PRIORITIZE job roles and key contact names.

You don’t build relationships with company addresses.

They don’t buy products or services.

People do!

2

Consider how to GATHER your data and customer intelligence.

3

Identify the media channels that are preferred among your target audience, and prioritize the channels you want to use: E-mail, social media, websites or a mix.

Consider what type of data you need to collect in these channels to optimize your marketing efforts.

Build and maintain your OWN database

4

Nobody knows your market as you do.

But don’t UNDERESTIMATE the task of creating your own contact lists and marketing database.

It always takes more effort and time than people expect.

STOP the bad data from coming in.

5

THERE’S ONLY ONE WAY: Give someone the data-steward role, I talked about earlier.

CHECK your data regularly.

DATA GETS QUICKLY STALE. Contact lists will generally go out of date at a rate of 15% every year.

Refresh your list with outside data providers once every year.

6

Contact people in your database to verify key information.

Moved address?

New email or phone?

Work in parallel with E-MAIL lists and social media contacts.

7

The most effective marketing mix combines traditional methods with e-mailings, web-marketing and social media networking.

Beware of the legal restrictions on doing e-mail marketing.

Here’s an example and TEMPLATE for managing your contact database.

With it, you can estimate the size of and check the quality of your contact database.

Country: XXX

Segment

Customers

Top 50

350

500

750

Top 100

700

1000

1700

Others

2100

1500

3600

Top 1000 private

7000

5000

12000

Top 500 public

3500

2500

6000

Recruitment

Alumni

1000

1000

Others

Analysts

50

50

200

200

Prospects

Journalists

Management Team

Influencers

Total

TOTAL (Goal)

25300

TOTAL (Actual)

20100

Missing contacts

5200

With this excercise you can do a rough estimate of how many customer and prospect contacts you should have in your CRM-database based on your predefined target groups. For each customer/prospect estimate with an average of 7 members in the management team, and an average of 10 other influencers pr. customers and and an average of 5 other influencers pr. prospect. These numbers could be different depending on your target groups and the typical size of organizations you work or want to work with. The important thing is that you get an indication whether you are very far or very near your goal.

Here’s an example of a market segment analysis.

Media Telecom

……… country largest companies

Utilities Insurance Transaction intensive

Customer intensive

Banks Finance

Management Team IT- managers

Travel Transport

Top 1000 private sector

Retail Health

Top 500 public sector

Ministries Directorates Inspectorates Municipalities State owned companies

Ministers & Directors IT- managers

1st. priority 2nd. priority

The important thing is to go through the task for your own firm.

© 2016 Anders Lindgren.

The information in this guide is copyrighted, and The Marketing Marksmanship Code™ and symbol are trademarks of Anders Lindgren.

Sharing and copying is permitted only if the information remains unchanged and licensee "Anders Lindgren" is referred to as the source.

The information can not be published in print in any media without the prior consent of the copyright holder.

• Text , design and illustrations : Anders Lindgren • Photos: © Adobe Stock, © Dreamstime • Typefaces : Myriad Pro , Myriad Pro Black and FFAD Matro Contact: Anders Lindgren.

E- mail: Phone : +47 921 30 430

ABOUT THE AUTHOR Hey, my name is Anders Lindgren.

People who know me well, will label me as a digital pioneer, PR-veteran and services marketing specialist. I have two decades of experience as a marketing and communication director for large professional services firms, primarily PwC and Sopra Steria.

Throughout my career I have been passionate about sharing insights, and helping people and brands communicate in a way that makes them shine and stand out from the crowd.