Highlights from the Direct Marketing to Business Conference. HSR.edu May 25, 2006. Greg Holliday Jennifer Zieverink. Agenda. Conference overview and key takeaways Seminar Content Building a BtoB Direct Marketing Database BtoB Creative Secrets to Lift Response
May 25, 2006
An organized collection of data about individual customers, prospects or suspects that is accessible and actionable for marketing to support both strategic and tactical decisions across all marketing channels
1 time member
To serve as the single repository for all data identified as relevant to meet the goals ofmarketing that are actionable and accessible for:
New Products to New Customers
New Products to
New Products to New Members
Same products to New
Use a set of tactics to “speak” - with a single voice - throughout the enterprise - by having a complete picture of how the customer interacts with their company
Customer Data Touch Points
CAPTURE / CODE THOSE WHO:
Tell you they’re not …………
Don’t match the profile or model
Outside the legal parameters of the offer
Fall below the acceptable cut off
80% OF REV.
SPEND YOUR $$ HERE
CAN GO EITHER
THE NEXT BEST HOPE
SELECT PROSPECTS FOR LEAD GEN. MAILING
UPDATE TO MDB
Algorithm or use
Birth date, etc.
Buyer / User of Product / Services
ACTIVITY % Companies Using
Individual $ Amount of Purchase 68% 86%
# of Annual Purchases 45% 75%
$ Value of Annual Purchases 51% 81%
Recency 49% 84%
Frequency 51% 77%
Source of Original Lead/Contact 66% 80%
Competitive Products Used 25% 45%
SIC Code 36% 41%
Promotional History 36% 56%
Demographic Overlay 25% 37%
Prospects 72% 76%
Source: Richard Levy, DIRECT magazine
Types of data sourced maintaining?
Accounts receivable records
Shipping and order information
Sales leads, sales contacts
Channel marketers end user data
Customer service systems
Where it can come from
Sales managers desktops or notebooks
Resellers shipping systems
External rented and purchased data providers
…yes, it can be a bit of a nightmareBtoB internal data sources
Contact information maintaining?
Enterprise v. site
SIC or NAICS
Public v. private
Size of Yellow Pages ad
Budgets, purchase plans
Unique identifier, DUNS #Typical BtoB data fields
Note: Italic items come from internal sources.
Sales rep assigned maintaining?
Type of channel partner (top tier, second tier, reseller, distributor, etc.)
Years as channel partner
If channel data can link to the end user, bring over the company DUNS/ABI or company ID# for end userBuilding a channel partner database: Additional fields needed
Demographic fields to append maintaining?
Carrier route: identifies the individual mail carrier, for maximum postal discounts
Years in business code: indicates stability and purchasing needs
Life cycle predictor: determines whether a growth, static or declining business
Employee size: indicates buying needs/process
Annual sales: indicates buying needs/process Source: Experian
Credit fields to append
Derogatory legal indicator: tax liens, bankruptcy, collection problems
Legal liability amount: dollars of legal liability
UCC data indicator: indicates company has secured a line of credit by collateral
Recent inquiry date: indicates that company is seeking credit
DBT of combined trade totals: average number of days of late paymentsDemographic and credit appends
During the next two hours (based on D&B’s database):
706 firms will move
578 businesses will change their phone numbers
514 suits, liens or judgments will be filed against companies
250 business phone numbers will be disconnected
120 new businesses will open
120 D&B credit ratings will change
120 corporate CFOs will change
60 companies will change their names
60 businesses will shut down
10 firms will file a bankruptcy petition
1 company will change ownership
Data decay by element maintaining?
A 2003 report from the Data Warehouse Institute said that bad customer data costs U.S. businesses more than $600 billion a year in postage, printing and staff overhead—not to mention lost opportunities.
Requesting corporate mail room to notify mailer of personnel changes via mail or phone response to “bundle letter” accompanying the catalogs.
--Courtesy of Paragon Direct
Here is the same data, in graphic form. Nearly 20,000 unique companies were only listed once, which is good. But 78% of the records represented duplicate companies!
Current State of BtoB Database Marketing changes via mail or phone response to “bundle letter” accompanying the catalogs.
BtoB Creative Secrets to Lift Response changes via mail or phone response to “bundle letter” accompanying the catalogs.
Nancy Harhut, SVP/ECD, Hill Holliday
DMA Membership Details Xerox