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Creating Commercial Value from Public Data

Creating Commercial Value from Public Data. Presentation to American Business Media Lisa Wallerstein, V.P. of Marketing Commonwealth Business Media. Agenda. Context: PIERS History Our Markets Our Commercial Market Strategy & Tactics A Case in Point: Trade Profiles.

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Creating Commercial Value from Public Data

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  1. Creating Commercial Valuefrom Public Data Presentation to American Business Media Lisa Wallerstein, V.P. of Marketing Commonwealth Business Media

  2. Agenda • Context: PIERS History • Our Markets • Our Commercial Market Strategy & Tactics • A Case in Point: Trade Profiles

  3. The commercial value … … of the right information in the right place, at the right time.

  4. PIERS: A short history • Antecedent was – and is – a content creator: The Journal of Commerce. • PIERS was conceived as a information delivery service. • PIERS was launched over 30 years ago as the JOC’s first venture into electronic information. • PIERS 1980s FOIA filings opened access to ships’ manifests and bills of lading. • Today, PIERS is the primary source of U.S. waterborne import-export trade data and a leading provider of global intelligence.

  5. PIERS adds value • PIERS gathers and verifies all records for accuracy and completeness. • PIERS translates the raw data into intelligible shipping records in a format that has become the industry standard. â • PIERS subjects its data to a series of audits, and adds detail such as harmonized tariff codes and estimated value of cargoes. • PIERS produces 18 million records annually. ä

  6. Why Use PIERS • PIERS database reveals the details of global buying and selling to help companies find out: • Who is buying • Who is selling • What goods are being transported and their estimated dollar value • Where they’re being transported to and from

  7. PIERS trade data sources • Imports – Automated Manifest System (AMS) and manual documents • Exports – Bills of lading • International data sourced from customs authorities and private data providers: • Argentina • Barbados • Bolivia • Brazil • Chile • China • Colombia • Djibouti (+Ethiopia) • Ecuador • Egypt • Guatemala • India • Ivory Coast • Jordan • Kenya • Korea • Mexico • Pakistan (+Afghanistan) • Paraguay • Peru • Philippines • Russia • Saudi Arabia • Sudan • Tanzania • Ukraine • Venezuela • Yemen

  8. Traditionally, PIERS clients were: • Maritime industry participants, for example: • Shipping lines (market data, rate setting). • Port authorities (marketing, facilities planning). • Or Government agencies, for example: • Customs (outsourced data scrubbing and rationalization). • Army Corps of Engineers (track coastal channel activity). • Department of Agriculture (ocean rates and transportation trends).

  9. Today, PIERS has 6,000 private- and public-sector clients … • In the public sector: • Federal departments and agencies • Regional, state and local government • In the maritime sector: • Global container carriers • Port authorities • Ocean transport intermediaries • In the commercial sector: * • Fortune 1000s • Trade associations • Support services, e.g., trade financiers, consultants, law firms • *Fastest growing • … in more than 40 countries • Internationally: • Purchases directly via the Web, or through an agency network.

  10. PIERS commercial focus • A target market of some 37,000 companies • Our fastest growing new market … 85% revenue growth over four years. • Currently represents 40% of PIERS revenue • Projected to grow 12% annually / retention rates approaching 78%

  11. PIERS commercial strategy Leverage our assets: • Our ability to gather and deliver trade information to the point of decision-making. • Our unique database: “This is global commercial intelligence you’ll find nowhere else in the world.” • Our brand equity among shipping lines and multimodal transport companies with their customers. • Our knowledge of international trade as the entree to global markets for companies expanding business beyond our borders.

  12. PIERS commercial strategy Extend, adapt and create: • Develop new web-based products that deliver information on-demand. • Develop new information products that combine and manipulate data to yield business insight. • Reposition trade data as a unique source of competitive intelligence for companies doing business globally. • Reposition trade intelligence as an essential input for a fundamental business applications. â â â

  13. PIERS commercial strategy Promote applications of PIERS essential input to: • Identify new market demand and sales opportunities. • Locate and qualify new suppliers. • Benchmark performance against the competition. • Monitor contract compliance / long-distance business partnerships. • Research and analyze international trade trends. • Support strategic decision-making.

  14. PIERS commercial strategy • Promote PIERS as essential input to sales and marketing … â

  15. PIERS commercial strategy • … and ascompetitive intelligence.

  16. PIERS commercial strategy • Then deliver information on-demand.

  17. Tactical elements of PIERS commercial strategy • Increase PIERS visibility as a market intelligence resource in the commercial sector. â • Position PIERS data as import-export “insider information” that sharpens business decision-making. • Reposition products for commercial applications. â • Bundle products to maximize intelligence value (and per-customer revenues). • Develop new products that marry trade data with decision-support software capabilities. • Migrate to the more immediate delivery, wider reach (and lower overhead) of web-based product delivery.

  18. Tactics: Increasing visibility • Aggressive customer acquisition direct mail and promotions. • Web search engine optimization and marketing (SEO/SEM). • Brand advertising campaigns include award-winning “Imagine the Possibilities” advertisement.

  19. Tactics: Increasing visibility • Place articles, book speaking engagements by subject matter experts. • Media relations: PIERS as source in The Wall Street Journal, New York Times, Bloomberg’s, etc. • Create FREE content — e-newsletter, Trade Insights web page — to open channels and build user community.

  20. Objective: Gain fresh insight

  21. Tactics: Repositioning and re-inventing products • New website provides subscribers with secure yet streamlined anywhere, anytime access to their choice of products. • Flexible pricing offers moreaffordable purchase options for small businesses and international users.

  22. Tactics: Repositioning and re-inventing products… • Integrated suites of products offer comprehensive solutions: • Trade Strategies: WebTI + Trade Profiles + Trade Horizons Online • Alliances contribute to more multi-dimensional intelligence: • Trade Profiles customers access qualifying background information for the most active companies in PIERS database through a partnership withD&B.â â â

  23. Trade Profiles delivers • For each of the 400,000+ companies • most active on both sides of U.S. import-export trade: • From PIERS: The details of the most recent 12 months’ trading activities — down to the individual transaction; plus • From D&B: The D-U-N-S® Number*-identified business background information — including decision-makers’ names and phone numbers; • On-demand via the web … by subscription or pay-go. • *D&B D-U-N-S Numbers are proprietary to D&B, are licensed from D&B and are for internal use only. • D-U-N-S is a registered trademark of D&B.

  24. Trade Profiles delivers Simple web-based user-interface allows users to pinpoint the companies and type of trade they are seeking based on multiple search criteria. Makes it easy to find the top importers/exporters of specific commodities.

  25. Trade Profiles delivers • Enables users to: • Look up companies by location, products, or markets. • Identify buyers’ mainstay suppliers. • Rank sellers by activity, volumes, estimated values. • Filter results by demographic criteria. • … so they can: • Narrow-focus marketing. • Map sales calls. • Cross-sell their customer bases. • Track their competitors.

  26. Trade Profiles delivers the complete picture of the businesses engaged in global commerce..

  27. Added dimension:Trade Finance Online • Designed expressly for banks and financial institutions: • Used to identify and prequalify prospective customers for import-export letters of credit, remittances and other trade finance products. • Commercial activity is aggregated quarterly. • Commercial activity is reported by company location, then aggregated under a company’s principal or headquarters location. • Summary level reports are provided.

  28. When we get it right

  29. How PIERS gets it right • PIERS commercial client base: • Our fastest growing new market … 85% revenue growth over four years. • Currently represents 40% of PIERS revenue. • Projected to grow 12% annually / retention rates approaching 78%.

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