growing your database responsibly with third party data

www.act-on.com | @ActOnSoftware | #ActOnSW

David Fowler: CPO, Act-On Software Dave Scott: Founder & CEO Marketfish

Growing Your Database Responsibly with Third Party Data

www.act-on.com | @ActOnSoftware | #ActOnSW

Today’s Presenters

David FowlerCPO, Act-On Software

Dave ScottFounder & CEO, Marketfish

www.act-on.com | @ActOnSoftware | #ActOnSW

About Dave Scott

CEO & Founder of Marketfish• 20 years experience in lead gen

marketing• Head of Marketing at 3 public companies• MBA in Marketing from Wharton

Author of “The New Rules of Lead Generation: Proven Strategies to Improve Marketing ROI”• Focuses on the 7 best lead gen strategies• Big focus on buying data• Out in Q1 2013

www.act-on.com | @ActOnSoftware | #ActOnSW

About Marketfish

Largest data marketplace in the US• 300M email records• 500M postal records

Fully automated• Self service• Data in minutes

Servicing over 600 customers• Ranging from small startups to Fortune 500

www.act-on.com | @ActOnSoftware | #ActOnSW

Today’s Agenda

• Generations of list fulfillment

• How to grow customers

• Why 3rd party data?

• Pros & Cons

• Questions to ask

• Warning signs

• Best practices

• Case study

• Wrap up – Q&A

www.act-on.com | @ActOnSoftware | #ActOnSW

Generations of List Fulfillment

1. Broker | Manager | Service Bureau | Database

2. Broker | Manager | Database

3. Broker | Database

4. Broker | Approval

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How To Grow Customers

Most companies have a mandate to grow leads and customers

Only 7 ways to do that• Display• SEM• Social• Trade Shows• Cold Call• Email• Direct mail

}– Requires purchasing outside data

www.act-on.com | @ActOnSoftware | #ActOnSW

Why Buy 3rd Party Data

Sales team requires a lot of warm leads• Company growing quickly• Sales team heavily relies on marketing

But tough to keep up with demand• Current house lists isn’t large enough (or isn’t

growing fast enough• Organic acquisition strategies aren’t sufficient to

meet need

Renting lists feels too risky

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Should You Buy Lists?

ProsBuy targets based on ideal customer

Market to this list alongside house list

You get a one year, unlimited use

Pay for what you use

ConsYou are probably buying non-permissioned data

Most data is old and inaccurate

You don’t know who to trust

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Questions to Ask

How is the data collected?• Good answer: through a permission based process• Bad answer: scraped using an internet crawler

How is the accuracy verified?• Good answer: phone verified quarterly• Bad answer: It’s not

What data elements do I get?• Good answer: full record include geography and demographics• Bad Answer: Just email or postal address

Is there a return policy if the data is bad?• Good answer: Yes, unconditional• Bad answer: no or limited to proven bad records

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Warning Signs

Not a US-based business

The business is located in Florida

Willing to sell you 1 million names for $1.00

The file is large, blind and compiled

www.act-on.com | @ActOnSoftware | #ActOnSW

Best Practices

Ask around• Your friends are also buying names• Bad news travels quickly

Test before you buy• Small batches• Know your success measurements

The more automated the better• Platforms are more efficient than people• The more automation, the less errors

www.act-on.com | @ActOnSoftware | #ActOnSW

Case Study

• Reid Business Supply• #1 supplier of industrial parts• Marketing team of 4

• Started with 3 vendors• Narrowed to one

• Started with test of 10,000 records• Tested in small batches• Measured quality and ROI with each test

• Grown to 100,000 records per quarter

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Summary

Buying data is an excellent way to grow your leads or in-house database

Pick a good partner, one that will work with you and support your goals

Test, test, test

www.act-on.com | @ActOnSoftware | #ActOnSW

Wrap Up

• Third party data can be a successful strategy in building your database

• Ensure you use a reputable vendor

• If in doubt shop around

• Look at all the T’s and C’s for your comfort

• Do your due diligence – ask for references

• Enjoy the ROI increase!

www.act-on.com | @ActOnSoftware | #ActOnSW

Q&A

• David Fowler • Chief Privacy & Deliverability Officer • david.fowler@act-on.net

• Dave Scott• Founder & CEO • dave@marketfish.com