webinar tech. that drives modern mktg department - part 1

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The Technology that Drives the Modern Marketing Department

Thursday, February 13th 2014

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Topics for Today’s Session

● How has the role of marketing changed in the past 10 years? How will it change in the future?

● Traditional “data-think” will not be adequate to prepare for the future of marketing

● How marketers can leverage new technologies to engage in conversational marketing with prospects & customers

● How to develop processes, personas and messages that resonate with your target prospects.

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The Modern

Marketer

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Prepare for the coming revolution!

Phase 1: Inspect and Correct your Foundation: Put Data First!

Phase 2: Develop your Processes, Personas and Message.

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About the Speakers

Justin Gray CEO & Chief Marketing Evangelist, LeadMD

@jgraymatter

Donato DiorioCEO, RingLead

@idonato

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The Data decision: It starts with a clear vision

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Turn left or turn right?

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Left Right1 contact with:

• company name• name• title• email• phone

Multiple contacts with:• company name• name• title• title level• department• email• verified email• phone• company sector• company description• bio

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1 flavor Multiple• Targeted campaign• Fresh data• Growing interest• Ability to segment

● Generic campaign● List fatigue● High unsubscribes● No segmentation

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● Data Planning - what are my goals?● Data Potential - what is possible?● Data Philosophy - how to achieve it?

The 3 P’s and the Foundations of Data

Data powers your CRM and marketing automation platform

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Upgrade yourData-Think

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How do I build a great database?

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Enhance

Clean

Protect Enhance

Without…

The Foundations of Data Execution

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Enhance

Clean

Protect Enhance

Without…

Poorfoundation

Without performing a

comprehensive data cleanse, the

foundation is weak

The Foundation: Good Campaign Data

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Enhance

Clean

Protect Enhance

Without…

Decaying data

Without a protection

strategy, your data will continually

decay

The Foundation: Good Campaign Data

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Enhance

Clean

Protect Enhance

Without…

Limited

potential

Without enhancing your existing data

you limit your “data potential”

The Foundation: Good Campaign Data

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Is it OK to delete data?

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Never delete CRM data - Score it Instead!

11/21/13: Donato is the decision maker for CRM Add ons06/15/13: Dan went to Kansas State, played football04/10/13: April is Donato’s assistant03/19/11: Matt Smith is the new Doctor, Donato is Dr. Who fan

Notes:

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Scoring Data: Focus on Good Data

11/21/13: Donato is the decision maker for CRM Add ons06/15/13: Dan went to Kansas State, played football04/10/13: April is Donato’s assistant03/19/11: Matt Smith is the new Doctor, Donato is Dr. Who fan

Notes:

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What can we learn/derive from the existing data?

• Domain is broadlook.com• Email pattern in first-initial(.)last-name• April reports to Donato• On broadlook.com, there are 15 additional contacts• Notes on Donato are 1 month old• Notes on April are 8 months old• Natalie is no longer at the company• “The Doctor” is a fictional character• Natalie is now a VP at another company - and an

additional prospect!

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How can I enforce data quality best

practices?

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Both Carrot and Stick work

• Determine carrot and/or stick on field basis, not object

• Educate users on the importance of everything you ask of them (focus on selfish reasons)

• Don’t ask what they don’t know

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Can training help enforce data standards?

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Enforcing Data Standards is Optimal

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How complete is my data?

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My Data is Fairly Complete

• Superstition or fact? Find out!

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My Data is Fairly Complete

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Shouldn’t I buy asmuch data as I can

all at once?

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Data decay happens

• Change in title, promotion

• Change in working location

• Change of phone number

• Add mobile phone number

• Change of department

• Change of area code

• Change of email format

• Merger or acquisition

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Isn’t bad data IT’s problem?

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Contact based

Month

NamesTitles

Emails addressPhone

BiographiesSocial Network Links

Real time content

spidering

Event & Activity Based

Day Hour

Dynamic

NewsEmail content

BlogsNet links

social networksnewsgroups

TweetCheck-In’sProximity

Website visitsEmail reads

Semantic monitoring

services

Real time API’s

Company Based

Decade Multi year Year Quarter

Static

URL Corp Name

CityState

AddressZip

PhoneCompetitors

RevenueEmployeesProductsServices

Financials

Database merging + algorithm

Editorial & Aggregation

Editorial + SEC spidering

Changes

Data types

Acquisition

method

Static, compiled and online databases Real timeUpdate

strategy

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How good is myvendor’s data?

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•Buy data from multiple sources•Refresh top companies with editors •6 month cycle (top 10K companies)•6-12 month (next 40K companies)•24 month cycle on the next 2 million•Nothing past the top 2 million•Add social data (good for top 10%)•Add news feeds (good for top 5%)•Mob source

Data industry processes

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How recent is the list as whole? How quickly was the list produced? Different from record freshness. Contact data degrades 3% per month (5% in a stressed economy). A list of 1000 records can be built over 60 days. In the case below, the first 500 records are 8 weeks old (5.68% inaccurate) upon list delivery.

96.8%

Buying data...why, how and gotchas

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86.5%

59.5%

Buying data...why, how and gotchas

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Your data vs. your vendor’s

• Your data is less complete

• Your data has a better competitive

advantage

• Use their data to fill in your data

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How good is my data?

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Points Your scoreFactors 4 3 2 1

Fresh <30 days <60 days <90 days <180 days

Accurate 95.00% 80% + 70% + 60% +

Multi-venueAll

availableBasic + 2 social Basic + 1 social

Basic(email+phone)

Built fast <14 days < 60 days < 90 days < 180 days

Normalized Enforced Plan + culture Has plan no

ScoredCustom

rulesAccessible

ruleswhite box

scoringblack box

scoring

Total data quality score:

CRM Data Quality

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Points Your scoreFactors 4 3 2 1

Targetedtarget by self description

hand built keywords SIC code

Custom built on-demandmashed from many sources

pulled from larger sample

Complete 95%+ 80.0% 60.0% 40.0%

Exclusive no competitors limited accessanyone can buy

accessfree

TransparentSources

transparentsources known

sourcesavailable

Verified By a personMarketing

automationemail

Total competitive advantage score:

CRM Competitive Advantage

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12

24

0 12 24

Data Quality

Co

mp

etit

ive

Ad

van

tage

Where is your CRM data?

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12

24

0 12 24

Quadrant Key

Data Quality

Co

mp

etit

ive

Ad

van

tage

Qualitative /Event-Driven

Influence

Quantitative/commodity

Cold Call

newCRMlead

Quantitative /Cyclic

Warm call

QualitativeCyclic

Relationship

CRM+90 days

CRM+180 daysCRM+

360 days

What is your data potential?

marketing automatio

n

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Can I Prevent Duplicate Records Based

on Email Address?

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Prevent duplicate based on email?

● No. Email addresses are not social security numbers● I have five current email addresses

■ ddiorio@broadlook.com■ dd@broadlook.com■ donato@broadlook.com■ dd@ringlead.com■ donato.diorio@gmail.com

● I get duplicate emails to (four) emails.

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Does my marketing team know

what they need?

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Data Information Knowledge Process

I want...More data (lists)I want... Better selection (databases)

I want... More contacts per company (zoom)I want... Fresher contacts(Jigsaw)

I want... More information (LinkedIn)I want... More knowledge (many sources)

I want... More process (crm)I want... Sustainable process

The Evolution of Marketing Desire

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So What’s the Next Step in That Evolution?

CONVERSATION

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Science shifts to Art

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• The Building Blocks

Demographics

Standardize

Normalize “Buyerize”

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Firmographics

• The Blueprint– Revenue Bands

– Purchasing Profiles

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Psychographics

• Buyer Personas – Need

– Pain

– Motivation

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The Result

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Behaviors

• The Craft– Behavior is 60% of the equation

– “Lead” and the fallacy of data

– If you wield it, they will come

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The Conversation is Born

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Apply the Science to make Art

• Inputs

• Processes

• Revenue Path

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Buyer Personas

• Think of Data as Conversation Queues

• Route “leads” based on commonality

• Communicate based on:– Recency

– Felt Need

– Pain

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Engage with Process!

• Bring everything together

• Build a success path

• Measure

success– Time

– Progression

– Result

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Watch Out Though

• Automation increases the probability of– Mistakes

– Duplicates

– Rogue messages

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Pitfalls to Avoid

• Overwriting Key Data– Lead Source

– Original Search Terms

• Channel Fatigue

• Data Maintenance & Purge

• Record Types

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How Does Success Look?

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How can data quality create a competitive advantage for you?

Download our free whitepaper, Put Data First

www.RingLead.com/putdatafirst

Learn More!

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Q&A

Follow RingLead on Twitter

@ringlead@iDonato@JgrayMatter@myleadmd

Join the RingLead Usergroup

RingLead.com/LinkedIn

Become a Fan on Facebook

Facebook.com/RingLeadIncFacebook.com/LeadMD

Questions?

Need help getting yourdata in order?

Contact RingLeadwww.RingLead.comsales@ringlead.com1.888.240.8088

Need help building a world-class revenue engine?

Contact LeadMDwww.LeadMD.com/pigsfly1.888.294.9854