data marketing show presentation final version
DESCRIPTION
Award Winning Presentation on Contextually Relevant Data-Driven Marketing delivered at the 2009 Data Marketing ShowTRANSCRIPT
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Business Link NorthwestDemand-Pull Marketing
Contextually Relevant Marketing Activity and Stakeholder Engagement
Is targeting a Science or an Art form?
A presentation by
Neil Geoghegan, Corporate Resources Director, Business Link Northwest
Ged Mirfin, Chief Data Officer, Business Link Northwest
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Experience + Evidence = Intelligence
Aim: Move away from Anecdotal &
Judgmental to Evidence-basedDecision Making
Aim: Move away from Anecdotal &
Judgmental to Evidence-basedDecision Making
Rel
evan
t E
xper
ien
ce
Relevant Evidence
Opinion-based
Evidence-influenced
Experience-influenced
Intelligencebased
Truism No. 1: You Have to Know What You’re Talking About Before People Take You Seriously
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Informing the Choice Architects……… ……. or Con Trick of the century?
There is a level of Risk for Marketing Professionals:
•Option 1: Listen to the Customer and Do Exactly What They Says! – Risk being an also ran that adds little to the mix
• Option 2: Pretend to Know More Than the Customer and Risk Him Finding You To Be A Fraud. – Add something to the mix that is highly speculative.
•Option 3: Tell The Customer Something He Doesn’t Know That He Should Know and Needs To Know To Be Successful. – Create a compelling need to move the proposition forward
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Push-Marketing – Historical Problem Public Sector - delivery methods take precedence over customer
demand. Concept of Market Failure. Build It and They Will Come! End-users lack understanding of Public Sector Service Offerings. Some Public Sector Brands carry Baggage Difference between Public Sector Brand Awareness and
Understanding. The Business Link Brand has historically had poor customer
intelligence. The absence of sufficient Quality Data meant:
No holistic overview Marketing efforts were Supply-Push Generic Marketing Campaigns Nationally Driven Campaigns lacked Impact and affected Brand
Awareness Operational Efficiency Suffered
It is difficult “Pushing” a Proposition that Nobody Understands and is perceived to be of Poor quality!
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Truism No. 1 – “Understanding Your Customers Improves Customer Engagement.”
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Promoting
Customer
Engagement
Think Not What You Can Do For Your Customer But What Your Customer Can Do For You! – Brand Advocates
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How Balanced is Your Customer Engagement?
Customer engagement - Def.: Marketing practices that aim to create, stimulate or influence customer behaviour
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The Proposition
Balanced Interaction – CognitiveWhere Supplier and customer are both actively
seeking to complete the transaction
Supplier Customer
•Will Work to Source•Will discuss Requirements•Will help development•Will value Supplier & Brand
•Will Work to Supply•Will Respond to Change requests•Will develop product•Will value customer
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Dissonant Interaction –Supplier Advantage “Where the Supplier does very little to complete the
transaction”
•Will Go to Great Lengths to Source•Few Supply Options•Suppliers are Often perceived as lazy & inefficient•Will Search hard for alternatives
•Will Do Very Little•Impose Change•Restrict Supply•Charge a Premium•Brand Narcissism
The Proposition
Supplier Customer
Characteristic: Price Elastic Demand
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Dissonant Interaction – Customer Apathy “Where the Customer has many supplier
options” •Will be “Lazy Shoppers”•ImpulsiveRequire Instant Gratification•Have very little Brand Loyalty•Expect Product Development
•Will Work Very Hard•Be Constantly Aware of the Competition•Focus on Customer Satisfaction•Invest in Product Development & Design
The Proposition
Supplier Customer
Characteristic: inelastic Supply
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Erratic Interaction – Disconnect “Where the Customer has many supplier options”
•Will Not Know Where to Go•Will Do Extensive Research •Will be Dissatisfied•Brand will be Affected•Confused Propositioning•Erratic Buyer Pattern
•Will have No Clear Marketing Strategy•Will rely on Generic Demand -Push•Will Experience Waste•Further Devalue Brand Equity
The Worst Part of the Disconnect is that people will fill the unknowns with assumptions
The Proposition
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Supplier Customer
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Erratic Interaction – Disconnect “How do we plug the gaps….without guessing?”
Plug the gaps with facts, take away the
uncertainty &Market without
caveats
Brand Association
Issue Focussed Brand Identity
Market Reputation
Product Differentiation
Customer Awareness &
Understanding
Customer Advocacy
Affinity Marketing with Expert Brands
Thought Leadership Campaigns via the
Media
Targeted Direct Marketing Activity
Viral Marketing Builds Stakeholder Advocacy
Customer
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Contextual Relevance
• Relevance and Engagement are delivered via Intelligent Marketing
Content to suit what we know about end users.
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Contextual RelevanceCustomer Need
Recognise Needs Product Appeal
Contextually Relevant Marketing is highly Localised and Personal
This style of marketing is not possible without Exceptional Levels of Customer Insight.
Ultimately this is about understanding your audience & then delivering Messages that are Current and Relevant
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Demand-Pull Marketing – the Solution 1
• Historically public sector organisations have concentrated on service delivery rather than the end user.
• DPM is ultimately about adapting to local demand
• DPM involves identifying the latent demand for a product or service rather than delivering a generic marketing message
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DPM Example – Latent Demand
• Anne Example Ltd - Poultry Farmers
• Problem: Erratic Payment Patterns from Primary Customer
• Symptoms: Fluctuating Overdraft Levels – Breach of banking Covenant
• How Do We Reach This Customer?
• Generic Thematic Marketing from a Brand that is Poorly Understood?
• Or, Specific DPM Activity highlighting Root Causes and Commonality!
• Marketing Content: Sector-Wide Issues with Payment Problems. Best Practice Solutions within Industry Sector. Specific Solutions available from BLNW to Help Solve Problem.
• Outcome: Proprietor Entered into Contract Negotiations with Buyer included Strengthened Contract Clauses re: Payment Terms. Joined Pressure Group to Ensure Business Segment Voices Heard.
• Result: Improved Cash-Flow.
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Demand-Pull Marketing – the Solution 2
• The marketing message is written in a way that “pulls” customers towards your proposition.
• Pull marketing strategies target customers and create awareness, interest and the motivation to respond.
• Pull marketing encourages consumer involvement. Viral distribution and supplier evangelism – this depends entirely on how good you are!
• Pull Strategies generate strong positive opinions of the supplier and their proposition enhancing Brand Awareness and Understanding
• It is essential to energise your chosen market. The Viral nature of this type of Marketing Activity can generate huge expectation levels.
• “Demand-Pull” has three Key Benefits:
1. Low Cost Lead Generation.
2. Responsive, Relevant, Current and On-Message Marketing.
3. Customer Retention & Brand Evangelism.
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Truism No. 2: Good Decisions Are Impossible To Make Without Intelligent Data
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How Did We Acquire the Data to Engage with Our Customers
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We integrated the Business Link universe and Experian’s National Business Database
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Consolidates North West Business
Universe
406k
111k
Section of database unique to Business Link – Lifestyle and Grey economy businesses
Section of database unique to Business Link – Lifestyle and Grey economy businesses
We integrated the Business Link universe and Experian’s National Business Database
19k
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Consolidates North West Business
Universe
406k
111k
We integrated the Business Link universe and Experian’s National Business Database
19k
Of 150,000 Customer Interactions in the last 18 Months - 120,000 (80%) came from Experian Records
Why?
BLNW Prospect Universe
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Truism No. 3:
If Segmentation and Context = Relevance
Customer Interaction occurred because we delivered Contextual Relevance for the
Businesses we contacted
then by definition
Relevance = Engagement
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Context: Delivering Support to Businesses in the Current Economic Climate
• Problem 1: Identifying Struggling Businesses
• Problem 2: Finding them early enough. There are No Second Chances in a Recession!
• Problem 3: Economic Impact on Key Business Segments. How badly have they been and what is the likelihood of Commercial Failure? Can Business Support can make a difference?
• Problem 4: Policy Makers don’t have context to Make or Measure the Impact of Policy
• The Answer: Commercial Risk Data is available that offers up-to-the-minute, granular information on the Risk of Commercial Failure – Experian’s Commercial Risk Profiling System offers this service.
• The Outcome: The ability to Trend this Data means we can flag companies that are in decline as well as those experiencing growth. We can also highlight which of these companies have received business support and are now experiencing recovery.
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Risk Category Description
Failed/serious adverse info Administrator or receiver appointed, bankrupt proprietor, dissolved business
Maximum risk High value of unsatisfied CCJs, accounts overdue, start-up business with adverse data, proprietor with adverse data or maiden accounts show loss
High risk Large company with weak balance sheet, medium sized firm with very weak balance sheet, combination of above average risk features, start-up with adverse trading
Above average Large company with very weak balance sheet, medium to small firms with (high levels of credit search, payment difficulty, weak balance sheets), start-up firm without adverse information
Below average Large business with weaker balance sheet/modest loss, SMEs with steady trading, small firms with directors with good record, no adverse data
Low risk Well established, accounts filed, mid to large firms with £1m of assets and £5m of turnover, good record, directors with strong records
Minimum risk Large well established firms, strong balance sheets, low value of public information
Commercial Delphi Risk Categories
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Very Low Risk Low Risk Below Average Risk
Above Average Risk High Risk Maximum
RiskDissolved/
Serious Adverse Info
North West 7.76% 11.62% 23.37% 22.88% 11.31% 20.16% 2.91%
Merseyside7.50% 9.50% 20.03% 24.32% 12.11% 24.01% 2.53%
Warrington & Cheshire 7.17% 10.62% 23.82% 20.80% 15.32% 20.79% 1.48%
Cumbria 11.67% 16.65% 29.24% 24.19% 6.80% 10.28% 1.18%
Lancashire 8.45% 14.20% 27.70% 24.77% 8.31% 14.24% 2.34%
Manchester 7.07% 10.74% 21.31% 21.94% 11.57% 23.06% 4.31%
The Commercial Risk Profile of the North West
This information is based on data provided by Experian. The data has been subject to further analysis by Business Link North West.
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Very Low Risk Low Risk Below Average Risk Above Average Risk High Risk Maximum Risk
Dissolved / Serious Adverse
Information
7.76% 11.62% 23.37% 22.88% 11.31% 20.16% 2.91%
Very Low Risk Low Risk Below Average Risk Above Average Risk High Risk Maximum RiskDissolved / Serious
Adverse Information
7.50% 9.50% 20.03% 24.32% 12.11% 24.01% 2.53%
North West
Merseyside
Sefton
Very Low Risk Low Risk Below Average Risk Above Average Risk High Risk Maximum RiskDissolved / Serious
Adverse Information
11.4% 11.0% 18.6% 8.9% 13.7% 27.0% 1.0%
Further Segmentation Increases Relevance
This information is based on data provided by Experian and has been subject to further analysis by Business Link North West.
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Sefton
Very Low Risk Low Risk Below Average Risk Above Average Risk High Risk Maximum Risk Dissolved / Serious Adverse Information
7.16% 9.99% 21.03% 23.12% 9.43% 27.52% 1.75%
Analysis of the Sefton Segment increases relevance further
This information is based on data provided by Experian and has been subject to further analysis by Business Link North West.
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Sefton
Very Low Risk Low Risk Below Average Risk Above Average Risk High Risk Maximum Risk Dissolved / Serious Adverse Information
7.16% 9.99% 21.03% 23.12% 9.43% 27.52% 1.75%
Analysis of the Sefton Segment increases relevance further
Risk Micro Band Number of Companies Percentage
1 1,147 40.6%
2 329 11.6%
3 399 14.1%
4 576 20.4%
5 375 13.3%
Sefton – Maximum Risk Businesses
This information is based on data provided by Experian and has been subject to further analysis by Business Link North West.
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Sefton
Very Low Risk Low Risk Below Average Risk Above Average Risk High Risk Maximum Risk Dissolved / Serious Adverse Information
7.16% 9.99% 21.03% 23.12% 9.43% 27.52% 1.75%
Analysis of the Sefton Segment increases relevance further
Risk Micro Band Number of Companies Percentage
1 1,147 40.6%
2 329 11.6%
3 399 14.1%
4 576 20.4%
5 375 13.3%
Sefton – Maximum Risk Businesses
Drill into the highest of the high riskBusinesses in Sefton
This information is based on data provided by Experian and has been subject to further analysis by Business Link North West.
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Sefton
Very Low Risk Low Risk Below Average Risk Above Average Risk High Risk Maximum RiskDissolved / Serious
Adverse Information
7.16% 9.99% 21.03% 23.12% 9.43% 27.52% 1.75%
The granular view of Sefton allows us to put forwardMarketing messages which have real resonance
Risk Micro Band Number of Companies Percentage
1 1,147 40.6%
2 329 11.6%
3 399 14.1%
4 576 20.4%
5 375 13.3%
Sefton – Maximum Risk Businesses
This information is based on data provided by Experian. The data has been subject to further analysis by Business Link North West.
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So What Did We Do Next?• So we decided to Contact all the Finance and Professional
Companies
• Highlighted the 3 Current Issues in the Financial Markets that were causing concern:
• Liquidity• Trade Credit Insurance• Payment Terms from Primes
• What did we offer: Specific Advice, Access to Finance, Cash Flow Management, Business Performance Benchmarking, Loan Guarantee Scheme
• Key Point: These Products already existed. The Delivery of the Message unlocked latent demand
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Direct Marketing
Plugging the gaps 1
Need: To Achieve High Levels of Awareness and Developed
Understanding
Solution: Maximising the Take-Up of Product & Increasing
Service Consumption through Optimising Lead Generation
and Improved Customer Targeting
Plug the gaps without guessing
Customer Awareness & Understanding
Targeted Direct Marketing Activity
Customer
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Crunch Time For Bolton Businesses• Jointly branded campaign
with Business Bolton
• Key Messaging delivered to businesses within the Bolton area, about the kind of help and support available to them during the economic downturn.
• Campaign delivered via a combination of Direct Mail and eComms Channels
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Crunch Time For Bolton Businesses
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Brand Building & Enhancement
Plugging the gaps 2
Need: To Associate BLNW Brand Locally Accessible Service Offering which is Focussed on Local Need
Solution: Evolving a Strong Local Brand Identity focussed on Issues and Themes specific
to North West Businesses
Plug the gaps
without guessing
Focussed Brand
Identity
Customer
Brand Aware
Supplier
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The BLNW Brand: Guiding You On Your Journey
• Email Marketing Campaign designed to drive Traffic to New BLNW Web-Site and Knowledge Portals
• Tailored Advice on Cash-flow Management and Late Payment.
• Campaign delivered via Highly Targeted Email Broadcast and Inserts in Subscription-Based Electronic News Letter. Key element of “the Journey” Marketing Campaign
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Beat the credit crunch > Manage cashflow
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Manage cashflow: understand the essentials
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Prevent late payments
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Events Marketing
Plugging the gaps 3
Need: To Differentiate Product Offering from Other Players in
the Marketplace
Solution: Expert Coaching through Educational Seminars
at Co-Branded Events. Delivered by Acknowledged
Specialists from Market Leading Blue Chips
Associating Service Offering with Other High Visibility
Premium Brands
Plug the gaps without guessing
Product Differentiation
Affinity with Market Leading Brands
Customer
Supplier
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Survive and Thrive• Objective to engage with SME
community demonstrating that BLNW is in a good position to support business through the ‘credit crunch ”.
• Series of 11 events in Sub Regions to inspire and motivate Businesses to take action and encourage them to position themselves to survive & improve!
• Held in partnership with Key Regional Business Support Stakeholder Organisations.
• Aim to strongly affirm Key Differentiator of BLNW Quality Service Offering by associating BLNW Brand with recognised and respected Business Support Agencies.
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PR & Communications
Plugging the gaps 4
Need: to Enhance BLNW Market Reputation
Solution: Thought Leadership Campaigns Delivered through
PR & Communication
Plug the gaps without guessing
Market Reputation
Thought Leadership Campaigns
Customer
Supplier
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United We Stand• Objective to Underpin BLNW’s
positioning as leader in Business Intelligence across the region
• Demonstrate the expertise of BLNW
• Provide unique insights into the economic health of the region
• BLNW and Lancashire Telegraph campaign offers editorial, events, workshops and podcasts/webchats
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Graphic provided Courtesy of Lancashire Telegraph – part of the Newsquest Media Group
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Lancashire Telegraph launches campaign to support businesses
• “TODAY the Lancashire Telegraph launches a major campaign to help businesses fight back against the recession” – BRAND ASSOCIATION
• “New figures reveal that almost 4,000 East Lancashire businesses are staring into the financial abyss at a time of unprecedented economic hardship”. – TRUSTING OUR MESSAGE
• “The campaign comes as figures from Business Link Northwest show that 14per cent of East Lancashire companies – 3,977 – are at maximum risk of failure”. – POSITIONING OURSELVES AS THE AUTHORITY ON THE SUBJECT
• With more than 28,000 firms across East Lancashire, The Lancashire Telegraph and Business Link Northwest are looking to give them the help they need to ride out the recession. – THE HOOK
• “Business Link research shows that…….” BRAND ASSOCIATION AND AWARENESS Blackburn with Darwen has the highest number of businesses at maximum risk – 15 per cent (1,198) of its 7,950 businesses. - GRANULAR DATA CONTEXT AND ENGAGEMENT
• “The figures have been compiled by global credit management company Experian and have been built into an innovative Business Performance Index developed by the Business Link data analysis team” – BRAND ASSOCIATION.
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“It’s a great idea. We all have a responsibility to the community at a time of recession and newspapers have a great responsibility, which you are showing, to try and help businesses get all the help they need.”
David Cameron, Tory Leader
Feedback – Brand Awareness?
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“Small and medium size businesses are important because of the number of people they employ. The Lancashire Telegraph’s campaign is immensely important too because unless people work together at a local and national level to do the best for East Lancashire businesses, we will not get through this recession.”
Nick Clegg, Liberal Democrat Leader
Feedback – Brand Awareness?
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“The Lancashire Telegraph campaign is vitally important. It remains a truth that too many business people freeze when faced with difficulties and getting them to ask for help early is a must.”
Jack Straw, Blackburn MP
Feedback – Brand Awareness?
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Viral Marketing, Advocacy & Reference Management
Plugging the gaps 5
Need: Build Customer Advocacy
Solution: Building Stakeholder Advocacy Networks through
Viral Marketing
Plug the gaps without guessing
Customer Advocacy Viral Marketing builds stakeholder advocacy
Customer
Supplier
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Selling the Vision• Searching for Evangelists
• Delighting Stakeholders and Customers with Insight
• Become the Primary Source of Business Intelligence in the Region
• One Version of the Truth and One Author of Widely Circulated Data Assets
• Use of Self Replicating Viral Marketing via Effective Working Groups and Representation at Critical Policy Forums
• Nudge the Change Architects (Thaler & Sunnstein) and Be Confident in the expansive capabilities of B2B Mood Contagion
Fulfillment of Key BLNW Strategic Data Objectives:
1. BLNW Recognized as the leader on regional business intelligence and playing a vital role in informing business support policy making
2. Enhancement both Reputation and Policy Influencing Role of BLNW within Business Support Community
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The Advocacy ModelBuild Data Coalition: Communicate the
Benefits Internally
Creation of Database – customers – internally focussed
BL Management and internal data consumers
Value Chain for the North West Business Data Universe
First Phase - Create
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Viral Marketing Advocacy & Reference Management
Internal Sector specialists and cluster management teams
First interaction with third party data consumers and political oganisations
Data becomes more relevant for decision making bodies
Second Phase – Sell Benefits
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Internal Geographically dispersed bodies require data to confirm Business support activities or to quantify the impact of future plans and policies
Data becomes more relevant for decision making bodies
Sector
Viral Marketing Advocacy & Reference Management
Third Phase – Build Dependency
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InternalLocal hierarchy of business support functions demand input to decision making and assessment of economic impact.
Data becomes more relevant for decision making bodies
Sector Geography
Viral Marketing Advocacy & Reference Management
Fourth Phase – Widen User Base
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Internal
Demand for joined up information sources and “one version of the truth” among all business support organisations.
Tie together regional strategy and delivery with a system of quantifiable evidence based results
Data becomes more relevant for decision making bodies
Sector Geography Local
Viral Marketing Advocacy & Reference Management
Fifth Phase – Consolidate Business Intelligence
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Internal
Regional Data can be used to challenge and improve National directives.
Involve regional factual data in National extrapolation.
Data becomes more relevant for decision making bodies
Sector Geography Local Regional
Viral Marketing Advocacy & Reference Management
Sixth Phase – Influence National Agenda
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Re
lev
an
t E
xp
erie
nc
e
Relevant Evidence
Demand Pull
Pro
du
ct
Pu
sh
Experience + Evidence = Intelligence
Aim: Move away from
Anecdotal &Judgmental to
Evidence-based
Decision Making
Aim: Move away from
Anecdotal &Judgmental to
Evidence-based
Decision Making
Mis-Sell Inappropriate
Products
Cover-Up
Failure
Re-package Out-dated OutModed Products as New
Data Driven Marketing to Better Fit Product
and Pull Demand
If In the Land of the Blind A One Eyed Man Could Be King What Would Become Of A Man Who Was Perfectly Sighted, Had Binoculars, A Network Of Spies and Extensive
CCTV Coverage