growing your database responsibly with third party data
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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
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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
www.act-on.com | @ActOnSoftware | #ActOnSW
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
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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
www.act-on.com | @ActOnSoftware | #ActOnSW
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 • [email protected]
• Dave Scott• Founder & CEO • [email protected]