Data, Data everywhere but… woah, be careful which drop you drink! With thousands of companies in the market that sell data, it is becoming very evident that not only is it IMPERATIVE to have big data interwoven into your marketing efforts, but its also crucial that the data you end up securing is the RIGHT data.
With the massive influx of data-buyers to our market, each buyer has his ideal list. Some may rely on a lead list rich with titles and company information, while others may rely heavily on lists that include fields such as groups/university/skill sets. As an ambassador to the data industry, I can comfortably say that I have witnessed the full gamut of requests for how to segment data…whether its brand new data or existing data that needs appending. All we really want to know here is more about our buyers. The more we know, the warmer the call, and the closer you are to closing the deal. However, what we are starting to see is that some marketers get half of what they think they need and then run with it and never look back. Slow down Mr. Marketer- you know the first and last name of the person you are calling, perhaps you know their email and maybe you even know their alma mater. Those are all great bits of information to have, but what about the rest? A huge issue that marketers are running into today is a true lack of understanding about how much information is available and how even the smallest bits of information can be beyond valuable. So what’s ‘the rest’? …Well the rest is all of the information that marketers fail to see as valuable, or maybe they know that its valuable but don’t realize that the data is out there.
One piece of information that too often goes overlooked is installed software data…and this could be your new secret weapon. Knowing someone’s alma mater or their title, or previous position, or income level could turn out to be almost useless in the place of installed software data intelligence… especially if you work for a software company! For example, if you work for a company that sells CRM software, imagine having access to a list of contacts/companies that all use your biggest competition’s software. You know that the decision maker at that company chose to use X software instead of the software that your company sells. It is well worth the effort to give the decision maker a call and ask why his organization chose to use X software. What is the best part of using X software? What is one thing you wish you could change about X software? Installed software intelligence can be your key to closing.
It is also immensely valuable to have intelligence on complementary installed software data. For instance, if you still work for the company that sells CRM software, take a shot at calling companies who use a software that integrates with yours or that works well in conjunction with yours. You might not know that Mr. Decision Maker went to Purdue, but you know that he uses a software that integrates with yours and all it takes is the click of a mouse to link the two software…oh, and maybe a signed check from Mr. Decision maker. Half of the selling work is done; you’ve overcome a common objection and saved yourself some time.
The bottom line here is to strive to have the best data available. Who needs a 2 billion-person lead list to call when only 10,000 of them are targeted and qualified?…no one, because it’s a waste of time! Save your sales team and strengthen your marketing efforts by actually reaching your target audience without going on a wild goose chase. Finally, of course you need to have the best data, but keep that data clean! Today’s workforce is as transient as ever so be sure to cleanse your lists regularly, at least once a quarter. There’s no need to waste more time by calling contacts that have changed jobs.