1. Marketing Lead Data:
Five Steps to Higher Revenue
July 20, 2011
David M. Raab
Raab Associates Inc.
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2. Data Problem? What Data Problem?
• top 3 marketing
problems:
technology, resources, pr
ocess (what about
data?)
• 2/3 of prospect data is
less than 75% accurate
(vs. 1/3 of customer data)
• data decays at 2% per
month
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3. Why Data Problems Matter
• your new marketing
automation system
will fail (the boss
won’t be happy)
• your email won’t get
delivered (or, even
worse, it will)
• opportunity costs
(wasted acquisitions,
lost revenue)
• salespeople won’t
follow up (55%
blame missing data;
next-highest reason
is 14%)
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4. Root Causes
• poor data capture • less sales involvement
• user-provided data • recycled operational
data
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5. Solving the Problem: 5 Step Program
1. Set a Baseline
2. Organize for Action
3. Make Improvements
4. Measure Results
5. Repeat as Needed
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6. 1. Set a Baseline
• research existing data
• select key elements
(one word: email)
• test for dupes and
errors
• consider the source
• document update
processes
• identify opportunities
for improvement
• define value and
prioritize
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7. 2. Organize for Action
• governance
• cross-department
team
• executive sponsor
• departmental data
stewards
• select projects
• set goals
• define metrics
• track and report
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8. 3. Make Improvements
initial projects: simple,
low cost, measurable
• input: data capture, user
registration, progressive
profiling
• import: processing rules,
source priority
• external data: validation,
enhancement, refresh
• process: sales and
marketing coordination,
training, feedback
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9. 4. Measure Results
• measure types • always compare to something
• effort (costs, processing volumes) • goal, history, industry benchmark
• results (changes, error
rates, usage, attitudes)
• make results accessible
• business value (lower costs, more
leads, higher revenues) • dashboard, variance reports
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10. 5. Repeat as Needed
• (it’s always needed)
• identify new
opportunities
• avoid back-sliding
(maintain previous
improvements)
• on-going baseline
measurements
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11. Tools Can Help
• data cleansing
• name/address
standardization, matchi
ng, reference data
• real time validation
• periodic refresh
• no silver bullet
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12. Conclusion
• quality pays
• integrated
systems magnify
the value
• quality programs
set the stage for
additional
cooperation
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13. Thank You.
David Raab
Raab Associates Inc.
draab@raabassociates.com
www.raabassociatesinc.om
Twitter: @draab
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