1

Marketing Lead Data: Five Steps to Higher Revenue

July 20, 2011David M. Raab

Raab Associates Inc.

2

Data Problem? What Data Problem?

• top 3 marketing problems: technology, resources, process (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

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%)

4

Root Causes• poor data capture• user-provided data

• less sales involvement• recycled operational

data

5

Solving the Problem: 5 Step Program

1. Set a Baseline2. Organize for Action3. Make Improvements4. Measure Results5. Repeat as Needed

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

7

2. Organize for Action• governance• cross-department

team

• executive sponsor

• departmental data stewards

• select projects• set goals

• define metrics

• track and report

8

3. Make Improvementsinitial 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

9

4. Measure Results• always compare to something • goal, history, industry benchmark

• make results accessible• dashboard, variance reports

• measure types• effort (costs, processing volumes)

• results (changes, error rates, usage, attitudes)

• business value (lower costs, more leads, higher revenues)

10

5. Repeat as Needed

• (it’s always needed)• identify new

opportunities• avoid back-sliding

(maintain previous improvements)

• on-going baseline measurements

11

Tools Can Help

• data cleansing• name/address

standardization, matching, reference data

• real time validation• periodic refresh• no silver bullet

12

Conclusion

• quality pays• integrated

systems magnify the value

• quality programs set the stage for additional cooperation

13

Thank You.David RaabRaab Associates Inc.draab@raabassociates.comwww.raabassociatesinc.omTwitter: @draab