April 22, 2016
No company can run a successful marketing campaign without relevant marketing data. Most failed marketing campaigns have three things in common, irrelevant data, wrong targeting and non-personalized marketing message. Companies worldwide waste billions of dollars screwing up their marketing campaign.
We are working on leadintel, a platform that helps sales and marketing professionals to close more deals. We are running a private beta with a small group of companies.
Here is a latest project we’ve completed and we thought is is worth sharing the learnings we’ve had.
Case –A company selling finance software to was having trouble making enough appointments for their sales team. The newly appointed VP of Marketing immediately identified that the data in their CRM was outdated and their campaign targeting was dead wrong. They contacted Datahut to get data for the marketing campaign.
Diagnosis – We analysed their existing CRM data and identified the following problems.
1) More than 60% of the marketing data is inaccurate.
2) The contact person in many cases was the wrong one. ( Eg. You don’t sell financial software to CTO)
Further examination of the data revealed a crucial discovery. CIO’s were also involved in the decision-making process and they spent more time evaluating the software than the CFO.
Solution-We’ve decided that instead of sending 15000 random emails, it is better to send a 1500 emails to a highly targeted group.We have aggregated highly curated database of B2B decision makers, We aggregated this data from partner channels, API’s and more than 100 publicly available websites .We extracted profile data’s of CFO’s from these sources and enriched it using Leadintel, our lead enrichment platform. After the enriching process, we had around 1500 CFO contact details that fits their ideal buyer profile.
Note: The same process can be used to find any CXO level contacts .
Results– They run the marketing campaign again and got exciting results in the period of 3 months.
1) The response rate was 4.7 times more compared to the last campaign .
2) They closed 3.1 times more deals compared to the last campaign
3) The average deal size went up by 28.8%.
4) Sales cycle was reduced by 23% on average.
According to the latest reports, Professional social networks and online directories have more than 500 million active users worldwide. The high level of engagement of users generates a lot of useful data . This is a goldmine for smart data-driven marketers.
Want to know how we did it? Shoot an email to firstname.lastname@example.org