The Need for New Customers. Where do you find them?

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Here are four examples of situations where the decision must be made about rental or license, consider these hypothetical scenarios suggested by David Gaudreau of Infogroup.

1.  A controlled-circulation trade magazine serving the business insurance industry is seeking new subscribers. 

They are not looking for buying behavior, or evidence of past purchase.

They simply want every possible middle manager in the business insurance world, and they want to penetrate the audience as deeply as possible, with multiple touches.  So they cut a deal for a multi-usage license with owners of lists based on firmographic data, pulling all the names at particular companies with particular titles.

2.  A seminar promoter wants to find new attendees, and the best way to identify prospects from a large database of business people is via modeling. 

So they import a large number of names under license, building predictive models, and then mail the most promising prospects.

3.  An office products company knows that response lists are most productive, but needs to augment the available universe of names to optimize its catalog production volume. 

So they take compiled names on a rental basis to round out the mail quantity.

4.  A marketer targeting the machine tools industry wants to be sure it has every possible target site and all possible contacts at each site on its database for ongoing marketing purposes.

So it brings in compiled data, matched first at the site level and then at the contact level, experiencing a 65-70% match rate against its house file, and populates the database on a three-year licensing basis, paying per element matched.

Each of these methods gives you additional insight into both your customers and those who you might want to be customers.  Enriching your current data sources is a great way to better understand exactly who your best customer really is.

Related articles:

5 Top Trends in Data Management – For the Next Decade

Finding the Right Data Resource: Asking the Important Questions

How to Sell More Customers

Theresa Kushner
Theresa Kushner
Theresa Kushner is a self-styled data-vangelist who brings her passion for all things data into her consultancy. Having held positions in F100 companies for most of her career, she now dedicates her time to helping start-ups and small/medium businesses scale using their customer information. She applies the skills she acquired as an executive at Dell EMC, VMware, Cisco Systems and IBM to help leaders apply data governance and 21st century data management techniques to their business intelligence and advanced analytics programs. She helps companies determine whether they are ready to take advantage of advanced techniques such as artificial intelligence, machine learning and robotic process engineering. She also helps guide companies in using more effectively for customer experience the data they collect on a daily basis. Ms. Kushner co-authored “Managing Your Business Data from Chaos to Confidence” with Maria Villar in 2009 and 2015 collaborated with Ruth P Stevens on “B2B Data-Driven Marketing: Sources, Uses, Results.” Ms. Kushner is a graduate of the University of North Texas where she received a Master of Arts in Journalism. She serves on the Advisory Boards of UNT Mayborn School of Journalism as well as data.world.

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