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CMO/Marketing Strategy • Demand Generation • Product Marketing
It has been firmly established that data quality has a direct correlation to the success (or failure) of marketing and sales efforts. Data acquisition – the precursor to all database creation – wields tremendous influence over BtoB pipeline quality, campaign effectiveness and ultimately, revenue performance. Marketers are starting to scrutinize data sources, separating reliable feeder channels and methods from the unreliable.
Data acquisition policy and strategy are slowly taking shape. The reality for many marketers is that data acquisition strategy is either inadequate or completely absent and that much list rental/purchase activity is mired in pre-automation practices. However, progressive firms are making breakthroughs using efficient new models of third-party list/contact acquisition. Research indicates that marketers will increase spending on third-party data in 2012.
However in a recent Customer Data Acquisition survey: The Keys to Effective List Management states that ” Despite the rising cost and importance of customer data, only 11% of respondents said they are able to manage it very effectively.” Brian Kardon, Chief Marketing Officer of Eloqua states “The traditional list business is undergoing rapid change. First, there are many new sources and technologies for acquiring names: web scraping, social media, and all forms of inbound marketing are changing the landscape. Second, consumer behavior and attitudes around privacy are changing. Global marketers must understand and comply with regulations that vary by region and country.”
With so many new factors compounding data disarray, marketers are looking for guidance. The four best practices for data acquisition and list building are:
1. Assign ownership of data acquisition and management to a person or team.
2. Have a defined set of attributes for contacts you need to acquire data on – this leads to much more effective and efficient buys.
3. Don’t use a single data source – gather data from a portfolio of sources and this will improve your ROI.
4. If you don’t understand the differences between data sources – or the data acquisition market in general - use third party expertise to bridge the gap.
For a full report on how new technologies can help reinvent list building with innovative methods for sourcing profitable prospects, download The 2012 Data Acquisition Report at: http://www.oceanosinc.com/data-acquisition-report-2012
As the president & founder, Brian Hession has propelled Oceanos to become the industry’s largest, independent, B2B data research and management firm. Oceanos provides custom data solutions to optimize sales and marketing performance, guided by its vision of list intelligence™. The result is a robust, repeatable, demand creation engine.VN:R_U [1.9.7_1111]Just released! 2012 Data Acquisition Report,
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