Press releases & Information
Got any question about GCL’s Revealing Your Customers Darkest Secrets article? Some of our readers did so we decided to share the answers from 5 of the bests questions:
What data do you need to begin the profiling exercise?
You really need very little data to begin with. The key thing is to understand your target market and what type of businesses are likely to want your products or services. It is also not a problem if you don’t have a list of these companies to begin with as any good data company will be able to provide you with a basic list of segmented company details.
What’s the point in profiling companies, why not just run a lead generation campaign from cold data?
A well run profiling campaign will also act as a lead generation campaign, by having your sales head on whilst doing your research you will be able to unearth opportunities as you go. The key is to know what to do with a lead when you find it, for example it is no good sitting on it for a week when it should have been passed onto the sales team straight away. Research has shown that 35 – 50% of sales go to the vendor that responds to a prospect first.
The added bonus of a profiling campaign is that not only will it identify leads but it also allows you to build an accurate contact base and to find out where prospects are in their buying cycles. This kind of information can then be used as part of your prospect nurturing process to produce sales in the future. If you would like to find out more about nurturing your prospects we have produced a handy guide.
What’s the difference between profiling and other market research?
Profiling is a very specific type of market research as it looks at specific details for individual companies. Where other forms of market research may be used for product development or financial forecasting purposes, profiling can lead directly to sales from target companies.
Profiling is best used on those companies that are at the top of your target list who you are prepared to nurture in order to get those high value sales.
How long does it take to build a profile for a company?
The time it takes to build a full company profile depends on the size of the target company and type of information you require. However, on average you should aim to spend 40% of your time researching the company online with the remaining 60% spent finding and talking to the correct contact. Don’t forget that it will also take time to plan the campaign and to collate the data at the end of it.
What is the average lifespan of the collected data?
All marketing data should be refreshed on a regular basis as it degrades rapidly. In an average database contact data will degrade at a rate of approximately 30% over 12 months, it will be slightly less for company details. Without regular cleansing you risk becoming disconnected from the prospect. This is where understanding how to nurture prospects can help you stay engaged with your prospect base and secure sales longer term.
When profiling is carried out effectively it can provide critical insight into your key prospects and is an essential part of any long term sales strategy. If you have any questions about profiling or any of our articles get in contact or join the debate on Social Media.Posted in Info | Data Profiling Comments Off February 26, 2015
What is the next big thing in Marketing Technology? Always keen to stay ahead of the game GCL Direct’s Head of Data went along to the TFM&A event at the London Olympia to find out what the future has in store.
The world of marketing has changed dramatically over the last 5 years with digital and content marketing increasingly encroaching on the world of direct marketing. This overlap was certainly in evidence at the TFM&A event with Marketing Automation tools capable of delivering personalised content directly to prospects dominating the stands. However, there is an increasing distinction between large enterprise style automation providers such as Oracle and Marketo and those providers such as CommuniGator and SharpSpring who offer similar services but at a scale (and price!) far more suitable for SMEs.
Dotted around the show were interesting innovations such as BriteVerify that use mailbox interrogation software to provide a more reliable form of email address verification than the traditional domain checkers.
As usual our B2C colleagues claimed the most eye catching innovations with customer recognition software for personalised ad boards and augmented reality solutions to aid consumer visualisation of their potential purchases.
It isn’t just the tech companies at the forefront of these changes, organisations such as the DMA (who GCL are proud members of), the IDM and publications such as B2B Marketing and Data IQ were in attendance and leading the discussions on the big changes happening in our industry.
It was great to meet and speak to so many people who had great ideas about how technology can help us as marketers make campaigns more relevant to our prospects.
Posted in Blog | Marketing Automation Comments Off February 24, 2015
What do you do when your prospect isn’t ready to buy?
Not every prospect you reach out to will be in a sales ready position the exact moment you contact them, many of them may not be ready to buy for weeks, months even.
But this doesn’t mean you should forget about them. Once you have gone to the trouble of identifying a prospect it is worth the effort to keep in contact and feed their interest. The majority of sales take place between the 5th and 12th touches, this means it may take months to get that sale! So how do you keep prospects interested until they are ready to buy?
There are a number of methods you can use to nurture a prospect but essentially it is about building a relationship with the person and looking out for the signs they are ready to buy. In our latest Best Practice Article we explore the most important aspects of building this relationship and how to spot the signs that the prospect is ready to buy.Blog | Nurture Comments Off ← Older posts