Infographics

Data Quality Services Only Fix Data Hygiene Issues

There is no shortage of data quality tools, software and services. But all current data quality services fix only data hygiene issues such as data standardization, cleansing, de-duping, and enriching. None fix the B2B data decay problem caused due to employment churn. This is unaddressed quality problem has huge impact on B2B marketing campaign. Lester's Data-as-a-Service solution - Monitor, Discover and Grow - is filling this void. This Social Media based data quality service is unique. As of now, we know of no other service provider with a similar offering.

Data Quality Decay Impacts Performance of All Outbound Marketing Channels

B2B data decay or obsolesence has a huge negative impact on performance of all outbound marketing channels - email, direct mail and telemarketing. B2B data decay lowers retention rate and increase acquisition cost. This chart shows the results of an illustrative telemarketing campaign to renew paid magazine subscribers. In this telemarketing renewal campaign as much as 25 percent of the customers are lost because they have moved to another company. For large campaigns, manually detecting these moves and reconnecting with existing customers is not only cumbersome but often not possible. This is the need that Lester's data-as-a-service offering - Monitor, Discover, and Grow - are filling.

Fixing B2B Data Decay Key to Reducing New Customer Acquisition Cost

B2B marketers have to rely on third-party purchased data lists (from "traditional" data compilers) to build prospect funnel for new customers. This third-party B2B data list is often the only way to fill in the hole from losses in renewal and reactivation campaign. Unfortunately quality of third-party data from compilers is often poor. It is not uncommon to find 25 to 30 percent of the data records obsolete. Because of this high-level of data obsolesence, the cost of data and marketing for new customer shoots up due to poor data. Contacts and prospects are not reachable degrading performance of email, telemarketing, and direct mail campaigns.

Leverage Social Media to Improve Performance of Direct Response Campaigns

Monitor, Discover and Grow - Lester's new Data-as-a-Service offerings are changing the B2B marketing paradigm. By overcoming key hurdles impending performance of B2B marketing, these services are unleashing huge improvements in customer retention and acquisition. These data services leverage social media to fix B2B data decay - a major drag on direct response marketing campaigns. The result is improvements in customer retention and lowe customer acquisition cost.

The Applications of Monitor, Discover, and Grow

Applications of Monitor, Discover, and Grow are numerous and span the entire gamut of B2B marketing. Conference & Event Registration, Account Based Marketing, Top-of-Funnel Lead Generation, Association MemberAcquisition, Training and Certification Programs, Newsletter and Magazine Subscriptions, Webinar Registration and Activation.So let not dirty data impede your marketing performance. Give us a call to learn more about Monitor, Discover, Grow – Lester’s breakthrough data service solution.

MDG Results by Industry and Data Type

To date, customers across a broad range of industries have deployed Monitor, Discover, and Grow. And the results have been positive. Typical match rate - the number of records in the data file matched with social media profiles – is in the range of 45 to 55 percent. And the reactivation rate – the number of customers or prospects retained or renewed is in the range of 20 to 30 percent. By tracking and reconnecting with inactive, unreachable, bounced, or expired customers or subscribers, Monitor, Discover and Grow have delivered tangible and measurable improvement in retention.