Gartner estimates that poor data quality is a primary reason for 40% of all business initiatives failing to achieve their targeted benefits. Our work with customers shows that 30-50% of customer data is either incomplete or inaccurate. According to HBR post, "it costs 10 times as much to complete a unit of work when the input data are defective as it does when they are perfect."
Diagnose your customer data. Share your sample data securely. Assess how much of your data is incomplete or inaccurate. Right the wrong data.
Enrich your data. Run your customer data against our growing library of over 100 million of signals. Enrich with as many as 500 signals per customer.
Build new markets. Define your target market – geography, industry, size and signals that you may be looking for in your target customers. Get accurate and enriched market data.
The average conversion rate (from lead to opportunity) by acquisition channel across all Marketo customers shows that email has 0.19% conversions whereas social media has 0.66% conversions. The average conversion rate across all channels is about 1%. Our research shows that Predictive analytics and Machine learning helps improve conversion rates by an average of 50%.
Customer insights to make decisions. Learn about customers in your target market – geography, industry, size. Understand trends and signals in your target market. Decide on which customers to act now or nurture or evaluate based on propensity and intent.
Turn on your Customer GPS. Understand buying signals generated by your customers before buying. Identify who maybe looking for your products and why. Chart the path to win the customer.
Account based Marketing. Tailor your message based on the signals generated by your prospective buyers. Plan your campaign execution based on the likeliness to buy.
CMO.com highlights many customer metrics that marketers experience. According to Marketing Metrics, the probability of converting an existing customer is 60 percent to 70 percent. Data from Laura Lake shows that repeat customers spend 33 percent more compared to new customers. The cost to add value to the existing customers with additional products in the portfolio is significantly lesser than to acquire newer customers.
Identify your best customers. There is a lot of quality data about your existing customers. Analyze usage patterns to identify your best customer fans. Assess potential customer lifetime value.
Upsell and Cross sell opportunities. Enrich internal data with external signals and apply Machine Learning to identify who is ready to buy more from you. Win them over before they move to your competitors.
Account based Marketing. Tailor your message based on the opportunities and signals generated by your prospective buyers. Plan your campaign execution based on the likely to cross-sell and upsell.