Author Archives: Sam

Account Based Marketing

Account based marketing: is it hype or the future of marketing?

This form of marketing involves communicating with individual customers and treating them as their own individual market, carefully tailoring efforts to ensure the highest chance of success with that specific target; providing the ultimate in marketing.

ABM has its benefits in the reduction of overall cost as although it costs more to communicate with each account, you will likely be advertising to less as the success rate will be higher. By using appropriate content and messaging those that you do advertise to have a higher chance of choosing to buy as the messaging that that account receives will be much more appealing to them than mass marketing.

The first step in ABM is identifying which account, or accounts, you wish to target. Certain businesses are better targets than others, for example a business that used to buy from you but recently has swapped to another company. From here a specific plan must be created for each individual account. By getting data about the people you are targeting you will be able to create a profile for each account. This profile will aid you in creating a more personalised marketing plan that will be more likely to succeed as you will be able to gauge what will be most appealing to that account more accurately. Also identify what methods of ABM you can carry out. This could be a number of things from direct mail to making one of your webpages change when a specific account accesses it. Once you have started this process it is important to measure your success regularly so that you can adjust your plan if necessary and further increase your chances of success.

1 Stop Data can provide you with the valuable information that is needed for a successful ABM campaign. With a wealth of experience in Account Based Marketing 1 Stop Data is the global preferred supplier for the essential attributes needed for success including full contact profiles, with social media links, company demographics, and enhanced contact information.

To put it simply it is essential to have the right contacts with all possible communication routes plus industry and size targeting to get the right content to the right people and most importantly ensuring you have the most accurate, compliant data for you ABM.

Contact: +44 (0) 208 786 9111

Author: Sam@1StopData.com

Sales: Richard.Wade@1StopData.com

How Big Data Analytics Can Help Your Business

What is Big Data Analytics?

Big data is a term used to describe large volumes of data that could be structured, unstructured, or semi-structured. Big data also updates very quickly, often in real time, and contains many different types of information. It is because of these factors that different ways of analysing this data must be used. The analysis of the data can show trends and correlations that would have been invisible otherwise and these findings can lead to changes within a business that can give them the edge over their competitors; ultimately boosting profits and customer satisfaction. The most valuable use of Big Data in our market is to target the right customers, leveraging information to offer the right product to the right person at the right time.

How is the Data Analysed?

There are several ways that the data can be analysed including:

  • Data mining – Involves looking for patterns that can connect two events in a number of ways. For example if one event happens it causes another event to happen.
  • Text mining – Involves looking through text based sources of data such as social media sites and word documents in an attempt to find potentially useful information.
  • Predictive analysis – A form of data mining that looks at any number of variables to attempt to determine the behaviour of something in the future.
  • Statistical analysis – Involves looking at the relation between the data gathered and how that data relates to the population it was gathered from, while testing the validity of the gathered data.
  • Matching communications responses to demographics on a large scale to test channels and methods.

How Does This Help Businesses?

The analysis of big data can have many benefits for businesses, largely getting to their target market at the right time.  This allows for higher volumes for targeting, increasing profits as the information needed is available much faster and more efficiently. Customer satisfaction also gets a boost from big data analysis as the rapid processing of data gives detailed and current information about what customers thinking, both in terms of your business and what customers are interested at that moment in time, making it easier to give the customers what they want.  However Big Data should not stand alone. All hypotheses should be tested and retested to ensure that the results are correct. As with Big Data you can have Big Success or equally Big Errors without a sanity check.

1 Stop Data can provide the precise data you need to back up your analysis so you can make the right decisions for your business.

A Brief Overview of the GDPR

What is the GDPR?

GDPR – General Data Protection Regulation – is the new EU regulation intending to combine and strengthen data protection within the EU.  This regulation was made on the 27th of April 2016 and is due to come into effect 25th of May 2018, giving time to adapt to the changes. GDPR will replace the outdated Data Protection Directive which has many gaps in it as a result of the rapid advancement of technology since 1995, when the directive was made.

The GDPR will cover all countries that process or hold the personal data of EU citizens, whether that country is a part of the EU or not. This means that Britain will still have to abide by the laws of the GDPR despite the result of the EU referendum at the end of June.

Most important changes

Some of the more important changes to legislation as a result of the GDPR are:

  • The fines for not complying with the laws can reach a maximum of 4% of the businesses global annual turnover or up to €20,000,000. However for the first accidental infraction only a warning would be given.
  • Data protection must be designed into the business services themselves, allowing for data protection to be carried out from start to finish of the involvement with the customer.
  • Multinational companies that operate across the EU will need to employ a data protection office independently that is able to manage both the IT systems, and be familiar with the legality of the GDPR.
  • All personal data must be able to be erased at will if a client requests that they no longer wish you to be in possession of their details. Once a request is made there will be a time period of a month to erase the data.
  • Clear consent must be given for any personal data that is to be collected and processed. This will need to be consent from the child’s parents if they are under 16 years of age. This consent can be withdrawn at any time.

How to deal with the GDPR

The GDPR will start to be enforced on May 25th 2018, so companies currently have just under two years to ensure that they are GDPR compliant by the time the regulations come into force which should be enough time for an accurate evaluation of the current systems in place and to implement any changes that need to be made. It is important to ensure that all data held by a company has a known source, as well as a way of determining the age of the person data is being collected from along with a form of consent to allow for lawful data collection or transfer. It is also necessary to ensure that all security protecting data is strong enough to meet the requirements for the GDPR as stronger security methods will be needed.

One of the easiest ways to prepare for the GDPR is to ensure that you are sourcing your data and telemarketing needs from a reputable, reliable, and transparent company as this will check many GDPR boxes. The company would have to be GDPR compliant, making sure that consent was already gained and that much of the required data protection is already built into their services. Sourcing your data from a company with these features will save you a lot of time, allowing you to focus more on other parts of the GDPR that may be more challenging to implement.

Predictive coding technologies can also be used to ensure that only the required information is gathered, assisting with ensuring that data protection is designed into the services themselves. This technology can also be used to make deleting any personal information a much more efficient and thorough process.

The employment of a data protection officer as soon as possible would also aid preparation greatly as not only would it fill a requirement of the GDPR, the officer could make an early assessment of processes and systems to test for compliance.

Summary

As technology changes so must the legislation, so while the GDPR may make some processes more difficult for a large number of businesses; it is a necessary step that must be taken to protect the ever growing amount of personal information that is available online from people who could use that data for harmful purposes. It will become even more important to make sure that your data comes from a reputable and reliable source as time goes on as the volume of data available increases, most likely along with new regulations as new technology is developed. At 1 Stop Data we are working to ensure that we maintain a high level of data protection so that we are well within the standards required by the GDPR and we can continue to provide the safest and most reliable data possible.

10 Top Telemarketing Tips From 1 Stop Data

Telemarketing is an important part of any marketing campaign, allowing for a more personal connection than any other media as well as an opportunity to get feed back that your target market may have. Therefore it is important to ensure you have in place best practice.

  1. Always plan your calling: Use properly identified warm leads – those generated by a reputable lead generation company will mean that your time is spent on potential customers rather than researching
  1. Establish rapport:  Rapport can be built by using natural language, ensuring you have some background information about your potential client you can refer to in the call.
  1. Be in a distraction free environment: When using telemarketing ensure you have a professional environment and professional equipment. Poorly working VOIP calling can give a bad impression.
  1. Be as concise as possible: Getting your point across as quickly as you can with the smallest number of words will help as it lowers the chance of your potential client becoming disinterested increasing the chance of a successful call.
  1. Have a loose script: Having a loose script will help for outlining the main points of the call but avoid having a rigid script that you follow to the letter. This can make you feel like more of a sales person than a business partner and make it more difficult for you to answer questions.
  1. Have the right numbers to call: Make sure you are calling the right people. For accurate phone numbers use a reliable source. The cost of the time calling is too high to use inaccurate or unavailable numbers.
  1. Have a good offer: Have an offer for your potential client, make it worth their while talking to you. Whether it’s a limited discount, a white paper or a prize draw it helps the call to go better if you don’t go in empty handed.
  1. Keep a record of your calls: If you have call recording all the better. Keep a record of your call and a note of the outcomes. There is nothing worse than calling the same person twice with the same script.
  1. Ask for referrals: Asking if anyone else within the company could possibly need you could possibly land you with some more business or potentially turn an unsuccessful call into a successful one if the person you called originally is not interested but knows someone who would be.
  1. Always follow up: After you have made a call to a potential client it is important to call them again soon after to make sure you reinforce their interest.