The Future of Data-Driven Sales and Marketing

The Future of Data-Driven Sales and Marketing

Forest Cassidy

Co-Founder and CEO

LeadFerret.com

Forest Cassidy

Co-Founder and CEO

LeadFerret.com

In this Webinar…• Refresher on the history of data-driven marketing• History repeats itself• Smart companies learn from history• Social media is the future?• Social media is the new email (learn from email history)

• Social media = Bigdata• Who should get into the business of Bigdata?• How to get started today• A plan• 5 years from now

History of data-driven marketing

• Direct mail: – Initially only list rentals (3rd party bonded mailing houses)– Initially direct mail is a process, not an asset– Smart companies build their own databases– Smart companies start to use CRM solutions

• Email: – Initially only list rentals (no data asset)– Initially email is a process, not an asset– Smart companies collect emails, build email databases– Not so smart companies have to play catchup later– Today a database without emails is almost useless

• Marketing automation:– Automate many marketing steps and even some sales steps– Email is the primary connection point– Social media has some integration, but still more of a process than

an asset

History repeats itself

• Early: – Marketing is a process, not an asset– Rentals, 3rd parties control assets– Not seen as core competency, better to outsource– Lack of control– Expensive cost per connection– Valuable data assets not built in-house

• Middle:– Smart companies collect data– Smart companies make investments in building data assets– Smart companies see marketing as more than just a process– Not so smart companies fall behind

• Late:– Smart companies are ahead of the game, leaders in their industry– Not so smart companies finally take action

• When a new medium emerges, repeat.

Smart companies learn from history

• Marketing should build an asset, not just be a process

• Collect data early, even if you are not ready to put it to use

• Make investments in building data assets– Even when it seems to make more sense to outsource

• Always think about how you will communicate with the next generation of clients and prospects

• What can you do now to prepare to communicate with clients in 5-10 years?

Is social media the future?

• Will social media replace email to the extent that email has replaced direct mail?

• Yes!

• This does not mean email will go away (direct mail has not)

• Marketing automation will be the key to email

• If social media is the new email, what can we learn about how email replaced direct mail?

What can the history of email teach us about social media?

• Don’t just think of social media as a process, but as an opportunity to build an asset– Even if you are not ready to use the data, collect it

• Invest in building and managing your own data, even if it seems to make sense to outsource

Social media = Bigdata

• Average person has 3 social media profiles

• Social media profiles are rich in information

• Daily posts, pins, tweets, updates, etc.

Who should get into the business of Bigdata?

• You!

• Eventually we will all be in the business of Bigdata

• The only difference will be that some companies will be ahead of the game while others are playing catchup

What can I do to get started today?• Don’t just ask for email, ask for social profile links and

connections

• Store this information in your CRM

• Use social log ins

A Plan to stay ahead

• Collect social profile handles/links/IDs and store in your CRM

• Prepare to store and manage Bigdata

• Prepare to use social profiles for proactive communications

• Prepare to collect data from social profiles + posts and use to trigger and improve marketing, marketing automation, and sales

5 years from now• Companies that started collecting and storing social

data early will be ahead of the game

• Companies that have embraced Bigdata as “their business”, not something that other companies do will be ahead of the game

• Other companies will be playing catchup

• Data not linked to social profiles will have almost no value

• The concept of collecting information in forms and not tying it to a social profile will be laughable