What do you need to know about your customer to be able to sell your service? And what does your customer need to know about you?
Lead management, big data and the customer journey are the new heroes of marketing and sales, which can create billions in value for companies and ensure that Facebook's share price is where it is. Customer data is the treasure of companies and is now also traded accordingly high on the market.
A mere address with contact person is not worth much
First name, last name, company and address are important data, but they don't have much value per se. It is only through contact data, history data and info on contacts, companies and previous purchasing decisions that each individual data record becomes gold.
Contact person: phone number, email address, position, cell phone number, birthday, tasks, interests, decision-making authority, etc.
Company: Department, supervisor, fiscal year, team, buying center, etc.
History data: Phone call, visit, inquiry, trade show contact, email, etc.
Purchase decisions: favored brands/products, equipment, previous purchases, investment cycle, last purchase, etc.
The treasure can shrink
The treasure can grow
Primary objective: Highest possible quality of the database
Secondary objective 1: Maximize effectiveness and efficiency of all individual measures
Secondary objective 2: Minimize systematic friction losses as far as possible by reducing interfaces in data management
Secondary objective 3: Easy access and control
Strategy: How do I structure processes and measures internally and externally in such a way that I obtain the highest possible level of data? What systems and tools are needed for data collection, management and analysis?
If the data treasure is deficient ...
... advertising measures and customer contacts come to nothing
... the customers' investment times are missed
... potentials are not recognized
... feedback and know-how is lost
... the risk of an ever faster loss of data increases
So when the feedback comes in your next conversation that improving the quality of your data is too expensive, ask back how valuable Facebook might be if their data was only as good as yours.