Dun & Bradstreet rebranded D&B Workbench Data Optimizer as D&B Optimizer for Marketing and announced a set of enhancements to the platform. The Workbench name, now dropped, went back to the product’s origins as NetProspex Workbench, one of the first DaaS Hygiene / Enrichment / Prospecting platforms. The rebranded product includes a series of new features including an Analyze module, Salesforce Contact Optimization, custom email deliverability targets, and NAICS industry code support.
“This new name reflects Dun & Bradstreet’s commitment to deliver the very best in data optimization services,” the firm wrote its clients. The new name is also consistent with its other Optimizer solutions: D&B Optimizer for Salesforce and D&B Optimizer for Microsoft.
The new Analyze module delivers profiling and market opportunity analysis “utilizing D&B Master Data and proprietary machine-made analytics.” Features include dynamic dashboards which help marketers visualize their primary profile by revenue, employee size, and industry. The service also provides look-a-like opportunities to assist with ABM expansion and pipeline growth.
The new Salesforce Integration for Contact optimization supports contact cleansing and enrichment at a frequency determined by the customer. Dun & Bradstreet claims that the Salesforce integration may be setup in fewer than twenty minutes.
Custom Email Deliverability Levels allow marketers to dip deeper into Dun & Bradstreet’s pool of emails and select contacts with lower reliability scores. The default level is 90% deliverability, but highly targeted selects may require using contacts that are below the 90% deliverability threshold. Dun & Bradstreet called the 90% threshold “our recommended level for most email campaigns.”
Finally, D&B Optimizer for Marketing added NAICS industry code selects. The product already supports the older US SIC industry taxonomy.
Other D&B Optimizer for Marketing features include data validation and standardization (email, phone, address), duplicate flagging, data hygiene reports, lead prospecting, segmentation analysis, and data enrichment (firmographics, D-U-N-S Numbers, corporate linkages, technographics, biographics).
I’ve long suspected that email guessing strategies based upon corporate email templates are risky. If the hit rate is low, you can quickly undermine your sender score and hurt your firm’s ability to communicate with customers and prospects.
Almost every sales rep does it as a quick workaround. Hell, I’ve done it. But, as a strategy for building marketing datasets, it is a dead end. When sales reps do it, there is a high probability that their well drafted email will bounce. When marketing does it, they will kill their email deliverability.
SalesLoft began as a LinkedIn scraping service that employed Google to build lists and then utilized email guessing to enrich the lists with dubious quality emails. SalesLoft Prospector grew into a multi-million dollar business, but CEO Kyle Porter saw the business as unsustainable. Instead, Porter used revenues from Prospector as a financial bridge for building out a sales engagement Cadence service which has grown rapidly. Porter describes their service as “sincerity at scale.”
Yesterday, they announced the acquisition of partner SalesNinja which provides integrated meeting analytics for their sales engagement platform. The tool transcribes and tags meetings for sales coaching, new hire training, and meeting note searching. The goal is to improve sales efficiency and efficacy while identifying best practices. Instead of dubious lists, the firm is looking to build quality conversations between sales and prospects.
SalesLoft’s mission is to “enable salespeople to sell with true intent and sincerity,” said Porter several years ago. “The concept of getting a good prospect list and pounding it to death is old, trite and has become a terrible strategy and drag on our customer’s brands. We have never intended to participate in that process. SalesLoft Cadence is a different process, creates a different relationship, much different results and is executed by professionals with professional solutions.”
DiscoverOrg was never tempted by such strategies and employs a large editorial team to research and maintain executive profiles. In a recent test of 2,700 editorially gathered emails that were also SMTP verified, DiscoverOrg found that basic template guessing was only 62.4% accurate. When nickname substitution was employed, the rate only rose to 66%. When they analyzed the incorrect guesses, they came up with multiple reasons for failure:
Large companies have multiple email formulas
Brands and subsidiaries create complications
Subdomains are becoming more popular in email addresses
Some companies use multiple email domains for different roles
Nicknames are very common
Middle initials and middle names
Secretive email formulas
“A lot of data providers offer ‘confidence levels’ or likelihoods that a specific email is good,” blogged DiscoverOrg SVP of Data and Research Derek Smith. “They’re just peddling their own guesses. Anybody can pass along their best guess at an email. Real sales intelligence gives you accurate, actionable data that won’t result in a bounce of your carefully crafted prospecting message.”
In the end, prospecting shortcuts are problematic. The best sales and marketing professionals employ accurate data and insights for their messaging. Furthermore, in the era of GDPR (three days from now), you can’t have explicit consent to communicate with an EU citizen when you are guessing at how to contact her.
Data hygiene vendor ReachForce released its new end-to-end data quality solution called SmartSuite which unites their SmartForms and SmartManage services into a single offering. The SmartSuite service begins with an initial database cleanse bundled with ongoing data verification. Sales operations can also upload their customer database for match and cleanse processing before importing the data into a CRM. The firm notes that “providing data authenticity from the initial point of data acquisition has proven to be a priority for sales and marketing teams.”
Reachforce is positioning SmartSuite as a solution for lean marketing organizations that require “complete data to fuel their marketing programs.” Furthermore, they stated that the pricing model is a “cost-conscious platform” with a “pricing model that scales with the size of your database and low-effort implementations.” Beyond data hygiene, the platform offers “more robust data insights and an on-demand database builder.”
SmartSuite supports both web forms and list uploads which are immediately verified and enriched.
Other enhancements include SEC filing data for US publics and contact enrichment.
SmartSuite integrates with MS Dynamics, Marketo, HubSpot, Pardot, and Eloqua. The solution standardizes, verifies, and dedupes company and contact records prior to matching and enriching them with over 150 attributes. Sales and Marketing reps can also prospect for additional contacts at key accounts.
“Regardless if you’re one of the largest enterprises or a B2B startup, the burden that poor quality data places on growth remains the same,” said ReachForce CEO Dion Cornett. “We’re excited that our new innovative platform is able to address so many of the data challenges shared by our customers. Intuitive ease-of-use, extended functionality, and better data mean more successful campaigns and greater revenue.”
Sales and marketing intelligence vendor InsideView launched their Apex “go-to-market decision engine.” The new product combines InsideView and CRM data to assist with analyzing new market entry, identifying a firm’s Ideal Customer Profile (ICP), and assessing its Total Addressable Market (TAM).
“Smart B2B companies today are asking these questions: ‘Who are my best customers?’, ‘What are the new geographies and industries where I can expand?’, and ‘Are we going after the right customers and the right revenue?’,” said InsideView CEO Umberto Milletti. “We realized we had the technology, expertise, and data to help companies answer these questions quickly and with confidence so they never miss an opportunity. Business strategy shouldn’t be based on gut and guessing. And it shouldn’t require cumbersome data analysis. InsideView Apex uses cutting-edge technology and the best possible data so you can make the right decisions for your business.”
Go to market planning features include an ICP wizard, new/adjacent visualization tools with “what if” targeting analysis, TAM and market penetration analysis, new account and lead identification, and exporting of new ABM prospects to CRMs and MAPs.
“Revenue teams can use InsideView Apex to visualize performance against target segments in real time to optimize for success and focus resources on the targets with highest potential,” said Joe Andrews, VP of Product and Solution Marketing. “Marketing can see performance indicators at each stage of the funnel as leads convert to opportunities and won deals. Sales ops can identify where leads or opportunities may be getting stuck to course correct in real time.”
The Apex account score is based on an AI algorithm which correlates attributes from deep company profiles that are proprietary to the InsideView Platform. The account score is maintained and updated dynamically within Apex as customer ICP lists change. However, the account score is not currently pushed to CRM or InsideView for Sales.
If customers have also licensed InsideView Sales and Enrich products, ABM accounts are tagged.
Other visualization tools include a five-quarter historical view; market segmentation of leads, opportunities, and wins; and account whitespace (market penetration) analytics.
Apex integrates with Salesforce, MS Dynamics, Eloqua (Oracle Marketing), and Marketo.
Apex is licensed as an annual subscription and is priced in tiers based on company size which serves as a proxy for the number of market segments being targeted.
Apex is not the first tool in this category (e.g. D&B DataVision and DiscoverOrg AccountView), but it is emblematic of the expansion of sales intelligence vendors into market intelligence and strategic planning. When I started GZ Consulting six years ago, the sales intelligence firms were wary of entering the marketing realm, but the top sales intelligence firms are now offering ICP/TAM tools, marketing automation connectors, segmentation analysis, look-a-like prospecting, and data enrichment tools. This shift goes hand-in-hand with the blurring of the lines between sales and marketing. For example, sales engagement platforms provide cadence, analytics, and email marketing tools for sales reps alongside dialers and sales coaching. We are also seeing visitor intelligence and intent data being displayed within CRMs.
“Most B2B companies perform go-to-market planning and analysis in product silos and often fail to involve sales and marketing teams early in the process – those who must execute the strategy. Planning is a slow, manual process, based on limited information. Most firms have few ways to measure market performance reliably against strategy, making it nearly impossible to course correct in real time. It’s time to change this.”
Forrester Principal Analyst Laura Ramos
A 2018 InsideView survey of 500 American sales and marketing professionals found that TAM measurement was non-existent (25%) or ad hoc (28%) at surveyed organizations. Only 23% of respondents work at firms that regularly evaluate Target Demand. The remaining 24% of firms perform Target Demand analysis annually.
“All of the efficient and creative demand generation in the world will be wasted if the targeting is off,” wrote the firm in their 2018 Sales and Marketing Alignment report. “The shotgun approach to sales and marketing no longer works. There’s too much noise in the market and in prospects’ inboxes. The only way to stand out is to know who you’re targeting, and why and when they buy, and it can’t be done effectively unless both sales and marketing buy in it. Developing an ideal customer profile (ICP) and using it to determine your total addressable market (TAM) will help sales and marketing know exactly who to target, why they need your products, and when they need them.”
Salesforce told its Data.com Connect customers that the product will no longer be available as of May 4, 2019. As such, the firm will not renew any customers after May 3rd of this year, and users will not be able to license any points, contacts, or plans after May 3rd. However, users will be able to earn points through community updates through the expiration of the product. While Salesforce has not announced shutdown dates for the native Salesforce Data.com Clean and Prospector offerings, their shutdown is “currently targeted for some time in 2020.”
Data.com Connect contacts data will continue to “used in the maintenance of the Data.com Clean and Prospector products,” said the firm. “After the Data.com end-of-life is complete, the contact database may be archived by Salesforce.”
Data.com Connect is the successor to Jigsaw, which the firm acquired in 2010 for $142 million. Connect Members either purchased plans or earned points through adding and maintaining records within Connect. After acquiring the database, Salesforce realized that Jigsaw company data was too weak to be sold and partnered with D&B (now Dun & Bradstreet) to deliver the WorldBase company file alongside Jigsaw contacts. This partnership was in place until early 2017 when SFDC announced the end of the licensing relationship. Legacy customers continue to receive Data.com WorldBase account data, but the firm is encouraging clients to evaluate Lightning Data partnership offerings from Dun & Bradstreet, Bombora (intent), HG Data (technographics), DataFox, Clearbit, MCH (healthcare), and InsideView.
Future Lightning Data partners include Thomson Reuters, Aberdeen (technographics), Datanyze (technographics), Compass, and Equifax.
“We’ve built a powerful, flexible set of capabilities into the Salesforce platform we call the Lightning Data Engine. It uses sophisticated matching algorithms and machine learning to make it easy to implement and deliver strategic data and insights from trusted, third-party sources. Lightning Data apps give customers next-level data quality, enabling them to create more intelligent processes built on better, more targeted data, which improves CRM user adoption and ROI. Best of all, seamless integration requires minimal ongoing maintenance, and makes data readily available on any device without IT involvement.”
Dun & Bradstreet said that it expects Data.com revenues to decline 30% in 2018. The announcement that the Data.com Prospector and Clean products will be shuttered in 2020 is likely to expedite the revenue wind down.
Poor data quality is a disease which slowly destroys the value of your marketing database. Quality is damaged through incomplete information, poor data entry, and data decay. A traditional response is to purchase new records, but this only provides a temporary (and expensive) respite from your data quality issues.
The data I’ve seen indicates that contacts decay at a 25 to 30 percent annual rate. This means that a prospect list that is 90 percent accurate today will be little more than 50% accurate two years later. Thus, a prospect list purchase strategy is like steroids, it makes your marketing database look healthier on the day the list is purchased, but it simply masks the growing disease within your database. Treating one or two symptoms does not address the underlying problem — a lack of a broad, continuous data strategy.
However, if you take a holistic view around data quality which includes continuous DaaS validation, ABM look-a-likes, web form enrichment, lead-to-account mapping, duplicate management, data standardization, and reference database appends, you will have a healthy database that ensures your MAP and CRM platforms contain the richest, most accurate data.
Vendors that support holistic data quality include ReachForce, D&B Optimizer (FKA Workbench), Zoominfo, InsideView, Oceanos, and Openprise. So if you are concerned about your ability to target, segment, pass quality leads to sales, score leads, or build predictive models, then begin with a holistic data strategy. Symptoms of poor data quality include high email bounce rates, declining email sender scores, returned direct mail, duplicate records, incomplete records, accelerating unsubscribe rates, and sales reps that ignore your marketing qualified leads.
Any firm that is adopting ABM, advanced lead scoring, a single view of the customer, or predictive analytics, should begin with a holistic data quality strategy. Otherwise, these advanced marketing strategies are bound to fail.
Thinking back on the Hawaii emergency management snafu (a WWII acronym meaning “Situation Normal: All F****d up), it was clear that they lacked proper controls and situational planning. Apparently, there were no controls to prevent routine tests from sending out real messages. Furthermore, there was no redundancy in the system (e.g. confirmation messages, secondary approvals) and no plan for immediately recalling the message. Supposedly, the governor couldn’t Tweet because he forgot his password.
So, Hawaii was sent into a panic.
This just points out that emergency plans need to be periodically reviewed (what better time than Q1?). Do we have proper backups and system redundancy, state of the art firewalls and virus detection, and plans for managing and communicating hacks? Can we manage operations if a key partner API crashes or content partner shutters? Have we run through PR nightmare scenarios such as the one that H&M recently suffered (and which resulted in their South African stores being vandalized)?
There is no lack of risks (data security, physical security, financial, brand, supply chain, key executive health). Most are highly unlikely. But we’ve seen information services firms suffer problems over the past few years including the theft of the D&B NetProspex contact file from a data licensor and the Equifax hack. So, while many seem remote, the lack of scenario planning makes them more likely and costlier.
Of course, risk planning and mitigation need to be realistic. If it is simply a “Duck and Cover” campaign for PR purposes, then it will do little to prevent the risk or manage the situation should the emergency happen. Emergency planning needs to be robust.
Emergency planning suffers from some of the same issues as data quality. Both are boring investments based upon reduction of hypothetical risks and costs. But part of a C-level executive’s mandate is to plan for business continuity and mitigate risk.