For this week’s blog, I thought I would present a business list case study.
I recently undertook a project for a company that provided financial services. The company had telephone sales staff who were telemarketing to a list of businesses. This business list was a mixture of all company sizes, across all business sectors. The sales manager wanted to promote health care insurance and wanted to identify their ideal customers more effectively.
From their current database, they wanted to understand the types of companies that were currently buying from them. They wanted to see what size of company, if there was a particular industry sector they had good penetration in, plus the types of person who were making the buying decision – was it a Personnel / HR decision, a financial decision or a director level decision.
This information would allow them to target new prospects effectively and efficiently.
We first of all cleaned the client’s data and matched this to the business universe (master list of businesses). This allowed us to understand the profile of their current customers. We looked to see if there were any similar features including the industries they serviced, the size of these industries, the location and the person who makes the buying decision.
The profiling reports offered insightful and detailed information enabling the client to make informed decisions about their next business list purchase.
Once the profiling work had been carried out, the client had a clean, profiled business list that they could market to with confidence.
As you can imagine, this business list contained a vast number of companies within various industries, however having profiled the list, we could see which areas they were particularly strong in and which they were not so strong. For instance, they had good penetration within the manufacturing sector across the M62 corridor, though south of Sheffield, their penetration rates dropped.
Given this information, we were able to make recommendations to the client on the best prospects to start targeting first. Furthermore, with knowledge of their existing clients, we were able to exclude these from their database purchase. This ensured they not only purchased highly targeted data consisting only of companies they were likely to achieve good success with, but also ensured they didn’t receive records they already had within their own database.
And The Results Were…..
Not unexpectedly, the results warranted the preparation work. By adopting this process, their accurate and targeted business list was supplied to the telephone sales staff for appointment calls to be made the next week. They have thus far reported back an increase of 20% in the number of appointments made.
If you would like more information on data profiling and business lists then call us on 01274 483936
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