customer data management: the time is now

20
Driving Growth With Customer Data Management An Exclusive New Study Proves the Value of Smart Data Strategy for Marketers Q2 2015

Upload: dun-bradstreet

Post on 12-Apr-2017

4.272 views

Category:

Data & Analytics


5 download

TRANSCRIPT

Page 1: Customer Data Management: The Time is Now

Driving Growth WithCustomer Data ManagementAn Exclusive New Study Proves the Value

of Smart Data Strategy for MarketersQ2 2015

Page 2: Customer Data Management: The Time is Now

2

Today’s Conversation

Share newly generated

insights into the connectionbetween a company’s’

“data maturity” and its overall

success

Offer a perspective on best practices and impacts

associated with mature data management

Begin a dialogue on defining and documenting business and

financial impact of Dun &

Bradstreet solutions for

yourcompany

specifically

CDM Study Q2 2015

Page 3: Customer Data Management: The Time is Now

3

InnovationTrigger

Peak ofInflated

Expectations

Trough ofDisillusionme

nt

Slope ofEnlightenment

Plateau ofProductivity

MDM of Customer Data

(CDM)

Gartner Hype CycleGartner Market Clock

Dusk ofObsolescence

Dawn ofStandardsMDM of

CustomerData (CDM)

Software

Zenith of Industrialization

Market

start

The time to focus onCustomer Data Management is here

CDM Study Q2 2015Source: Gartner

Page 4: Customer Data Management: The Time is Now

4

Through 2017, CRM leaders who avoid MDM will derive

erroneous results resulting in a 25% reduction in potential

revenue gains

Customer Master Data Interaction data Transaction Data

CRM example: Companies that ignore CDM

do so at their own peril

360-Degree View of Customer Data — Logical Data Flow

Source: Gartner CDM Study Q2 2015

Page 5: Customer Data Management: The Time is Now

5

Yet companies and their CMOsstruggle to seize the opportunity

QUALIFY AS ‘HIGHLY MATURE’ON THEIR USE OF DATA

2-5%of companiesresearched by Gartner

82%of

CMOs

FEEL UNDERPREPARED TO DEALWITH THE DATA EXPLOSION

Source: IBM CDM Study Q2 2015

Page 6: Customer Data Management: The Time is Now

6

0 1 2 3 4 5

Articulating the value of data maturity- Data-mature companies

achieve better improvements from data initiatives across the entire Customer Life Cycle

- They experience 20% greater improvements across Support, Operations/Finance and Customer Data Management due to data management

- The readily integrate third-party data and analytics

LEVEL OF DATA MATURITY

BUSI

NESS

VAL

UE R

ECOG

NIZE

D

NONEXISTENT

Problem? What Problem?

No vision, but, yes, we

do have a problem…

INITIAL

DEVELOPING

DEFINED

MANAGED

OPTIMIZING

No vision. Firefightin

g is the

answer.Isolated,

bottom-up initiatives.

Ok, let’s do

something (at the

silo level).Silo-

oriented solutions.

A unifying vision

emerges (with high-

level sponsorshi

p). Enterprise-wide MDM program

Data is the way we do

things around here.

Managing master data as an asset.

Continuing to learn

and improve.

CDM Study Q2 2015Source: Gartner, Inc., 2015

Page 7: Customer Data Management: The Time is Now

7

MDM/CDM program leaders need a framework to ensure that they approach initiatives on a strategic, balanced and integrated basis. Organizations should:

Understanding the path to data maturity

• Use a strategic MDM framework through all stages of the MDM program activity cycle: strategize, evaluate, execute and review

• Gain high-level business sponsorship for the MDM program, and build strong stakeholder support

• Create an MDM vision and a strategy that closely aligns with the organization's business vision

• Use an MDM metrics hierarchy to communicate standards for success and to objectively measure progress

• Create a governance framework to ensurethat individuals manage master data in theright ways

• Build up the organization's MDM capabilities in phases, delivering value at every stage

• View the MDM program as part of a wider enterprise information management (EIM) strategy

CDM Study Q2 2015

Page 8: Customer Data Management: The Time is Now

8

Research: Proving the connection between

data maturity and marketing successLeading global analyst firm surveyed and interviewed 135 companies –customers and non-customers – to quantify the importance of data

maturityand the value of working with Dun & Bradstreet data

Dun & Bradstreet sales and marketing customers

TARGET BETTER

NURTURE BETTER

CLOSE BETTER

Data-mature companies are more successful than less

mature firms –THEY EXPERIENCE IMPROVED

PERFORMANCE ACROSS MULTIPLE FUNCTIONS

COMPANY-WIDE

CDM Study Q2 2015

Page 9: Customer Data Management: The Time is Now

9

ESTABLISHING SUSTAINABLE RELATIONSHIPS WITH SUPPLIERS

DRIVING PROFITABLE RELATIONSHIPS WITH CUSTOMERS

BUILDING NEW RELATIONSHIPSWITH PROSPECTS AND STRONGERRELATIONSHIPS WITH CUSTOMERS

FORTIFYING TRUSTED RELATIONSHIPSWITH CUSTOMERS AND PARTNERS

UNIFYING SINGLE VISION OF ALLVITAL RELATIONSHIPS ACROSS

COMPANY

Data Management = Relationship Management

DATA:A SINGLE,

INTEGRATED VIEW OF

RELATIONSHIPS

CDM Study Q2 2015

Page 10: Customer Data Management: The Time is Now

10

COLLECT INTEGRATE CLEAN SUPPLEMENT

Innovative data and analytics leveraged across your company drives results. Tied together by the D-U-N-S Number, a relationship platform can create a single, unified, end-to-end view of prospects in the digitally driven age of self-directed buyers.

CDM Study Q2 2015

Page 11: Customer Data Management: The Time is Now

11

Marketers must activate data to create an end-to-end, global view of relationships with current and potential customers, defined by data and managed with creativity

-Who are your most valuable prospects?-What do they need from you?-How can you convert more of them intoprofitable customers?

Driving data-inspired growth

Dun & Bradstreet customers understand this dynamic and manage it effectively.CDM Study Q2 2015

Page 12: Customer Data Management: The Time is Now

12

Better prospecting forvaluable potential relationships

Definition of Effectiveness:Better customer demographicshelp improve segmentation andtarget campaigns

Improvement Outcomes ofBest Practice Implementation*- Higher MDM/CDM-mature

companies manage campaigns12% more effectively.

- Dun & Bradstreet customers manage campaigns 46% more effectively than non-customers.

Best Practices:- More segmentation

with deeper data profiles within those segments

- Multi-dimensional campaigns targeting by industry, geography, linkage

+46%Non-customers +Effectiveness of Segmentation and Target Campaigns

Customers

* - Average percent improvement in results expected by survey participants CDM Study Q2 2015

Page 13: Customer Data Management: The Time is Now

13

Better nurturing of promising relationships

Definition of Effectiveness:Better contact data improves the ability to manage customer contacts and find leads

Best Practices:- Unified profiles of leads

are enhanced by additional firmagraphics from third parties

- Wider arrays of lead sources

+46%Non-customers +Effectiveness of Customer Information

Customers

* - Average percent improvement in results expected by survey participants

Improvement Outcomes ofBest Practice Implementation*- Higher MDM/CDM-mature

companies use customer information 16% more effectively.

- Dun & Bradstreet customers use customer information 46%more effectively than non-customers.

CDM Study Q2 2015

Page 14: Customer Data Management: The Time is Now

14

Accelerated closing ofnew relationships

Definition of Effectiveness:Holistic customer information helps close deals, expand customer penetration and improve sales efficiency

Best Practices:- Consistent

customer/prospect profiles that are streamlined yet comprehensive

- Activate data profiles for existing customers to explore cross-sell

+29%Non-customers +Effectiveness of Sale Closes

Customers

* - Average percent improvement in results expected by survey participants

Improvement Outcomes ofBest Practice Implementation*- Higher MDM/CDM-mature

companies close sales 12%more effectively.

- Dun & Bradstreet customers close sales 29% more effectively thannon-customers.

CDM Study Q2 2015

Page 15: Customer Data Management: The Time is Now

15

TARGET BETTER

Dun & Bradstreet customers manage campaigns 46% more effectively than non-customers

Market Insight, Optimizer,

Dun & Bradstreet NetProspexNURTUR

E BETTER

Dun & Bradstreet customers use customer information 46% more effectively than non-customers

D&B Direct

CLOSE BETTER

On average, Dun & Bradstreet customers close sales better by 29% than non-customers

D&B 360, Hoover’s CDM Study Q2 2015

Page 16: Customer Data Management: The Time is Now

16

Better performance on the most important metric of all

+10%in revenue

performancefor Dun & Bradstreet

customers over non-customers CDM Study Q2 2015

Page 17: Customer Data Management: The Time is Now

Next steps:Uncovering the Value for Your

Organization

Page 18: Customer Data Management: The Time is Now
Page 19: Customer Data Management: The Time is Now

Thank you

Page 20: Customer Data Management: The Time is Now

20

MDM Maturity MatrixLevel 1 Initial

Level 2 Developing

Level 3 Defined

Level 4 Managed

Level 5 Optimizing

Vision NoneBottom-up initiatives only

Top-down, but limited in vision

Unifying vision for cross-enterprise MDM

Key enabler of business success

Strategy NoneReactive focus on fire-fighting initiatives

Proactive focus on individual domains

Consistent and integrated approach

Ongoing investment and improvement

MetricsNo metrics scheme for master data

Starting to develop data quality metrics

Successful use of metrics at the domain level

Using metrics to measure success cross-domain

Basis of management and investment

Information Governance

No one has responsibil ity

IT-led; lacking business involvement

Domain-level governance

Cross-enterprise multi-domain governance

Well-established cross-enterprise governance

Organization & Roles

No data stewards

Developing the culture of data stewardship

Potentially strong team, but limited in scope

Centralization or federation of data steward groups

Well-established cross-enterprise stewardship

Information Lifecycle

Silo-based — applications or functions

Starting to think in terms of the data l ife cycle

Focus on data life cycle at domain level

Best practice shared across the enterprise

Continue to optimize the life cycle

Enabling Infrastructure

Few or no data quality tools

Data quality tools, but no MDM solutions

MDM solution covering only one domain

Multi-domain, but not integrated or consistent

Integrated and consistent set of capabilities

CDM Study Q2 2015