HomeApproachAre we getting value from our 3rd party data?

Are we getting value from our 3rd party data?

It is common for organisations to buy data to satisfy a short-term campaign need and at the end of that campaign leave the data within the CRM system and not give it any further thought.

However as 3rd party marketing data is often 'rented' it is vital that every effort is made to get as much value out of it as possible during the lifetime of the agreement.  Any leads and opportunities (at all stages) recorded against accounts that originated from the data should be evaluated to determine the value that has been leveraged from it.

Another measure of value is that of returned mailers, bounced emails or people that when called you discover have left the company.  This is a problem usually associated with out-of-date data.  To keep these returns to a minimum it is vital that any data updates or 'refreshes' offered by the data supplier are used.  Ultimately using these updates will lead to more efficient marketing campaigns and maximise the value from the data.

For organisations that have entered in to an agreement with their data supplier to remove the data at the end of the agreement it is also vital that the data is appropriately tagged and any activity that could determine the organisation's right to own a record are recorded within CRM.

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Useful Links and Further Information

ProvenWorks' CRM Sync utility can be used to easily and most importantly regularly sync data between CRM and a NetFinder data subscription.  Please contact us to discuss syncing other CRM systems with alternative data suppliers.

ProvenWorks can implement a bespoke Advanced Reporting Platform presenting your CRM campaign data in an easy-to-read format which can then be re-run at the push of a button with no manual work required.  CRM Campaign data can be presented in a view such that comparisons between the various data sources can easily be made.

If you have signed a contract which requires you to track the rented data then ProvenWorks' CRM Customisation service can help to ensure this is implemented correctly.