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Customer Data Management: The Time is Now

In partnership with a leading global technology analyst firm, Dun & Bradstreet commissioned a new study to examine how Customer Data Management (CDM) impacts business development and overall performance. This exclusive study proves that smart CDM is essential for driving growth and staying ahead of the data explosion

Customer Data Management: The Time is Now

  1. 1. Driving Growth With Customer Data Management An Exclusive New Study Proves theValue of Smart Data Strategy for Marketers Q2 2015
  2. 2. 2 Today’s Conversation Share newly generated insights into the connection between 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 your company specifically CDM Study Q2 2015
  3. 3. 3 Innovation Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity MDM of Customer Data (CDM) Gartner Hype Cycle Gartner Market Clock Dusk of Obsolescence Dawn of Standards MDM of Customer Data (CDM) Software Zenith of Industrialization The time to focus on Customer Data Management is here CDM Study Q2 2015Source: Gartner
  4. 4. 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
  5. 5. 5 Yet companies and their CMOs struggle to seize the opportunity QUALIFY AS ‘HIGHLY MATURE’ ON THEIR USE OF DATA 2-5%of companies researched by Gartner 82%of CMOs FEEL UNDERPREPARED TO DEAL WITH THE DATA EXPLOSION Source: IBM CDM Study Q2 2015
  6. 6. 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 BUSINESSVALUERECOGNIZED NONEXISTENT Problem? What Problem? No vision, but, yes, we do have a problem… INITIAL DEVELOPING DEFINED MANAGED OPTIMIZING No vision. Firefighting 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 sponsorship). 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
  7. 7. 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 ensure that individuals manage master data in the right 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
  8. 8. 8 Research: Proving the connection between data maturity and marketing success Leading global analyst firm surveyed and interviewed 135 companies – customers and non-customers – to quantify the importance of data maturity and 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
  9. 9. 9 ESTABLISHING SUSTAINABLE RELATIONSHIPS WITH SUPPLIERS DRIVING PROFITABLE RELATIONSHIPS WITH CUSTOMERS BUILDING NEW RELATIONSHIPS WITH PROSPECTS AND STRONGER RELATIONSHIPS WITH CUSTOMERS FORTIFYING TRUSTED RELATIONSHIPS WITH CUSTOMERS AND PARTNERS UNIFYING SINGLE VISION OF ALL VITAL RELATIONSHIPS ACROSS COMPANY Data Management = Relationship Management DATA: A SINGLE, INTEGRATED VIEW OF RELATIONSHIPS CDM Study Q2 2015
  10. 10. 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
  11. 11. 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 into profitable customers? Driving data-inspired growth Dun & Bradstreet customers understand this dynamic and manage it effectively. CDM Study Q2 2015
  12. 12. 12 Better prospecting for valuable potential relationships Definition of Effectiveness: Better customer demographics help improve segmentation and target campaigns Improvement Outcomes of Best Practice Implementation* - Higher MDM/CDM-mature companies manage campaigns 12% 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
  13. 13. 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 of Best 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
  14. 14. 14 Accelerated closing of new 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 of Best Practice Implementation* - Higher MDM/CDM-mature companies close sales 12% more effectively. - Dun & Bradstreet customers close sales 29% more effectively than non-customers. CDM Study Q2 2015
  15. 15. 15 TARGET BETTER Dun & Bradstreet customers manage campaigns 46% more effectively than non-customers Market Insight, Optimizer, Dun & Bradstreet NetProspex NURTURE 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
  16. 16. 16 Better performance on the most important metric of all +10%in revenue performance for Dun & Bradstreet customers over non-customers CDM Study Q2 2015
  17. 17. Next steps: Uncovering theValue forYour Organization
  18. 18. Thank you
  19. 19. 20 MDM Maturity Matrix Level 1 Initial Level 2 Developing Level 3 Defined Level 4 Managed Level 5 Optimizing Vision None Bottom-up initiatives only Top-down, but limited in vision Unifying vision for cross- enterprise MDM Key enabler of business success Strategy None Reactive focus on fire-fighting initiatives Proactive focus on individual domains Consistent and integrated approach Ongoing investment and improvement Metrics No 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 responsibility 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 life 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

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