26th Jun, 2020
Marcom, , Designation
Net new customer acquisition, deep market penetration, and accelerating business growth are the common targets for any company. But how to make these targets achievable in corona times is the question which majorly all industry players are still pondering over or experimenting around.
Digital presence, collaborative technologies, and chat mediums have quadrupled their presence in existing setups and this upward trend is certainly helping in sustaining customer outreach and managing client communication. However, do we know that the point of contact towards whom the marketing efforts are being directed, is that even the right person of contact (RPC) in that company?
With a rapidly evolving market scenario, customers’ pain points have also changed, businesses are also revising their well-planned marketing campaigns in line with changing dynamics and the workforce is also under transition mode. In this situation, only the contactable and refreshed database shall come to the rescue.
Shakedown of the market
S&P Global Ratings in its recent report (March 23, 2020) forecast the economic impact of the virus outbreak to the tune of $400 billion loss for the Asia-Pacific. While the amount mentioned is significant for the APAC region, however, not all the countries in the region are on the same pandemic trajectory. China, where it all started is gearing up for the second phase of the outbreak, though businesses have opened and are in the renewal stage. There are other regions like Singapore, Malaysia where the markets are opening. While no one can guarantee what future holds, but surely, we can see that different markets are at different stages of renewal, and with changed customer’s pain-points, the whitespace has rejigged and has acquired new size and segmentation. This fact holds critical importance for the businesses elsewhere who are planning for their business revival and pinning hopes on the whitespace discovery model.
The prospecting needs to be in line with changes in market dynamics. Hence, an accurate, scalable, contactable and targeted database is very important that can help businesses overcome the challenge of latency and action faster GTM plans.
Time is of utmost importance in all the GTM plans. The right target group at the right time can bring down the input cost and impact the outcome at exponential levels impacting the budget sheet.
Input cost of Data cleansing
Data scientists spend almost 60% of the time organizing and cleansing data. This takes up an important chunk of the budget and impacts the data acquisition process. Needless to say, this also impacts GTM plans affecting the cost involved.
As shared before, while the market is opening up, changes in the market landscape have rendered the database redundant. Redundant data always render a high bounce rate and result in an unclear picture of the market, not to mention wasted efforts. Cleaning this redundant database is something in which most of the businesses do invest to achieve a scalable and verified database. This helps in increasing business efficiency and in uncertain terms, this has a big impact on the rate of return. No wonder, we all keep saying that data is the new oil!
Intelligent Database Management System
Denave’s proprietary Intelligent Database Management system is a service platform that enables sales and marketing professionals to gain access to high volumes of contactable data for their inside sales, email marketing, and demand generation campaigns. It comprises quality measuring algorithms and validation tests that help remove junk values and standardize datasets. Automation here plays a crucial role that provides deeper information on data stacks alike technology stack, financial information, etc. A contactable database provides make possible the following items.
- Increases the success rate of email marketing campaigns exponentially
- accessibility of desired breadth & width of the database for targeted outreach
- accessibility of standardized data in countries that do not have English as the main language
- upfront visibility to the quality of the dataset
In short, all the marketing campaigns can be made to yield measurable results and accelerated growth if the database is contactable – is measurable.