5 data quality issues

5 Data Quality Issues and How To Fix ThemOracle | Eloqua Power Hour


Marketing Advisor, Oracle | Eloqua Former Eloqua Customer Eloqua User Since 2005 Markie Award Winner Most Recent, Sr. Director of Marketing Based in the San Francisco Bay Area

Ian Ingar Brown

Presenters


Sr. Director, Social123 10+ years in Sales and Marketing Oracle | Eloqua AppCloud Partner Based in Atlanta, GA

Joe McKenna

Presenters


Dir. Marketing Ops, Blue Coat Systems Oracle | Eloqua Customer Markie Award Winner 2013!! –

Data Clean House Based in the San Francisco Bay Area

Manu Kaushik

Presenters


Power Hour Agenda – What You Will Learn

Why Data Quality Matters

Reasons Why Bad Data Causes Issues

Practical Ways to Manage Your Data (It doesn’t take much.)

How You Can Use 3rd Party Tools to Manage Your Data

How a Markie Award Winner Manages Data Quality


This is OurWorld.Data coming and going from multiple directions.



Segmentation and Targeting Right Message. Right Time. Campaign Measurement Marketing Attribution to Revenue



Cost of Unusable Data?

$600 Billion/Year- The Data Warehousing Institute

Survey from 2002!Number possibly higher today+ Mobile Devices+ Anytime, Anywhere Consumer


Top 5 Data Quality Issues

Incomplete Data Incorrect / Wrong Data Aging Data Duplicate Data Data Reconciliation

Between Sources


Top 5 Data Quality Issues – Incorrect Data What Causes Incorrect Data?

– Web forms are too long!

– Unnecessarily gated content

– Manual / erroneous data entry

Resulting Issues– Poor segmentation and metrics for marketing campaigns

– Misinformed actions by marketing and sales

– Unhappy prospects & customers

Resolution– Gate only high value content - eBooks, live event registrations, webinars (Eloqua tracking of downloads & video views)

– Test your forms (A and B landing pages in Eloqua)

– Pre-filled and drop down fields using Eloqua

– Normalize your data using a “Contact Washing Machine”


Top 5 Data Quality Issues – Incorrect DataThe Contact Washing Machine What is a Contact Washing Machine?

– The normalization of data using Eloqua automation(ex. Change “Chief Operating Officer” to “COO”)

– Combination of Eloqua programs and update rules

Results

– Forrester Research, Inc. (EE 2013 Speaker)

64% to 84%

30% unqualified

96 hours

Resources

– Topliners Article: Data Cleansing Best Practices/How To Setup a “Contact Washing Machine” - http://topliners.eloqua.com/docs/DOC-2402

– EE ‘13 Presentation: Forrester Research – “The power of a data washing machine in lead creation”http://topliners.eloqua.com/docs/DOC-4624

http://topliners.eloqua.com/docs/DOC-2402

http://topliners.eloqua.com/docs/DOC-4624


Top 5 Data Quality Issues - Incomplete Data

What Causes Incomplete Data?– Manual entry (Forms, CRM, Eloqua)

– Data Imports (Events/Tradeshows, CRM to Eloqua)

Resulting Issues– Poor segmentation for marketing campaigns

Resolution– Add required fields to forms (Note: Request the right data based on targeted personas!)

– Use Drop Downs on your forms (Job Role, Country, Industry, etc.)

– Capture or append data through 3rd party applications


Sr. Director, Social123 10+ years in Sales and Marketing Oracle | Eloqua AppCloud Partner Based in Atlanta, GA

Joe McKenna

Presenters


What makes Social123 unique?

1. 300 Million professionals from 2 Million public sources

We provide a link to the source for reliability

We validate every email address at the point of purchase

2.

3.


Social123 by the Numbers

300 Million Professionals 2 Million Sources 2000 Customers 43 Countries 25 Fields of Data 2 Week Data Refresh


Quantifying the Impact of Data Quality

The 1-10-100 rule

"It takes $1 to verify a record as it's entered, $10 to cleanse and de-dupe it and $100 if nothing is done, as the ramifications of the mistakes are felt over and over again.“

- SiriusDecisions


Quantifying the Impact of Data Quality

On the revenue side of the equation…

“…a data quality strategy and targeted data quality improvement efforts that solve conflicts at the source can lead to a 25% increase in converting inquiries to marketing-qualified leads.”

"Data Quality Practices Boost Revenue by 66 Percent."

- destinationCRM.com


Social123 + Eloqua = Sales Success

Eloqua AppCloud for over two years– Social Data tool – a powerful data appending utility that provides the

most accurate and detailed information about contacts inside of Eloqua.

– Most recently we rolled out two additional services, email validation and social lead generation.



Social Data – Largest, most accurate and detailed information available

– Append social data to your existing contact records with over 25 additional fields of data -- all provided from the contacts themselves

The Social123 Impact:– More personal and targeted outbound campaigns

– Increased ability to reach more potential buyers

– Improved email deliverability rates


The Impact of Aging Data on Productivity

The Impact:– Reduced customer satisfaction

– Damage to reputation and brand

– Decline in user adoption

– Wasted time and opportunity

– Most importantly…the decreasing inability to segment and target the most appropriate prospects with the right messages

“… according to MarketingProfs ,B2B data expires at a 25% rate per year. That trend manifests itself in decreased open rates, calls to action and eventually less revenue.”


Joe McKenna

Let’s Connect!

[email protected] 404-966-6604 www.Social123.com


Top 5 Data Quality Issues – Aging Data What Causes Aging Data?

– Poor data management

Resulting Issues– Poor segmentation and metrics for marketing campaigns

Resolution– Re-Engagement nurturing campaign

– Review your buyer personas and customer experience journeys


Top 5 Data Quality Issues – Aging Data

The Re-Engagement Nurturing Campaign


Top 5 Data Quality Issues – Duplicates What Causes Duplicate Data?

– Manual or automated entry without set rules

– Multiple unique email addresses for the same person

Resulting Issues– Multiple communications sent to the same recipient

– Campaign measurement

– Marketing and sales alignment

Resolution– Create rules around your data

Event Data – Use a template for capturing and importing leads

CRM – Restrict access to import or manipulate data

Regular data maintenance


Top 5 Data Quality Issues – Data Reconciliation What Causes Data Reconciliation Issues?

– Manual or automated entry with or without set rules

Technical issues

Imports through spreadsheets

Resulting Issues– Poor segmentation and metrics

– Negative feedback (customers, prospects, team members, etc.)

– Marketing and sales alignment

Resolution– Leverage Eloqua’s API (Application Programming Interface)

Connect to your favorite CRM or data warehouse

CRM – Restrict access to import or manipulate data

Regular data maintenance


Dir. Marketing Ops, Blue Coat Systems Oracle | Eloqua Customer Markie Award Winner 2013!! –

Data Clean House Based in the San Francisco Bay Area

Manu Kaushik

Presenters


Blue Coat Systems: Markie Award winner journey Blue Coat Introduction

– Web security and WAN optimization company

– 15,000 customers (86% Fortune 500 companies)

– More than 1,300 employees

2013 Eloqua Markie Award: Data Clean House– Extended focus on Data quality recognized during Eloqua experience

– Amazing platform with lots of motivation and ideas

– Excited to take our efforts to the next level of success and ready to help other companies by sharing our journey….


Data Quality Challenges Inconsistent and Unstandardized data

– Campaign segmentation issues

– Difficult for creating personalized and relevant experience for users

– Ineffective lead management within SFDC

– Misaligned lead scoring model

– Lead assignment issues

Reporting – Close loop reports weren’t possible

– Different underlying data for sales and marketing reports

– Inaccuracy with ROI computation


Data Cleansing Effort Overview Data Fields cleanup

– Thorough audit for all important fields in the database

– SQL database connected with Eloqua to enhance automation abilities

– Review of all data sources for critical contact/account fields

Contact Cleanup/Enrichment– Hard Bounced/Junk records

– Email/Contact Review & Validation

– Data Enrichment using external sources

Contact suppression business rules– Channel Partners, Competitors, Internal employees etc

– Contact profile center for subscription management


Data Cleansing Effort Overview Data Source Cleanup

– Web forms

– List Imports

Data standardization/cleanup automation– Data standardization scripts created

– Custom fields created to support additional data needs

System integration review– Eloqua-SFDC integration audited and optimized

Lead Scoring– Data regression for effective lead scoring model

– Gained alignment (Sales-Marketing) on criterion and definitions


Results, Lessons and Suggestions Results

– MQL volume increase by 25%

– 85% contact profile completeness

– 80% marketing influenced pipeline

Lessons/Suggestions– DATA is most vital for success; Needs extra attention

– Align your data processes with the business needs of sales and marketing and gain alignment at every step

– Unleash the power of marketing automation

– Documentation and Training is critical

– Effective audit reports and regular feedback is needed


Power Hour Agenda – Takeaways

Standardize your data entry points to prevent incorrect data from entering

your database (Templates, Required Fields, Drop Downs, Auto-Populate)

Use 3rd party applications to facilitate your data maintenance

Automate your data processes

(Contact Washing Machines, Re-Engagement Campaigns)

Start with practical data management and then graduate into the advance

Make data maintenance a part of your marketing automation life!


Ian Ingar Brown

Marketing Advisor

Twitter: @ingarbrown

Joe McKenna

Sr. Director, Social123

[email protected]

Thank You

Manu Kaushik

Dir. Marketing Ops

www.bluecoat.com

Connect


Q & A

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