5 Things Your Boss Wants to Know About DaaS
Maybe it started with a search on “prospect targeting,” “real time data,” or maybe you just noticed the term “Data-as-a-Service (DaaS)” popping up more and more in the marketing publications you’re subscribed to. Regardless of how you got here, you’ve done the research and realized that DaaS is a game changer that is revolutionizing the landscape of data driven marketing and yielding vast amounts of ROI for companies in all industries- and you want in!
BUT FIRST, you need buy-in from the people upstairs. Before you start brushing up on your PowerPoint proposal skills, here are 5 things your boss will want to know about Data-as-a-Service.
1. What is Data-as-a-Service anyway?
Just in case you need a little brushing up on the technical definition, and then what that means, here it is.
Technically, Data-as-a-Service is a service approach in which unique and Hard-to-Find Data (HTFD) assets are sourced and structured to deliver a constant stream of qualified prospects, including a company’s own customers, who are actively searching for what the company is selling. Distinctly different from list buying, these data sources are a highly customized marketing asset versus disconnected, one-time use prospect lists.
Okay, data is everywhere, and it’s here to stay. Every second people leave behind trails of information in different places- social media, purchase history, online search habits, etc.- and all of this information predicts their future behavior. Specifically, this information can be used to predict their next purchase. DaaS finds the clues that indicate an in-market, and therefore high quality, prospective consumer and delivers their information to your marketing systems or channel partners in real time, so you can market to them before they may even realize they’re ready to make a purchase.
Consumers leave clues. DaaS connects the dots. You reap the benefits.
2. Who is using DaaS?
Virtually every industry, both B2B and B2C, is tapping into DaaS as a resource to boost marketing ROI and increase quality lead generation. Manufacturing, retail, automotive, healthcare, utilities, banking, insurance, and more- the list goes on and on. Here are just a few examples.
- Retail – a furniture retailer can use DaaS to target their marketing to people showing indicators that they’re about to purchase a new house such as receiving a home loan
- Automotive – a car dealer can use DaaS to target people posting complaints on social media about their car breaking down, or requesting input from friends in family about what type of new car to purchase
- Manufacturing – a manufacturer of construction equipment can use DaaS to find companies who have recently been awarded building contracts
3. What are the components?
There are four parts to a Data-as-a-Service solution. Sourcing, Structuring, Delivering, and Analyzing.
Data is sourced (found). Based on your company’s objectives, DaaS finds the data that will make the biggest impact on your business goal. This may be social information, unstructured online data, transactional histories, offline data, and more.
Data is structured (built). The newly found data is added to your existing data, and vetted for quality to create one accurate, comprehensive data set.
The integrated data is analyzed. Behavior and commercial data is analyzed using analytics tools, delivering insight, opportunity identification, and dashboard optimization.
Prospects provided by DaaS are delivered to the client for highly targeted, personalized campaigns.
4. Show me the numbers!
Drive Lead Generation and Growth
- 74% of marketers consider lead quality over quantity. In order to achieve this, marketers now require better ways to manage data. (NetProspex)
- 77% of marketers are confident in using data-driven approaches to drive growth and better customer experiences. (GlobalDMA & Winterberry Group)
- 67% of the buyer journey takes place online- this means troves of data indicating in-market consumers is ready to be delivered to your marketing software. (NetProspex)
- Over half of B2B marketers (59%) noted that improving the depth and accuracy of their database was a top priority for 2015. (NetProspex)
Send Out Relevant, Targeted Messaging
- Companies that regularly maintain their database can see 66% higher conversion rates than those that don’t. (NetProspex)
- 78% of marketers say data increases conversion and acquisition and 71% say it enables the delivery of more relevant messaging to more finely segmented audiences. (BlueKai)
- 80% of B2B marketers consider buyer personas in the context of the sales cycle when creating content strategies. As the average number of content marketing tactics increases, targeted messaging can help engage more qualified customers, contributing to reductions in acquisition costs and shortened buying cycles. (NetProspex)