Exciting New Tools for B-to-B Prospecting
Finding new customers is a lot easier these days, what with innovative, digitally based ways to capture and collect data. Early examples of this exciting new trend in prospecting were Jigsaw, a business card swapping tool that allowed salespeople to trade contacts, and ZoomInfo, which scrapes corporate websites for information about businesspeople and merges the information into a vast pool of data for analysis and lead generation campaigns. New ways to find prospects continue to come on the scene—it seems like on the daily.
One big new development is the trend away from static name/address lists, and towards dynamic sourcing of prospect names complete with valuable indicators of buying readiness culled from their actual behavior online. Companies such as InsideView and Leadspace are developing solutions in this area. Leadspace's process begins with constructing an ideal buyer persona by analyzing the marketer's best customers, which can be executed by uploading a few hundred records of name, company name and email address. Then, Leadspace scours the Internet, social networks and scores of contact databases for look-alikes and immediately delivers prospect names, fresh contact information and additional data about their professional activities.
Another dynamic data sourcing supplier with a new approach is Lattice, which also analyzes current customer data to build predictive models for prospecting, cross-sell and churn prevention. The difference from Leadspace is that Lattice builds the client models using their own massive "data cloud" of B-to-B buyer behavior, fed by 35 data sources like LexisNexis, Infogroup, D&B, and the US Government Patent Office. CMO Brian Kardon says Lattice has identified some interesting variables that are useful in prospecting, for example:
- Juniper Networks found that a company that has recently "signed a lease for a new building" is likely to need new networks and routers.
- American Express's foreign exchange software division identified "opened an office in a foreign country" suggests a need for foreign exchange help.
- Autodesk searches for companies who post job descriptions online that seek "design engineers with CAD/CAM experience."
Lattice faces competition from Mintigo and Infer, which are also offering prospect scoring models—more evidence of the growing opportunity for marketers to take advantage of new data sources and applications.
Ruth P. Stevens consults on customer acquisition and retention, and teaches marketing at companies and business schools around the world. She is past chair of the DMA Business-to-Business Council, and past president of the Direct Marketing Club of New York. Ruth was named one of the 100 Most Influential People in Business Marketing by Crain's BtoB magazine, and one of 20 Women to Watch by the Sales Lead Management Association. She is the author of Maximizing Lead Generation: The Complete Guide for B2B Marketers, and Trade Show and Event Marketing. Ruth serves as a director of Edmund Optics, Inc. She has held senior marketing positions at Time Warner, Ziff-Davis, and IBM and holds an MBA from Columbia University.