It is surprising to me how many B2B multi-channel marketers do not yet have complete buyer analysis at the site level. After all, it is the site where demand is generated. Let me explain.
For years we (B2B marketers) followed our B2C brethren and focused on analysis at the individual or name level. We rented names, mailed names, tracked orders and revenue only at the name level. Most of our operating systems are built to track and report on orders at the name level. While all that is good stuff what really is required is the same rigorous reporting and analysis at the site level. B2B marketers know that the people within a company or a site change rapidly….the common assumptions is that name data changes at the rate of 50% each year. What really counts is what the response rate, number of orders, average order value and revenue is at the site level. Consider for example any site with say 100 employees. While the names of those employees may change over time chances are the business continues to operate from that site with relatively the same number of employees and continues to need your products. Just because a person is no longer buyer (because they quit!) does not mean the site no longer has potential. So it stands to reason that our first level of reporting and analysis should be at the site level and then broken down to the name or function level.
Also, don’t be sidetracked by analysis at the company or “corporate entity” level. Most of the major B2B data compilers will tell you there are some 13-20MM “companies” or “incorporated entities” in the USA but we know that there are only 6-8MM unique business sites with the rest of the entities being shell companies, tax entities, etc. A name attached to a shell company is not the same as a name attached to a proven buyer site, obviously.
I also note with interest that our friends at Merit Direct recently launched the first and only B2B prospect database called Pinnacle that is based upon buying sites, not just buying names. They soon will be able to integrate email, land mail and search activities at the site level. It is the next generation of co-op prospecting databases. Think of it as “B2B 3.0” if you will.
So, if your company is still focused on individual or name level reporting and analysis you need to re-assess your practices and re-focus on the site view of your business. Consider what you would do if you knew the following:
- Cost to acquire a new buying site….or lose one!
- RFMP by site
- AOV, MOV by site or groups of sites.
- Promotional history, marketing cost by site
- Orders and revenue by channel by site.
- Site level segmentation
- Site buying history across 50+ B2B catalog companies.
That should get your started! Need help? Please call me.
Terence Jukes is president of B2B Direct Marketing Intelligence LLC, a strategic B2B direct marketing consultancy based in Fort Lauderdale, Fla., that services B2B catalog company clients in the U.S., Canada, France, the U.K. and Germany. You can reach him at (954) 383-5221 or email@example.com.
Terence Jukes is president of B2B Direct Marketing Intelligence LLC, a strategic B2B direct marketing consultancy based in Fort Lauderdale, Fla., that services B2B catalog company clients in the U.S., Canada, France, the U.K. and Germany. You can reach him at tjukes @ b2bdmi.com or (954) 383-5221
Comments or questions are welcome.