For 30 years the UK Government has pursued a policy of attracting inward investment. From the Nissan factory in Sunderland to the new owners of Land Rover (Indian car maker Tata Motors) and owners of Ribena and Lucozade (Japanese Suntory), overseas companies have invested heavily in UK manufacturing.
In recent years House of Fraser has sold an 89% stake to Chinese conglomerate Sanpower before coming back under UK ownership, while high streets host overseas retailers Muji and Uniqlo (Japan), Zara and Mango (Spain) and H&M (Sweden). Wind back to the 1980s and the high street looked quite different.
Each company that comes to the UK to do business brings its own culture, language and ways of working. If your company offers services to overseas companies in the UK or if you can offer a particular understanding of a nation’s culture and sensibility, you might want to target companies by the nationality of their parent company.
This week, we’re adding a new marker to our mailing and email lists; you can now select companies by country of origin. So far we can offer companies who originate from or whose parent company is based in Japan
But we’ll be adding India, China, South Africa, Brazil and USA plus any other country of origin for which there is client demand. Just email Robert at electricmarketing.co.uk with the nation which interests you.
These lists are ideal for business language schools, translation services, visa and immigration lawyers, international relocation advisers and M&A advisers or any company that wishes to target companies whose parent company is not based in the UK.
If you are using these mailing lists, it is best not to specify a turnover band or number of employees limit. Mostly these companies do not publish annual sales for the UK only or give details of employee numbers country by country. Their annual reports feature Europe-wide or even worldwide sales figures which we don’t record.
Suffice to say that if a Japanese, US, Chinese or Indian company is in the UK, it is a big company with budget to spend and worthy of your marketing team’s attention.
Spot the odd one out: SW SE NW NE WC EC
A young graduate was given the job of appointment setting for the marketing director who wanted to ‘touch base with our London clients’ and have a few lunches in Soho. The Cambridge graduate selects a list of London clients using these postcodes and gets down to making the phone calls. He makes four appointments and proudly hands the marketing director the lunching schedule.
“Newcastle! Why am I spending Thursday afternoon in Newcastle!” yells the director.
Rest of team sniggers; the trainee assumed that if London has postcodes for South West, North West and South East, it also has one for North East London. It doesn’t – NE1 is the postcode for central Newcastle.
If you’ve put the time in selecting your mailing lists by postcode, you probably have a postcode map of your local area in your head. But if not, here’s a link to the Electric Marketing postcode map, for you to bookmark www.electricmarketing.co.uk/map.html
Selecting mailing lists by postcode may seem laborious and nerdy, but it does save time and budget if you are buying data for a campaign inviting people to an event. Admit to yourself that however triumphant your breakfast seminar, few executives from Exeter will make the trip to Manchester for breakfast. So don’t bother mailing or emailing them. Save your budget, look at the postcode map and only invite companies from within a certain radius. You don’t need to get into numbered postcode districts for business marketing – that really is nerdy – using the first letters of the postcode is usually enough. You won’t send out as many invitations, but your response rate will be more impressive and you will save budget on data, print and postage or ebroadcasting.
For (almost impartial) advice on buying and selecting mailing lists, see our guide How To Buy Mailing Lists For Email & Telemarketing Campaigns
I have always accepted the industry standard that business-to-business data decays at a rate of 30% a year and good sceptic that I am, assumed that the data industry was talking this up to encourage repeat orders.
Last week, we were pricing a list research project for a client and we happened to put this to the test.
We took a data file from June 2013, ran the exact same search again, compared the two files and found that 50% of the records had changed. Whether this was companies moving offices, email address changes, new phone numbers and most often, people switching jobs, we found that over the course of a year, this file of Electric Marketing data had decayed at a rate of 50%. Can’t be right (there’s that sceptic again), so we tested another, larger file of data. Same result. We tested a third file. Same result.
Why are we so far off the industry standard?
Theory One: the industry standard has not been tested since before the dawn of email. Email addresses are changed more frequently than postal addresses and these are pushing the rate of decay up from 30% to 50%. This was my first thought but I reckon that our more profit-focused competitors will have tested their rate of data decay within the last 12 years and I assume found no change in the rate of 30% data decay.
Theory Two: The focus of Electric Marketing email data is on large, dynamic businesses where staff are promoted and switch jobs more frequently; where merger and acquisition activity makes for more office moves, company name changes and email address changes. Dynamic companies where change is frequent make good sales prospects as they are receptive to new ideas and changing suppliers.
Theory Three: 30% is an industry average which would include all the micro-businesses employing under 5 people. They are characterised by people setting up a business and running it for 30 years until they retire; change in these businesses runs at a slower pace – they may still be dynamic businesses but the contact details for the MD are likely to remain static for longer periods. These small businesses are not included on Electric Marketing’s datafile.
Theory Four: The changes to our data included all the new managers and directors we had added to the data file over the year. Our cycle of updating and researching new names is more aggressive than other data providers.
So the bad news is that if you bought a file of data from Electric Marketing in summer 2013, half of it is probably incorrect. And this likely applies to any data you hold on large businesses.
If you’d like to fix this, Electric Marketing offers 50% discount on any list which you have bought within the last 12 months. But if you are reading this thinking about buying new data, consider our LeadStream service where we alert you to changes in email addresses on your datafile and send you new contacts that we’ve added to your datafile every month. See http://www.electricmarketing.co.uk/leadstream.html