NetProspex receives $7m in Series B funding

NetProspex in Boston Globe

By Chris Reidy, Globe Staff

NetProspex, a Waltham-based provider of business contact data services, announced Wednesday it has received $7 million in Series B funding.

The deal was led by information technology investment firm Edison Ventures, which has invested $8.8 million in the company over the course of two rounds, NetProspex said in a press release. Previous investors also participated in this round.

The funding will be used to support “aggressive expansion toward category leadership in cloud-based data services,’’ Gary Halliwell, NetProspex chief executive said in a statement.

Founded in 2006, NetProspex seeks to drive customer acquisition by partnering with B2B marketers to deliver targeted prospect lists and profiling analytics.

Read full article on Boston.com

 

NetProspex Profiled by Independent Research Firm for Improving the Quality and Coverage of Contact Data

Rolodex

WALTHAM, MA–(Marketwire – May 22, 2012) – NetProspex, the leading provider of verified, crowd-sourced business contact data services, today announced the availability of SiriusDecisions’ “NetProspex Vendor Profile.” The profile provides an overview of NetProspex’s value in helping marketers acquire new contacts, enhance current contact data and cleanse their database.

NetProspex has a database of more than 28 million verified business contacts, with millions of new contacts contributed each month. As the database grows more comprehensive, B2B marketers benefit from a continual flow of new, up-to-date prospects that have been verified by the company’s robustCleneStep™ technology.

“Good contact data is absolutely essential to today’s B2B marketing efforts,” said Gary Halliwell, CEO, NetProspex. “Unfortunately, it’s also often a major pain point for the marketers that have to plan and implement those efforts. We exist to eliminate the challenges associated with business contact data, from accessing and cleansing it, to maximizing its use. We’re pleased that SiriusDecisions recognized our ability to help B2B marketers improve the quality and coverage of their contact data.”

Meet NetProspex at SiriusDecisions’ Annual Summit
NetProspex is a Gold Sponsor of the SiriusDecisions’ 2012 Summit, taking place today through May 24 in Scottsdale, Ariz. During the three-day conference, SiriusDecisions analysts and top sales and marketing leaders from Fortune 500 companies and major SMBs share how B2B organizations are solving critical issues that hinder predictable growth.

Multiple members of the NetProspex team will be attending the event and available to discuss marketers’ specific data challenges and how NetProspex’s offerings may be able to help.

To read SiriusDecisions’ complete vendor profile on NetProspex visit http://content.netprospex.com/netprospex-siriusdecisions-2012/

NetProspex Named a Best Place to Work in Boston

NetProspex in Boston Business Journal

WALTHAM, MA–(Marketwire -05/08/12)- NetProspex, the leading provider of verified, crowd-sourced business contact data services, has been named one of the best places to work in Massachusetts by the Boston Business Journal in its tenth annual regional awards program. The honor recognizes NetProspex’s achievements in creating a positive work environment that attracts and retains employees through a combination of employee satisfaction, working conditions and company culture.

“We are proud to be recognized by the Boston Business Journal as a best place to work,” said Gary Halliwell, CEO of NetProspex. “Creating a workplace environment that cultivates creativity and innovation is a central focus at NetProspex, and employee satisfaction is essential to the overall health of our fast-growing organization.”

The company is growing rapidly, and hiring. Since 2006, NetProspex has doubled its business in headcount, database size and revenue each year. In addition to offering healthcare with vision and dental, a 401k plan and insurance benefits, NetProspex also provides employees with free yoga classes, cake on their birthdays, a fully stocked kitchen and a fleet of Razor scooters to get around the office.

NetProspex was one of 25 companies awarded in the small business category for its exemplary workplace satisfaction and employee loyalty. Over 400 companies, of varying sizes, participated in the two-part employee survey which was launched in January by the Boston Business Journal in conjunction with market research firm Quantum Workplace. Companies were evaluated on the results of more than 18,000 employee satisfaction surveys that addressed such factors as their pride in the company, company encouragement, support and recognition of achievement and relationships with co-workers and supervisors.

“Companies on our list can be justifiably proud of creating a high level of workplace satisfaction during an economy where traditional rewards like big raises and bonuses aren’t as easy to give,” said Chris McIntosh, publisher of the Boston Business Journal. “In good times and in bad, our results validate how the creation of the right corporate culture can create powerful business advantages. Employees are proud to work for companies that are about more than just business.”

The top companies will be awarded during a lively breakfast on June 1 at the Boston Convention and Exhibition Center and profiled in a special supplement of the Boston Business Journal.

For more event details, please visit http://www.bizjournals.com/boston/event/63481. To browse career opportunities at NetProspex, please visit the jobs page http://www.netprospex.com/np/jobs.

NetProspex Launches Data Cloud API

Image Credit Jesussanz, Flickr

WALTHAM, MA–(Marketwire -04/25/12)- NetProspex, the leading provider of verified, crowd-sourced business contact data services, today announced the availability of its Data Cloud API(application programming interface), a set of developer tools Image Credit Jesussanz, Flickrproviding real-time access to millions of crowd-sourced business contacts validated by proprietary CleneStep™ verification.

NetProspex’s Data Cloud API is designed to return company and contact information for business professionals from an array of customizable API calls. By submitting information such as email address or company name into a data field, key contact and company information including title, phone number, address, industry, Standard Industrial Classification (SIC) code, or revenue can be obtained in real-time as individual contacts or in lists. Developers can also integrate NetProspex’s targeted list builder functionality into their products, returning customized prospect lists from key search criteria.

“Data is the fuel at the core of all marketing automation, CRM, and sales force automation technology in the recent bloom of innovation in B2B sales and marketing,” said NetProspex CEO Gary Halliwell. “By making a breadth of quality data available through a flexible API, we are empowering organizations to create exciting ways to put information at the point of use for their clients, in the tools they use every day. Partners are creating tremendous value for their users, and the possibilities are endless.”

Custom API integrations of NetProspex contact information into partner workflows were recognized at the 2012 CODiE Awards from the SIIA, winning “Best Solution Integrating Content into Workflow.” The NetProspex solution was awarded for its accessibility, business impact, depth-of-coverage, personalization, and usability.

“In order to be successful, our marketing and sales clients need the most up-to-date information about prospects.” said Rick Faulk, General Manager CRM for j2 Global®, which is already using the Data Cloud API “We chose to connect our CRM tool to NetProspex due to their focus on accuracy and their coverage. With this API integration, our clients can fill missing fields in lead records, add new contacts to a target account, and easily find fresh prospects for targeted B2B campaigns.”

Other partners currently leveraging real-time access include CRM provider Landslide, big data marketing firm Inflection, mobile advertising company VoodooVox, and B2B web analytics platform Visistat.

“Our clients rely on VoodooVox to provide actionable marketing information on mobile activity. Our integration with NetProspex enables us to show critical business profile details behind each caller including their job title, company, and industry,” said VoodooVox CEO Mike Durance. “We have been impressed with the depth and breadth of the information delivered, making NetProspex an ideal business data partner.”

Stephen Oachs, Co-founder and CTO of VisiStat has also already benefited from the API. He said, “our customers rely on VisiStat to identify companies that are visiting their website, and provide detailed contact information in real-time. With high quality data and a high-performance, yet easily integrated RESTful API, NetProspex provides a winning combination perfectly suited for our real-time data needs.”

The Data Cloud API is immediately available to developers wishing to add quality B2B contact and company data to their service offerings. More information can be found at http://www.netprospex.com/np/partner

NetProspex to Help B2B Marketers Diagnose and Improve Their Prospect Data

Image Credit RambergMediaImages, Flickr

WALTHAM, MA–(Marketwire -03/22/12)- On the heels of debuting its contact data quality solution CleneProspex, the leading provider of verified, crowd-sourced business contact data services, NetProspex today announced it will host a webinar to help address the challenges B2B marketers face in identifying data quality issues and maintaining data hygiene best practices.

Image Credit RambergMediaImages, FlickrWHAT:
How to Get Serious about Your Marketing Data webinar, a how-to session that will help marketers diagnose, prioritize and address a range of data challenges in prospect databases. Other key learnings are:

 

  • What other marketing organizations are doing about data quality
  • Methods to build the business case for data assessment and improvement projects
  • How to get a grip on the current health of your database

 

WHY:
According to research from NetProspex, contact data degrades at a rate of two percent per month, compromising the effectiveness of lead generation campaigns over time. But many resource-strapped marketing teams struggle to make data quality a top priority. This 60-minute webinar will provide new insights and practical advice for implementing effective data hygiene.

WHO:
Hosted by NetProspex Vice President of Marketing Maribeth Ross, the webinar will feature the guidance of Megan Heuer, service director of Marketing Operations Strategies for SiriusDecisions, which provides research and advisory services focused on the operational intelligence B2B sales and marketing executives need to maximize topline growth. Heuer works with marketing leaders as they build and revise best-in-class data management processes.

WHEN:
Wednesday, March 28 at 11:00 a.m. ET

HOW:
The webinar is free and open to the public. Space is limited. To register, visit NetProspex’s website or http://www2.gotomeeting.com/register/929551650. Those attending or following the webinar are invited to use hashtag #B2BDataQuality on Twitter.

Quick stat: 48 million people (37% of the workforce) changed jobs in 2011

quit-job

In 2011, 48,242,000 people changed jobs. This includes turnovers including layoffs and discharges, quits, and other separations.

  • Layoffs and discharges: 20,718,000
  • Quits: 23,578,000
  • Other separations: 3,943,000

This is out of 131,800,000 total workers, meaning 36.73% of the total working population changed jobs in 2011.

This information speaks to an inherent problem in B2B lead generation: contact data quality. With people constantly changing jobs, marketers must stay on top of data hygiene best practices, and when appropriate employ contact data cleansing solutions.

Source: Job Openings and Labor Turnover Survey (JOLTS) from the US Department of Labor Bureau of Labor Statistics http://www.bls.gov/data/

NetProspex Launches CleneProspex™ Contact Data Cleansing Solution for B2B Marketers

Image Credit flo450d, Flickr

WALTHAM, MA–(Marketwire – Mar 19, 2012) – NetProspex, the leading provider of verified, crowd-sourced business contact Image Credit flo450d, Flickr data services, today announced the launch of CleneProspex, a contact data cleansing and validation solution powered by its proprietary CleneStep verification process. Leveraging the proficiency and scalability gleaned from cleaning 100 million contacts through its CleneStep process, NetProspex is now working with clients to analyze, clean, format, and enhance their own existing business contact records.

The CleneProspex service was launched in response to growing concerns by B2B marketers about the impact of data quality on their campaigns and programs. To ensure good program results, marketers need real-time, accurate, and comprehensive contact records for potential buyers. NetProspex research finds that a business contact record degrades in quality at the rate of 2% or more per month. This creates an inherent problem for B2B marketers who rely on their prospect database to generate opportunities for sales.

“At a time when B2B marketing departments are under increasing pressure to prove their value of to an organization,” says NetProspex VP of Marketing Maribeth Ross, “data hygiene services offer immediate benefits. Marketers can improve program results, reduce costs and risks associated with bad data, identify gaps in their prospect database, and realize greater business value from their contact records.”

The service begins with a complimentary data assessment to uncover the current quality state of a marketer’s contact database. This comprehensive service measures the percentage of records with an undeliverable email addresses, potential email threats, out of date phone numbers, missing fields, or duplicate records. With this insight up front, a marketer is able to understand the business value of cleaning their contact database, so they can determine how to proceed.

“The CleneProspex assessment process provided useful insights that helped us develop a plan for maintaining a quality, targeted prospect database,” says Beverly Chiarelli, Senior Marketing Manager at Mimecast. “NetProspex has shown themselves to be the data partner we need to grow our database while maintaining the quality we need to get the best results on our marketing programs.”

“Acquiring usable contact records and identifying bad ones are constant battles for b-to-b marketers. Layering verification steps on top of data validation techniques in addition to crowd sourcing can provide a large number of contact records with a relatively high degree of reliability if done properly,” said Ross Graber, an analyst with research and advisory firm SiriusDecisions.

The CleneProspex service offering is immediately available to companies wishing to address their B2B contact data quality. More information can be found at http://www.netprospex.com/np/products#CleneProspex

Data Driven Business Week / DemandCon: An Idiot’s Review

Frustrated Businessman

Frustrated-man11My kids are right: I’m an idiot. The first thing I did arriving on a late-night flight to San Francisco for Data Driven Business Week was leave my iPhone in the airline seat pocket.

Next morning, I emerged, digitally naked, from my hotel on Powell Street. No phone, no email, no idea of my calendar for the day and no map to get to the conference. I wandered crowded streets, past faceless people, until a homeless guy got two bucks for showing me that I was actually standing outside an Apple Store. Apple got the other $500.

A few minutes later, back out into the world with a lightness in my step and wallet, I hit Data Driven Business Week, a multi-conference combining Demand Con, Marketing Optimization Summit, Conversion Conference and Predictive Analytics World all under one roof.

Here are the tweet-lights from the show:

Sirius Decisions says buyers are now 67% of the way through the buying process before they meet with your sales people

@brianhession


Gartner say by 2020, customers will manage 85% of their relationship without talking to a human @cahidalgo #demandcon

@esterkflammer

 

Marketers spend 9x more driving traffic to websites than on improving conversions @gregott @demandbase #demandcon

@ardath421

 

Re: marketing automation adoption “Many people buy a Cadillac but are using it like a Yugo.” – @MaribethRoss #DemandCon

@katiemartell

 

Avg life of social media link is 3 hours @kippbodnar #demandcon

@martikonstant

 

Great quote to pin to the wall: “Remove YOU from the story as much as possible.. it will travel farther.” @juntajoe #demandcon

@sgersh

 

But there was a word of warning here and one that could significantly hold back from the further promise of marketing automation, segmentation analytics, persona development and story telling at scale:

 

@tripkucera says 3 of 4 top reasons companies don’t have lead lifecycle mgt in place come down to skills gap #demandcon

@wright_kristen

 

This issue of skills, highlighted by Aberdeen’s Trip Kucera made me think of my Apple Store experience and the power of data-driven business and the people that make it work. It’s amazing to see how an IT company like Apple approaches the retail sales process. We are talking process, from the moment you step into the store. I was quickly triaged by one of those helpful, hip blue-shirts who led me to Specialist Laura. It was all familiarly efficient. Familiar, because this was my second visit to buy a phone in the past 10 days (yes, my lost phone was new.) Again, I was impressed with the rapid pecks on iPhone’s apps, integrating accounts, deciding options and then the best part — the finger signature. No check-out counter, no lines, no sales terminals.

Smiling, Laura set the phone up for me. I knew how to do it of course, as I’d gone through the exercise just days before, but I let her. I asked her about the technology and how much training they had to undergo. She said it was a continual process and, with a laugh, told me that it’s harder to get into Apple than Stanford!

My take-away from Apple and from Data Driven business Week is that the rewards for getting it right are enormous but that it takes people, people.

(However, it looks like Apple has the Stanford graduate intake thing all sewn up… you’ll have to recruit from elsewhere!)

 

Key B2B Marketing Email Stats

Mailbox

Looking for email marketing industry benchmarks? From average open rates to unsubscribe rates, B2B marketers measure the success on their email programs by many factors. Ultimately, the most important factors to gauge success are MQLs and marketing-generated-revenue, but the following stats are very helpful in gaining an understanding of where you stand against the average industry results.

Benchmarks:

  • Average open rate – 22.0%
  • Average click-through rate – 5.9%


Source: Epsilon Quarter 4 2009 Email Trends and Benchmark (Jan 2010)

Marketing emails using a house list experience, on average:

  • Open rates of almost 20%
  • Click-through rates of 6.64%
  • Conversion rates of 1.73%
  • Bounce rates of 3.72%
  • Unsubscribe rates of 0.77%
Source: Direct Marketing Association (2010)
To track campaign success:
  • 72% of marketers rely on clicks
  • 59.2% of marketers rely on conversion rate
  • 58.4% of marketers rely on impressions
Source: Datran Media “Marketing and Media Survey” (2010)
Thanks to EmailStatCenter.com

We’ve created a tool to help you determine the amount of marketing activity you need in order to hit your marketing-generated-revenue goals. It takes into account the response rate of each campaign, and the conversion of your prospects along the way. Try the B2B Demand Generation Funnel Calculator.