Experian Business Information Services recently introduced a powerful new marketing platform called Business TargetIQ. Product Manager, Kelly DeBoer answered a few questions about the product and described use cases that promote greater collaboration between credit and marketing departments.
What does Business TargetIQ do?
Business TargetIQ is our new marketing platform so it’s a B2B marketing platform where clients can access data for marketing applications.
How is it different from other business marketing platforms?
It is unique in that it not only includes your standard or core firmagraphic information but also includes Experian’s credit attributes.
Does it have credit data? What does that mean to marketing or collaboration?
Typically marketing data and credit data are housed in separate silos of information. With this tool the information will be combined together which will allow the tool not only to be used in traditional marketing applications for targeting but can also be in that risk factor which applies to different divisions within our client’s applications or use cases of the data.
Who would most benefit from Business TargetIQ?
The thing about Business TargetIQ is it truly applies to all different verticals, as well as all different contacts within the company. So whether it’s a financial vertical or a trade vertical, retail, just across the board all clients can utilize this. Anybody that’s doing marketing can utilize this platform.
What core problems does Business TargetIQ solve?
It solves a lot of different problems, so, the most common client issues that are brought to our attention are gaps in data, as well as in the marketing initiatives. So they may have data in-house but they have holes within the data. Our tool will allow them to not only upload their client records and fill in a lot of those gaps that they may have, whether it be contact information, or firmagraphics or address information. It will standardize that data and fill in those gaps. But will also provide the means to again use that data. Our business database which has over 16 million records. They can then utilize that information for prospecting, for data append, for analytics, for research applications, so it solves a lot of problems with regard to marketing and data concerns.
How does credit data help with prospecting?
So what we find is clients come to us and they may say you know I have an idea of what our clients look like, they’re in this SIC or in this industry code, or they have this sales volume or employee size, but what they may not know is on the back end which really helps identify and target those businesses is the credit attributes, so the risk factors around those. So do they have delinquencies in their payments? Have they filed bankruptcies? Do they have UCC filings?
So it allows them to take it that next step and not only really define what their clients look like, but identify clients that look like that.