Profound campaign in Finland

1

• Profound campaign in Finland
• Ilkka Lakoma, Merilkon Oy
• Dialog Agent Conference, March 8th, 2005

2
Profound Campaign

• When we heard about this new Profound campaign
• 100 to start only, max 5 users, no commitment,
  12 months,
• we were immediately thinking this would open us
  great
• opportunities
• What is our goal? - What we do want to achieve?
• How to present this?
• To whom to market Target groups?
• How to get the deals?

3
Background

• We know a big number of companies their people,
  who in principal have the need of international
  market research information
• In most cases we even know what they most likely
  need we eg. know often their market segments,
  key geographical markets, even key competitors
• On the backgroud we have an intensive marketing
  work we have done for years
• And most of these companies and people know us

4
The Goals

• 1. To get numbers very many customers, a big
  number of those 100 Euros and the usage
• How much we will get? We need to take care of
  them in order to keep them as a long term
  customer and this takes time and resources
• 2. The ultimate key goal to convert as many as
  possible to Profound Advantage Plans
• How many we are able to get?
• 3. To build relationships and image on the market
  for the future
• We have always (a) the short run and (b) the long
  run goals

5
How to present?

• We have always presented this as a SPECIAL OFFER
  and
• as a TRIAL and aimed just now to THIS LIMITED
  GROUP
• 12 months was too long in many cases we agreed
  we can offer three (3) and six (6) months trials
  also (start 100 anyway)
• We told them that after the trial period we will
  look the possibilities to a normal agreement
  based on the experiences together with the client

6
To whom to market Target groups?

• We specified the interesting target groups
• 1. Former customers, earlier been using
  Profound
• 2. Companies we have tried even years without
  any success
• 3. Small biotech companies
• 4. Small IT Tech companies
• 5. Small companies who cant predict the usage
• 6. Universities and polytechnics (new potential
  Profound user group for us)

7
How to get the deals?

• Target the companies we know already or who have
  a clear need for market research (or in some
  cases news)
• - Brand new contacts only 12 (small ones)
• Selling by phone very possible because simple
  idea, one content, small price, great value to
  the customer in principle
• Deal without meeting in 51 cases from 55
  (naturally we had met most of these before)
• Very often we sent for example a table of
  contents of very interesting reseach report
  (provided by PDF writer) to the potential
  customers - this is a very good selling point!
• Keep it simple and focused!

8
Results 55 new Profound customers
So far two of these have signed a normal Profound
agreement with the total value of 11.000 USD
and two more are on PAYG to continue the trial
after three months

• 1. Former customers, earlier used Profound
• - trial typically 3-6 months Result 11
• 2. Companies we have tried even years without
  success
• - trial typically 3-12 months Result 16 /
  2
• 3. Small biotech companies
• - trial 12 months Result
  10
• 4. Small IT Tech companies
• - trial 12 months Result
  9
• 5. Small companies who cant predict the usage
• - trial 12 months Result 6
  
• 6. Universities and polytechnics
• - trial 12 months Result 3

We could have got 100 deals as well!
9
Results 40 totally new customers

• 40 of these 55 companies hadnt any Dialog
  services
• 18 decision makers from these 55 were new to us
  (mainly small biotech or ITC or new people who
  had replaced the former contacts we had in the
  organization)
• Key point They are our customers now !!
• - We can build up the relationship
• - We can learn to know them and their needs
  better
• - We can make them proposals give ideas, train
  them
• - We can also sell easier other services to them

10
Results What we can get at the end?

• GOAL This year 20 Profound Advantage Plans with
  average value of 5.000 USD each, it is 100.000
  USD per year
• - now we have got two and 11.000 USD
• We will continue - if needed - with PAYG with
  the group of the small companies who cant
  predict their usage
• All these agreements will continue automatically
  after the period
• but we can also cancel the agreements if the
  customer is not ready to commitment
• or we can give them another 3, 6 or 12 months,
  naturally with the membership fees
• We need to consider the best solution case by
  case.
• And the long run results growth opportunities

11
Possible problems

• Customers are not using ---gt How to help /
  support / change?
• - so far 20 from 55 have not participated to any
  training
• Real problems --gt and possible solution
• Their needs are very specific --gt Help them to
  search eg. Dialog
• The needs are too local covering only countries
  like Finland, other Scandinavia, Germany, Poland
  or Baltic area
• They are looking for free information --gt Show
  the value
• This kind of services are new to them --gt
  Support, speak
• They do not have time to search --gt Alerts, find
  new users

12
Need to remember

• During the campaign period we have NOT offered
  this 100 Euros possibility to everybody
• We have continued the normal Profound sales too
  (like any other sales eg. Intelliscope Dialog)
  - based on the last Autumns marketing we have
  got additionally seven (7) new Profound Advantage
  Plans with total value of 43.000 USD
• When comparing this to our last years new sales
  we see this new campaign opening us important
  possibilities total new sales in Finland was
  2004 about 200.000 USD and Profound new sales was
  100.000 USD of this

13
Need to remember too

• This new campaign is also a test and we will
  evaluate the value of it based on the goals and
  results
• One extra good point has been that we have got
  from most of these 55 companies about five (5)
  names of each, people who mostly need this kind
  of market information

14

• Thanks!
• ilkka.lakoma_at_merilkon.fi
• 358 - 40 - 5003 444