Fintech startup DueDil combines data from thousands of sources, including company websites, financial filings, news reports, registry data, trademarks, and county court judgments. This helps companies do their due diligence (hence the name) and avoid risks by identifying the right companies to sell to, get insights into their business, and make a sale.
Now, upon the launch of its latest feature, DueDil Connect, you can combine this data with your individual networks, allowing for a more targeted approach to finding customers.
As Kimmelman puts it: “This is the first time that your relationship graph meets your business graph.”
How is that bypassing LinkedIn?
Before DueDil (pronounced as one word by its expat American founder: like 'doodle') came along with its huge amounts of company data the only way to prospect a company was through LinkedIn, Google or Bureau van Dijk (BvD), according to Kimmelman.
He explains the problem: “It has been very difficult to find those businesses when we use tools like LinkedIn because it’s built off of user-generated content. For example, if you look for all of the businesses in the UK [on LinkedIn] there are 246,000 companies. Whereas in fact if you look at the number of businesses that are active in the UK [on DueDil] there are 3.8 million.”
According to Kimmelman, these avenues only allow you to “prospect the individuals”.
“You can’t prospect the account, you can’t prospect the group of buyers, you can’t prospect the company. Our philosophy is that you should find the right company to deal with first, then use tools that are excellent like LinkedIn.”
Then there is the issue of getting in touch with a potential customer after you have found them.
“If you are prospecting or trying to get into that company with LinkedIn you only have InMail, but you want to be able to cold call them (unfortunately), you want to be able to email them, you want to be able to direct mail them, find them on social, and be able to find a warm introduction.”
“DueDil Connect bypasses Linkedin in a much more meaningful way because email is the universal network. People aren’t in front of LinkedIn everyday, in fact only a quarter of their users come back once a month. Imagine if you are trying to get in front of somebody and they only check their messages one time a month?”
So DueDil’s solution is to link your contact book with their huge data set, allowing for better customer targeting.
How does it work?
Once signed up as a DueDil Enterprise customer you will be asked to connect your network with the platform. You can connect through your email server (Connect currently plugs into Microsoft Exchange and Gmail, as well as LinkedIn and Salesforce) where you will see a screen asking for permission to access your account data.
Once connected you will see a new ‘People’ tab when prospecting a company with a list of staff members that you have exchanged emails with.
If you connect DueDil with your wider company network you will be able to see any contacts at that company that your colleagues have. You’ll also see employees that your colleagues could introduce you to – as Connect pulls in the connection data from LinkedIn.
“The amazing thing about this is that as a company, you don’t know who everybody else knows, so this reveals so many opportunities that you didn’t know existed and pool that contact base,” adds communications manager Norval Scott.
As well as opening up your internal network for reaching out to prospective customers, DueDil Connect allows users to set up alerts for relevant contacts for a sales trigger, company filing or when they’re mentioned in the news, for example.
DueDil Connect is available now to all enterprise users by activating the feature on their DueDil account. It will be available to premium and free users at a later date via a phased roll-out.