OurCrowd's Managing Director for the Americas was seeking to develop relationships with Family Offices, as well as to scale the company’s UHNW network. Although OurCrowd already had established relationships with around 100 Family Offices in North America, the challenge was to attract new ones.
That said, with an invalid/unqualified email count in CRM of roughly 60%, launching an electronic mass mailing campaign to the existing database could have resulted in negative impact to the company’s sender score and a significant downgrade in sender reputation.
A compounding issue was that many contacts in the database were acquired by subscribing to the OurCrowd newsletter, and as such, had only provided their personal details and email address when registering. Due to anti-SPAM laws, the use of personal emails in B2B outreach is prohibited, which meant that they could not be included in Family Office cadences. With no internal team in place to help clean, validate, and enrich the lists, the BusDev team’s work was limited to servicing only the existing Family Offices network.
Family Offices are private organizations tasked with the management of generational wealth and philanthropic activities, as well as succession planning, for wealthy families.
To fully take advantage of the existing leads in the OurCrowd database, our team conducted a thorough clean of contact information, using various email validation tools as well as manual data validation. Individuals who had registered with their personal email addresses were further researched to uncover their place of employment and business emails, allowing us to reach out to them in a B2B capacity.
In parallel to the database enrichment process, our team launched a wide-scale research effort aimed at Single and Multi-Family Offices which were not in CRM. This involved leveraging business intelligence sources as well as built-for-purpose financial databases such as Pitchbook and Crunchbase.