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Creating Commercial Value from Public Data

In this presentation, Lisa Wallerstein, VP of Marketing at Commonwealth Business Media, delves into the commercial value of public data through PIERS (Port Import Export Reporting Service). Established over 30 years ago, PIERS has evolved into a leading provider of U.S. waterborne trade data, transforming raw shipping records into actionable intelligence. With a focus on accuracy and detail, PIERS aids businesses in understanding market dynamics, enhancing supply chains, and identifying new opportunities. This session highlights strategies for leveraging trade data to drive decision-making and bolster competitive advantage.

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Creating Commercial Value from Public Data

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  1. Creating Commercial Valuefrom Public Data Presentation to American Business Media Lisa Wallerstein, V.P. of Marketing Commonwealth Business Media

  2. Agenda • Context: PIERS History • Our Markets • Our Commercial Market Strategy & Tactics • A Case in Point: Trade Profiles

  3. The commercial value … … of the right information in the right place, at the right time.

  4. PIERS: A short history • Antecedent was – and is – a content creator: The Journal of Commerce. • PIERS was conceived as a information delivery service. • PIERS was launched over 30 years ago as the JOC’s first venture into electronic information. • PIERS 1980s FOIA filings opened access to ships’ manifests and bills of lading. • Today, PIERS is the primary source of U.S. waterborne import-export trade data and a leading provider of global intelligence.

  5. PIERS adds value • PIERS gathers and verifies all records for accuracy and completeness. • PIERS translates the raw data into intelligible shipping records in a format that has become the industry standard. â • PIERS subjects its data to a series of audits, and adds detail such as harmonized tariff codes and estimated value of cargoes. • PIERS produces 18 million records annually. ä

  6. Why Use PIERS • PIERS database reveals the details of global buying and selling to help companies find out: • Who is buying • Who is selling • What goods are being transported and their estimated dollar value • Where they’re being transported to and from

  7. PIERS trade data sources • Imports – Automated Manifest System (AMS) and manual documents • Exports – Bills of lading • International data sourced from customs authorities and private data providers: • Argentina • Barbados • Bolivia • Brazil • Chile • China • Colombia • Djibouti (+Ethiopia) • Ecuador • Egypt • Guatemala • India • Ivory Coast • Jordan • Kenya • Korea • Mexico • Pakistan (+Afghanistan) • Paraguay • Peru • Philippines • Russia • Saudi Arabia • Sudan • Tanzania • Ukraine • Venezuela • Yemen

  8. Traditionally, PIERS clients were: • Maritime industry participants, for example: • Shipping lines (market data, rate setting). • Port authorities (marketing, facilities planning). • Or Government agencies, for example: • Customs (outsourced data scrubbing and rationalization). • Army Corps of Engineers (track coastal channel activity). • Department of Agriculture (ocean rates and transportation trends).

  9. Today, PIERS has 6,000 private- and public-sector clients … • In the public sector: • Federal departments and agencies • Regional, state and local government • In the maritime sector: • Global container carriers • Port authorities • Ocean transport intermediaries • In the commercial sector: * • Fortune 1000s • Trade associations • Support services, e.g., trade financiers, consultants, law firms • *Fastest growing • … in more than 40 countries • Internationally: • Purchases directly via the Web, or through an agency network.

  10. PIERS commercial focus • A target market of some 37,000 companies • Our fastest growing new market … 85% revenue growth over four years. • Currently represents 40% of PIERS revenue • Projected to grow 12% annually / retention rates approaching 78%

  11. PIERS commercial strategy Leverage our assets: • Our ability to gather and deliver trade information to the point of decision-making. • Our unique database: “This is global commercial intelligence you’ll find nowhere else in the world.” • Our brand equity among shipping lines and multimodal transport companies with their customers. • Our knowledge of international trade as the entree to global markets for companies expanding business beyond our borders.

  12. PIERS commercial strategy Extend, adapt and create: • Develop new web-based products that deliver information on-demand. • Develop new information products that combine and manipulate data to yield business insight. • Reposition trade data as a unique source of competitive intelligence for companies doing business globally. • Reposition trade intelligence as an essential input for a fundamental business applications. â â â

  13. PIERS commercial strategy Promote applications of PIERS essential input to: • Identify new market demand and sales opportunities. • Locate and qualify new suppliers. • Benchmark performance against the competition. • Monitor contract compliance / long-distance business partnerships. • Research and analyze international trade trends. • Support strategic decision-making.

  14. PIERS commercial strategy • Promote PIERS as essential input to sales and marketing … â

  15. PIERS commercial strategy • … and ascompetitive intelligence.

  16. PIERS commercial strategy • Then deliver information on-demand.

  17. Tactical elements of PIERS commercial strategy • Increase PIERS visibility as a market intelligence resource in the commercial sector. â • Position PIERS data as import-export “insider information” that sharpens business decision-making. • Reposition products for commercial applications. â • Bundle products to maximize intelligence value (and per-customer revenues). • Develop new products that marry trade data with decision-support software capabilities. • Migrate to the more immediate delivery, wider reach (and lower overhead) of web-based product delivery.

  18. Tactics: Increasing visibility • Aggressive customer acquisition direct mail and promotions. • Web search engine optimization and marketing (SEO/SEM). • Brand advertising campaigns include award-winning “Imagine the Possibilities” advertisement.

  19. Tactics: Increasing visibility • Place articles, book speaking engagements by subject matter experts. • Media relations: PIERS as source in The Wall Street Journal, New York Times, Bloomberg’s, etc. • Create FREE content — e-newsletter, Trade Insights web page — to open channels and build user community.

  20. Objective: Gain fresh insight

  21. Tactics: Repositioning and re-inventing products • New website provides subscribers with secure yet streamlined anywhere, anytime access to their choice of products. • Flexible pricing offers moreaffordable purchase options for small businesses and international users.

  22. Tactics: Repositioning and re-inventing products… • Integrated suites of products offer comprehensive solutions: • Trade Strategies: WebTI + Trade Profiles + Trade Horizons Online • Alliances contribute to more multi-dimensional intelligence: • Trade Profiles customers access qualifying background information for the most active companies in PIERS database through a partnership withD&B.â â â

  23. Trade Profiles delivers • For each of the 400,000+ companies • most active on both sides of U.S. import-export trade: • From PIERS: The details of the most recent 12 months’ trading activities — down to the individual transaction; plus • From D&B: The D-U-N-S® Number*-identified business background information — including decision-makers’ names and phone numbers; • On-demand via the web … by subscription or pay-go. • *D&B D-U-N-S Numbers are proprietary to D&B, are licensed from D&B and are for internal use only. • D-U-N-S is a registered trademark of D&B.

  24. Trade Profiles delivers Simple web-based user-interface allows users to pinpoint the companies and type of trade they are seeking based on multiple search criteria. Makes it easy to find the top importers/exporters of specific commodities.

  25. Trade Profiles delivers • Enables users to: • Look up companies by location, products, or markets. • Identify buyers’ mainstay suppliers. • Rank sellers by activity, volumes, estimated values. • Filter results by demographic criteria. • … so they can: • Narrow-focus marketing. • Map sales calls. • Cross-sell their customer bases. • Track their competitors.

  26. Trade Profiles delivers the complete picture of the businesses engaged in global commerce..

  27. Added dimension:Trade Finance Online • Designed expressly for banks and financial institutions: • Used to identify and prequalify prospective customers for import-export letters of credit, remittances and other trade finance products. • Commercial activity is aggregated quarterly. • Commercial activity is reported by company location, then aggregated under a company’s principal or headquarters location. • Summary level reports are provided.

  28. When we get it right

  29. How PIERS gets it right • PIERS commercial client base: • Our fastest growing new market … 85% revenue growth over four years. • Currently represents 40% of PIERS revenue. • Projected to grow 12% annually / retention rates approaching 78%.

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