Capital markets firms are increasingly data-driven, and as a result, are getting creative about the types of data they track and how that data is visualized. You’re probably familiar with using DealCloud to manage contacts and deal flow, but innovative firms have learned that other types of initiatives can be managed both faster and more intelligently by leveraging data that is already logged in the DealCloud platform.
For instance, you’re a fund manager tasked with pulling together a list of potential investors for your next fund, or an investment banking analyst seeking a collection of likely buyers, or a private equity shop looking to build a pipeline of experienced hires for a portfolio company. You might have an idea of what these lists look like, and you certainly know the value of the lists themselves, but transforming the thought into action can feel overwhelming without the right tools.
The first question you might ask?: “What did we do last time we ran into this situation?”
In this article, we provide insight into “Target Builder,” a powerful tool that makes it easy to transform your firm’s past data into tangible, actionable next steps for any situation your firm might encounter.
What is Target Builder?
Like the Bulk Edit Grid, Target Builder is a tool within DealCloud that allows users to create entries quickly and dynamically. Potential counterparts can be associated based on relevant characteristics, streamlining the entire process and utilizing the data you already have.
Looking to create a list of buyers for an industrial distributor starting with the list you used for a similar project last year?
Starting from your new project, click the “Target Builder” icon at the top right to select a list type and enter the Target Builder interface. From here, begin your list by clicking the plus button next to “Included Entries,” then select “Project Name.” Apply the existing project and watch your new target list populate.
You can de-select entries by clicking the circles to the left of each entry, and you can filter or add to the view by clicking the pencil and paper edit icon next to the previous project name in the upper left corner. Once you are satisfied with your list, click “Create” to publish your entries. If you need to go back and edit them, you can always do so using the Bulk Edit grid.
Access DealCloud University for even more ways to leverage Target Builder.
Target Builder can be turned on for any List relating two objects. Here are some example use cases:
Mailing List Recipients
-Relates a Contact to a Mailing List
Buyer/Counterparty Process List
-Relates a Company (Buyer) to a Deal
Fundraising Process List
-Relates a Company (Investor) to a Fund
Conference Attendee List
-Relates a Contact to a Conference
Key Executive Search List
-Relates a Key Executive (Contact) to a Deal
How to set it up
You may likely already have Target Builder set up. Check the top right corner of an entry (try looking at Funds, Deals, Engagements, Mailing Lists, etc.) to see if this icon appears:
If not, a platform manager can turn on Target Builder using List Management:
1- Modify an individual List under Tools > List Management > Edit (pencil icon next to a list name) > Create Entries Dynamically
2- Be sure to assign fixed and variable reference fields on the List whose entries you would like to create dynamically using the pencil icon within the Edit List screen
3. Some examples of typical fixed and variable references:
-Buyers List: Fixed = Deal, Variable = Buyer Name
-Fundraise Process: Fixed = Fund Name, Variable = Investor
– Mailing List Recipient: Fixed = Mailing List, Variable = Contact
At the end of the day, Target Builder can help you accomplish the data entry tasks you’re already performing, but faster and more comprehensively. When combined with dashboard reporting and Business Intelligent Thinking, Target Builder is one more tool to share information between teams and leverage your firm’s DealCloud data.
If you’d like more information, contact DealCloud Support.