The importance of data collection and keeping the database up-to-date
June 4, 2019 / Arielle Adler
Did you run lately a marketing campaign and had little success?
There could be various reasons contributing to that but one the main reasons is an outdated database.
Nowadays, almost 67% of companies rely on CRM data for growth of their bottom line. Yet, close to 94% of B2B companies suspect their database to be inaccurate.
This causes a waste of time and money, with little ROI.
Your database is one of your most valuable business assets. It should enable you to grow your sales and increase your profits and this is why it needs special attention.
Up-to-date contact lists are the foundation of any direct marketing related strategy or program you wish to execute.
So, how to start?
- Develop a database sanitation plan
- Delete duplicates
- Identify the sources of irrelevant data in your database
- Verify if data is still up-to-date by contacting the organizations (check for relevant names and contact details)
- Build strategy for new data entries
- Create data quality key performance indicators (KPIs)
- Standardize the information you want to collect
- Initiate a data entry process to assure the uploading of accurate data
- Consistently track and validate your contact data
- Keep a record of collected data, how you use it and where it is stored, avoiding violation of GDPR or CASL
Your benefits for following these procedures are an increased ROI of your sales campaigns, reducing costs, segmenting decision makers in a more effective way, building brand value and avoid compliance issues
Do you need help? Contact me for information about my services and consulting. I’d love to explore how we could work together.