According to the study, 32% of US Companies believe that their data is inaccurate, and as a result, 23% of their revenue goes down the drain. Several firms use database methods to improve their direct marketing campaigns, which includes both B2C and B2B businesses.
Database Marketing is especially beneficial for large firms, which have a large consumer base that forms huge amounts of transaction data. The larger the original data set, the more chances arise to find groups of customers that can be contacted with customized communication.
It all depends on the data. The more useful data available, the more powerful the campaigns become. Such data comes from a number of sources. Additional data for your business can arrive from customer service, which can keep a record of all the customer communications.
Also not to forget that bad data infiltrates every database, including the form of duplicate contacts, irregularly formatted leads, and junk records. You can’t control the irrelevant data from entering your database, but once it enters your database you need to clean it up.
94% of B2B companies experience inaccuracy in their database. To secure your marketing program ROI, follow these tips for managing your B2B Marketing Database:
- 1. Identify critical data
- 2. Analyze your data
- 3. Standardize database building process
- 4. Regular data cleansing and augmentation
Check out the 5 best practices to keep your database clean and compliant:
1. Point out Duplicates
Once you find the proper tricks to fetch your data it becomes easy for you to identify the duplicates. Accordingly, you should scrub your data on a daily basis and exclude duplicate leads as they come into your data list.
You should take proper precautions to delete the duplicates. So dive into both lead records, determine which has the most pertinent data, and then merge the records accordingly.
2. Form a Data Quality Plan
Set expectations for your data. Create data quality key performance indicators (KPIs). Examine where most data quality errors occur. Identify incorrect data. Examine the root cause of your data. Create a plan to form your quality data directory.
3. Delete Inactive Contacts
Use filters to find and get the records that have been inactive for a while. Now when you are ready with all your active records it becomes easy for you to differentiate between worthy and unworthy leads.
4. Standardize Contact Data at the Point of Entry
Before you start cleaning your data check important data at the point of entry. This guarantees that all information is accurate and standard when it enters your database and will make it easier to highlight duplicates. Form a standard operating procedure that will ensure that your team is only allowing quality data in your CRM at the point of entry.
5. Validate the Accuracy of Your Data
You can find many great tools for cleaning data, such as list imports. Also, go for data hygiene tools that offer email verification. Effectual marketing arises when high-quality data and tools are used to seamlessly unify several data sets. We recommend Zoominfo as it is one of the best tools for data extracting, appending and cleaning.
6. Form Consistency
Consistency is key to a clean database, but it’s also one of the challenges for the database. For these, your platform should be able to automatically clean similar data values. So, if you want to email all of your leads in any of your targeted areas, you won’t leave any out because of dirty data.
7. Set Up Alerts
Using alerts help you to stay at the top of your database. For example, if your platform automatically copies leads based on the email address, you can be notified and proactively decide whether the record is a duplicate or not as you will mostly find contact having the same name.
An effective Data Cleaning strategy implements 3 key methods.
- 1. Ability to detect and remove major errors and inconsistencies.
- 2. Making use of the tools that reduce manual inspection and programming efforts.
- 3. The layout of co-existent data transformation and specific mapping functions.
With a clean database, you not only create better customer engagement, maximizes customer retention but also optimizes overall marketing performance and results. It may be email marketing, telemarketing, or direct mailing, only complete and accurate customer data brings results in numbers and reduces unnecessary expenses. To higher up your sales success and productivity, you need to partner with a B2B contact data provider for prospecting and outreach efforts. VSynergize is one of the reputable, high-quality B2B data providers. They help you to identify a handful of contacts to meet very specific criteria with much success and also add thousands of valuable leads to your organization’s database. Reach us on 855-203-8196 or email at email@example.com