Quality of data is the most important thing for defining a business strategy. A good, accurate, and clean data is a prerequisite to run any marketing campaign. But data has its own characteristics. It decays with time. Gartner’s report says that 3% of data decays every month globally. Shockingly, 70% of B2B data decays annually.
Working with decayed data or outdated data cannot help you achieve any of your business goals. Therefore, it is vital to take assistance from reputed B2B data cleansing service providers to make the database clean and healthy.
How much weight clean data carries for driving good business results you can understand from this fact.
- 94% of enterprises feel that good quality data is a prerequisite to gain better sales and marketing results.
What is Data Cleansing?
It is the process to update databases by removing outdated data, removing duplicate entries, fixing corrupt data, and filling incomplete data with relevant data sets. Unreliable data leads to unexpected results and affects the growth of an organization. This is the reason why B2B enterprises are now investing heavily to improve the quality of their data.
Benefits of Implementing B2B Data Cleansing Strategy
1. Improves ROI of Email Campaigns
It is often observed that enterprises many times did not verify their data properly and execute email marketing campaigns with outdated lists. This results in unnecessary expenditures with no real business benefits.
- Uncleaned data or wrong data, unfortunately, forced marketers to send emails to people who are not at all relevant to their business. Or to a set of people who do not need such services. This is seen as unprofessional and often turns your email into spam.
- B2B Data Cleansing ensures that you are targeting the right people with their correct contact IDs. It helps in broader reach and assists enterprises to boost open rate, an important metric that plays a crucial role in defining the success of email marketing campaigns.
2. Makes You Better Aware About Customer Database
In marketing, everything revolves around data. It is the gold for modern-day enterprises. Its quality defines the success of a marketing campaign.
- A good B2B data cleansing process enables marketers to understand their customers better. It helps to understand the buyer’s persona, behavior, location, budget, preferences, urgency, sales journey, and much more with great precision.
- Such robust data ensures greater personalization and effective lead nurturing in any marketing campaign. In one study, it is found that 85% of organizations have seen improvement in customer communication after implementing a good B2B data cleansing strategy.
3. Helps in Better Decision Making
- A small mistake sometimes leads to catastrophic business failure and incurs significant losses. In a business world, even a fraction of change in sales output, especially of high-value customers, boost profit margins impressively. When such small-small things matter in business then is it really wise to expect good results from outdated or uncleaned data?
- B2B data cleansing process rectifies all issues that happen with data and gives marketers a clear picture of it. Once you see and analyze the right data, you tend to gain better and more accurate insights about business processes. It helps you to make correct decisions keeping your core business segment, goals, and ideal customers in mind. Ultimately, it assists marketers to run a more effective marketing campaign to meet revenue goals.
4. Improves Customer Relationship
- If your company makes different types of products, provides a wide range of services, caters to a distinct demographic audience for each of your services then is it possible to win all customers with the same strategy/messaging/content. Obviously NO.
- B2B data cleansing empowers you to segment your customer or prospect base and enables you to curate tailored messaging and content. It helps in treating each customer uniquely using personalization. It boosts customer engagement, as personalization helps them connect to brands easily.
- By taking assistance from a reputed data cleaning company, you can refine your existing database and strengthen customer bonding. As relevant content and offers engage users better and promote good word of mouth publicity. On the other hand, irrelevant content and offers annoy customers, waste their time, and spoil relationships.
5. Rescues From Inaccurate Marketing
- Imagine a company utilizing 5 years-old data to run a very high-value and high-cost marketing campaign. In those last five years, much of the data became irrelevant. For example many would have changed their contact number, some might have switched to another email domain, many key influencers would have changed their jobs, etc. Do you think all such outdated and inaccurate data can help you achieve good marketing results? We don’t think so.
- You need to refine your database with proven B2B data cleaning techniques. Update outdated entries, add new data values and remove redundant ones to get a correct picture of the database. By utilizing any reputed business intelligence software along with updated CRM data, you can further get a 360* view of previous marketing operations. A deep analysis of this using new data can help you design result-driven marketing campaigns.
6. Reduces Data Duplication
- Data duplication is one of the biggest challenges in marketing that not just troubles marketers but also irritates customers. How? Let’s understand this with one small example. Let’s assume, in your database there are two entries – one of Mr. John M and another is of John M. Both these persons are the same. But while sending an email, your system sent it twice to the same person.
- While receiving it twice every time an offer is launched, how a customer would feel. Happy or annoyed? Wouldn’t it lead to dissatisfaction? As an enterprise, you also lose time, money, and reputation. This is the reason, 68% of marketers say that removing data duplication is their topmost priority while availing any B2B data cleansing service.
7. Makes Best Use of Talent
- Employees are hired with a certain special skill set to get an enterprise’s job done in a timely, efficient, and productive manner. But when employees work with outdated or wrong data, it affects their productivity and final outcomes. Those crucial times of contacting wrong people can be saved by using good B2B data cleansing services.
- By working with clean and updated data, employees can make the best use of their working hours. It helps boost their productivity and assists companies to gain more sales. Remember that every unanswered call, bounced email, etc., has some cost attached to it. And human resource cost is the most precious amongst all.
8. Assists in Accurate Reporting
- Implementing an effective data cleansing strategy rectifies all the issues related to B2B data. Your bad data is replaced with corrected and verified data. Missing fields data gets filled with new data. With a robust and clean database, enterprises get access to accurate reporting. This helps in getting a clear overview of your business operations and helps in optimizing business strategies better.
- Don’t ignore the power of right reporting. Business directions are decided based on it. Accurate data can lead you towards the right path and help you achieve glorious results. Bad one can stall your growth and lead to losses. Therefore, develop a data cleansing plan to take advantage of accurate reporting.
In today’s digital age, where data is considered as oil and treated as the most precious asset, you cannot wish to achieve great success with inaccurate data. Right from creating strategy, planning, or executing marketing plans, the first thing you need is right, clean, and accurate data. Therefore, invest your energy in data cleansing efforts by implementing proven data cleaning techniques. It will surely help you to gain good results in all your business endeavors.
If you are finding challenges in getting good quality B2B data, then let VSynergize help you out. We are a trusted and globally renowned B2B lead generation brand that also offers B2B data-related services. Contact us today at firstname.lastname@example.org to know more about our services.