Like most of the modern B2B companies, you must already have access to some sort of a contact database. But, collecting data and having access to it is only one small step towards data-driven success. Data quality and cleanliness is where the real power lies.
We’re talking about sales database enrichment and the drastic shift happening in database maintenance right now. Keep reading.
Real-time Data Append – Future of B2B Data Hygiene
Ongoing maintenance of B2B data is very important
Bad data shouldn’t be taken lightly. It becomes expensive to cleanse database if it sits in your CRM for a long time. You should always remember the 1-10-100 rule: It takes $1 to verify a record as it’s entered, $10 to cleanse, and $100 if necessary actions are not being taken. This adds up quickly, consider these statistics:
- Inaccurate data has a direct impact on 88% of businesses, with the average company losing 12% of its company revenue
- 43% of business objectives fail due to inaccurate data
Due to poor marketing data enrichment and the rate at which data decays, dirty data is a real problem that most B2B companies face. The worst part is these statistics probably won’t improve any time soon. Here’s why:
- 41% of email users change their email address at least once every two years
- 18% of email users change their email address one or more times a year
- 16% of all postal addresses change every year
- 20% of all telephone numbers change every year
- 21% of all CEOs change every year
- 28-33% of email addresses become outdated every year
- 65% of people change job titles within their organizations each year
Fortunately, technology has now made it easier than before to maintain and cleanse contact database.
Old school one-time data appending
In the past, data issues were solved with one-time data audits. Then, once the project was complete, companies would promptly forget about data maintenance until the next time their data decayed to the point it was no longer usable. While there’s nothing inherently wrong with this process, technology has allowed for more advanced, ongoing data hygiene practices. And, unfortunately, one-time data fixes are no longer a match for data decay.
To change this old school method of data append, companies have come up with automated data appending services. As your prospects and customers change jobs and contact information it’s critical that you keep up with them. Rather than scheduling the occasional data audit, you must now integrate database maintenance and ongoing data hygiene into your day-to-day workflow.
“Organizations must shift their focus from one-time data cleansing to ongoing data maintenance to turn the tide.” SiriusDecisions. So, we launched DataGenie which classifies and addresses CRM data challenges and marketing automation technology data health with detailed visualization. We deep dive to showcase Good, Fair & Bad data status. The real-time enrichment provides you with clean and more reliable enriched data for sales and marketing to generate better ROI and drive revenue.