If you have used contact databases for your marketing / sales campaigns, one thing you would agree that quality of data is something which is always ‘wanting’. If you manage contact data for your organization, you will more often than not hear from your sales, inside sales or campaign manager that ‘data is not good’!
So in order to assess the quality and see if it’s bad or good, the components of contact data need to be defined beforehand. Here are the ‘4 C’s of contact data quality’:
Correctness:First and foremost, is the data accurate? Especially if Email Ids, Phone numbers and company address are wrong you will lose out on usefulness of data. If percentage of wrong email ids is high in your data – hard email bounces also impact your email deliverability in the long run. Similarly wrong address and phone number are waste of your direct marketing and Sales/ inside sales team’s efforts. Moreover, are all the data fields in data as per your specifications? Correct data fields enable you to do correct tagging for list segmentation, campaigns, etc. Also, no one wants a wrong First Name or Company Name while E-mailing or calling using a contact database!
Completeness: Ensuring that all prescribed and required data fields are populated. Missing data hampers optimum utilization of the database. Are the data fields present as per your format/ requirement, and not as in any standard template?
Also consider this – are you able to derive any insight from your data? For example, can you find out basic lead qualification criteria like Budget Authority Need Timeline (BANT), Company Type (Primary market, size of business, line of business, etc.), role based segmentation, etc.
A complete contact database helps in qualifying contacts as well as running target campaigns
Current-ness: People change Jobs change, their roles get changed – is your data is regularly refreshed to capture the changes
Also current-ness means being able to do trigger based marketing campaigns based on market events like Mergers & Acquisitions, Management changes in target accounts, expansion plans, industry trends etc. As it’s said – it is all about hitting your prospect with the right message at the right time. Having real-time actionable database would provide you that edge over your competitors.
Customization: This is all about ‘Getting what you need’, and not ‘What is available in the market’. It’s as simple as this – you know your business and your target audience the best; so you should be able to devise your marketing campaigns first and reach out to your audience. Your contact database has be in accordance with marketing strategies; not the other way around!
If you have not yet considered these four C’s while building your business database, it would be ideal to take a pause and think. Are your direct marketing campaigns getting the expected returns? Does it have to do anything with these four C’s!