Marketing and Sales data can be a priceless resource. But, if you don’t have control of it, it can act as a liability. If your lead generation contact database is up to date, your ROI could be better. Your sales operation won’t be effective, even if your data is slightly out of date. Accurate data is not easy to achieve, but, you can get sales database enrichment done.
Why does your data get out of date
A new car loses 8% of its value the moment its driven out of the showroom. Similarly, data starts getting out of date as it hits your CRM. Most of the times people move companies or change jobs. What is accurate today, won’t be the same tomorrow. Studies show that one third of prospect/customer data goes out of date in every few months. So sales teams are using 50% of data which is assumingly out of date.
What’s damaging is when your sales teams call on the prospects which have already left the organization. However, what really affects revenue is the opportunities you miss because your data isn’t pointing you in the right direction. In this way, you leave money on the table.
How can you profit from accurate contact data?
The most effective way to drive revenue with data is to use the fact that it should always be in motion to your advantage. When a change happens within one of your target organizations’, it’s an opportunity for you to grab. For example:
- If your existing customer moves to another company, you can use that relationship to create a deal with the new company.
- If an organization you sell to has just been acquired, it doesn’t need to be the end of the story. What solution does the acquiring company use? Can you use your relationship to sell a bigger deal to the larger company?
Up-to-date contact information helps you to spot opportunities in real-time, which you can use to close deals faster.
DataGenie 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 data append provides you with clean and more reliable enriched data for sales and marketing to generate better ROI and drive revenue.