Salespeople are motivated by money and closing the deal.Finance teams are motivated by overall financial health. Theimpact of ‘bad data’ is detrimental to both of these things.
Every week, month, and year databases are flooded with bad data. Every time your salesteams try and prospect a lead that has the wrong title, phone number, email address, etc.,they are wasting valuable time and costing you money. Is £5 wasted every time a bad lead isfollowed? Is it £10? And that is before we get into the hours and days this wastes that couldbe spent contacting good leads that convert into business and profit.
Don’t Let Bad Data Hinder Performance
Failing to perpetually keep on top of your CRM and sales data is easily done, in fact, it’s the norm. The lead contactmoves on or retires, a telephone number changes or an office relocates. Good data can turn ‘bad’ very quickly if itisn’t continually updated and managed.
Research reports that bad leads can cost up to £8.84 per lead and that 32% of data is inaccurate. This means thatyou are paying your sales teams to contact and prospect leads that will only ever waste (not make) money. Youundoubtedly spend considerable time, effort, and money designing effective marketing campaigns intended towhet the appetite, boost your brand and encourage inbound leads. However, up to 32% of this money isimmediately wasted as campaigns fail to connect to the right recipient. Annually, bad data can be costing yourcompany tens of thousands of pounds.
Whilst your teams are busy contacting bad leads, your competitors are getting the first crack of the whip on thegood ones. You could buy some sales leads, but the cycle continues as they too soon become out of date. Thesimple fact is that no one can put a true monetary cost on the price of bad data, but it is a substantial one. Thereare also other associated costs of bad data, such as fines for non-compliance relating to the GDPR. If you needmore information on data compliance we’ve got a great pdf you can download here:
How Can You Stop Wasting Money on Bad Sales Data?
A good start is to ask yourself the following questions:
- How do you collect the data?
- How often is the data managed and updated?
- Is the data comprehensive and goal-orientated?
- Does your data generate accurate insights?
- Is your data available, secure, and up to date?
You could also download our 20 Questions To Ask Before Buying Data
Here’s the 20 must-ask questions you should ask before buying B2B data which will help you tell the bad from the good and determine the most appropriate B2B data provider for the needs of your business. It not only covers specific issues related to buying data but also looks at the bigger pictureof all your data as well.
What if you had access to comprehensive and continually up-to-date live sales data? You would immediatelyreclaim the 32% of revenue wasted chasing bad leads…zero time would be wasted prospecting…100% accuratedata and leads…the subsequent higher conversion and revenues.
Data is continually changing and becoming inaccurate, however, there are cost-effective methods that you canimplement to immediately stop wasting money and eradicate the problem.
i-4business has been providing advanced business data for Europe, the Middle East, and Africa for more than 25years. This is our core focus and area of expertise.
We can help you:
- Target the right organisations with quality, relevant content
- Compliantly connect with key decision-makers
- Provide full sector/company/website/location/job roles/contact information
- A continual, exhaustive sales resource for maximum results
We are so confident about our sales and marketing data that we offer a 30-Day Free Account.
Which provides full access to our database. This lets you properlyevaluate our platform and our data by using it for live campaigns with no financial commitment and no obligationto continue. Why not see for yourself how effective prospecting really is, without bad data tying one hand behind your back?
