8 reasons to refresh your business data

23 October 2019

Read our 8 reasons on why it is important for your business to refresh and keep your business data up-to-date.

23 October 2019

Using poor quality business data can cause significant problems for your business, so we take a look at some of the reasons why you need to refresh your business data on a regular basis.

1. Putting your company’s reputation at risk

Not referencing the right information, be it contact, company or product/service could damage your company’s status and reputation

2. Inaccurate or shallow data targeting and segmentation

Failure to focus your sales and marketing efforts by targeting the wrong customer segments is both inefficient and can result in a poor return on your investment

3. Poor data can prove demotivating to your sales team

Your sales team are a valuable resource and wasting their time and your resources following up poor data leads can prove to be hugely discouraging.

4. Potential loss of your customers

Out of date data that relates to your customers will not endear you to those clients and can reflect badly on your business credibility and reputation.

5. Inability to track your lead source efficiently

Being unable to monitor the effectiveness of your sales campaigns can adversely impact your future sales and marketing strategies.

6. Potential waste by medium

Marketing campaigns whether direct mail, print or email can be very costly, so ensuring that you have good quality business data is really important.

7. Negative impact on future sales opportunities

Potential clients will not take kindly to poor data relating to their company; this could negatively affect your opportunities to win new business.

8. Cause conflict within your sales teams

At the best of times, inaccurate and poor data is difficult for any sales team to work with. It causes issues with follow-up calls and limits customer touch-points, causing frustration and negativity in your sales teams.

Here are some key ways to help keep your database clean and up to date:

Keep it centralized – try to avoid holding multiple data sources – that way there is only one place to search and update. Of course that is easier said than done, but tools such as Zapier can be used to link & share data between web based apps.

Keep it segmented – implement segmented target groups – based on buyer personas and campaigns sent, as well as their relationship with you (prospect, existing or lapsed customer)

Keep it updated – add new data immediately as well as updated campaign results

Keep it clean – keep an eye on email results & make sure you manage opt-outs & bounces responsibly

As data specialists we at Kompass have been in the B2B data industry for over 60 years – it’s what we do best. Our goal is to help businesses understand customer data and how it can be used effectively. With data available from 70 countries, focused searches can be created on specific sectors, using our uniquely detailed 55k product & service classification system.

We are a global data provider with locally sourced data through dedicated data integrity teams in each country, which ensures you will have access to very best quality data which in turn can help give you better long term sales results for your business.

Need data? Click here to find out more

Contact Us: #seetrybuy for a FREE 14 day trial to Kompass EasyBusiness – our market-leading global B2B directory online.

Disclaimer: Please note that this blog only contains general information and insights about legal matters. The information is not advice, and should not be treated as such. Kompass.com



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