Bad data can negatively affect a business
For businesses embarking on any type of marketing campaign, the quality of the data you use is crucial to its success. Using incorrect or out of date information can have a negative effect on a business’ reputation and it makes the database ineffective. It is vital that any database is maintained regularly and that there is a strategy in place to ensure the quality of the information is high, bad data is bad business.
The problems of bad data
A survey from Sirius Decisions found that a quarter of B2B databases are inaccurate. Amongst the businesses that were surveyed, 80% of them were using phone details that were classed as risky and 60% had a data health rating of “unreliable”. Most businesses underestimate the problems caused by bad data. However, these can be long term and even affect the results of future campaigns.
Inaccurate data has a major impact on attempts to generate new revenue streams and successfully engage with customers. It can also cause the business to be blacklisted by Internet Service Providers (ISPs), which would mean you’re unable to send email marketing messages.
How to maintain effective data
Maintaining a database that contains accurate information is not a simple process and cannot be done once and then used continuously for years. The database has to be regularly updated, in order to de-dupe entries, check the details are correct and requires a process of data appending. This will ensure that the business pipeline remains strong, as messages will be sent through to the most appropriate person.
A business needs to have a strategy in place for managing the data. This will include ownership, with someone in charge of sending out information and maintaining the quality of the data. Before you start any campaign, you should give your database a health check to assess the accuracy of the information you hold. Investing in your database is a highly cost effective exercise.
Once you have an accurate and clean database, it needs to be regularly maintained. Whenever you send out marketing literature by email, ensure that the deliverability rate is over 90% and monitor the conversion rates. If these start to drop, it could be a sign that your data isn’t as clean as it could be.
When you’re buying in new data, only use information from reputable sources. Ensure that there are no duplicates in the records and use a data appending service to fill in any gaps. When you find old or out of date records, file them away separately in case they’re required at some future point.
A high quality database can give your business a competitive edge. The investment will pay off with increased revenue, positive branding and a greater level of customer interaction.
Just remember – bad data is bad business.
