In Data Quality Management

Do you constantly feel the pull for newer, better, more data?  Is there always that feeling that if you could just get a few new contacts a sale would be right around the corner?  Of course there is value to new leads data, but what about the data you already have?  Your internal database is likely an underutilized gold mine, but if it hasn’t been properly maintained it’s likely in need of a tune-up.

Did you know?

  1. Up to 20% of all postal addresses change every year.¹
  2. Up to 18% of all telephone numbers change every year.¹
  3. Up to 21% of all CEO’s change every year.¹
  4. 25-33% of email addresses on a “house” file will become outdated every year.²
  5. In the next hour, 58 business addresses will change, 11 companies will change their names, and 41 new businesses will open¹ … not to mention how many companies will go out of business.
  6. In addition, up to 66% of people change companies or job functions every year!³

Scared yet?  If you’re not, you should be, these statistics are enough to worry the most seasoned marketer.  What are you doing to keep your marketing database from being impacted by these figures?   With our customer data management platform, ReachForce continuously runs a series of data hygiene reports on your marketing database to provide information on what data has been marked as ‘bad’, where it came from and how old it is.

Ok, so let’s say you already do something like this, you’ve got your dirty data bagged and tagged, what do you do now? Check out our Top 10 signs your database needs help, some of these top 10 can easily be identified in an error report, for those that you can’t identify, you really need to take a deeper dive into your data.  These things can’t be remedied overnight, but with some elbow grease and time you too can turn around the state of your database, after all, according to  Sirius Decisions, companies marketing to a database that is routed through a healthy data-cleansing routing can realize nearly 70% more revenue than an average organization, based purely on data quality.

For an idea of how dirty your data might be, check out the ReachForce ROI Calculator, with a few simple numbers from you, it will give you some real-life idea as to how much of your data has ‘expired.’

SOURCES:
¹D&B
²Lyris Technologies: “Guru’s Guide to Email Marketing Success”
³Sales & Marketing Institute