Bad Data Quality Is Killing Your Lead Generation and Pipeline
Data quality is one of the most common issues I find when working with clients on making their marketing automation software work for them.
From lost opportunities due to incorrect email addresses to wrong names/job titles, low quality data will reduce your lead generation from strong possibilities to multiple strikeouts.
And if your data quality is bad to begin with, the erroneous decisions you’re going to make as a marketing executive will be high.
This problem is also known as “dirty data,” because very often sales personnel will fill in a missing field with just any information, as many of their CRM systems require that they populate mandatory data fields with something.
Halo Business Intelligence did a survey of just how damaging bad data quality or dirty data can be to your marketing and sales efforts. Here’s a quick look below:
A high percentage of data quality – 40% – is inaccurate. Put another way, you’re losing 40% more leads and opportunities to convert to revenue.
Imagine if you sent out 3000 emails, and 40% of them – 1200 – went to email addresses that no longer worked. Now you can see how the scale of dirty data can easily sabotage your marketing and sales goals and objectives.
Analyzing and Fixing Data Quality
How you can wrap your arms around a data quality problem? It isn’t easy, but it has to be done to start improving on your current marketing efforts. First, you need to do an analysis or have someone come in and do it for you. Once you get that assessment, you can figure out the common areas that are harming your marketing program and what needs to be done to fix them.
But that’s only a start. If you haven’t defined marketing and sales objectives, and if you haven’t clearly documented them, that’s a huge process that must be done right before you can think about the work processes to clean up your data.
Things such as establishing and implementing business rules, standardizing the data your marketing automation system collects and making sure the data is properly matched and linked are all critical tasks that will help you reset your program to accurately measure how effective your marketing efforts are.
Once you’ve done this work (and there are more steps, but these are the high level processes), validate your data by testing out every form on all the landing pages in your website domain. Send out those test emails and track how they were received and opened.
Equally important, make sure your sales and marketing staff get training to use the CRM and marketing automation platform correctly.
Data Quality And Segmentation
How do you group prospect information? You probably need several segments, including geography, industries, job function and company size. By taking the time to do your segmentation accurately, you’re automatically ensuring the data that is collected is on target as well.
Don’t lose lead generation opportunities and increased revenue possibilities. Make data quality analysis and clean up a priority task early this year to improve upon last year’s figures.
Measured Results Marketing has the expertise to help you pinpoint bad data issues. We dig into your systems and discover where the problems are. We also help you develop a workable priority plan to fix the data and get it working for you again. Call us at 571-606-3106 to go over data quality issues and other marketing automation challenges.demand generation, lead generation, marketing automation, marketing automation tools