Bad Data Quality Is Killing Your Lead Generation and Pipeline
Data quality is one of the most common issues we find when optimizing our clients’ marketing automation implementations.
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 decisions you’re going to make are more likely to be in error.
Many factors contribute to “dirty data,” or low data quality. This can arise when you upload data without adequately validating it (remember that event list that you had to respond to right away?). Or when salespeople enter random information into a required field in your CRM. Another contributor is when your database is outdated.
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:
Forty percent of data is inaccurate. Put another way, you’re losing 40% of your opportunities to gather leads or convert opportunities 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. And this doesn’t account for the problems this may cause with your email sending domain… but that’s another article all together.
Analyzing and Fixing Data Issues
How you can wrap your arms around a data quality problem? It isn’t easy, but you need to do it to improve your marketing and sales results. Here are some quick steps to follow:
- Size the problem. Complete an assessment of your data (or hire someone to do this for a more objective analysis).
- Identify specific origins of bad data. Look at processes where you and your team add data. Follow the path back from when bad data points enter your system.
- Discuss challenges with people who use the data. Often, team members don’t understand the problems that bad data can cause.
- Use an email or data validation tool. NeverBounce or ZoomInfo can help here.
- Review data collection methods. Test every form on each landing page to identify any challenges with them.
Once you know what is causing data issues, it’s time to fix them. To account for tech stack complexity, work with an expert who knows how to address integrations.
Additional recommendations we make include implementing business rules, standardizing data collection, validating integrations, and training anyone who uses your data.
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.
Image from Halo Business IntelligenceTags: demand generation, lead generation, marketing automation, marketing automation tools