Your business runs on information. Every business does. What are you doing to make sure your information is up-to-date?
For many, the one and the only way to do this is to invest in data cleansing services. Unfortunately, not every company is built to the same standards. Some companies use outdated practices to obtain the information they’re assigned to find. Data cleaning involves a painstaking process to guarantee all info is accurate, nothing else will suffice.
But how can you tell if your data cleansing needs a scrub down of its own? Are there tell-tale signs you aren’t getting the right information?
Let’s answer that question by looking at a few of the side effects of inaccurate data.
You’re Hemorrhaging Money via Your Marketing Budget
According to a report from RingLead, bad quality data costs companies some $14 million plus per year. Also, approximately 20% of all companies’ data is ‘dirty’ or outdated. Can your company afford to lose millions each year? Probably not.
But how does it directly affect your revenues and budget? Bad data results in wasted time and leaves your team working overtime to accomplish nothing. Sending invoices to the wrong address, following up on leads via old phone numbers, and sending emails to inactive accounts does nothing but waste time.
If you notice your marketing budget isn’t producing the results you want, it could be time to take a cold hard look at your data.
You Receive Little to No Updates About Your Data
Does your data cleansing service rarely contact you? If so, the data your team uses could be ‘dirty’. Pro data cleaning companies understand the importance of scaling and expanding data as your business grows. They know how to adjust to speed, volume and demand and can keep your data valid and consistent.
A bad data cleansing company will cost you money and that cost will continue to increase year after year. If you aren’t receiving consistent, accurate and timely updates on data for your company, it could be time to look elsewhere. In contrast, a company with quality data could save some $1.8 million in revenue in a single year. We’re sure you’d prefer to be in the latter of these two categories.
Your Team Has Limited Data Access
The best data cleansing services are able to quickly and easily integrate data for several departments. For example, your marketing team, sales, and accounting departments should have quick and easy access to your data. If you find that your team is having trouble getting the information they need to perform their job accurately, it could be a data problem, not a productivity problem.
Ease of integration between each department will also save you money on overtime and other similar budget drainers. Smooth integration between each part of your team will also increase morale and make your working environment all the better.
Not convinced? Check out what Channel Marketer Report has to say about the importance of data integration.
Your Forecasts are Way Off
Did you plan your quarterly and annual sales only to be sorely disappointed by the results? The reason could be bad data.
Your competitors likely have good data on their side, or at least you have to assume that they do. With that in mind, how can you plan your marketing, advertising, and targeting efforts if you have limited data or data that is completely useless altogether?
KissMetrics discussed how companies that are making quick decisions that aren’t backed by quality data suffer big time. You don’t have to be one of these companies, however. There are ways to navigate data and get the best results each time you revamp your marketing strategy.
Your Data isn’t Out-Dated. It Just Isn’t Targeted
Clear and concise data that targets your ideal customer is what your business needs. Businesses who use data cleansing services that remove the wrong customers are almost worse off than companies who don’t perform data cleaning at all.
What you need is to use data that has been clearly vetted, reviewed, edited and finalised by a company that fully appreciates and understands the value of high-quality data. That company is Ethicall.
We take pride in delivering data cleansing services that are dedicated to making your company better. Don’t let your customer service suffer because you don’t have the right data. Don’t be among the 28% of companies who have trouble delivering email because they have bad data. Instead, maintain quality records and improve your data and customer service by using services designed to keep you in business.
Contact the Ethicall team today to learn more about how data cleansing services can make all the difference in your bottom line.