With easy disposal of data at every organization’s doorstep, it forms the life-blood of innumerable business operations and success strategies today. Data is a valuable asset for organizations regardless of the industries or verticals, especially when multi-channel marketing campaigns are rolled out. Likewise, maintaining the data records of potential leads for immediate or future reference is the topmost priority for growth-focused business players.
So, a question worth wondering here is what happens when the entire customer database is left idle for a long run? The answer is pretty simple—your database becomes old and redundant. It is because people change their postal and email addresses, phone numbers, quite often, whatever the reason may be.
One very clear thing is, sitting on heaps of data won’t take your business anywhere. It must be accurate and updated at regular intervals to make successful CRM initiatives and revenue-driving strategies; and this is where the data cleansing process comes into the spotlight!
Understanding the Data Cleansing Process
Putting it simply, data cleansing is the process of removing errors, inaccuracies, anomalies, and redundancies from a database to keep its quality top-notch for future use. This approach facilitates the decision-makers with segmented and accurate data. It can be used to enhance multi-channel marketing initiatives and streamline bottom-line operations.
Stakeholders can address challenges like troubleshooting, manual data correction, incorrect invoice data, error rectification, etc., by availing of professional data cleansing services. Adding all these forms a sizable portion of the operational expenditures—which can be reduced significantly, provided organizations keep their database clean and competent.
After all, the true potential of customer data can be harnessed in a meaningful way only when it is correct, consistent, and coherent.
Importance of Clean & Updated Databases
Before beginning with the importance of data cleansing, consider the stats sourced from Techjury which states “Poor data quality costs the US economy up to $3.1 trillion yearly.” Aren’t these figures a matter of concern?
There is quite a possibility that you are wasting a substantial amount of your direct marketing budget since the data you are relying on is no longer up-to-date. Without accurate and updated data, you not only lose on potential customers, but also fail in implementing effective strategies that drive business growth. Apart from this, numerous other factors vouch for the data cleansing process. Take a look:
- Access to clean and timely updated customer data helps you to create the right business impact by reaching out for maximum responses.
- With clean data at your disposal, you can mitigate potential business risks and remain GDPR compliant.
- You save a lot of resources (in terms of money, efforts, and time) incurred on various marketing campaigns created with irrelevant data.
- Your sales and marketing team doesn’t have to spend time looking for quality leads as you can identify unresponsive contacts.
- And the cherry on the cake, you can reduce your bounce rate significantly by eliminating inactive contacts from your database.
You know the consequences of keeping your customer database idle for a long while. Therefore, it is important to regularly cleanse your customer database to stay ahead of the competitive curve, especially in data-intensive industries such as finance, banking, insurance, telecoms, retail, and so on.
Benefits of B2B Data Cleansing Services
Data lays the foundation stone for a majority of b2b marketing and lead-generation activities. It lies at the heart of all such initiatives and is notably one of the vital resources to ensure the success of ongoing campaigns. Thus, businesses whether big or small, need accurate data to drive online and offline customer engagement for their offerings.
However, cleansing the entire database is a massive project. Performing it in-house or relying on available data cleansing tools, isn’t a feasible option always—eats up your precious resources! So, instead of spending countless man hours and facing other problems, procuring professional B2B data cleansing services for fresh information is a smarter move.
Collaborating with data cleansing service providers takes off the burden of database management from your shoulders completely and allows you to focus on core business competencies. Elucidated here some of the benefits of forging such strategic partnerships:
- Maximized ROI
With CRM data cleansing services at your rescue, you can accelerate time to value. The professionals assist you in improving your sales performance by offering you real-time access to quality and accurate data. You can generate sales-qualified leads (SQL) and minimize the costs incurred on inaccurate data. Besides, a clean and updated database helps you identify potential leads and valuable clients from the list so that you can create personalized communication. Hence, this maximizes conversion and engagement rate and yields higher ROI.
- Smart Decision Making
Accurate data automatically translates to better business intelligence and analytics. This facilitates improved decision-making and smarter campaign execution. As a result, the overall productivity of the organization, in terms of sales and revenue, increases notably.
- Optimized Operational Expenditures
Maintaining data centres, data servers, or databases is expensive, which many companies cannot afford given the current pandemic situation. In such a case, engaging in CRM data cleansing services helps you cut down storage costs without compromising on data integrity or privacy. Isn’t this an expenditure optimizing feat?
Key Takeaways
In the end, you know the importance of the data cleansing process and how it helps you in cutting through the competition. Partnering with experienced data cleansing companies helps you get clean, consistent, and coherent databases without trading off their integrity—they have the right blend of skills and experience. So, all you have to do is find the right professional partner!
An experienced data cleansing service provider like Damco offers a collaborative workflow to the clients. The professionals here manually check every entry for its accuracy and ensure that your email reaches the right delivery address. If needed, they can also call the individuals to verify the contact details.
