Your B2B contact database is one of the most treasured assets of your company. These contacts allows you to reach out to right decision makers, thereby driving your marketing efforts and boosting business growth. However, it is very essential to take right steps to nurture and maintain your contact database, if not done on right times in frequent intervals it can become a burden around your neck.
Therefore, it’s significant to sanitize your marketing data. Data Enrichment – is also known as data refresh & data cleansing – it’s the process of verifying your database and making sure it is of the highest possible quality. Refreshing your contact database at regular intervals will avoid a scenario where you are coming across low ROI on your marketing campaigns. After all, you spend so much efforts in creating creative campaigns your unhealthy contact data should not be a reason of low ROI.
Let’s go through three simple steps you can take to achieve a high-pitched clean B2B database.
1. Remove duplicate records: This may sound a very simple and straightforward process it can be time consuming if you have a large or small your database is and what’s the current health of your contact database.
It is very crucial to get rid of the duplicate records as reaching out to the same company or individual more than once can be an issue. Firstly, more money is spent and uses up your resources – particularly if you are reaching out to individuals with phone and emails. Furthermore, it makes you look unethical and sloppy – even if your campaign itself is outstanding.
Once you’ve discovered that you only have one of each data record, it’s worth going through them with a microscope amending any errors. For e.g., are there might be missing details or spelling mistakes? Filling in the missing gaps will boost the significance of your data. Also, ask yourself whether your records are reliable. Is each of your record categorized? Are they structured in the same way? Making all of these changes will ensure that your data works as hard as possible for your organization.
2. Get rid of dead leads: B2B data decays at an extremely fast pace – and this begins to decay as soon as it is collected.According to researchers, “B2B data decays at the rate of 35%per year”.
There can be several causes why records can be irrelevant. Individuals move to a different organizations, change roles. These are few common causes so you just need to do your best to keep them updated.
By sending messages to the dead leads will not only waste your resources and time but will yield a low ROI on your marketing campaigns. For example, in email campaigns mostly we have low open rates, more hard bounces and lesser click-through rates.
You can always have a suppression file to identify leads that are no longer. This will allow you to recheck your records with your master database of records which should be updated on regular basis. By carrying out this activity you can easily point entries that needs to be refreshed or deleted in some way.
3. Check if your data is GDPR compliant: In the UK, there are a various rules in place to protect individuals and businesses against unsolicited marketing messages, one amongst them which is blooming this year is GDPR (General Data Protection Regulation). GDPR is now becoming the biggest European issue, it has speculations that it will impact worldwide firms specially the marketers who deal with clients/prospects in UK. As marketers you need to be aware if your data is GDPR compliant. If the country information is not updated in your record for a particular records, and you reach out to those records via your campaigns without even understanding the geography at which the contact is located; then you can be in a serious issue. While getting your data in compliance with GDPR laws can be tedious now but it will only reduce your pains for later. You can have a much more leaner and targeted contacts in your CRM’s top reach out to your campaign open rate/ ROI will be higher than usual.
To recap data enrichment will help you with various benefits like;
- Improve precision rate of contacts and remove duplication
- Increase response rates of your marketing campaigns
- Ensure GDPR compliance data
- Power your marketing efforts