6 Indicators That You've Outgrown Your Data Provid
We all are conscious of the importance of B2B contact data in helping organizations meet their sales targets. Regardless of the size or sector, B2B contact data plays a significant part in sales and marketing operations. It gives teams a better understanding of their target demographic, allowing them to design targeted marketing campaigns and deploy tailored sales methods to boost lead conversion rates.
However, as the use of B2B contact data grows in popularity, and sales and marketing teams increasingly rely on B2B data to support their growth objectives, it's not unusual for businesses to fall victim to the possible threats of B2B contact data.
Here are some of the most common myths and misconceptions about B2B contact data that stifle its effectiveness-
More is Always Better
The idea among B2B sales teams is that the more data they have, the better. In truth, having too much data can make it difficult to use B2B contact information effectively. It's tough to keep a corporate contact database structured if it stores every single piece of information. Duplicate entries appear, and the data's integrity deteriorates. All of this leads to ineffective sales attempts and a failure to understand an organization's genuine target audience. According to a 2017 Gartner survey, a typical company wastes over $15 million per year due to incorrect data supplied by sales teams.
VLMS simplifies the maintenance of corporate contact databases by addressing the issue of incomplete data. In just one year, our human verification teams may increase a company's B2B contact data by nearly 15 times.
Something is Better than Nothing
This misperception has grown as the necessity of a corporate contact database has grown. Organizations who struggle to keep track of B2B contact information believe that even if they can't keep track of all the information they need, it's best to keep track of part of it. However, this inadequate B2B contact data is generally meaningless.
You can't contact a potential customer without their email or phone number. Even if contact information is accessible, marketing campaigns that are well-targeted and convert require Intent Data or buying triggers. Accurate data with all relevant information must be acquired and kept in order to effectively use buyer data.
Human Errors is not a Concern
The sales team of most B2B organizations intends to develop their corporate contact database as rapidly as possible. However, this degrades the data accuracy entered into the database. Simple mistakes increase, and the data that remains is frequently imprecise. The contact information is incorrect. There are loopholes in the tracking of the customer's purchasing habits, as well as other issues. When these mistakes accumulate, they can significantly reduce the amount of lead conversions. The outcomes of targeted marketing campaigns will also fall short of expectations.
Buyer’s Data to be Recorded Once Only
This misconception is one of the most serious faults in most companies' contact databases. Most sales teams never go back to update a potential lead's contact information once it has been captured. However, in the world of B2B sales, contact information quickly becomes obsolete. With the support of our 90-day re-verification system and research on-demand teams, VLMS tackles the problem of stale buyer data. With our B2B contact data, VLMS guarantees 95 percent accuracy.
There is no need for data recording to be systematized
It may appear that collecting data for the company's contact database is an easy operation. However, an examination of data storage procedures used by various companies revealed significant variations in data recording. Contact details are not always maintained in the same manner, personnel information may be stored under multiple job titles, and a slew of other issues arise.
Due to these inconsistencies it becomes impossible to use data effectively. When the sales or marketing teams need to filter the data, they can't find accurate search results. This indicates that even when information is stored in the database, it is not accessed. Data recording standardization is critical for all businesses. However, this may necessitate a lengthy and costly training process.
Internal data management can be replaced with VLMS. Our corporate policies ensure that all VLMS data is consistent. Customers obtain the exact leads they're looking for when they use the sophisticated search sales intelligence filters.
Rather than attempting to manage their buyer contact database on their own, companies turn to specialized B2B data suppliers like VLMS. With the support of VLMS and buyer Intent Data to help optimize sales approach, our customers have experienced great changes in their CRM data and sales grassroots efforts.