Maintaining accurate marketing and sales data can be a difficult challenge, but it is critical if you want your team to get the most out of their leads. Research shows that inaccurate data can cost a business 30% of its annual revenue. If you invest in a CRM data solution, it has to fit your requirements and budget while providing consistently accurate records.
How Data Solution Providers Update Records for Accuracy
Like other data vendors, YesData updates its database for accuracy once a month. Some providers will claim in their marketing materials that they update their records every day. Here’s the unvarnished truth: While they might technically update a portion of their database every day, remember that it’s virtually impossible for a data solution provider with tens of millions of records to update their entire database each day. Instead, they update a small fraction of their records for accuracy every day, meaning even if your prospective vendor advertises that they perform daily updates, there’s a chance your records could still be inaccurate.
Data Cleaning Solutions
It is very easy to add data to a database but very hard to remove inaccurate records. Databases such as YesData that are based on an email first don’t fall victim to this issue by continually checking for email validity.
Some data vendors offer complementary services that can help clean your records, whether they are newly purchased, or they come from your existing database. These services work by comparing your existing records to the vendor’s records on file and replacing those that don’t match.
YesData’s bulk clean feature allows you to clean your contact and company records based on your set parameters. Clean, update, or append contacts, add billing addresses, phone numbers, e-mail addresses, and other types of contact information.
Once the cleaning is performed, you can measure the overall health of your database by accessing an analytics report that shows you which individual records were cleaned and how many overall contacts in your database were updated. This allows you to determine how accurate your database is and how much of your existing data was updated during the cleaning.
The Importance of Clean Data
It’s not enough to understand the cost of insufficient data – you also have to take proactive steps to ensure that your CRM records stay accurate. By some estimates, around 70% of B2B sales data becomes inaccurate every year.
An internal audit showed that 78% of YesData’s contacts, titles, and companies are found on Linkedin. Even if you have chosen a data vendor and are happy with the cost and the type of information they provide you with, if your contact database isn’t accurate enough, you are not maximizing your return on investment. YesData’s bulk cleaning solution allows you to decide which data you want to clean, how you want to clean it, and how accurate your database is overall.