Author: Gary Brandon, Commercial Director at DBS Data

Washing our hands more often, putting on a face covering and applying sanitiser when we walk into a shop has become part of our normal life. The daily routines don’t take long and cost little, but they have a big impact on our own wellbeing and those we come into contact with. The same can be said for good data hygiene and getting into the habit of cleansing, verifying, and enhancing your marketing database can have a significant impact on the health, wealth, and prosperity of your business.

 

In recent years data hygiene has to a large extent been fixated on regulatory compliance and in fact, May marks the third anniversary of GDPR. Whilst it remains vitally important to remain on the right side of the law, it is also important that the primary function of the marketing database is to help generate leads, convert prospects into customers and make a positive impact on the bottom line. And to be frank, given the past year we have all experienced, how many businesses can afford to leave any stone unturned, when it comes to acquiring new business?

 

It has been a testing time for sales and marketing professionals in the B2B sector, with many of the usual lead generation activities – notably conferences, exhibitions, and seminars – being abandoned or switched to virtual affairs. Marketers have found themselves needing to adapt their strategies and embrace more data-reliant methods of engagement, whether it be email and telemarketing initiatives, social media campaigns, or print-based direct marketing. The problem many have faced in accelerating or upscaling their activities in these areas has been the quality of data not being there when they needed it, resulting in lacklustre results.

 

As data professionals we can sound like a broken record when talking about the impact of data decay, but we do it for good reason. The culture of quantity over quality is hard to break and it is easy to fall into the trap of constantly seeking more data, as opposed to maintaining the health of what you already have. The reality is that data deteriorates at approximately 30% each year, and as we are all painfully aware, the past year has been one like no other. Offices have closed, staff furloughed or made redundant (many of whom have chosen to start their own ventures), businesses have ceased trading temporarily or permanently, and there is a boom in the housing market triggered by relaxed Stamp Duty and the shift to more flexible working. All of this will have an impact on the quality of data held within the marketing database. Of course, we must also consider the painful reality that this pandemic has claimed the lives of so many people. As a result the estimated 30% annual rate of data decay is likely to be far higher.

 

Put simply, if your data has not been cleansed since the start of last year, any campaign or activity running now has significantly less chance of success. Or, to put it another way, every campaign is costing more than a third more than it should. Wait until the end of this year to act and your marketing database could be just 25% accurate!

 

Regardless as to whether your organisation is an SME or a large enterprise, the cleansing, verifying, and enhancing of a marketing database is quick, available, and affordable for all. It will ensure every record held is up-to-date and accurate at both a business and contact level, as well as validating contact information including telephone, mobile and email addresses. Not only will this reduce wastage (if doing print-based direct marketing), but it also helps to ensure your digital campaigns are reaching your target audience, wherever they are choosing to work.

 

Of course, having a data hygiene regime provides much needed confidence that the message will get to the right people, but the question still remains – when is the right time to share it? At a tradeshow or event you can easily determine who is in the market for your product, solution or service, but how do you pinpoint precisely where a prospect is in their sales cycle? You may be surprised to know that our insight services can help you make the right decisions with your data and customer communications.

 

There are only positives to be gained from starting, recommencing, or improving your data hygiene habits, and the sooner you start the quicker you will reap the benefits. Ultimately that will be shown on the bottom line.