In business, information is power. When it comes to making informed decisions about the future of your business or if you are exploring avenues to grow, accurate data is the key to success. Proper data verification and management allows companies to create and cultivate B2B (business to business) relationships, as well as B2C relationships (business to consumer).
Whether a business follows a sales structure or a non-profit framework, proper data management is key to stretching budgets, creating client relationships, building a series of effective contact methods and, ideally, a healthy conversion rate, all in a more secure environment.
Identifying Corrupted Data
Collected data can be an incredibly valuable asset but this data is useless if it is not accurate. Examples of a bad lead or contact form can include submissions with blank areas, invalid e-mail addresses, bad phone numbers and even fraudulent names or information. Accurate and reliable data helps create and maintain accurate sales or donor lists. More than compromised information alone, data can be tainted through human error, physical damage to technology, transfer errors or viruses.
Prolonged data storage can also pose issues for accuracy. Data is often stored in several areas, with various access points, pulling from a pool of outdated data is the same as taking on invalid information. When information sits over long periods, it becomes outdated quickly. Verifying data regularly increases efficiency of use as well as easy recovery and searchability.
What Makes Data Verification So Important?
Every year, companies spend thousands of dollars on risk management, but these practices do not always extend to data verification. Input validation at the outset of data entry helps preclude entering invalid data, while regular monitoring helps mitigate the risk of fraud. There is never a bad time to audit your data.
Maintaining valid databases can help to mitigate operating costs by reducing the amount of time spent following up on dead leads. From a sales perspective, reliable data helps to build and maintain accurate client lists for existing and potential customers or donors.
Calling dead phone numbers or drafting e-mails to incorrect or abandoned addresses wastes time that would be better spent elsewhere. Incomplete physical addresses also waste costs on postage and marketing materials. Regular verification practices help to divert attention from corrupted contact data, allowing focus for real and viable connections.
Validating data by hand can be time consuming, particularly with large databases. Partnering with an experienced agency to cross-check and confirm data can help reduce the number of man-hours spent by employees, while ensuring accurate results. Accurate contact information can help showcase the results of your lead generation campaigns and SEO efforts. Consulting experts can help create a complete and efficient plan to maintain, transfer or implement date usage within your company.