June 05, 2018
According to customer acquisition platform Convertr, 35% of lead data submitted on forms is flawed.
Data validation is a crucial tool for every business as it ensures your team can completely trust the data they use to be accurate, clean and helpful at all times. Making sure the data you use is correct is a proactive way to safeguard one of your most valuable, demand-generating assets.
The real cost of bad data
Bad data can have a huge impact on an organisation, and not just when it comes to money.
A recent survey from Convertr found that more than one in four leads that are processed are invalid. Of this:
• 30% are due to an incorrect phone number,
• 28% are down to invalid email addresses, and
• 27% are because of a fake name.
Other research from lead management firm LeadByte suggests that as many as 65% of leads from cost per lead driven campaigns were also false; further proving that incorrect or invalid data is a huge problem in the business world.
Essentially, what this means is that your £50 cost per lead will look more like £65 or £83 as a result of this bad data.
Invalid data wastes company time, resources and money. Where there is no validation system in place for your incoming leads, it is near impossible to properly understand the effectiveness of your marketing and lead generation activities such as SEO and pay per click.
Quality data is paramount for accuracy and reliability.
Why is data validation so important for your business?
Data validation ensures the information you hold in your system is correct. This can benefit your company in a wide variety of ways, particularly when it comes to sales.
Your sales teams depend on reliable data in order to build up and maintain accurate sales leads lists and to pitch to potential customers. If you’re forever calling disconnected lines or writing to dead email addresses then it will be impossible to keep your sales pipeline full.
Every second spent calling invalid numbers and updating files is time that could be spent making a sale. incorrect data wastes company time and could potentially mean you miss out on a lot of opportunities.
According to research from Inside Sales, as many as 50% of buyers choose the vendor that contacts them first, so having invalid information and phone numbers could be holding you back when it comes to establishing yourself with a potential customer.
Business contact information should always go through the data validation stage, so it can be checked against various other databases for anomalies, ensuring the details on your file are correct.
Data validation is essential to businesses at any stage, not just when making contact with clients. When it comes to existing customers, corporate hierarchies, executive rosters and financial details, working with good data you can trust is absolutely vital.
We can help
At Adetiq, we combine the very latest automation technologies with skilled resources to provide you with the best possible data validation services.
Having your employees manually verify details every day is simply not feasible. Our industry-leading techniques allow us to validate data quickly and accurately; providing your teams with up to date, correct and complete information whenever they should need it.