Data accuracy is the buzz word in the marketing. Marketers are tired of bouncing emails, disconnected phone numbers and non-existent contact persons on the list. They spend huge amount of money on marketing and most of it goes waste as it fails to reach the target audience. In fact, a survey by Experian research in 2014 states that poor quality data has costed 75% of potential income for business along with wastage of time, man-hour and resources .This is a common scenario across the world.Marketing Database
With competition growing by leaps and bound every firm wants to reach the correct contact person to make maximum impact on the target audience. So, they do not hesitate to invest in marketing. However, they realize these investments would provide fruitful results only with clean and validated data on the marketing database. Achieving this clean data is laborious task for most businesses. Marketing and sales data need to be updated constantly. As per a survey on an average, every 30 minutes 120 business addresses change, 75 phone numbers change, 20 CEOs leave their jobs, and 30 new businesses are formed(Source: D&B The Sales and Marketing Institute). These are very difficult tasks for any business to do it by-self.
Enriching business with database cleansing, validation and update
More than 53% of companies suffer business losses, regulatory issues and loss due to incomplete or poor quality data. For example: If mailers are constantly sent to wrong ids, eventually these email ids are blacklisted.
On the other hand, companies have seen 57% increase in customer satisfaction with up to- date clean and relevant business data. They also observed:
• Increased profit: The marketers are able to reach out to the target segment easily. There by about 50% reduction in sales prospecting time and better sales conversion
• Significant reduction in operation costs: The resources are not wasted following up wrong prospects. The sales team productivity also goes up.
• Better return on investment on sales and marketing campaigns: Having the complete information on the target market beforehand makes it easier to channelize the marketing efforts accurately.
Ascend2 reported that around 54% of marketers find lack of quality data or complete information as hindrance in marketing, only 12% have attempted to improve data completeness. The lower figures are mainly due to lack of knowledge or manpower to clean up the database.
Data validation, cleansing and update with Hamzavi Solutions
Cleansing of database should be carried out on a regular basis and is job of a professional. It requires segregation of the useful data from the rest. Next step would be verify and update the information. As more and more new data add up to the database, this task becomes very tedious.
Entrusting this task of data validation, cleansing and updation to a reputed firm like Hamzavi Solutions will relieve the business of worrying about data accuracy and its maintenance. Hamzavi Solutions provides Database Research Services in many fields like database building, database update, business research, data verification etc.
At Hamzavi Solutions, we use:
• Our domain and business knowledge to classify the available information in the existing database
• Propriety tools to remove duplicate entries , identify missing information and structure the database
• Our contacts, Market Research and business intelligence services to
o Verify existing information on the database and updating them wherever required
o Appending the missing information
Hamzavi Solutions have proved to be a valuable partner for database cleansing, data structuring and enhancement for many businesses in the past. Apart from data validation, there are other services offered by Hamzavi Solutions like B2B database list building, lead generation and market research. All the services have a common baseline of being Agile ! Actionable! Accuracte!
