After using the same CRM for a long time, you may notice a consistent drop in marketing campaign results. For instance, fewer people are opening your promotional mail. Also, the number of new prospects decreases, and the sales made by loyal customers diminish. You put more money and effort into your campaigns. So, why are there less effective? The answer may come from the bad data in your system.
Successful marketing is the result of accurate data, which enables you to create stunning personalized mail. When your system gets clogged with faulty information, your marketing efforts could go to waste. Simply put, bad data costs you money, time, and plenty of resources in the long run.
Nowadays, more and more companies spend large chunks of their yearly budgets just to keep their data clean. However, there are a few ways to help you save your marketing before bad data contaminates your entire CRM system.
What is Bad Data?
Before we look into ways of solving it, let’s understand better what bad data is.
Every business collects data about its customers in various ways, such as website forms, calls, emails, surveys, purchases, etc. All of this data flows automatically into the same database creating an ever-expanding library that marketers use to develop better and better campaigns.
Unfortunately, gathering data from different channels simultaneously makes it almost impossible to keep that library clean. In time, the database gathers incorrect or duplicate information. More so, some of the data become outdated after a few years or even months.
How Does Bad Data Affect my Business?
While a tiny bit of bad data will not evaporate your ROI, a great deal of it could cost you your business. A study by Harvard Business Publishing suggests that businesses in the US lose up to $3.1 trillion every year due to bad data.
If you don’t keep your data clean, you can expect ineffective marketing campaigns. Also, you will notice that your brand’s reputation worsens in comparison to your competition. Above all, you will lose a lot of money and time on other marketing aspects without solving the only one that needs it the most.
How to Fix Bad Data?
This question is on the minds of many entrepreneurs out there. More so, they ask if it’s possible to clean bad data at a low cost. You are probably wondering the same thing.
Fortunately, there is a cost-effective solution to fixing bad data. You can start by auditing your current database. Look for inaccurate or duplicate data entries, and remove the outdated information.
Next, by using an API for address validation, you can limit manual data entry. Most of the bad data comes from inaccurate entries made by various internal teams, agents, or third-party services.
Lastly, invest in data cleaning software that does all these tasks for your automatically. This way, you will not have to worry about your system becoming clogged with bad data. In the long run, you get to save your marketing and have a clean database at a low cost and without too much hassle.
Also Read: Save Money By Moving To A Different State
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