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Every Bad Data You Can Find in Every B2B Telemarketing Campaign
Insufficient data in, incomplete data out. For B2B telemarketing campaigns, incomplete data means a lot of bad news for companies. Working on harmful and inaccurate data results in the following:
- 27.3% or 546 hours/year wasted time of sales reps
- 12% of company revenue loss
- 21% of wasted marketing budgets
- Smaller companies lose 6% of annual revenue
- 21% of companies suffer from reputational damage
- Insufficient data costs U.S. businesses more than $611 billion annually
It doesn’t matter if you get the best partner from a telemarketing services company if they work on your insufficient data.
Insufficient data has caused wasted time, wasted marketing budgets, revenue loss, and reputational damage.
After all, data is crucial in shaping your B2B telemarketing, whether you are a first-timer in this strategy or a business that has been using it.
It is good to note that a 75% success rate of marketing strategy relies on accurate and updated data.
Sources of Bad Data in B2B Telemarketing?
Two primary sources of evil can affect your B2B cold calling services, B2B telemarketing, and eventually your business profit and revenue. These are the following:
- Poor data from the start due to data entry errors or the purchase of unverified lists
- Deterioration of data quality over time due to natural data decay or poor CRM maintenance
Insufficient data means inaccurate sets of information. The following are insufficient data common in B2B telemarketing or B2B cold calling services.
| Poor Data (Pre-collection) | Data Decay (Post-collection |
No DataUnfortunately, some businesses do not believe in the importance of good data or data in the initial stages of any B2B telemarketing campaigns. Business demographics that usually suffer from this misconception are small to midsize enterprises. |
Outdated DataData decay is inevitable and is the natural death of data sets. Changes in the following information drive this: 1. Email 2. Contact Number 3. Change in Positions 4. Change in Company Name 5. Shutdown of Company |
Missing DataThis is due to missing or incomplete data fields. To illustrate, you could have the name and position of your targeted vital decision maker but no contact number or email. This is still insufficient data and therefore needs verification to complete or eliminate. |
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Duplicate DataThis happens for various reasons: migration, manual data entry, third-party connectors, data exchanges, and batch imports. Commonly duplicated data are Leads, Accounts, and Contacts. |
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Inaccurate DataThere are tons of reasons at play here. This could mean wrong input of information into the inaccurate data set or false information altogether. Discrepancies like misspellings, wrong attribution, or typos could lead to this insufficient data. |
From the table above, misbehaving practices in data entry work result in insufficient data. However, data decay is also a factor you need to consider, as it affects your whole database.
What Kind of Data Sets for B2B Cold Calling Services are Prone to Data Decay?
Let’s say your database does not possess what we listed above as insufficient data. Yet you are still missing targets and suffer from the consequences of inadequate data.
The culprit is data decay. Unlike fine wine, good data does not age well with time. Such is inevitable.
Statistically, there are 25% data decays per year. What data suffers from data decay, and what is the percentage? Take a look at the following figures.
| Data and Information | Percentage of Data Decay |
| Lead Change Positions | 65% of people change jobs or titles a year
21% of CEOs change per year |
| Contact Numbers | 43% of people change phone numbers per year |
| Email Address | 37% changes email per year |
| Shift or Changes Companies | 76 people change jobs every minute |
| Name Change of Companies (acquisition or merger) | 34% of companies change their name annually |
| Postal Address | 20% changes annually |
From the table above, we can conclude that the crucial information you need for successful outsourced telemarketing is prone to data decay.
How Bad Data Affects Your B2B Telemarketing Efforts?
These are the effects of insufficient data on your call center telemarketing or B2B cold calling services.
1. Kills your marketing campaigns
It doesn’t matter how brilliant your marketing is, whether email, social media, or telemarketing, if you are working with insufficient data.
Insufficient data gives your sales representatives and telemarketing agents the wrong information. Your agents could be dialing the wrong numbers, wasting effort.
42% of sales reps believe that working with patchy and inaccurate data sets hinders them from doing their job well, which may result in poor-quality leads or poor conversations.
Insufficient data also leads to mismatched marketing messaging and wastes budget allocation and time. Imagine sending hundreds of emails to non-existent recipients.
2. Decreases Customer Satisfaction
Outsourced telemarketing works well because it provides a genuine conversation between your business and customers. Nurturing existing clients while pursuing new ones makes telemarketing an effective tool for increasing ROI.
Bad data can ruin this effort for your business. To illustrate, email personalization is a strategy in your B2B telemarketing campaign. Imagine addressing the person with the wrong spelling of their name, company name, and current position.
This gives the impression that you do not know your loyal customers. Worst of all, you did not even take the time to get to know them.
The same applies to B2B cold calling services. Your agents referencing insufficient data may not adequately address the critical decision-maker, which could turn them off.
3. Wasted Budget Allocations
Insufficient data also affects business projection and strategy. When you base your judgments on dirty data, you may allocate budget and efforts to unproductive business strategies.
Tainted data also hinders you from getting to know your core business persona, which leads to failure in creating marketing messaging that will resonate with them and in delivering it at the opportune time to maximize its potential.
How to Measure Data Quality?
You can take various steps to ensure your database is as pristine as it should be. It would be best if you asked the following questions:
| Pre-collection | Post-collection |
| Data Availability
Does your business have a database? |
Trending
Do you have the latest and current information on your leads? |
| Validity
Are these data values acceptable and valid? |
True
Does your database correct and represent timely and accurate information? |
| Consistency
Is the data based on universal truth? Are there variants available in different locations? |
Tenable
Is your database consistent and relevant? |
| Integrity
Is the relationship between the data set and corresponding data entry accurate? |
Thorough
Does it cover all the basics to carry out granular segmentation? |
| Accuracy
Does the data value portray accurate and defined data properties for the object model? |
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| Relevance
Is the data appropriate or relevant for the data objective? |
Periodic review and update of your database will help your outsourced telemarketing and B2B cold calling services be a success.
Remember the 1-10-100 rule when dealing with insufficient data. It costs $1 to verify data in the pre-collection stage, $10 to fix erroneous data, and $100 when you do nothing about it.
Benefits of Good Data for Your Outsourced Telemarketing
You reap the following benefits when you let your call center telemarketing services work on good data.
1. Good Data Helps You Identify Your Target Audience
B2B telemarketing success happens when you deal with a target audience that is as specific as possible. Your good database lets you identify your ideal customer profile or target business persona.
This sets the tone for your whole marketing campaign, including your B2B telemarketing efforts and B2B cold calling services.
2. Better Marketing Strategy
With a clear picture of your targets, you can create a marketing message they can relate to. Also, you can identify which channels (social media, website leads, cold calling, inbound telemarketing) provide you with the most deals. This way, you can focus on these or improve or eliminate your weakest marketing link.
3. Reduce Duplication and Marketing Redundancies
No one likes spamming with marketing content through email or calling them twice. You can avoid these redundancies that cost money, time, and reputation with good data.
Magellan Solutions Provides Data Entry and B2B Telemarketing Services
Our 18 years in service guarantee your business that we know what we’re doing. We strive to maintain the quality of our service delivery.
If you suffer from insufficient data, we provide excellent data entry and cleansing services that suit your needs. Depending on your needs, we can help you create your database or clean it up before you start outsourcing telemarketing with us.
Our telemarketers are excellent at intelligently conversing with your target B2B companies. We also use the latest CRM tools to ensure our process stays efficient at all times.
Magellan Solutions is ISO 27001-certified and follows strict ISMS protocols to ensure your data is safe with us. We are also GDPR and HIPAA-compliant. This is our pledge to stay relevant when it comes to information security.
Contact us today, and let’s work together to increase your ROI. Let us deliver custom-fit solutions to address whatever you need. Fill out the form below!
