Let us face it; the world is facing a tough time amid the spread of the Covid-19 pandemic, and so are the businesses around the world. Every business is feeling the covid impact and is struggling to stay afloat. While the lockdown has brought the market to stagnation, data appending companies are seeing opportunities in these rainy days. Battling the covid-19 effects, the data appending services are amazingly gaining popularity.
Many studies and surveys have established from time to time that 50% to 75% success of promotional campaigns for b2b business is based on the consumer data store. Inaccurate and inadequate data can fail the very purpose of the campaign, let alone closing sales deals. Nearly 43% of businesses fail in their objective to reach and convert target consumers due to bad data.
The statistics mentioned above emphasize the necessity of maintaining data hygiene for all businesses. A well-designed and well-planned data appending solution help you to stay connected with your contacts with no quality compromisation. It upgrades your consumer database by proper data segregation, elimination of passive data, filling in the missing fields, and final data verification and authentication. It boosts the b2b lead generation and helps in achieving sales targets.
Data appending for b2b business
In the present day and age, consumer data is the key to every business. Researchers and analysts have an essential job to thoroughly know and understand your company’s product and its orientation and identify the target consumer. Data appending companies offer services to create and manage your consumer data effectively.
Online consumer databases and access to it is the wealth for businesses. It includes information of customers like name, contact details, physical address, email ids, and more to contact them and get more conversions. It is a good bet to begin the process of your data appending solution with the existing customers’ data. Often this data is obsolete, especially in b2b businesses as the details tend to change faster. Data appending services identify the non-responsive information and scrap it. With the help of data mining services, it also helps you identify the target audience and gather data of more potential customers to increase your reach to the prospects.
Nearly 25% of the companies do not follow a planned strategic approach for customer data management and are more likely to lose to their competition. Data mining services for scrubbing and appending data helps in b2b lead generation in many ways.
◊ Better quality and quantity of information
Data appending services provide you with rich information about the prospects, including the basics name, address, phone number, along with other details of business verticals that help to pitch your services.
◊ Clarity in data
Data collection and management are prone to errors. There can be typing mistakes, redundancy, and inconsistency and obsolete data, etc. Data appending helps in rectifying these flows and provides you with an up-to-date and relevant database.
◊ Waste reduction
Having a long list of contacts is what you need to reach out to your prospective clients. However, not all are responsive to your calls or emails. It is crucial to identify such passive contacts and eliminate them.
◊ Better segmentation
Segmentation is an important aspect where data appending helps b2b businesses. It helps the sales team to pinpoint the most valuable customers and increase the conversion of anticipated customers.
Data appending companies are on the rise in the present time of crisis
With the above discussion, it is clear that data appending is vital for b2b businesses. After identification of contacts and target companies, it is the third most sought method to manage customer data for b2b companies. Now the question arises, what is making this aspect of growing despite an overall slowdown in the market? How is the data appending companies are to gain from the covid-19 effects and this dispiriting market condition. Following ideas would explain the anticipation of growth in these services.
◊ The need of the hour
Due to covid impact, all businesses are shutting their physical outlets and moving to the virtual market of the Internet. Statistics show that nearly 90% of the brick and mortar market is under padlock. Methods of reaching out physically to your existing and prospective consumers are no longer feasible.
In such a scenario, the only way to keep your business alive is to contact the clients and prospects and offer your services through online media like emails, social media, etc. The more clients you can establish contact with, the more likely you are to boost your business after the market returns to normalcy. Data mining services can significantly provide you with quality information to increase your customer base and increase the chances of conversions. These conversions will not only help your business sustain the present conditions but also provide the necessary boost post lockdown.
◊ Its time for profiling and segmentation
In the quest for rapid growth and completion of daily operations, businesses often tend to overlook the analytics of their products and customers. The coronavirus effects have given time and opportunity to the companies to breathe and formulate the ideal customer profile and segregate them. It has also become inevitable as the covid-19 impact has changed the preferences and needs of the consumers. It has established new normals for life and has completely transformed the market. B2b businesses compulsorily need to recognize the profile of the customer that fits your end-objective, classify them, and target them to cope up with these changes. The task is essential for all industries and has increased the demand for data appending significantly. Already more than 65% of the companies are found to see an increase in MLQs by improving their profiling and segmentation practices, and the figure is supposed to go higher with the present developments.
◊ Data scrubbing is inevitable
Data appending is not only appending the data of new prospective customers. Identifying outdated and incorrect information is an integral part of the process. In the present scenario, when every small and big business is trying to survive with online or remote operations, the online customers’ databases are also flooded with information. When you are scraping the data and loading it in your local files, it is highly possible to download the data that is either not accurate or not useful for you. In either case, data appending is a must to scrub the data and create suppression lists. It will help you to focus on valuable customer data and avoid wasting your resources and time on unproductive ones.
◊ Lightweight strategies are more likely to work
Data appending can seem a costly affair. However, it also offers a lightweight approach. These strategies were typically used by small and upcoming businesses to fuel their initial sales. With the help of advertising and low-cost models, you can achieve a solid customer base. While this is usually the case with small businesses, it is going to be useful for all businesses in the present time. Every business is losing its clientele and is struggling to meet the expenses. In such a situation, lightweight strategies of data scrubbing can remarkably boost your sale and boost your confidence.
In a nutshell, data appending for b2b business is not just cleaning and building contact lists but also a tool that can take your business to new heights. It includes strategies that can push you much ahead of your competitors. In the current time, when downwards is the only movement seam for every business, data appending can help you stay atop and rise swiftly once the conditions liberate.