Data Has An Expiration Date
Individuals often change their address, phone number, job, job title, and more. Ensure your database is up-to-date.
Is Your Data Obsolete?
If your company manages it’s consumer data with a CRM or another type of database on a regular basis; your database is likely an important component to your business’s success. Yet once this data has been collected, it is extremely important to realize the contacts in your database can change quite rapidly, thus become partially or fully obsolete.
Individuals often change their names, their addresses, their phone numbers, their emails, and more. Professionals often change jobs, change titles and so forth. These changes lead to an outdated customer database over time.
Additionally, as the digital world continues to advance and grow, so too does the data collected by each device. With each cell phone, computer, or other electronic device switched on and/or updated, data is constantly being added, changed, or stored on the Internet.
Obsolete data can have a major impact on your company’s daily operations; and is a concern which should be taken into account. It can have a huge impact on all areas of your business, including: business development; marketing; sales; and more. Probably the most significant impact is with billing. “When your addresses aren’t correct, billing becomes 5x more expensive.” (CredSimple)
“If your business deals in B2B, there is a greater chance that a large portion of your data is compromised because corporate turnover rates can reach up to 40% each year and with it, emails and phone numbers change.” (The Importance of Keeping Your Data Up-To-Date)
So, how can you keep your company alleviate this database problem? How can your business keep your database data current?
To help your company clean its data, below are some subsequent tips to keep your database healthy.
Along with maintaining an informed relationship with your database contacts, it is highly important to keep your physical database clean and in excellent condition. (Copernica)
These next several steps can successfully assist with that process:
- Keep your data on one program or in one file.
- Keep an overview of your database.
- Add new data immediately.
- Monitor database results.
- Let contact update their own data.
- Enrich your database.
- Work with double opt-ins.
It does take daily work for any business or company to keep the data in its database fresh and up-to-date. However, it is a highly important task that needs to be followed through on a routine basis to maintain business success and avoid losing relationships with your customers.
“You wouldn’t be okay with your investment portfolio losing 25% annually. And you shouldn’t stand for losing a quarter of your data annually. Your data is an investment. Guard it accordingly.” (CredSimple)
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