Data plays a vital role in B2B as well as in the B2C industry business. Data has been crucial, especially in B2B, as it takes a lot to qualify the lead, reach the decision-maker. Quality data allows sales professionals to improve targeting, reach the right person, take a personalized approach, and successfully drive sales.
However, the ground reality slightly differs when it comes to data quality. While 88% of B2B marketers believe data quality is important to executing an ABM strategy, 27 percent of business leaders aren’t sure how much of their data is accurate. This leaves a sign of concern for B2B companies.
So, let’s dive in deep to find out the root cause of bad data. What are the types of bad data, and from where the bad data mostly get into your database? It can be human-errors, wrong interpretation of the fields, incomplete data, misleading entries, and duplicate data.
While the bad data is hurting the businesses on the revenue side, it can hurt entrepreneurs in different ways. Lack of data is hindering the data-driven strategies for the sales teams. A sales rep has to spend almost one-third of their daily working hours rectifying the bad data or chasing the wrong lead. As a result, it is hurting the productivity of the sales team.
Businesses need to assess the current data collection methods regularly to ensure there are no losses due to bad data. Businesses can perform a data audit to rectify the existing data to avoid further losses. Many B2B businesses are preferring to partner with reliable B2B data provider so that they can invest their productive time in selling.