What do a navigation device and your CRM have in common?
Both systems make use of information in order to enable specific destination guidance, taking into account desired criteria. With a navigation device, places or routes are navigated to, which are determined with the help of positioning and geo-information. Your CRM, on the other hand, serves continuous customer relationship management and uses company-related data, contact information, transaction data, etc. for this purpose. Commonalities exist in both cases not only in the consideration of information for the achievement of goals, but also in the effects of outdated and incorrect data. This is where the B2B data audit comes in.
The route is recalculated...
Anyone who has ever used an outdated navigation system in a car knows the confidence problems: The route is illogical or interrupted because the map material is no longer up-to-date. Detours are pre-programmed and cost time, money and nerves. If a lot of time has passed since the last map update, the probability of driving on roads and routes that the navigation device does not know increases.
You should also critically question the reliability of your B2B database used by the CRM, because reasons for discrepancies can be traced back to various circumstances. One common cause, for example, is related to the incorrect entry of customer data. When employees in customer service or sales make an initial contact in the CRM, careless mistakes, comprehension problems and time pressure often lead to incorrect entries. However, incorrect entries can also be caused by the customers themselves, for example when they register independently on the company homepage.
On the other hand, even correctly recorded data can lose its validity, because facts change and in Germany up to 1 million times a year. These include changes in legal form, relocations of registered offices, name changes or mergers. However, changes also include new entries in the commercial register due to the establishment of new companies or changes in management. Your B2B database is also affected by all these changes - day by day. The B2B data audit shows you the strengths and weaknesses of your B2B database.
Correct data sets the direction - focus on sales
Why a wrong route leads to problems is obvious. Not every company is aware of why incorrect data in a customer database causes problems. Yet customer data is an important basis for decision-making in corporate activities, especially in marketing and sales. The better the address base, the more targeted the sales department can be. The quality of the available information influences the effort required for research and establishing contacts and generally has an influence on the effective and economical use of sales capacities.
In order to classify new contacts and potential customers and to evaluate their potential, relevant detailed information is necessary. A potential analysis, for example, enables the division into comparable sales areas. Interlocking information on ownership and shareholdings, on the other hand, offers Sales further sales opportunities, e.g. to achieve framework agreements with groups of companies. With such information, entire groups of companies can be won with a single action. The absence of duplicates also has a positive effect, because duplicate-free databases ensure that Sales only serves solvent contacts and not customers who are already unable or unwilling to pay by mistake.
How can you provide your sales department and other departments with a solid data base provide?
Next exit: B2B data audit
So that you know to what extent action is required, we recommend a Strengths and weaknesses analysis of your database. In a standardised, automated check, we control the quality and structure of your B2B addresses. Necessary corrections can be derived from this information. You receive a binding overview of the possible options with regard to cleansing, enrichment and the purchase of new potential. The hit rate statistics provided offer you complete calculation security, as you know the effort and costs of possible downstream measures with the expected number of hits.
You have reached your goal
With a valid picture of your contact data, you have a planning tool that helps you avoid risks by knowing the strengths and weaknesses of your B2B database. You have the opportunity for more performance from your business units, as you can use Data Quality measures intervene where necessary. Furthermore, with the help of the new potential analysis, you will find out what additional address data is available and how you can tap into cross-selling potential in a target group-specific way.
beDirect's B2B Data Audit provides you with an affordable and effective tool for customer data analysis and, combined with Data Quality measures, ensures an all-time good ride!
Also interesting for you: Recommendations for handling B2B data.
Webinar tip: Secure the quality standard of your customer database permanently.
Smart address maintenance
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