Stop neglecting your marketing database

Author: Arun Pillai

Your marketing database is the most essential aspect of a perfect marketing kit – yet the most neglected one. The marketing database holds the reins of our marketing spends, pushes our marketing programs ahead, and makes way for a number of opportunities to build the organization’s revenue. Yet we spend very little time for it and a meager price to update it.

Research shows that over 50 percent of companies do not have a defined, systemized process to manage the marketing database. This means that less than half of the marketers are using a proper process of professional segmentation of database, data cleansing, data appending, and few other processes. What marketers are forgetting is that a powerful data management strategy ensures greater success for their sales and marketing organizations. However, it demands some time and effort. Still not convinced? Here are our reasons why you should pay more attention to your marketing database:

• Database has no expiry date – Your marketing database can grow to any extent. The best thing about it is that, the more you manage it, the better it gets. A report from Aberdeen’s 2014 Lead Management Study states that companies with proper data management strategies see a 25 percent growth of data contacts, year-over-year. On the contrary, only 11% growth is seen of a database with poor management practices.
• Better management means greater conversions – When you meticulously manage your database, you will end up generating better quality leads and reduce inaccurate and incomplete data. This will eventually set your sales team up for success as they will have access to good,  responsive contact information. Successful lead management is one of the most important ways marketing can assist a sales team. Remember, marketing qualified leads (MQLs) aren’t leads unless they are accurate and complete.
• Growth of Marketing Contribution – An updated database will lead to better conversions and higher revenue directly generated from your department. It only makes sense that marketing departments demonstrating higher ROI can make a better case for an increase in marketing budget.

Lake B2B is a pioneer in database services. Choose from a range of options like Data Segmentation, Data Appending, Data Licensing, Data Profiling, and more. Leave your message here and get a free consultation from our database experts immediately.