Is it profitable to annualize prospect database tracking?

Let’s talk about Databases, BDD: the bête noire of companies! Is this the case for you? I suggest we approach the subject through 3 themes:

  • The purpose of the database, BDD, in marketing or physical prospecting
  • The value is it profitable of this data
  • The ROI on updating this database

The purpose of a Database , BDD, in prospecting whether for physical prospecting or marketing prospecting

 

Of course, the primary reason is to offer a prospecting tool to obtain new customers. The evidence speaks for itself! So, what allows us to obtain new customers? As its name suggests, a database, BDD, allows us to STORE data at a present time. From then on, this data will age and it will be necessary to ensure the management of this prospect database and its UPDATE. The information must be reliable over time. From this “exploitable” data, the company can then communicate and activate the purchasing levers with these prospects.

Our goal is to bring the prospect to the purchase and therefore to the position of potential customer then customer by going through the different stages of sales. The database, BDD, will allow to activate the levers to have a marketing strategy taking into account these stages of sales.

The value of this data

Our thinking is based on the fact accurate mobile phone number list that this data must be “reliable”, let’s add that it must be “timely”. How obvious, you might say?! Yes, but from words to action it is a long way. The whole subject is there: How to PRESERVE THE VALUE of the data? Let’s address the notion of storing this data. In less than 10 years we have experienced in the company the storage and updating of data on paper, then in spreadsheets, Excel or even Access or equivalents, and today, in CRM .

accurate mobile phone number list

Our topic of reflection is based on this essential point: who collates the data, updates it, enhances this data, takes care of storage and for what use? The Sales and Marketing Departments are the entry points for prospect data in general. They are also the users but do not have control over the management tool such as CRM . Between these 2 stages of collection and use comes the IT department in charge of setting up, managing and securing this famous CRM which stores this data.

Their interests and objectives are very different within one of the greatest assets a company the company. As much as the value of customer and prospect data is a priori obvious, their “USE VALUE” is a primary subject on which communication between departments is delicate.

Is the stored data sufficient, necessary, useful? Can we filter this data? … classify, sort, segment? … develop the data to be collated? Let us therefore add to our reflection that reliable and up-to-date data must also have meaning and a reason for being for the company. Its use value is primary and it also changes over time.

The ROI on updating this database

Let us recall that the Prospects database that we bfb directory imported or entered into our CRM is an internal and proprietary database . We have access to it subject to certain reservations ( GDPR ). How is it a source of profit?  Obtaining leads and data on the market is a primary subject for our sales and marketing departments.

So, in the company, marketing and communication strategies are thought out and implemented based on the objectives that the company has set for them. They generally change every year. The time data is therefore generally the year. Depending on the company’s overall strategy, a marketing strategy and a sales strategy are thought out for the year. For this marketing strategy, everything is built, modeled, timed, objectified… This is when the killer question arises: what database(s) can be used to deploy this marketing strategy and this sales strategy?

The prerequisite is to have reliable data to deploy this action. So, can we use the company’s internal database ? This is where the trouble begins.

CASE N°1 / If our BDD contains the data we need, Yes! This is where we need to know what is the usage value of the stored data.

  • Up to date?
  • Too old: how to update them and the cost?

CASE N°2 / If our BDD does not contain the data we need, damn!

  • an action with emailing but we don’t have the emails,
  • phoning but we don’t have direct lines,
  • targeting to certain functions but we do not have the names of the contacts,
  • a target of companies with more than 50 employees or people over 50 years old but we do not have the data to filter on the number of employees….

We are therefore looking for another external database to buy or rent to implement our marketing campaign.

The question will then arise:

  • How to add this new database to the existing one?
  • Enrich the accounts already in the company’s database ?
  • Create new data in a CRM input mask that does not provide for it

So thinking about the year for updating the prospect database makes sense and is not a cost but generates a return on investment:

  • Knowledge of its market and its evolution through the analysis of data and trends
  • Being able to deploy marketing and sales strategies quickly and effectively
  • Be able to ensure the evolution of CRM data collection masks without any hitches

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