Over the past few years, more companies have realized that now is the time to pull the trigger on data quality solutions. In our research, 74% of organizations realize how important their data is and recognize its direct impact on financial gain. Now, we see a spike in investment in improved data quality through technology, resources, and strategy.
Better data means better leads—which, in turn, means more opportunities and revenue growth. With a direct impact on business growth, organizations are focused on continuing to scale data maturity.
In this article, we’ll talk about how investing in your data quality will produce more quality leads which would turn into more revenue.
Importance of data quality
During the pandemic, organizations had to rely on technology to respond adequality to the changes and demands of the market. From the increase in remote work to the security of their assets, several companies have seen the importance of accurate data—like how reliable contact data helps them reach and stay in touch with consumers.
This is what our research finds:
- 42% of organizations believe location data to be one of the most important types of contact data going into the next year.
- 89% of businesses say contact data has become more important than ever to reach their customers during the pandemic and now.
- 88% say that being data driven helps them stay on top of customer needs and market trends.
Brand loyalty is the key to success, making the customer experience a top priority. Since consumers are more digitally focused, companies must ensure they execute a seamless and consistent experience to retain customers and gain new ones
A positive ROI for businesses
Eight out of ten business leaders believe investing in data quality software has resulted in a high return on investment for business initiatives. Data quality tools can go beyond ROI—you may also see increased customer satisfaction. When high-quality leads are complete with the correct contact information, your employees have an easier time reaching prospects effectively and efficiently, leading to more deals closing.
The best tools for data quality assurance
Data quality is at the forefront of business leaders’ minds across all industries. Organizations are considering what data quality tools would be the best fit for their team and business goals. If you are focused on finding the right data quality solutions for your team, consider the following:
- Email validation
- Phone validation
- Address validation
- Data enrichment
Our latest research finds that organizations are looking to validate, append, and enrich their data with these data points over the next year.
- Email data
- Identity data
- Phone data
- Location data
- Social media data
Tools like our email, phone, and address validation work well for our customers who rely heavily on email campaigns and outbound phone initiatives to drive revenue. Removing duplicated, outdated, and unreachable customers from phone and email lists will help operational efficiency and improve outreach efforts for both sales and marketing.
Our data enrichment tools help organizations understand their consumer traits like age, income, and marital status for a more targeted marketing effort in lead generation. Cleaning up current data is just as important as obtaining new data. Reaching your customers through all channels at any time with effective messaging is the goal.
Ready to invest in better quality data?
Data quality can impact business growth—and to create a foundation of high-quality insights, businesses need the right tools. The upside of investing in better data will directly impact lead generation and operational productivity. Contributing time, money, and energy in your data management program today will result in a higher return on your business initiatives.
