Regularly applying a Prospect Database Assessment provides ease in assessing and scoring your prospect database effectiveness. In our last blog, What’s Wrong With My Prospect List?, we discussed three obvious signs that prove that you are targeting the wrong prospects. Knowing your prospect database inside-out will enable you to reach the right prospects.
Prospect Database Assessment
There is a direct connection between the quality of your marketing database and the results you will attain from your lead generation campaigns. Data age quickly, unless continually maintained. As per Marketing Sherpa, B2B prospect databases lose precision at a startling rate of 3% every month. This is an annualized rate of 22.5%.
Prospect Database Quality
How would you rate the quality of your prospect database?
Good – Score 10 points if you are sure about your marketing database quality
Ok – Award yourself 5 points if you are quite confident about the quality of your database but still feel there is some scope for improvement
Bad – 0 points if you think your prospect database is dirty
Prospect Database Centralization
Do you currently have a centralized marketing database shared between different departments of your organization?
Yes – Score yourself 5 points if you have a centralized database
No – 0 points if your team still is working on multiple excel sheets and assorted databases
Regular Database Cleansing
Do you regularly cleanse your prospect database?
Yes – Add yourself 10 points if your team regularly monitors data quality and scrubs outdated information
No – 0 points if your database has not been updated in very long time
Customer Profiling
Do you collect multi-channel data (website visits, email campaign clicks, landing page form information, calling data, survey data, etc.) to build customer profiles?
Yes – Score 10 points if you supplement prospect data with information from two or more marketing channels
Somewhat – Award yourself 5 points if you supplement prospect data with information from any one of the marketing channels
Bad – 0 points if you have not been collecting multi-channel activity information
Third party database verification/supplementation
Are you using third-party prospect database verification tools or data sources to enhance database quality?
Yes – Add yourself 5 points if your prospect list development team uses any third party data sources or verification/authentication tools
No – 0 points if you are not using any such third party tools
Scoring:
0-20 Points: Your database needs a lot of attention. It is probably outdated and may have lot of duplicates and erroneous data. This could be the reason why your marketing team has been complaining about low marketing campaign conversions.
20-30 Points: Your marketing database is decent, but needs help. Do make efforts to improve data quality before it gets out of hand. Third party prospect email list verification and validation can significantly help.
30-40 Points: The score indicates that your marketing database is in good shape.
Download Whitepaper
Recent Blogs
-
All You Need to Know About an Integrated Customer Support Services Strategy
Customer demands are evolving rapidly. Businesses need new technologies and better strategies to keep pace with them. Emerging technologies like AI help automate customer support and make it super-efficient, enabling business to offer better customer experiences (CX). The market is highly competitive, and companies must adapt quickly to changing trends and deliver fantastic customer experiences.
May 16, 2023 -
All You Need to Know About Appointment Setting Services
What is appointment setting? Appointment Setting is integral to the business development process for every company. It connects the business with its clients by scheduling meetings between the sales personnel and prospects to convert them into customers. Appointment setting lead generation involves creating a prospect list and verified databases, starting a dialog with prospects,
May 9, 2023 -
What is Lead Scoring in Lead Generation?
Lead generation is a process that involves various steps. Lead scoring is one of the approaches B2B marketers use to generate leads. It is an inherent part of the lead generation process and helps businesses increase conversions. Enterprises are adopting the lead-scoring strategy to make their lead-generation process more efficient and result-oriented. According to Marketing Sherpa,
May 4, 2023 -
Account-Based Marketing Tactics, Examples & Strategy
Account-Based Marketing Tactics, Examples & Strategy Account-based marketing (ABM) is a popular marketing strategy in which a business focuses on a set of target accounts within a particular market. ABM helps companies to adopt a laser-targeted approach and unify the marketing and sales processes. Businesses can make more profits by targeting high-value clients and
April 24, 2023 -
Top Benefits of Email Marketing
Email Marketing helps to engage prospects and convert leads into customers. It’s a popular form of digital marketing that enables businesses promote products and services to their target audience. It helps in lead generation, creates brand awareness, and increases sales. According to Statista 2021, email marketing’s revenue is estimated to reach approximately 11 billion by the
April 19, 2023
How can we help you?
We love questions and feedback – and we’re always happy to help! Please click below to contact us.