Do you remember that kid in school who would always do their homework on time and regularly finished their project weeks before the hand-in date? Maybe it was you?
But ever notice how they consistently achieved high marks? It was preparation.
Preparing well can be highly advantageous in most walks of life. The school kid was consistent because they always built foundations for success using high-quality data. They knew that doing their homework would not only help them remember the facts, but would also provide them with reliable data when it came to finalising their project and for revision. In stark contrast, data collected in a last-minute rush is likely to be holey and won’t be as accurate or reliable.
Like the kid in science class, these principles also apply to marketing data – there is a direct correlation between data quality and lead generation figures.
Basics of B2B lead generation misunderstood
Marketers require high-quality data lists in order to create consistently successful campaigns. Obtaining this data though, isn’t all that easy. In fact, according to Ascend2’s recent Lead Generation Strategy Report, 35% of marketers think a lack of quality data is the most challenging obstacle to success.
It is surprising then that in the same report, improving data accuracy sits well down the list of marketers’ priorities for next year, especially considering the list is topped by increasing lead quality. Yet, the two are, of course, inextricably linked – poor data inevitably equates to low quality leads.
This disparity between the two objectives’ positions suggests most marketers aren’t aware of how important data accuracy is to their lead generation goals. They acknowledge the difficulty in collecting high-quality data. But worryingly, it shows they don’t understand the importance of doing so, which explains why most are content to use low-quality data lists.
European Data Protection Regulations
The biggest problem for marketers who don’t appreciate reliable data is yet to come. Think back to school again – do you remember the kid who rarely did their homework on time and took poor notes in class? Did they score below average in most exams?
Of course they did. They were relying on poor data when it came down to the business end of things. Then, when they arrived at college they’d find themselves playing catch-up with everyone else.
Now, we marketers are going to college (figuratively speaking). New European Data Protection Regulations are coming into effect at some time in the near future. While we don’t yet know the nitty-gritty details, we do know that people will have to opt themselves in to our data lists before we can contact them. There will of course be allowances for companies from similar industries to buy and sell data among themselves, but it’s going to severely limit the ability of companies to acquire lists that encompass compliance, quality, diversity and price.
Therefore, it’s important to plan ahead and aim for best practice now, such as organically growing your database using content with contact forms attached, then you won’t end up playing catch-up in the near future. To find out more about how high-quality data can help to improve your ROI and reach your lead generation targets then download our lead generation planning manual. It’s full of useful information about how to hit your lead generation targets through a variety of marketing channels.