Create Accurate B2B and B2C Data
Data Intelligence is the improvement of data that is independent of your business specific data. When business specific data is considered in our Data Stack model this is called business intelligence.
B2B and B2C data have different properties, hence are treated differently.
Typically, B2B data has many components to it, for example Account details, Contact information, Products, Activities, Addresses, Phone Numbers, Emails, and so on. Where data intelligence can be provided is for the Accounts or Companies data. Reference data is also available for organisational hierarchies, out-of-business organisations and profile data such as turnover, employee count, site indicators etc. With contact information, there is no database that indicates who works where at what time. There may be vendors with their own lists, but there is no central database.
B2C has more reference data available and so more validation and verifications can be applied. Person information can be verified via several reference databases: the Electoral Register, data from leading suppliers, suppression, preference, demographic and propensity data.
Read More: The Data Stack – The Massive Impact of Data on Sales & Marketing
Measuring Data Quality ROI
Knowing how poor data affects your sales and marketing results is key to justifying expenditure on data quality initiatives. In this whitepaper we explore various examples of how to formulate data quality ROI calculations and build arguments that senior management can understand.
Read More: Measuring Data Quality ROI
Data and Customer Life-Time Value
If your customer spends on average £10,000 over their lifetime (i.e. the average time a customer stays with you) then every sales or marketing campaign that uses bad data may potentially lose the entire customer life-time value.
When you link the quality of your data to the customer life-time value, you can measurably see the immense impact that data has.
Read More: Data and Customer Life-Time Value