A B2B sales team is only as good as the data it uses.
Bad sales data is incredibly harmful to a business - it leads to mistargeted prospects, lost deals and lost revenue.
In this blog, we're going to explain:
- How salespeople can easily recognise bad data.
- The importance of high-quality data in sales.
- How to improve the data your team is using.
Keep scrolling 👇 for our insights.
How to spot bad sales data
There are several warning signs that tell you the data you're using isn't fit for purpose:
Deviations from historical trends
A key sign of bad data is if it deviates from previous trends.
For example, if your closed-lost deals decrease or increase without any clear explanation, that means your B2B data may not be reliable.
Inconsistencies and errors
This could include missing data, duplicate entries, or data that doesn't make sense.
A red flag might be if you see two different sales figures for the same product or time period.
Outliers
Outliers are data points that differ significantly from your other data points. While outliers can be valid, they can also indicate errors in the data.
If you see a significant number of outliers in your sales data (e.g. things you weren't expecting), that's a signal for you to investigate. Bad data may be to blame.
Why you need good sales data
Data is a core component of business, and a business in itself. Quality data is one of the most important contributors to the success of a company, from prospecting to lead generation.
Essentially, data is actionable knowledge, gathered from a variety of sources. Sales leaders use it to power their sales strategy. It empowers them to make decisions that will positively impact the success of a company, improve its practices, and increase revenue.
This data sits in your CRM system and is a vital asset for your sales team.
With prospect and customer data doubling every 12 to 18 months, having poor quality data is sure to hinder your outbound sales process and waste a lot of time.
It causes operational inefficiencies, unnecessary costs, and impacts your customer satisfaction - all of which will cost you dearly.
That's why it's vital for your team to have good sales data so they can achieve operational excellence.
How bad data harms sales
Much like sending a construction worker to a site without his tools, sending your SaaS sales team out without the correct data isn't going to help them get the job done.
The consequences of using bad sales data are far-reaching. It impacts employee productivity and your company’s reputation. It has a crippling effect on revenue and business growth.
According to Integrate, an average of 40% of B2B generated leads are invalid, incomplete, or duplicates.
We think that’s an epic stat. And that’s not all.
Here are some other ways that working with bad data harms sales 👇
It wastes time
In B2B sales, and throughout your entire organisation, your reps are the most reliant on your CRM sales data.
Some more stats:
- Experian found that 94% of businesses suspect that the data they have on their customers is inaccurate.
- According to ZoomInfo, chasing bad data wastes over 27.3% of a B2B salesperson’s time.
It generates bad leads
Bad sales data is unusable for SDRs. They can't call prospects if the phone numbers aren't right in the first place!
The wrong data in a contact field prevents reps from following up with leads. It also prevents searches from being populated with quality leads.
It results in undelivered mail
It isn't just the phone that's important!
Your sales team is heavily reliant on email addresses to engage with leads, start the sales cycle, and close deals.
All their efforts go to waste if their emails aren't delivered to the right inboxes.
It leads to missed opportunities
In the above examples, key engagement points are missing. This means that your salespeople won't be able to communicate with leads effectively.
When that happens, your reps can't nurture and convert new business. You'll see reduced demand for your products/services and lost revenue.
You can see how damaging bad sales data can be!
Now, let's see what you can do to fix it.
Keep reading 👇
How to improve bad sales data
So, how do you, as a sales leader, make sure your data’s not inaccurate, incomplete, or inconsistent?
Firstly, it’s important to understand that bad sales data needs to be addressed at all levels where that data is used - technology, governance, and at a people level.
Here are five ways to address these issues 👇
1. Make data quality part of your onboarding and training processes
Inform your current sales team, and any new recruits, of the importance of quality data.
Stress this to them - the data they use must be both correct and compliant.
2. Give ownership of your sales data to your team
Emphasise that gathering quality data is not the responsibility of your IT team. The onus is on your sales team to generate good contact data.
3. Audit your data frequently
Identify gaps and eliminate bad data where you can. Rotate who audits the data so that fresh eyes are looking every time.
4. Add data quality to your team meeting agendas
Get the auditors to report on their findings in your weekly sales meetings.
5. Work with a reputable data provider
Partnering with a trusted company, like Cognism, gives you access to quality data and cuts down the work for your team.
If you're investigating partners right now, watch this video to help you choose 👇
How Cognism's data helps sales teams
Cognism is the world's best B2B data provider. Our data has helped nearly 2k sales teams to engage with decision-makers and close more deals - all while making fewer calls!
But don't take our word for it - let's hear from some of them 👇
Ultima
George Mckenna, Head of Cloud Sales at Ultima, had to grow a sales team from 0 to 30 - fast! He chose Cognism as the tool to help him achieve this.
For George, the choice was easy:
“I’ve worked in sales for 15 years and I know that all the other providers are not as good.”
Once Cognism was implemented, George saw ROI in just eight weeks, along with improved team morale:
“It’s all about calling prospects in sales but 90% of the time you get through to gatekeepers. Cognism removes that barrier as there are no gatekeepers anymore.”
“For a sales team to know that when they dial a number, they are going to get through to someone is a huge motivator. It’s probably the biggest one you could have.”
“Cognism has enabled our team to do what they do best - talk to people.”
Read our Ultima case study.
ComplyAdvantage
Jonny Fianu, Global Head of Revenue Operations at ComplyAdvantage, spoke to us about the data challenges his sales team faced:
“Purchasing Cognism was tied to improving the data that supported our account-based marketing efforts. Our objective was to increase the breadth and depth of accounts and contacts.”
Jonny and his colleagues were impressed by Cognism's data:
“When investigating Cognism and testing its data, we found it to be very strong on coverage and telephone numbers in our core markets.”
“So we made the decision to bring Cognism in and double down on it.”
And as for results?
“We saw the results immediately! After adding Cognism to our system we saw the impact of it right away. It was beating all the benchmarks.”
“Overall, our sales team books at least 10% of new business meetings with Cognism.”
Read our ComplyAdvantage case study.
Cognism: your partner for better sales data
You don't have to suffer with bad sales data. Cognism's got you covered.
Our goal is simple: to provide you with the correct B2B emails and mobile numbers of people you want to do business with.
To start your partnership with us, speak to one of our consultants today 👇
