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Why your SaaS company needs accurate contact data

February 22, 2021

Accurate contact data has been responsible for Cognism’s growth over the last five years in two ways. It’s both the product and the fuel for our high-flying sales and data driven marketing teams.

It’s the reason Cognism was able to achieve 57.41% growth in 2020, and reach a significant landmark in 2021: generating $1 million in revenue in one month - for the first time since our inception in 2015.

As Cognism’s data gets better, revenue follows suit.

We spoke to some B2B sales, marketing legal experts, to provide the reasons why your company needs access to accurate contact data.

There are also some insights from Cognism CEO, James Isilay. Scroll down to see the rest! 👇

5 reasons why your company needs accurate contact data

1 - Better forecasting

If you’ve ever bought B2B email lists, you’re probably pretty familiar with stale data.

The truth is, buying a lead list is a massive roll of the dice. You might be buying brand new B2B data with an excellent deliverability rate.

Or you might be buying a 10 year old email list, which has been sold to every Tom, Dick and Harry in the country.

What does this mean for your growth?

It’s basically like turning the news on in 2020 - it’s totally unpredictable.

If you’ve got access to a reliable data source, it’s more like watching the news in 2019 - remember when the big news story was a new photograph of a black hole? Dear, sweet, predictable 2019.

If you’ve been using reliable contact data for a few months, you’ll be able to predict your revenue with much more accuracy. You already know roughly how well your team will perform. You’ll also have an idea of the number of conversations they’ll have.

James Isilay is able to set realistic targets by understanding a few key factors:

“If you know the number of sales reps you have, the number of conversations they’re having each day, and the conversion rate, you’ll be able to set realistic goals for your team.”

“This can be broken down into smaller goals, like how many calls should each rep be making each day?”

“You can also work backwards and say, if we want to reach X revenue this year, how many sales reps do we need?”

“This all comes from having reliable and consistent contact data to start with. It gives you a known factor to calculate your revenue with much more predictability.” - James Isilay, Cognism

2 - Motivated revenue team

What’s the only way to motivate your revenue team?

Trick question.

There’s no ‘one’ way to motivate your team. Just offering incentives is a great way to motivate a dog, but people are a little more complex.

It’s a combination of lots of things. Incentives, development opportunities, promotions, software provision, management, and more.

However, one very reliable way to increase the productivity and motivation of your team, is to provide them with accurate data.

Let’s imagine your B2B marketing and sales teams are burning the candle at both ends to generate revenue.

Your top-performing sales rep has just had his call forwarded to the 15th decision-maker in an enormous deal, and the marketing team has just released an eBook longer than War and Peace.

At this point, you walk in, lead list in hand. And…it sucks.

It’s full of out of date leads and totally irrelevant companies.

The sales team makes a few cold calls.

This number does not exist. This number does not exist. David doesn’t work here anymore.

Just like that, the team’s motivation is dead in the water. This might be a feeling you’ve experienced.

It doesn’t have to be!

Giving laser-accurate leads to your sales team will motivate them to perform. Their work will become so much more rewarding and enjoyable.

We spoke to Cognism’s Inside Sales Director, David Bentham, about motivating his SaaS sales team.

“If there’s something the team needs that could improve their job, we’ll provide them with it. This means investing in the best CRM on the planet, creating our own CRM extension app, providing the best outreaching tools, and providing the best B2B data.” - David Bentham, Cognism

In David’s eyes, it’s simple. The job of the Sales Director is to provide everything his sales team needs, so they can thrive in the environment you’ve created. This includes accurate contact data.

3 - Accurate marketing

With a more accurate B2B data list, the marketer will be able to make more predictions about the audience.

For example, they could know for certain that everyone on the list has particular job titles or interests, or uses specific technologies. This can all be referenced when building creative copy.

It allows the marketer to create ads that speak to the audience directly.

Cognism now has access to 25,000 technologies, meaning all marketers using Cognism Prospector can get seriously granular with their approaches.

Automated marketing is getting a lot more personalised.

4 - Lower cost per lead

This one goes out to all the performance marketers out there.

Every night, performance marketers tuck themselves into bed and dream of a lower cost per lead.

Accurate data can make their dreams a reality.

A high-quality lead list will impact CPL in 2 ways.

  1. The marketer will be able to target those leads more effectively. They can be plugged into Google Ads, and a higher proportion of them will see your ads than if you were using an inaccurate list.
  2. That list of leads can be used to build a more accurate lookalike audience. A good seed list (your original list of contacts), which fits your ICP like a glove, will result in better-generated lists moving forward.

The end result is a higher fraction of viewers believing in what they see, and getting in touch.

5 - GDPR compliance

In short, if your data is stale, you’re more likely to fall short of compliance regulations.

Here are the best practices, summed up by Vincent Delamarre, Chief Growth Officer & Co-Founder at Odaseva.

“Consent to data expires after a certain amount of time. This is known as the ‘personal data lifecycle’. There are two best practices for companies to follow:

1. Understand your personal data lifecycle. The guideline is that data should not be held any longer than required. If you are no longer interested in communicating with a person, they should be removed from your data asset.

2. Have an automated system to remove these contacts. This is an easy way to ensure that you’re not holding on to non-compliant data.” - Vincent Delamarre, Odavesa

Compliant, accurate data

Over 1,000 companies worldwide trust Cognism with their B2B prospecting needs.

Our unique, globally compliant database contains 400 million business profiles and over 10 million companies. Using our technology, you can generate thousands of potential leads and outreach to them with intelligent, multi-step sales cadences.

Are you keen to see what Cognism’s data can do for your company?

Click 👇  to book your free, 15-minute demo with us today!

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