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 Smart questions: A database is an organized record of customers or prospects, gouped into various identifiable criteria. According to iMarket Inc., "Find out what characteristics (like industries, sizes, and locations) customers have in common. Then use this information to find prospects that look just like them." Otherwise, you could be wasting too much of your marketing and sales efforts on these activities:
• Mailing to prospects who will never respond
• Calling leads who will never spend a dollar with you
• Assuming you know exactly who your best customers are (when you really don't!)
The Data Warehousing Institute reports that poor data quality costs U.S. businesses an estimated $600 billion in hard costs and lost revenue opportunities. In fact, the US Postal Service estimates that business lists become outdated at the rate of 1% per week! To learn more about "data churn" and the impact this has upon your business development efforts, download the FREE booklet, Turning Your Data Into Revenue, from Dun & Bradstreet. |
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