Thanks to technology, marketing has become less of an art and more of a science. Instead of relying on their gut or intuition, modern marketers use digital platforms and tools to track how audiences are engaging with their marketing content.
But what if your data is bad?
Not all data is created equal
Some platforms may be a treasure trove of vital insights, but only if the party collecting the data knows what to look for. This poses a problem for many marketers. Some marketing agencies don’t collect data themselves but rely on third parties. Others may have in-house data collection teams, but these teams might not have the necessary expertise to correctly identify relevant data from irrelevant data.
For example, Deloitte assessed data that had been gathered from a leading consumer data broker. They made a worrying discovery during this study:
"The data for nearly half of the variables examined was only 50 percent or less likely to be accurate — equivalent to the accuracy obtained by tossing a coin."
This has consequences for your business.
How bad data affects your organisation
Bad marketing data doesn’t only affect your marketing team. It has a knock-on effect throughout your entire business. For example, even if you recognise there are problems with your data, your team is going to have to spend extra time verifying which data is useful and which data is not. This not only adds an extra step to your process which could allow more errors to creep in, but it can also have a knock-on impact on processes further down the line.
Poor data can also affect your marketing strategy. In the best-case scenario, this might result in your strategy simply being less effective. In the worst-case scenario, inaccurate information might result in your marketing strategy becoming completely ineffective.
Another less obvious, but perhaps more damaging, effect of bad data is how it affects the way people view your brand. If your marketing consistently fails to address the needs and wants of your existing and potential customers, this will gradually erode their trust.
However you look at it, bad data leads to wasted resources, which results in a loss of revenue.
How to ensure your data is optimised
If you’re looking to avoid these challenges, you need to make sure your data is accurate. In our ebook, How To Boost Your Marketing With Optimised Data, we unpack why you need to verify your data, and the steps you should take to make sure your data is correct. You can download our ebook here.
If you’re looking for a B2B agency that specialises in telemarketing services, GCL has over 30 years of experience in unscripted and multilingual services. We offer customised solutions that are flexible and scalable across EMEA, the Americas and emerging markets. To find out more about how we can help you, contact us today.
