There are lots of ways to get the leads your team needs to do their job.
But whether you're buying from a database, working with a list vendor, or searching through your CRM, a major risk you run is junk data.
Where does junk data come from?
Well, most data vendors have a fairly high standard for the data they take in initially, but that data typically sits in a database for months or years and is pulled out regularly when buyers come looking for leads.
When that happens, the leads that come out are not the same quality as those that went in.
Here are all the contributing factors:
This means that the leads in your database and from your data vendor are constantly churning.
2. Market changes impact some industries more heavily.
When sudden market shifts or global events take a toll on your buyers, your data gets thrown into upheaval.
The business impact of time wasted chasing down bad leads is significant.
Here's the math:
If your list of 1,000 leads is even 10% outdated, and you spend 5 minutes crafting an email to each bad lead, only to find out that it bounced, that's over 8 hours wasted. That's a full working day.
But it gets worse.
If your team spends time calling leads before emailing them, you may not find out that a lead is bad until they've been attempted multiple times. This just magnifies the waste.
So what's the difference with real-time data?
Real-time data means that you check every single lead right before working the lead.
The best path for this is to cover at least the following:
LinkedIn is full of self-reported data, which means it's likely the best place to start confirming things like job title.
If someone has left their company, you'd better believe the email address and phone number you have for them are no good. And if their company was recently acquired, their data is also thrown into question and worth verifying again.
When you check email addresses, most tools like NeverBounce will tell you if an email is definitely good, definitely bad, or unknown.
Double verification means that you send an actual email (versus just "pinging" the email) to test whether it is a deliverable address. (At LeadCar, we double verify any unknown addresses after pinging them first.) This produces significantly cleaner lead lists.
It's best to check data when you first acquire it and any time you plan to reuse old stored data for a new campaign of any sort.