How Bad Data Affects Revenue
Many business owners are not aware that bad data can affect their revenue. According to statistics from Experian Data Quality, an average company loses about 12% of its revenue because of bad data. Bad data can cause business organizations to pay heavy fines. For example, many companies have been fined for sending text messages to mobile numbers that were reassigned to a new user. Using a physician directory can help avoid these bad data pitfalls.
Get Accurate Data
Therefore, as a marketer, it is essential always to ensure that the data used for marketing campaigns are accurate. When selling to healthcare professionals, you can use a reliable physician directory to access the correct data you need. Another example of bad data is duplicate data, and duplicate data has the potential to impact your marketing ROI negatively. Here are some ways bad data can lower the efficiency of marketing campaigns, affecting your ROI.
- Additional Costs and Lesser ROI
- Bad Brand Reputation
- Missed Sales Opportunities
- Less Informed Decisions
Additional Costs and Lesser ROI
Duplicate data can cost an organization millions of dollars, reducing its ROI. If a healthcare organization has to pay $100 for every duplicate record, sending the same data to one lead five times will cost $500. Repeating this with about 2000 customers will cost the organization about $1 million. Incurring such unnecessary print costs will increase costs, lessen ROI, and negatively impact response rates. Working with a reliable national physician database in Canada will help you identify duplicate records in your database.
Bad Brand Reputation
Another effect of bad data is a bad brand reputation. When an organization neglects the health of its customer data, it will affect the business’ health. A good brand reputation translates into revenue, as it will make customers bring more business and referrals. Therefore, businesses must avoid using bad data. Healthcare businesses can access quality information from a reliable list of physicians in Ontario for their sales campaigns and brand building. The physician directory contains accurate information on all healthcare professionals and services in the area.
Missed Sales Opportunities
Many healthcare businesses have missed multiple sales opportunities due to duplicate records. It costs time and resources to contact prospects, but the time and resources are wasted if they contact the wrong prospect. The time spent could have been spent chasing the right leads. Thankfully, with the help of an accurate physician directory in British Columbia, healthcare businesses can invest accurately in the right leads.
Less Informed Decisions
Duplicate or inaccurate data will cause any organization to make wrong business forecasts, resulting in less informed decisions, ensuring the organization misses out on its targets. But with the help of a well-researched Manitoba physician directory, healthcare businesses in the area can make more informed decisions.
Conclusion
If you need accurate data for your marketing and sales strategy, MD Select is where you should be. We are a reliable online database providing quality information for your lead generation. With us, you can access different directories in different industries, including the physician directory in Calgary.
