Understanding the ever-changing dynamics of customer interaction is one of the major challenges facing marketers. 78% of marketers buy data from a third-party source without realizing that one-third of that prospect data is already obsolete.
Companies that invest in bad data while trusting their existing prospect data strategy are putting their ROI at risk.
What do you need to be successful?
With sales growth being the major objective, many sales organizations focus on building a growth strategy while at the same time failing to provide their sales teams with the specific training tools, or resources they need to be successful.
By the time they realize their strategy may not be an effective one, they’ve already wasted valuable time and money.
Inside sales teams can spend up to 60% of their time researching and validating their prospects before making their sales calls, and the first call to establish a relationship is critical – 57% of Americans switch businesses after one bad sales call experience. Every salesperson needs to be properly trained before making an effective sales call, and companies on average spend 125 days and $12k-$17k to hire new, train and deploy new resources.
Many sales organizations struggle with managing insights and an average company could spend many months and tens of thousands of dollars developing tracking tools for their sales teams, still only to find they’re not getting the ROI they expect.
The point is, sales organizations need an effective strategy, training, tools, and clean, verified prospect data in order to be successful and focusing on only one of these areas means a less productive sales force and an ROI that doesn’t live up to expectations.
What are the stumbling blocks?
An expensive problem 63% of sales organizations face is due to ineffective onboarding practices, and when these companies fail, they fail hard. The primary reason? A lack of a clear strategy and vision towards prospect management.
88% of the data a company purchases from a third-party vendor is not up-to-date leaving the company facing a difficult road ahead – relying on this bad data puts your ROI at risk and the longer you wait to do anything about it the worse it gets.
Industry professionals understand the need for the right technology for data analytics for better prospect understanding and enablement. A CRM platform with the ability to constantly update and verify prospect data is critical to being able to produce conversions.
95% of B2B buyers prefer to do business with companies that showcase the ability to deliver an exceptional buying process. For example, B2B buyers are likely to take their business elsewhere if a company doesn’t personalize communications, and personalization can be done effectively only when the organization knows who its customers are.
Additionally, 80% of prospects require a follow-up sequence for conversion but only 56% of sales reps even bother with any sort of follow-up engagement leaving a lot of money on the table.
Data-Driven Marketing Makes a Difference.
According to a survey by Forbes, organizations that implement data-driven marketing have a distinct advantage over the competition, with an increased likelihood of being up to 6X more profitable every year.
Every business could benefit from a solution that verifies and updates data by integrating analytics across various channels gaining a holistic view of the customer via additional data points that enable follow-ups, and tracking updates to monitor every change happening in the CRM.
It’s imperative that businesses develop the tools or find a partner that can provide an inside sales team with development and marketing strategy powered by validated prospect data that is constantly updated to the CRM.
Having that data-driven focus makes sure that businesses connect with the right decision-maker every time a sales call is made.
Partner with an inside sales data enabler
Flobile can increase productivity and sales by 200% with technology automation and strategy built on solid, verified data.
Partnering with Flobile means getting the right prospects with tools like data scientists, call center personnel, and comprehensive data cleansing before any information enters the system.