14th Jul, 2022
, , Designation
- Organisations leverage HR database to improve market research and enhance lead generationlead generation
- However, they should evaluate the database critically and engage in discussions with the vendor for striking the right deal
Companies selling HRMS software or employee monitoring software require HR database for sales prospecting. However, finding the right HR database at the right time can be a big struggle. The data gets outdated when HR professionals change roles or their contact information. It is quintessential to check the accuracy of the HR data before making a purchase decision.
Checklist to Follow Before Buying an HR Database
Enterprises investing in HR database should seriously consider its quality as poor data practices jeopardise the sales prospecting efforts. Gaps or errors in data, prevent sales and marketing teams from personalising the data for digital outreach and telesales and email marketing campaigns.
1. Understand the real causes behind poor data
Enterprises should coalesce around a checklist for ensuring that the data they are purchasing is accurately validated and maintained at all times. Enterprises should understand the sources of poor data and arrest them at the start before they snowball into bigger problems. There are several factors that cause gaps in data:
- Missing Data: Missing fields
- Inaccurate data: Information that has not been entered correctly or maintained
- Inappropriate data: Data mentioned against the wrong fields
- Non-conforming data: B2B Data that hasn’t been normalized as per the specific marketing needs
- Duplicate data: Multiple copies and records
- Poor data entry: Misspells, typos, or formatting errors
These issues wreak havoc on the entire revenue enablement cycles in an organisation. The ramifications of poor data are business reducing. It leads to higher consumption of resources, higher maintenance costs, lower customer satisfaction & retention, increased churn rate, invalid reports, lower productivity, loss in Revenue, higher spam counts and un-subscriptions, etc. Staying clear ahead of these challenges requires know-how and tact. Enterprises should figure out ways to eliminate these performance-sapping errors from the HR database with the vendor.
2. Evaluate the Capabilities of the Vendor providing HR database
It is important to evaluate the capabilities of the vendor to build the HR database. Modern-day database vendors leverage a cohesive mix of digital automated technologies and manual methods to build the database. In this process, they use a combination of AI & ML-led technologies to source data and human validation methods to ensure that it is conforming with the outreach needs. Also, they continuously monitor the data to ensure that it is accurate and complete for sales and marketing purposes. Here are some relevant services that come as a part of their service:
- Database Cleansing: This includes data standardisation (correction of formats), Deduplication,
- Depth Profiling: Enrichment of data or also tele-survey (SPL) of technographics/ firmographics.
- Database Maintenance: Regular update of database to prevent decay and ensure a continuous refresh of data
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3. Check the Attributes of the Data
The marketing needs might vary from company to company. Standard attribute tags make it very difficult to search data at the right time. Therefore, the database should provide access to wide range of elements like designation, business address, geography, contact numbers, industry, sub-industry, etc., to simplify the path to reach HR professionals. It should mandatorily cover Direct Dial information and Business Messaging IDs, other than Work Emails. This can help teams in personalising the marketing campaigns as per the distinct profiles of HR profiles.
4. Evaluate the Volume and Accuracy of Data:
Both volume and accuracy of data are needed to fuel the sale pipeline with relevant leads. Prospecting becomes extremely challenging without the right volume and accuracy of data. However, over 30% of the data decays as buyers change role or designation. Therefore, it is very important to ensure that the database vendor is employing best practices to ensure a continuous refresh of validated accounts of the target market as per the ICP and RPC requirements.
Organizations buy database of HR professionals with the goal of getting more insights about the HR professionals. However, all insights are not absolute. Several data quality problems cause skewed, or otherwise undesirable outcomes. Poor data quality ruins value. Therefore, organisations should engage in more meaningful discussions with the vendor before striking a deal.
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