Your return on having an updated database
I always tell (existing and prospective) clients that updating their existing database or building a new database by a dedicated resource, must be seen as an investment that will pay itself off, when the updated database is used for either marketing or (tele)sales activities.
I don’t say that because we offer Database Building and Cleansing services, and I’m just trying to sell our services, but I say this, because I know how important and how valuable an up to date and qualified database is for a marketing or sales campaign.
Last year (2018), with Spex Asia, about 1/3 of all the outsourced sales campaigns that we worked on for our clients, had a dedicated Lead Gen resource in support of the sales campaign. The Lead Gen resource would research and build a new database from scratch (based on parameters given by the client) or they would cleans and update an existing (but outdated and incomplete) database from the client. This is a very manual task that involves online research, reviewing websites and calling companies to verify and check the details we need (including permission to reach out to those contacts).
That left us with about 2/3 of all our campaigns with No dedicated Lead Gen resource to support the sales campaigns, and the agents had to work with whatever data was provided by client.
If we then compare the results of the campaigns that we worked on in 2018, in terms of:
- Revenue brought in by our agents
- Number of tickets sold
We see that, on average, those campaigns With Lead Gen, outperformed the campaigns Without Lead Gen by more than double (!) in overall average revenue as well as in terms of average number of tickets sold!
So that means that, on average, those campaigns that had a dedicated Lead Gen resource to help research and update a database, achieved more than twice as much revenue (and tickets sold), compared to those campaigns that did not have a dedicated Lead Gen resource!
There are other factors that will affect the success of a sales campaign as well, but we can see a clear correlation between an updated, qualified database and sales results.
I’m happy that we’re able to back up with statistics of our own, what we’ve been preaching regarding the importance of a good, up to date and valid database. We will continue to review and analyse results to advise our clients on how to maximize the campaign that we are involved with.
Happy selling and wishing everyone a prosperous Year of the Pig!
Daniel Malkiewicz – Director Spex Asia