Marketers use their contact lists to identify leads and foster sales opportunities, but these can often become cluttered with expired or unnecessary information, explains Business 2 Community. When companies launch marketing campaigns with poor data quality, they could be losing out on valuable sales opportunities and simply absorbing the costs of failed efforts.
This is why 78 percent of marketers told the source they perform a data cleanse at least three times every year. Going through the database to eliminate information that isn't needed, verifying data in the system and regularly using lists can keep them from falling into disrepair and help companies avoid costly or embarrassing mistakes.
"It costs 10 times as much to complete a unit of simple work when the data are flawed in any way as it does when they're perfect," quotes the Harvard Business Review.
One such example is a billing mistake, the source points out. After receiving a customer complaint about incorrect invoices, the company must allocate time and effort to rooting out the problem, fixing it and making things right with the client. Performing this simple function correctly the first time around saves the business valuable resources.