Quality data in sales has always been important. Scott Leese and Richard Harris have been beating this drum for years now and they have co-authored this post specifically as it relates to data quality.
The day of reckoning is upon many organizations who have ignored data quality issues until 2020. Companies with bad data will simply not be able to keep up with their competitors as we navigate 2020 and 2021. If you still think you can win in the sales world without having a solid data provider, you may as well close your doors now. Or, I suppose you can leave them open, but your competitor will simply crush you. Yes, it’s that important.
Most organizations want Better, Faster, and Cheaper, and many claim they do all 3. But in reality they can only do 2 at best.
- They can be Better and Faster, but only if it’s Cheaper.
- They want Better and Cheaper, but that’s rarely Faster
- They want Cheaper and Faster, but that doesn’t not mean Better.
It’s enough to make you wish you could sit in your son’s Distance Learning 6th Grade Algebra class. Here’s the real answer. Solving the Better, Faster, Cheaper dilemma has never been more true than we have all experienced in 2020. Especially when it comes to data sources for Sales Teams.
This post is designed to give you some of the best practices, best in class features, and other top of mind priorities one should be looking for as it relates to purchasing a Data Provider, and let you do it better, faster, and cheaper.
This information is the information a salesperson can use to create relevance. Whether it’s during the initial outreach by an SDR/ BDR or by an AE or even Customer Success. This information is critical to securing a real connection that starts the trust building bridge. A platform you want should be able to provide: Executive Biographies, Recent Funding, IPO, Opening a New Location, Hiring Plans, Job Openings, New Executive Hire, Awards and More.
Comprehensive Data Set
This is the intel that shows you what’s behind the curtain at the company level, not just the individual. Locations, Industry, Employee Size, Revenue, Technology Used, Public/Private Company Search and more. Without accurate data here, your ICP searches will be skewed.
Accuracy and Re-Verification Schedule
An absolute MUST! With so many people changing roles right now or will be changing in 2021 and 2022 current data is mission critical. Vendors should be verifying information in both an automated AND human touch process. Be sure to ask! If your vendor is not verifying data every 3 months or less, then you need to find a different vendor, period.
Sales Engagement has been “in” for years now. When you can combine the data directly with an engagement platform, that’s what you need. If the data provider actually has an engagement element even better. One less platform for a rep to learn is a massive advantage
For the last 3 years, I’ve been speaking with customers who tell me they are actually using more than one data tool. In some cases, it’s two data providers. In others it’s a data provider and a data “cleansing” service. By all means you need to start with one, and that needs to be a strong provider of quality data, but it’s also ok to double dip.
This is another MUST HAVE feature these days for any tools your sales team is using. This circles right back to the top as it relates to Better, Faster, Cheaper.
Finally, if you are still the leader who thinks your SDR, Inside Sales Team or Field Sales Team should be doing this manually, I’ve got news for you. Unless you are paying them big money, they are going to leave as soon as possible. Oh, and if you’re a rep who is expected to do data research as part of your sales job, hit me and Scott up on LinkedIn, we know tons of companies looking for great sales people.