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.
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.
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The need for accurate data is at an all time high, which means that vetting the right data provider is of great importance, to ensure your business stays compliant with data regulations, and new data privacy laws like the CCPA.
In order to help our customers and potential customers understand how Lead411 has taken the appropriate steps to protect our customers, here are our answers to the top 6 must-ask questions to ask your contact data provider.
1. Where is your data sourced from?
Our data is sourced through a multi-faceted approach. Our data team uses a proprietary technology that searches public data, social resources and company websites. Our data team also verifies that our sources are correct through manual verification, automated verification, and real-time verification before it is added to the Lead411 platform.
2. How often is your data cleaned and re-verified?
We are constantly looking at our data to ensure it is as clean and accurate as possible. The verified data has a 90% accuracy rate. We make sure to clean and re-verify our data every 3 months. We know that companies hire new employees, employees retire or move on to new opportunities, etc, so we are constantly looking at our data to make sure we add or eliminate data from our platform as the ebb and flow of the corporate world does the same.
3. How often do you add new data?
We add data everyday! Whether its new direct dials, new email addresses, new company branch locations, new executive hires etc, we are constantly making improvements to our platform so can we add value that our customers can utilize daily. We also use proprietary research methods to get data that other data providers can’t, which helps us stay ahead of the competition.
4. Are you compliant with the California Consumer Protection Act (CCPA) and the General Data Protection Regulation (GDPR)? Is my company and personal data private as a customer? Do you scrape my email signature if I am a customer?
We are compliant with the CCPA and GDPR meaning we respect a contacts data and comply to remove their data at their request. We make sure we protect the data in our platform, and the privacy data of our customers. Our team makes sure to keep up with all the laws and regulations surrounding data privacy. We never scrape email signatures (like some of our competitors) which could be a liability risk and we never add customer data to our platform when they sign up as a customer, a free trial or demo. We use a third-party secure platform for payment and customer subscriptions information and that data is removed if the relationship with Lead411 is terminated.
5. Beyond just general contact data, how can I leverage your data to help my business further?
Lead411 is proud of the depth of our data. Our customers utilize our trigger intelligence to find opportunities to reach out with the right conversation. Our triggers include data about new hires, new executives, new IPO’s, new funding, recent company awards, expansion plans and more. We know each one of our customers has a unique data set, and we try to offer an all-encompassing and easy to use solution.
6. What makes you different from other data providers?
Beyond our data, and the in-depth data intelligence, we offer our customers the ability to reach out directly from our platform with our Reach feature. Reach gives our customers the ability to set up email and/or SMS campaign cadences, so there is no need to export to a third-party email client, and no need to upload data to the company CRM until a contact is a warm and qualified prospect.
Why are these questions so important?
The answer is time. We have prospects looking for data providers who go with a smaller, un-proven solution and end up coming back to Lead411 after they realize they should have asked the right questions to find the right provider. When you are looking for a provider, be sure you know what you are getting. There are a lot of solutions in the data space that sacrifice quality and privacy, so be sure to save time and ask these questions as you evaluate your next data provider.
If you would like to evaluate Lead411 as your next data provider, we would be happy to set up a demo with you.
In the data era, there are few companies that have encompassed a holistic approach toward customer needs for data accuracy, research, outreach, and integration. Our goal at Lead411 is to be the most comprehensive data platform on the planet and we have done so through listening to our enterprise customer needs, creating innovative solutions and ensuring our data is as accurate as possible. As we continue to evolve our solution, here are the features we are focused on specifically. This blog post serves as an informative resource for companies looking for an all inclusive and affordable solution.
Using the latest Lead411 API you are able to enrich and append our verified contact and company data to your own data set for enriching inbound leads or your current prospecting database with all of the data points below. https://api.lead411.com/docs/
Using Lead411’s chrome extension, data append feature and API you are able to quickly append and cleanse your data within Salesforce or your own home grown CRM. Take your current dataset of contacts/companies and clean them up with our fresh companies and contacts.
New advanced filters for Lead411’s List Building were added to the web application as well as the upgraded API. Here is a full list of all filters available;
Upon logging into the Lead411 web application you will see a dashboard of our datasets and what has happened in the past 24 hours or week including how many company updates, people updates, news events broken down by funding, mergers, acquisitions, new hires, hiring plans, employment changes, etc.
Our chrome extension and our web application has built in integrations with some of the best sales enablement, crm and sales automation saas. Our chrome extension allows you to pull Lead411 data while you are browsing social sites and company websites, as well as append/enrich your Salesforce leads directly with Lead411 data. Other saas we integrate with include Outreach.io, Salesloft, MS Dynamics, Zoho, Insightly, SugarCRM, Highrise, Pipedrive, Keap, vTiger, Capsule, Nutshell, PipelineDeals, Close.io, SalesforceIQ, ZenDesk, PersistIQ, Hubspot, Quickmail.io, AgileCRM, Less Annoying CRM, Oracle, PCRecruiter, Freshsales and Salesfusion.
Using Lead411 Intel you are able to gather Market insights using our competitive intelligence data, monitoring customer/account news events, and our TrackStar feature which gives you alerts on your accounts when someone at that account changes jobs. IN the screenshot you can see the red buttons mentioning Similar Companies(Competitors), branch locations, historical trends and job openings.
Reach – Automated Email/SMS Engagement:
Setup automated emails and/or SMS message campaigns, create custom templates, add contacts directly from the Lead411 platform from the advanced search or trigger results, track replies and opens, create tasks, follow up on social platforms, keep notes and more, all from our newest Lead411 feature inside of Lead411. No need to export to a third party email platform and no need to login to your existing CRM to track opportunities. You can set up Reach and save valuable time because your workflow is all within the Lead411 platform!
Time is always a key factor in sales. Whether it is reaching out when a company is going through a growth trend, responding in a timely fashion to an RFP, or reaching out to renew an existing contract; timing can mean the difference between revenue and missed opportunity. However, there is nothing worse than reaching out and getting “ghosted”. Never hearing back and having to deal with the anxiety of “do I reach out again?”, “am I bugging them?”, “did they get my message?”, “I was sent to voicemail again, did I lose the deal?” This uncertainty is nothing new to any seasoned sales person. One way to alleviate this anxiety is to reach out via multiple channels to find the best way your prospect or customer prefers to communicate.
So what outreach methods are the best communication channels to get in touch with your prospect or customer, and get that response in order to alleviate some of the uncertainty of the common sales process? One company, Text Us, is using text messaging to avoid the voice mailbox and cluttered email inbox to help customers reach out via mobile phone text message and they are having greater success with staggeringly higher response rates than traditional methods. In fact, According to their website, textus customers are seeing a 40% response rate to text messages. The data makes complete sense when you think about how often the average person checks their cell phone every day. According to a 2015 study by Deloitte, the average american checks their cell phone 46 times a day. That is an average of 3 times an hour (assuming 8 hours of sleep a night we all get…right). So why wouldn’t it make sense to reach out directly via text to take advantage of one of these attentive moments.
The data doesn’t stop with text messaging. In fact, there are still many benefits to reaching out via phone call or email. Let’s look at the benefit of picking up the phone and reaching out first.
The benefits of the phone call include:
Phone calls are still a great way to reach out because they are the closest thing to an in-person meeting, but they are still incredibly time consuming. If you know your audience and know that conveying trust is a major point of the business relationship (and you can’t get together for a face-face-to-face), phone calls are still a powerful communication channel.
Email is still a popular tool to reach out as well. Email can include an incredible amount of information that is consumable when the recipient is ready to read it. According to a Return Path study last year, analyzing 27 Billion emails sent by Americans between May 2016 and April 2017, 55% were opened via a mobile device.
The benefits of an email include:
Email is still a popular method to reach out because its a quick and easy way to send important documents, contracts, and additional information to advance the B2B relationship. There are downsides to email, including spam traps, and inbox overload, as the average American receives 121 emails a day (40 of which are B2B emails).
Email, phone calls and text messages are still viewed as 3 separate communication channels in the sales/marketing world, but email marketers and sales professionals alike need to make sure they are using each one effectively, as the majority of Americans continue to utilize their mobile cell phones more and more.
At Lead411, we are committed to this data and have been adding more and more mobile phone numbers and verified emails to our platform. As this trend continues, the need for accurate phone numbers and verified email addresses will be at the forefront of the B2B relationship for marketing and sales professionals alike, as they look for the most successful ways to improve communication and maintain revenue streams without worrying if the message was received or not.
As a recruiter in a large company, you already know the challenges in finding the perfect candidates to hire in each department. Perhaps you’ve gone through a lot of turnovers over the last few years simply because you didn’t do well enough in vetting the candidates you interviewed. If you’re still doing this, it’s time to start using intelligence data in your company. To find and fill positions, trigger data does more than just find information on potential employee leads. It can help you mine data when you need to receive funding or when releasing an IPO.
Using trigger data for contacts helps you weed out those you know aren’t the best candidates for hiring, or for any other partnership. Being able to gather this data automatically through a platform can save you days of having to find these prospects on your own.
What’s most important is finding a data platform that easily integrates with a CRM so you have easy ways to communicate with candidates. When you add trigger events to your data, you’ll find out whether a potential employee you’ve wanted to hire is available or not.
How many times have you had certain people in mind to fill a position, only to find out they already work for someone else? Real-time trigger data lets you know when these people become available so you can entice them to work for you.
Part of your job as a recruiter is perhaps finding companies or people who can provide funding for your business. Trigger data lets you know when companies or individuals have funds available at key times.
In a more competitive business world, you don’t want to miss out on receiving funding from a prospect only because you missed out on alerts.
To create lasting relationships and move ahead of competitors, you need detailed real-time data.
When you need to find individuals or companies to invest in your new IPO, trigger data works the same way. You’ll want this data to become as thorough as possible, including gathering everything from geographic segment reports to executive biographies.
All of this information and more can paint a more rounded picture about which prospects are worth your efforts and which ones become a waste of time to pursue.
At Lead411, we provide up-to-date trigger data platform that digs deep to help your recruiting staff find valuable connections that can last a lifetime.
Big data is this generation’s telephone. It changes everything about our lives, from the regulations we live with, to the charities we support, and even the products we buy. Particularly, big data has revolutionized the way companies think of potential customers. Instead of trying to pull them to the product, companies can put the product where consumers are. Information is the most powerful force in advertising.
If you’re looking for ways to build your customer pool and convert leads into sales, you need to look at what Big Data practices can do for you. Think about how these three strategies could fundamentally revolutionize the way you market and sell.
1) Meet your customers where they are
Your customers no longer need to rely on your company’s advertising to learn about your product. A quick search can put them in touch with all the reviews, comparisons, and information they could want to know. They don’t have to worry about whether or not advertisement is telling the truth. They’re confident in the results of their own research.
Powerful predictive tools can show what customers who are considering your product will look for. Using search algorithms, you can know where your customers are getting information from, and then be there to meet them in those spaces. You can bolster your credibility with potential customers while ensuring they get accurate, honest information about your products and services.
2) See changes in customer behavior as they happen
It’s a nightmare scenario for business owners to suddenly start losing clients. Tracking down the source of the problem is like finding a leaky pipe underwater. Is it marketing? Is it service? Is it pricing? It could be anything, and there’s not time to tinker and figure out. It’s a guessing game where a wrong answer could mean the end of your business!
Big data aims to fix that problem. Seeing in real-time the changes that are occurring in sales patterns can help isolate causes. If a big jump in sales corresponds with a new e-mail campaign, you can see how much of it is coming from the e-mail campaign and how much is changing somewhere else. You can diagnose problems before they get bigger, and ramp up successful efforts before they lose momentum.
3) Build and train your team
It may be hard to isolate what parts of the customer experience are most or least successful at converting leads. Maybe your team has a weakness in retention, but excels in initial conversion. Big data can help diagnose where the weaknesses are with granular precision. If you have a few agents who aren’t “morning people,” but start rocking at 3 pm, big data can show you that.
The data revolution is coming to your industry, and the only question is if you’ll be leading the charge or playing catch-up. Ready to take the big data plunge? Contact us to start filling your sales pipeline, today!
Though many modern marketers and business executives have heard of and understand terms like data analysis, big data, data mining, predictive analytics, and the like; there are still many professionals that have heard the terms, yet don’t understand them.
However, predictive analytics is something that all professionals should strive to understand.
Predictive analytics can offer businesses a simple way to increase revenue while decreasing risks and costs.
Predictive analytics is the use of data gathered through:
… to clarify what has happened in the past. In theory, studying these patterns can predict future behaviors in many cases. However, some experts believe that predictive analytics still aren’t an exact science. Harvard professor Gary King believes that,
“statistical prediction is only valid in sterile laboratory conditions, because the number of environmental variables and human responses to those variables is inherently unpredictable.”
However, criticism aside, results speak for themselves.
Businesses in dozens of industries are seeing results from the study of predictive analytics. It seems studying data can support some degree of future buying behavior and decision-making, though maybe not all.
In addition, as technology becomes more proficient, predictive analytics programs gain increased speed and ability to carry out projects.
A Modern Tool that Greatly Improves the Traditional Sales Process
Most sales professionals are familiar with the traditional sales process. It typically consists of steps like:
Predictive analytics improves just about every step of the traditional sales process except the first step of gaining product knowledge. That, the sales professional will have to complete on his or her own. However, predictive analytics:
In addition, predictive analytics helps marketing and sales teams work hand-in-hand when it comes to making contact with prospects and nurturing leads.