An accurate sales database is crucial for success. When you have outdated, incomplete, or irrelevant prospect information, you’re sacrificing significant time and losing revenue. Top sales reps tend to leave the company within six months if they’re not set up for success (including a clean prospect list). This blog will examine five sales database management strategies to keep your list healthy.
1. Audit your current database
Start by ensuring you have a well-defined target market. If not, take time to identify your target prospects to focus your sales efforts on the right audience. Creating buyer personas is an excellent exercise, to ensure everyone on the team understands your target prospects’ values, motivations, and challenges.
Then, audit your sales database:
- Remove any records that don’t match your target market
- Identify holes in your data, including missing fields or inaccuracies
- Make sure existing data is current
2. Identify and utilize lead sources
To maintain a healthy sales database, it’s essential to add new leads on a regular basis. Identifying quality lead sources should be an ongoing responsibility for your sales reps. Explore options such as tradeshows, association memberships, industry publications, and social media outlets. Purchasing lists can also be beneficial, if the data is verified and fits your target market.
Create a process for gathering and verifying leads, ensuring only qualified data is imported into your database.
3. Work your list
Did you know a list that isn’t used regularly becomes outdated almost immediately? Industry reports suggest up to 70% of B2B sales data can become outdated every year.
Sales reps should nurture their prospect lists by cold calling, sending marketing emails and direct mail campaigns. Consistent outreach provides an opportunity for reps to ensure contact information is accurate and updated in the sales database.
4. Measure list metrics
Effective database management requires measurement. Identify a few metrics that show progress in your database and represent key wins in your sales process. Consider the size of your database, email marketing opens or clicks, appointments set, or other factors relevant to your sales organization. Sample metrics include:
Once you choose the metrics you will track, measure them regularly to follow the progress of your sales database management.
5. Identify who’s in charge
Though your entire sales team uses your database, one person should be assigned to oversee and manage it. If feasible, it is beneficial to have a dedicated database specialist or list manager, to ensure consistency and accountability for managing your database. This individual should maintain data-entry standards, regularly audit data for accuracy, and handle configuration and reporting needs.
If you’re unable to dedicate appropriate resources, you may consider outsourcing your list management.
Looking for more sales database management strategies? Check out this guide: 5 Pillars of Successful B2B List Management.