Companies of all sectors and industries rely heavily on data for their operations. Data plays an imperative role for companies and leaders to gain informed decision-making, respond to change, and establish strategic goals. Data plays a more significant role in lead generation campaigns. In 2020 alone, 4.8% of enterprises have invested more than $50 million in Big Data and AI initiatives for their company.
If you think it’s too much money just for a piece of information, then you do not see the whole picture. Data plays a critical part in a business’ sales process, particularly the lead generation aspect. The data you’ve gathered turns into reports, and those reports, in turn, allow you to understand your customers adequately.
How Data Benefits your Business
Data goes beyond information. Potential customers’ phone numbers, email, and postal addresses are among the data sets most in demand in a growing international business. So how does this set of information benefits your business?
Data Makes Campaigns Efficient
The lack of data with their leads renders leads useless. Leads without qualified data are essentially unusable, given the amount of customization you have to pour dedicate in every lead generation campaign. It’ll be easier to create segments and customized pitches for your leads to follow with comprehensive quality data. It’ll be easier for sales and marketing teams to make personalized pitches and outreaches, thus giving them more leverage to upsell and create sales.
Data Allows Sales Teams to Understand the Customer
Prospects or leads don’t like talking with salespeople who don’t know nor understand their needs, which will eventually lead to frustrations on both sides – customers getting annoyed that salespeople are pitching the wrong solutions and the sales team losing their leads.
Sales teams can avoid these issues if they have established data because they already have a basis to work with. They can better understand their leads’ needs, tailor their products and services to their customers, and create compelling messaging that resonates well with their prospects.
Data Gives Sales Teams Talking Points
When sales teams understand their customers better, the more talking points they gain. Salespeople can ask questions, more concrete answers to inquiries, and have more topics they can talk about. When customers feel that sales teams are well-equipped with information, it leads to more profound and meaningful interactions and eventually leads to better conversion rates.
Manual Data Entry: A Bane or Boon to Businesses
Not all data is created equal, and the amount of data you need to run successful sales campaigns doesn’t matter. Always remember that a hundred quality leads data are better than a thousand unrefined leads.
Traditionally, data is “gathered” through manual data entry and performed by data entry operators (people). Manual data entry requires entering specific and predetermined data such as prospect’s name, business type, money amount, etc.
Operators can obtain information from various sources, including paper bills, invoices, orders, receipts, etc., into a target program. Depending on the type of business, the target program could be handwritten record books, spreadsheets, computer databases, etc.
Manual data entry might be a good option for small-scale businesses (1-10 employees) because of its cheap staffing. However, manual entry can restrict expansion and inhibit progress due to these reasons.
Cost penalty. Imagine you’re going to a world-class, luxurious hotel, but has a cheaper price tag. Seems like a bargain, right? But the hotel never made mention or made you aware of the hidden fees and costs. You’re having all the fun, but the moment you check out, you realize that you’ve been completely ripped off. The same analogy applies to manual data entry. You’re spending on hiring staff and spend more on correcting data errors. Manual data errors are costly. Study shows that incorrect data costs businesses at least 30 percent or more of their revenue. It is a penny-wise foolish move to spend more on manual data entry, thinking it can save your business costing.
High Error Rate. Surely the error rate for manual data entry is not that bad. Well, data says raw Data entry not followed by verification steps shows an error rate as high as 4%. That’s two errors for every five entries made. Another study indicates that data entry operators make 10.23 errors when processing data. These data errors may seem like minor collateral damages, but they eventually create discrepancies in your desired output. The higher the error rate, the higher the damage and cost it’ll bring for you and your business.
Slow Turnaround Time. Manual data entry is time-consuming, and businesses can’t afford to waste too much time. Turnaround time can result in delays, extra expenditure, and even more errors – three aspects of which companies can’t afford to risk investing.
Findings: Manual data entry is a bane to every business’s existence.
Remedy: Automate your data entry efforts today, and save plenty tomorrow.
How Automation Helps you Avoid Losing Leads
Manual data entry error is the main culprit as to why your number of leads is dwindling. The consequences of non-automation are forgetting to follow up with your prospects or calling leads based on the order they appear on your system. You can avoid these pitfalls by implementing a sales automation strategy for your business.
Automation can help you not only simplify your sales processes from approvals, notes recording, lead scoring, call logging, customer onboarding, or any other manual and repetitive tasks in your sales process. There are plenty of tools available in the market. One of the many is Saphyte CRM.
Saphyte is a UAE homegrown business operating out of Dubai. Currently, Saphyte is helping hundreds of local companies in and out of Dubai to drive digital transformation through local support, zero implementation fees, competitive subscription models, and an advanced SaaS CRM ecosystem technology.
Here are some of the benefits you can gain with a sales automation platform, like Saphyte’s customer relationship management (CRM) software, you can achieve.
Identify Potential Customers. With a CRM like Saphyte, it’s easier for sales teams to view and track the best quality leads, leading to much more successful conversions. This way, sales teams are only monitoring and talking to the most important leads.
Lead Information. With Saphyte’s features and functions, your sales and marketing teams can learn more about the prospects and which industry they’re in. Data like this helps your team understand your prospects’ needs and requirements and the best ways to engage with them.
Easy Reporting. Using a CRM like Saphyte can help you stay informed with the use of internal emails and reports. You can kiss spending hours to keep the rest of the team on the loop goodbye, as the reporting happens automatically.
Create Invoices and Quotes. Saphyte helps your team create detailed and straightforward invoices and quotes in a matter of minutes.
Marketing and Sales Tools. Saphyte is packed with features and functions that you can use to make your sales and marketing teams work easier, straightforward, efficient, and effective.
Make Data Work for you by Partnering with a Sales Automation Tool that Works with you
Feeling like this is your chance to take your e-commerce CRM integration to the next level? Book a demo with us today, or start your free trial now! Reach for a new possibility and unlock your e-commerce business’s potential with Saphyte today!
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