According to a study by independent UK consultancy Sagacity, businesses in the UK lose £244 billion every year due to poor-quality data. That’s because data is one of the most valuable assets that a business possesses. If the data is tainted then it can hurt the organisation financially, not to mention eat up valuable time and resources.
Examples of how outdated FCA data could negatively affect a business include poorly targeted marketing campaigns, inaccurate sales reports and customer surveys, or a failure to understand your market. In general, obsolete data causes the wheels of business to turn that much slower, halting growth and progress.
Outdated FCA data can be caused by various issues, including duplication, conflicting information, failure to keep information up to date, and incomplete or invalid data. All of this can mean you are focusing your business efforts in the wrong direction, which emphasises why B2B data cleansing is so important.
Let’s take a closer look at the impact of outdated FCA data and how cleansing services help to drive growth, allowing you to make better, more informed decisions and stay more agile in your operations.
Ongoing Data Services
Ongoing cleansing of CRM or marketing systems is vital to ensure that client records are always accurate and up-to-date. If data cleansing is not carried out in a regular or ongoing manner, with unwanted data removed, formatting corrected and data validated then it can quickly start to lose its usable potential. By working with a company such as Autus you can ensure your data is kept clean, consistent, accurate and effective moving forwards.
The Power Of Data
Data has become an invaluable resource that holds the key to unlocking business growth. Harnessing the power this data offers is essential to staying ahead in a competitive market. Accurate data provides a range of business advantages including:
- Precision and accuracy, minimising guesswork and errors.
- Informed strategic approach and planning based on customer and competition behaviour.
- Risk mitigation thanks to early identification.
- Operational efficiency and streamlined processes.
Clean and vetted data from the Financial Conduct Authority (FCA) is essential for B2B Financial Services’ growth, enabling informed decision-making and effective risk management.
Data reputation
It’s not just business growth and activity that is based on accurate data. Regular FCA data cleansing and verification processes should be implemented to maintain data accuracy and integrity, as outdated or invalid information can lead to wasted resources, lost opportunities and damaged reputation.
In fact, FCA data can be used to drive reputation management. When effectively collected and visualised, it can be used as the bedrock for reputation strategy. This might involve adjusting your messaging and positioning to align with your customers’ needs, or it could help you create and distribute engaging and compelling content that showcases your expertise. Connecting with customers and stakeholders, building credibility, and achieving your objectives are all built on the foundation of clean data
B2B Experience
When selecting a data cleaning company, it’s crucial to evaluate their expertise in the B2B sector. B2B and B2C companies have distinct differences, including unique data requirements and target audiences for their products. Therefore, a data cleansing company’s experience in the B2B realm is a critical factor to consider.
For B2B organisations aiming to market their products and services within the UK Financial Services sector, this experience is indispensable. Such expertise in the B2B market provides a comprehensive understanding of the specific data needs and requirements of these clients.
How We Can Help
Our services provide access to a vast network of 70,000 firms and over 200,000 industry decision-makers. This eliminates the need for time-consuming tasks like social media trawling or spreadsheet updating, allowing you to focus on building meaningful relationships and propelling your business forward.
We offer access to FCA Register and FCA Directory data, email addresses, corporate telephone preference service information, segmentation models, and assets under advice for asset management businesses, all aimed at fostering your business growth.
Our client base spans various sectors, including asset managers, consultancies, law firms, marketing agencies, mortgage lenders, and more. We take pride in serving some of the most respected names in these industries.
If you would like to know more about CRM data cleansing, contact Autus today and request a free, no-obligation review of your current data!
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