Why Should a Business Validate Leads?
Your business is measuring how many leads you generate with your marketing efforts. You’re even scoring your leads’ likelihood to buy with a marketing automation tool or CRM. But can your marketing and sales tools tell you if your contacts are legitimate prospects? Lead validation fills the gap between marketing automation and sales efforts, creating more visibility in marketing and more efficiencies in sales.
Validating leads can help any B2B or B2C business improve their marketing and sales tactics, but it can be especially transformational for international companies. While all businesses face the issues of incomplete, incorrect, or spam form submissions, there are unique challenges to doing business in the global market. Differences in country address formats and language characters can muddy your data. What’s more, automated validation can provide a solution to international compliance issues.
What is lead validation?
According to Michael Brenner, the CEO of Marketing Insider Group, lead validation is critical to your marketing – without it, you run the risk of grossly overestimating the ROI of your marketing campaigns. We agree wholeheartedly.
Lead validation is the process of verifying and scoring the quality of the leads you generate. It’s risky to assume that each phone call to your sales team or form completion on your website indicates a strong lead. According to a recent study by marketing services firm Straight North, analyzing over 350,000 marketing inquiries, barely half of them were legitimate sales leads. Manually sorting through past inquiries could be considered a form of lead validation, but in practice it’s inefficient. Moreover, you may not recognize typos or spam entries by sight alone.
By implementing a lead validation service, you can use automation to cross-check new lead information and push your most promising leads to the top of your sales team’s to-do list. Our DOTS Lead Validation – International service supports more than 250 countries with the most accurate, current data available and integrates with leading CRM and marketing tools like Salesforce, Marketo, and Hubspot.
How does lead validation work?
Simply put, the contact input you collect from your leads is verified as real, then compared to existing data sources to correct and append the information where needed.
How does our Lead Validation – International service work? It verifies and cross-validates contact data, including a prospect’s name, address, phone, email, and IP address against hundreds of authoritative data sources. Following verification and correction, it provides an overall quality score of 0-100 for the lead itself, and a specific quality score to each data point. Your business logic determines the parameters of how the output works with your processes. Our notes even indicate if a contact is covered by the General Data Protection Regulation (GDPR), so you can be sure you’re in compliance.
Why is lead validation important?
Almost every department in your organization benefits from lead validation. Here are just a few of the ways that lead validation can directly strengthen your business practices:
- Marketing – Gain a better understanding of effective (and ineffective) marketing practices, pivot campaigns quickly, and create powerful and personal marketing automation. Scores can be connected to campaigns for a more accurate lead gen reporting.
- Sales – Spend more time and energy focusing on leads that score the highest, gain insights to leverage during sales calls, and deploy effective sales drip automation.
- Business Development – Collect clean, accurate data to make projections and plan growth.
- Compliance – Adhere to regulatory guidelines, such as GDPR.
Lead Validation – International can be deployed in four ways
- Real-time API – Check and score data at the point of entry.
- Cloud Connectors – Connect with major marketing, sales, and ecommerce platforms.
- List Processing – Batch services are available to clean up existing databases.
- Quick Lookups – Spot-check leads that come in through nontraditional channels.
The bottom line: validating your leads ensures your contact records are as genuine, accurate, and up-to-date as possible, and helps your team identify contacts that fall under data privacy regulations. If your business is spending time and money on global marketing and sales efforts, lead validation should be the next tool you add to your toolkit. Get your free API trial key and see how Lead Validation – International provides powerful insights to help your business grow.