Save Your Business From Hefty Losses By Outsourcing Data Verification Services

If you’ve contemplated incorporating data verification solutions into your business operations but have been hesitant to do so, you should think about the benefits you’re overlooking. Data gives your company valuable insights that help you to better understand and communicate with your target audience. However, these advantages can only be realized if you have precise and dependable data, which consumer data verification services can provide. Let’s dig deep into data verification, its importance, and the benefits of data verification for your company in more detail. Further, we will also elaborate on how inaccurate data can hamper your business and various risks to avoid while dealing with data verification.

Table Of Content

• Data Verification- What It Is And How Is It Different From Data Validation?
• Importance Of Data Verification
• What Happens When You Deal With Inaccurate Customer Data?
• Avoid Common Risks While Data Verification
• Why Does Your Business Need Quality Data Verification?
• Unleash Major Business Benefits By Outsourcing Data Verification Services
• Wrapping Up

Data Verification- What It Is And How Is It Different From Data Validation?

Data validation and data verification may appear to be the same thing. However, when it comes to the complexities of data quality, these two critical elements of the jigsaw are vastly different. Understanding the difference might help you grasp the overall picture of data quality.

In a word, data validation is the act of verifying whether a certain piece of data fits inside a field’s permitted range of values.

Data verification, on the other hand, differs from data validation in several ways. Verification examines existing data to confirm that it is correct, consistent, and serves the intended purpose. When data is moved or combined from external data sources, verification is very important. Consider a corporation that has recently bought a tiny competitor. They’ve opted to include the client data from the purchased rival into their own invoicing system. It’s critical to check that records from the source system were properly transferred as part of the migration process.

	Data Verification	Data Validation
Purpose	Verify that the data is correct and consistent.	Examine the data to see if it falls within the permitted range of values.
Performed	When data is migrated or merged, there are a few things to keep in mind.	When new or updated data is produced.
Example	Verifying that the dataset’s ZIP codes are all in the ZIP+4 format.	Check to see whether the ZIP code given by the user can be discovered.

Importance Of Data Verification

Regardless of location, size, or industry, every firm needs data verification for its consumers. If you don’t have procedures in place to automatically monitor data quality, you risk accumulating mistakes that cost time and money.

Customer verification is critical, and it cannot be stressed. Because you can’t construct a sales funnel with erroneous or unreliable data, databases and lead lists are only as valuable as the information is given. You can’t write accurate reports unless you start with verified information. Consider the difficulties of contacting a disconnected phone number or sending an email to an undeliverable email address. In the end, you’re likely to discover that investing in verification services might have spared you—and your organization—from squandering time and dollars.

Inaccurate data has a negative influence on a company’s ability to attract new consumers. It may also make it tough to contact such consumers in the future if you need to contact them about a purchase or reconnect with them for a new product. It is hard for a huge company to manually rectify incorrect inputs. The implications of poor-quality data only end when they’re addressed and resolved, therefore not fixing the data isn’t an option.

What Happens When You Deal With Inaccurate Customer Data?

1. Delay in contacting clients

When your client data is incorrect, it can generate a slew of problems for your company. To begin, you’ll almost certainly suffer a delay in contacting a client or lead as you look for the necessary contact information. You may believe that your emails, mailings, or outreach efforts are being disregarded when, in fact, they aren’t being received at all.

2. Manual validation consumes more time and capital

Another issue with inaccurate data is that manually validating it costs the individual time and money. They might waste a lot of time looking for the proper data when an automated data verification system can check and rectify several data sets in a matter of seconds. Employee morale might suffer if this problem exists throughout the business or with several clients.

Instead of connecting with prospects and acquiring new business, they are scouring the internet for accurate data. Investing in data quality connectors that allow you to validate information for usage throughout the enterprise is a better option for your company.

3. Dicy consumer trust

One of the most serious consequences of untrustworthy data is a negative consumer opinion of your company. If customers can’t trust you to get their information right the first time, they may believe they can’t trust you with their purchases. If you send a shipment to the wrong address and it never arrives, the client may be annoyed at having to waste time calling your organization for a replacement. Address verification for businesses, for example, is a preventative step that boosts your bottom line and increases productivity by averting these concerns.

Keep in mind that a bad reputation might be difficult to overcome. When you have a terrible email address for a customer, for example, here is an example of this. Your emails do not reach the intended recipient, resulting in a greater bounce rate for your company. You risk having a negative reputation with your email provider, which might result in you being banned. When your organization is blacklisted, your emails are routed to the spam folders of your customers, making them less likely to be seen. Email validation may save your time and ensure that your message reaches your intended audience.

Avoid Common Risks While Data Verification

1. Preventing Expensive Chargebacks

Every year, credit card fraud accounts for a significant fraction of the overall number of identity theft instances. Because most transactions fell into the “card-not-present” category when businesses began enabling customers to use credit cards for online purchases, it became significantly easier to perpetrate fraud.

As a consequence, people would fraudulently use credit cards that weren’t theirs to buy products online, then cancel the transaction after the genuine owner of the card found out. The firm would be responsible to repay the money if the original fraudster could not be identified and traced.

2. Invalid Postal Addresses Are Not Verified and Corrected

When a consumer places an order, an incorrect postal address result in a terrible experience since the order never arrives or arrives at the wrong address. Great practice for ensuring a pleasant client experience is to correct this information before it enters your systems – and then into your distribution center for shipment. When it comes to eCommerce order fulfillment, customers have high expectations. It is critical for businesses to meet or exceed these expectations, especially when competing on customer experience.

When clients live in a foreign nation – or if their written language varies from yours – the situation gets exponentially more complex. When customer service employees and marketers are unfamiliar with the format, it’s difficult for them to be certain that a postal address is correct.

3. Invalid Email Addresses Aren’t Verified and Corrected

An incorrect email address causes issues for a brand by increasing the bounce rate for email marketing. When a brand’s email sender reputation is harmed, high bounce rates might pose a problem. Blacklisting difficulties, which are costly and time-consuming to resolve, can result from a bad sender reputation combined with poor email hygiene.

When a brand gets blacklisted, its emails are sent to the receiver’s spam bin and never reach their intended recipient. This inability to reach clients may be expensive in terms of missed sales and blocked communication, especially because email marketing has one of the strongest ROIs in the company.

4. Invalid Phone Numbers Aren’t Verified and Corrected

For firms in many industries, a customer’s phone number may be used in a variety of ways. Calling a customer can assist address a customer care issue or establish a sales prospecting touchpoint. For an appointment, you may also need to send a confirmation text. In any event, when a company has to contact a consumer over the phone, an invalid number is expensive, but a legitimate number is incredibly useful.

Why Does Your Business Need Quality Data Verification?

1. Email marketing that is more effective

Deliverability is a crucial part of both email marketing and the marketing division as a whole. Although spam filters differ per ISP, they are designed to be more active across a larger spectrum. Now, data corruption in your database will further exacerbate the email delivery problem. Your ISP will be impacted if you send an email to addresses with a high bounce rate or non-engaging features because you typed the wrong person’s id. The more erroneous the data, the less likely it is that your emails will reach the inbox due to clipping.

ISPs may put your company on a blacklist in a few severe instances. As a result, keeping a contact profile with the proper information, so that you can send the email to the relevant person, is critical for your organization. Take use of the data verification service and forget about your worries.

2. Personalization is encouraged

For every vertical, personalized marketing is evaluated and desired far more than a wide messaging strategy. Attempting to provide a customized message to leads is akin to alerting them that you are paying close attention to their behaviors on your website. You strive to persuade the leads that their decisions are important and will be addressed. The tailored message you deliver to leads is a calculated risk that you take based on data that you believe is correct.

Consider the case when the contact information is not precise, i.e. erroneous, and you send the email to the wrong individual. As a result, what you believed would earn you the lead ends up bringing you down due to erroneous data. As a result, data verification services are incredibly beneficial when it comes to gaining the trust of leads or consumers and preventing brand harm.

3. It gets less difficult to generate leads

Creating a lead scoring and qualification system is a difficult and time-consuming task. Now, if the data is incorrect, the entire lead generating process, as well as your efforts, will be squandered. You’ll lose out on important accounts, and your efforts to achieve the required ROI will suffer. Using data verification services ensures a more efficient and lucrative lead creation process, which equals a higher return on investment for your company.

4. Prevents data degradation

Data verification is a procedure that addresses the issue of data degradation. The professionals that provide these services try to eliminate duplicate data, locate inaccurate information, and identify emails that are likely to trigger spam filters.

Unleash Major Business Benefits By Outsourcing Data Verification Services

1. Increases Profit

Businesses that try to handle everything internally always wind up jeopardizing their main business activities. If a business tries to validate data internally, it will have to invest a significant amount of time and money. Clearly, time is a finite resource that can never be replaced. You can utilize the same time to perform key business tasks or non-core functions such as data verification. Additionally, when everything is checked ahead of time, the risks of failed partnerships and hiring ineffective staff are reduced. This is how transferring this duty to a third party may significantly boost your company’s revenues.

2. The total cost of ownership is reduced.

Hiring call center services might result in significant cost savings for a company. Not only that but the money saved may be put toward improving products/services and fundamental company processes. You can be confident in the credibility of the partnerships and workers you hire if you outsource this. This lowers the total cost of ownership as well (TCO).

3. Customers are satisfied

It’s not as simple as it appears to be to satisfy all of your consumers. As a result, it is preferable to obtain the best services possible, preferably from reputable firms. Professionals are usually well-trained and capable of dealing with consumers with the highest care and conviction. All of this contributes to overall organizational growth since you are not wasting time by employing ineffective workers or forming ineffective relationships. Your partners and workers are efficient, productive, and dependable.

4. Enhances productivity

A well-informed and well-trained individual can ensure that your company achieves the greatest possible outcomes. If you recruit personnel without first confirming their paperwork, you risk hiring someone who is unqualified for the position. This has a negative influence on the organization’s growth. Delegating the duty of verification to specialists, on the other hand, improves efficiency.

5. Better data management and monitoring

In-house personnel might be careless at times, which can result in data loss and theft. Professionals never take chances, and they constantly preserve meticulous records of data and comprehensive backups in case they need it in the future.

The benefits of outsourcing data verification services are clearly stated in the preceding statements. So, if your firm hasn’t considered how important data verification is, now is the time to do so. It’s always preferable to be late than never to be late.

Wrapping Up

Customer data has become an essential component of every company’s bottom line. Businesses may gather data that helps them to learn more about their clients and create a more tailored experience. They can use the data to upsell more items or services to clients and give customized marketing to them.

Businesses that use consumer data to enhance communication efficiency and effectiveness can boost sales and improve customer loyalty. Finally, correct data enhances the customer experience, resulting in a win-win situation for both the consumer and the company. 

So, if you are searching for quality data verification and validation services, look no further than DataEntryIndia.in. Reach out to our experts at +1 585 283 0055, +44 203 514 2601, or send your queries at info@dataentryindia.in