How Much Business is Sitting in Your Existing Database?  

When businesses want to generate more new business, the first instinct is often to look for more prospects. 

More contacts, more data, and more LinkedIn connections mean more leads, right?  

Not always. What if some of your next opportunities are already sitting in your database?  

Most businesses have years’ worth of data just waiting to be used. Previous enquiries, old customers, prospects who went quiet, and contacts who may simply have not been ready at the time.  

The questions is how much of that data are you using?  

Your Current Data Base Has Value 

A database isn’t just a collection of names, emails and phone numbers. Done properly, it can give you a history of conversations, relationships and potential opportunities.  

You might have:  

• Previous customers who haven’t purchased or worked with you recently 

• Enquiries that never progressed 

• Prospects who weren’t ready when you first spoke  

• Prospect that previously showed an interest in your service  

• Old opportunities that were put on hold 

• Customers who could benefit from another service or product  

Not all these contacts will become customers, of course. But if nobody is looking at them, you’re making assumptions about their value without giving them an opportunity to engage.  

Things Change 

Just because someone wasn’t interested six months ago, doesn’t necessarily mean they’re not now.  

Circumstances change. Budgets change, people move into new roles, businesses take on new projects and priorities shift.  

A prospect who wasn’t ready to have a conversation before might now have a completely different reason to talk to you.  

This is why follow up shouldn’t always mean repeatedly contacting someone about the same opportunity.  

Sometimes, it’s simply about reopening the conversation.  

Check Your Data  

Before you start contacting hundreds of old records, it’s worth looking at the quality of the information you have.  

When was the last time your databased was reviewed? It’s a good idea to look to see if:  

• Contact details still correct  

• Right contact for the decision maker  

• Has the contact changed roles  

• Any duplicate records 

• Businesses may have closed 

• Right target fit for your target audience 

Good data gives your team a much better starting point. It also means your time isn’t being spent chasing contacts that are no longer relevant, while potentially overlooking the ones that could be valuable.  

For more on why keeping your database accurate and up to date matters, look at our previous blog on the importance of data cleansing.  

Use What You Have  

It’s easy for businesses to focus on building bigger databases. But having thousands of contacts doesn’t automatically create more opportunities.  

The value comes from knowing what you have, keeping it up to date and having a clear process for doing something with it.  

For example, you could separate your database into groups such as:  

• Previous customers – people who already know your business and may have further requirements 

• Past enquiries – people who expressed an interest but didn’t progress 

• Dormant opportunities – prospects who had conversations with you but haven’t been contacted recently 

• Newer prospects – contacts who have shown interest but haven’t yet had a meaningful conversation 

• Unqualified or outdated records – contacts that need reviewing before any further time is spent on them 

This makes it so much easier to decide what needs to happen next rather than treating every contact in the same way.  

Your CRM can be a valuable source of information, but only if you’re making proper use of it. We looked at this in more detail in our previous blog about poor CRM usage. 

What Could You Be Missing?  

As we know, it’s easy to focus on the number of contacts you have in your database. But the more useful things to look at is what those contacts can tell you.  

You may be able to identify patterns that aren’t immediately obvious. Perhaps several previous customers haven’t purchased from you for a while, or the number of enquiries that came in around a particular service never progressed.  

There could also be opportunities within your existing customer base that aren’t being considered. A customer who has used one of your services may not know about everything else you offer.  

Your database can therefore tell you more than who you could contact. It can help you understand where potential opportunities already exist.  

The key is taking the time to look beyond the contact details and understand the information it is telling you. 

Keeping existing customers engaged can also create opportunities that might otherwise be missed. HubSpot explores this further in 9 Benefits of Lead Nurturing. 

Start With the Right Contacts 

You don’t need to work through your entire database all at once.  

Start by identifying contacts most likely to have a reason to engage with you. This could be previous customers, recent enquiries, prospects who reached a certain stage in the sales process or businesses that fit your ideal customer profile (ICP). 

From there you can prioritise who needs updating, who is worth contacting and what the next step should be.  

A more targeted approach is likely to be far more useful than simply sending the same message to every contact in your database.  

Knowing which contacts to prioritise can make your database much more effective. HubSpot shares some useful tips on how to prioritise sales leads based on interest and fit in its guide, How to Prioritize Sales Leads in the Era of Inbound Sales 

Make Your Data Work Harder  

Your database doesn’t need to contain thousands of contacts to be valuable. It needs to contain useful information about the right contacts, and you need to know how to use it.  

We could clean outdated records, locate the right decision makers, understand previous customer relationships, and identify overlooked opportunities.  

Sometimes, generating more business isn’t about finding more people. It’s about making better use of the information and relationships you already have. 

Before looking for your next opportunity, it could be worth asking yourself: How much business is already sitting in your existing database?  

Need help reviewing your existing database and identifying where the opportunities are? Get in touch today to see how we can help you make more of what you already have.