Customer and prospect data is the life’s blood of truly effective marketing. As marketers we acknowledge this, but are we focused more on the size of our databases? Is size really what matters? Ok. It matters a little, but it may be that quality matters more. When your data is old, incomplete, inaccurate (aka dirty), marketing performance and ultimately sales suffer. In fact, in a recent DemandGen Report, it’s not only sales and marketing that are impacted. Surveyed companies noted that Finance (30%) and customer relationships (54%) are also effected.
So how bad is our data? According to the DemandGen Report, more than 62% of companies rely on marketing data that is 20% to 40% incomplete or inaccurate. Almost 85% of the companies surveyed say they are operating CRM and sales databases that house between 10% and 40% bad records.
What is bad data, exactly? It can be as simple as an email address missing from a record that is otherwise current, duplicate records, incorrect contact information for a company that otherwise meets your ideal customer target… basically, it’s any data that impedes your ability to reach the contact from a marketing and sales perspective.
With 8 out of 10 companies that their lead generation efforts have been effected by bad data, what can you do to make sure that your company is not one of them?