Every business professional wants to make most of their time and budget. Unfortunately, they overlook the data goldmine underneath their nose while chasing new prospects or investing in new platforms. If you are one among them, get rid of all the shiny distractions to focus on what’s more important. Unlock the value of the database to identify the sales opportunities around you. This Infographic reveals impressive facts about B2B data and its power to drive more leads over the customer lifecycle.
Infographic Content:
Data holds the key to sustainable growth of any B2B company. In marketing world, innovation and evolution stem directly from the data your business possess. Leverage its value to truly understand your market and act accordingly.
Data is a Goldmine and Quality is its Key
- 88% – Believe data quality is important to run ABM strategy
- 66% – Reported revenue boost because of high-quality data
- 25% – Saw an increase in conversion rates with clean data
Unfortunately, the Confidence of B2B Marketers in Data Quality Has Lowered!
- 49% – Not Confident
- 51% – Confident
- 11% – Extremely Confident
Because B2B Data Decays So Rapidly
- 40% – Email address change at least once every two years
- 15% – Email address change one or more times a year
- 20% – Postal addresses change every year
- 18% – Telephone numbers change every year
- 21% – CEOs change every year
- 60% – Job titles change within their organizations each year
Also, Lack of Sophisticated Data Management Raises the Level of Inaccuracy
- 59% – Human error
- 31% – Lack of internal communication between departments
- 24% – Inadequate data strategy
- 22% – Lack of internal manual resources
- 22% – A lack of relevant technology
- 20% – Insufficient budget
- 19% – Inadequacies in relevant technology
- 14% – Inadequate senior management support
- 5% – Other
Bad Data Is Hindering the Performance of B2B Strategies
[Business processes most affected by dirty data]
- Lead generation – 80%
- Marketing – 66%
- Finance – 30%
- Customer Relationships – 54%
Slackness is a Major Obstacle to Data-Driven Marketing Success
- 4 in 10 US B2B marketers said they have a lack of data expertise.
- Only 38% use software to verify data at the point of capture.
- 34% use software to clean data only after it has been collected.
- 23% rely solely on manual checks to verify the contact records.
Rotten Records in Your Database Will Not Serve Your B2B Industry Anymore
Don’t panic! Prioritize Data Quality to Ensure Success
- 30% – use a centralized approach to manage data quality.
- 53% – use SaaS to accomplish the highest quality data.
- 55% – use an automated method to manage data accuracy.
- 64% – use third parties for their data quality strategy.
- 94% – append enrichment data to their contact records.
Make the Most of your Database with Strategy Development
- Create benchmarks around accuracy
- Verify all the records upon entry
- Use analytics to learn the pattern
- Review the data management process
- Build data performance indicators
- Use metrics to evaluate the failure
Govern your data wisely. Good luck!
Source:
- Dun & Bradstreet
- Synthio
- Kissmetrics
- RingLead
- Econsultancy
- Experian
