In today’s data-driven marketing world, accurate data have become a fundamental part of business success. This is why marketers are increasingly collecting data from authentic sources and customer interactions. This data is, in turn, aids organizations in improving their overall customer experience, and foreseeing emerging buying behavior.
However, businesses can reap this outcome only if their data is clean. In fact, dirty data will negatively impact your business bottom line and can be costly in the long run. When your company database is filled with dirty data, the marketing or the sales team cannot make well-informed decisions, resulting in lower productivity and loss of investment. It can cause expensive marketing activities to go to waste.
The only cure-all that assists the business in this situation is data cleansing services. It gets rid of bad data in your B2B database, and thereby helps you reach the right audience. This Infographic highlights the importance of this service alongside the cost of dirty data on your brand.
Dirty Truth of Bad Data in B2B Database:
- 10 – 25% of B2B marketing database contains critical errors
- At least 50% of prospects are not a good fit for your business
- 27% are not sure how much of their data is accurate and reliable
- 57% learn about dirty data only when prospects report it
Data Decays More Rapidly Than You Could Imagine [Yearly Basis]
- B2B brands see customer data decay around 30-70%
- It’s projected that 27% of employees change jobs
- About 20% of prospect’s postal addresses change
- Up to 17% of people change their phone numbers
- 39% of email addresses change or become invalid
- Around 20% of Chief Executive Officers keep changing
If you did not know, it costs
- $1 to verify a record
- $10 to cleanse and de-dupe
- $100 if nothing is done
So, it’s now or never!
Dirty Data is the Silent Killer
- It costs the U.S over $3 trillion each year
- It effects on average 40% of the leads generation
- It costs B2B companies 12% of overall revenue
- It reduces 546 hours a year of a full-time sales rep
Clean Data is the New Gold
- Robust data quality practices can boost revenue by 66%
- It can offer an average return of $4.60 for every $1 spent
- It improves customer retention rate by as much as 29%
- Clean data is capable of increasing the conversion by 78%
There is a lot of power in clean data. Start practicing data cleansing from today!
Source: SeriusDecisions, Harvard Business Review, HubSpot, ADP Research Institute, Informatica, Leadspace, Integrate, IBM Big Data Hub, Socialnomics