B2B Data Decay
We all know that b2b data decay happens over a period of time, but you would be surprised just how rapidly that happens.
B2b data decay happens naturally and consistently over a period of time due to people changing jobs, job roles, telephone numbers and email addresses as well as businesses going out of business or changing their names and addresses.
We all want our campaigns to get the best possible response rates but due to this, most companies are working with a b2b database that contains old information that actually hinders their campaigns as well as other areas of their business like lead generation, relationships with customers and potentially finance.
Typical B2B Data Decay Rates in Numbers
The following statistics are typical:
- 62% of businesses rely on marketing data that is up to 40% inaccurate
- Up to 25% of b2b database contacts contain critical errors
- 40% of direct marketing campaigns fall flat due to inaccurate data
The critical errors are largely down to the following stats:
- 30% of people change jobs
- 34% of companies change their names
- 43% of people change their telephone numbers
- 34% of peoples job titles/roles change
- 37% of email addresses change
Bad b2b data can have a serious negative impact on organisations marketing strategies.
Businesses were asked what they thought the impact of bad b2b data.
- 26% said the response rates to email campaigns was affected
- 30% said there was a drop in direct sales
- 44% indicated bad b2b data affected their sales people’s ability to communicate with existing clients and prospects.
What did companies say happened when they used clean b2b data?
- 66% reported that they had increased revenue
- 25% increase in conversion rates from enquiry to close
Results Driven Marketing are here to help you make sense of these numbers and relate them back to the b2b data you are currently working with.
It is critical that companies look at the quality of their database rather than the quantity.
A data cleanse can help you reduce the number of critical errors your database contains and combining that with fresh information, to supplement your database via supply of new information or data enrichment, we can greatly increase response rates your current campaigns.
To find out more on how we can help you generate new business, contact us today on 0191 406 6399 or drop us an email info@rdmarketing.co.uk
Results Driven Marketing
0191 496 6399
info@rdmarketing.co.uk
source: http://blog.zoominfo.com/b2b-database-infographic/
