B2B data isn’t glamorous. Yet, without it, sales wouldn’t happen and successful campaigns wouldn’t exist. To make things more complicated, data decays rapidly as people change jobs, companies go out of business, and mergers occur. In fact, 62% of organizations rely on inaccurate prospect data (source).
Continue reading to learn how to analyze your existing marketing database and achieve company growth in 2017.
The 5 Cs of Contact Data Quality
Analyzing marketing data can be a daunting, but necessary, task. We recommend using the 5 C’s of data quality—current, correct, consistent, complete, and coverage—to determine where your B2B data is lacking.
Unfortunately, most sales and marketing technologies rely on up-to-date contact data. Ask yourself, what types of checks and balances do you have in place to ensure that your data stays current.
Although this may seem like a repeat of our previous point, the concept of correctness should apply to incoming data as well as existing data..
Think of how many times you’ve seen a new lead come in with a critical typo. It doesn’t matter how great your subject lines and banner graphics are, without correct contact information, your follow-up email will never reach the desired inbox.
From a technical standpoint, inconsistent data can hurt lead routing, scoring, and reporting. From a marketing standpoint, data consistency can be the difference between an effective and embarrassing attempt at personalization.
Let’s pretend a lead was in a hurry and comes into your CRM as “jOE.” Without data normalization capabilities, the automated follow-up DRIP campaign will probably read, “Hi jOE.” Not the best first impression.
It’s no secret that shorter forms have better conversion rates. In fact, research done by Formstack has found that reducing the number of form fields to 10 or under increases conversions by 120% (source). Unfortunately, less form fields, means less information.
Run tests to find the optimal number of form fields for your website. Then, work with a b2b data provider to fill in any gaps.
In the B2B world, buying committees are no longer the exception. According to CEB, on average, 5.4 people are involved in today’s B2B purchase decisions (source).
Getting one person to express interest in your product is a win. But whether you want to calculate your Total Addressable Market (TAM), cross-sell to a different department, or penetrate a new vertical, you need coverage.
Don’t let poor data hold your sales and marketing performance back. ZoomInfo can help! Contact us today to learn about our contact database.