Here at ZoomInfo, the sales team often hears in conversations with folks who are evaluating B2B contact data providers that the “cost-per-record” is a large influencing factor, if not the most important factor, to decide where they decide to invest their sales and marketing budget.
We challenge you to think about how the financial impact of the records you invest in goes much further than the up-front cost of each record. There is often a forgotten expense that doesn’t show up on the invoice; let’s explore.
Investigating Contact Data and Cost Per Contact
Let’s assume you invest in 50,000 records for your sales and marketing efforts from a B2B data provider company. The cost-per-record will vary depending on where you buy those records from, usually anywhere from $0.10-$1.00+/record.
These days, the average salary of a sales/business development/demand generation representative is somewhere close to $28/hour (~$57,000/year). Let’s say you have a team of at least 3-5 of these folks in your company, and likely a lot more. An inevitable and integral piece of those representatives’ job is to qualify and disqualify leads as quickly as possible.
Did you know that on average it takes 10 minutes to research, call, email, and delete just one “bad” or “dead” record from a database/lead-list?
Did you also know that 65% of the B2B records most data providers sell you are usable?
In that case, from those 50,000 records you purchased, it will take 175,000 minutes for your team to whittle the data down to the 32,500 (65%) usable records (10 minutes/record X 17,500 (35%) non-usable records) = 175,000 minutes). This equates to roughly 2,917 hours, which equates to $81,676 ($28/hour X 2,917 hours).
Regardless of “cost-per-record,” $81,676 of your reps’ salaries are being spent just to weed out bad data.
So how do you minimize that burden?
What if 90% of the records you invest in were usable?
In that case, it will only take 50,000 minutes for your team to whittle down the data to the 40,000 (90%) usable records (10 minutes X 5,000 (10%) non-usable records = 50,000 minutes). This equates roughly to 834 hours, which equates to $23,352 ($28/hour X 834 hours).
When you look at $23,352 vs. $81,676, wouldn’t you pay more “per-record” to make sure you have the lowest expense?
Your CEO/executive leadership team will likely prefer that you lower that expense, and he/she will remember that come year-end bonus-time.
There will always be more to B2B contact data than just the cost-per-record figure. And, you have the power to control how efficiently your investment goes to work for you!
Grow your business with ZoomInfo. Our business database is the tool you need to scale your sales efforts and generate more revenue. Learn more by contacting us today.