It’s been quite exciting talking to customers on understanding what do they think when we ask about “BAD DATA”. Each one of them gave a different perspective which concludes to similar challenges for everyone.
All the CRM and Marketing Automation tool community this one goes for you.
An Experian reports has published following Data Quality results:
- 67 % of businesses say some of their marketing emails bounce back after a campaign
- 78 % of companies have problems with the quality of data they collect from various channels.
- 22 % of contact data is thought to be inaccurate
So what exactly is Bad Data?
Every company has different sources from where the present information is collected. If the source is web lead, AdWords downloads or some really good events then usually the first had information is good when you’re first contacting them. The real challenge starts over time when people make a job change or get promoted in the hierarchy in companies or when there is a merger or segments their division into an entirely separate entity. The expected change is the email addresses, title, location, job roles, phone numbers and change of persona segmentation.
As marketing or sales, we have to understand and acknowledge what channel will an incorrect email address or incorrect phone number or role make on your marketing ROI or sales closures. I am sure there would be a counter view wherein it doesn’t really make an impact – as we are getting good results from your existing campaigns. Unfortunately, we tend to forget that any lead that enters your sales funnel and the duration it takes to mature there’s a good amount of possibility that the database information in your CRM is changing quicker than you think.
We have been talking about data quality with our prospects in their CRM and marketing automation tool and their thoughts about bad data. There was a lot of sessions where we been posing questions and understanding their problem solving best practices.
The idea was to do a research to deep dive and find out what really troubles CRM and marketing automation tool users in terms of bad data. We even did a survey poll wherein we asked about how they manage their data from both sources and how were they maintaining the same.
Most of them agreed that bad data is their big challenge. It underlines a question how to do marketers market to people if they do not have accurate contact information. It has been acknowledged that data decays over the time and we as marketers need to keep a tap of our data health at proper intervals.
Post our discussion and survey results it was quite surprising how complacent and nonchalant people were admitting that they have bad data and unfortunately they are not taking the required actions and steps to improve the same.
Next week we are attending The ABM innovation summit at Pier 27 San Francisco and would be talking to the best of sales and marketing gurus to understand their thoughts about bad data in CRM and marketing automation tool.
Stay tuned to our next blog in continuation to bad data.