NetProspex Report Finds B2B Marketers Struggle With Data Quality
Analysis of Millions of B2B Contact Records Reveals More Than Half of Companies Work With Unreliable Contact Data That May Be Negatively Impacting Marketing and Sales Efforts
January 22, 2013 -- !-- AddToAny BEGIN -->
WALTHAM, MA -- (Marketwire) -- 01/22/13 -- NetProspex, the leading provider of B2B data services, today announced the release of the first-ever B2B Marketing Data Benchmark Report incorporating the results of millions of B2B contact records assessed from customer and prospect databases. Companies included in the study vary in size, with revenues that range from $1 million to over $1 billion, and represent a variety of industries. The report provides the first clear and comprehensive review of the current state of marketing data across the country and points to room for improvement for companies all-around.
NetProspex assessed companies on a 5-point health scale (5 being healthiest) across four Best Practice Areas: record duplication, record completeness, phone connectability and email deliverability. The assessment found that more than 50 percent of companies had an overall data health score below 2.7, putting their data firmly in the category of "unreliable" or "risky." The report further highlights inherent risks of poor data performance in each of the Best Practice Areas and introduces considerations for improvement.
Marketing Data: Strengths and Weaknesses
Of the four Best Practice Areas in which companies were evaluated, phone connectability was the lowest scoring with a consistent health score of 1.2, or "risky." Scores were highest in the record duplication category (average score of 4.3), indicating that many organizations have identified duplicate records as the easiest challenge to address in data hygiene and management. The best performers in terms of company size by revenue across all Best Practice Areas were the largest and smallest companies, with those in the middle -- and likely in high growth mode -- experiencing a dip in overall score.
"This report demonstrates that companies of all types and size struggle with maintaining data health," said Gary Halliwell, CEO of NetProspex. "The implications of a bad database on marketing and sales performance are felt in wasted time, money, and resources. We hope this report provides not only a benchmark for companies to use in evaluating their own data management, but also inspiration to elevate their data hygiene practices."
"While there are a variety of factors that contribute to poor data including job mobility and data entry errors," Halliwell continued, "the good news is that companies can improve their data quality by instituting best practices such as assessing all records that enter their database, establishing company standards for record completeness and validity, and exploring methods to improve data on a consistent basis."
Other key findings from the report include:
- The average company database had an email deliverability of 72 percent, meaning that 72 out of 100 emails sent from this dataset would result in a delivered email
- Companies in the manufacturing industry achieved higher scores than other industries for overall email deliverability percentage of 88, while the internet and media industry had the lowest score with overall deliverability of 64 percent
- Mid-sized companies in the $25 million to $250 million range struggle the most with accurate phone contact information compared to smaller or larger companies
- The majority (over 70 percent) of companies experience challenges with record completeness, with database content in the 50-80 percent completeness range
To download the complete report, please visit http://bit.ly/databmr. Maribeth Ross, VP of Marketing at NetProspex, will provide more complete details and analysis of the findings during an hour-long webinar on Tuesday, February 26th, 2013 at 9:00am PT. Register http://mprofs.com/b2bdata.
NetProspex is the smarter B2B data partner, helping marketing and sales organizations optimize their revenue impact by lowering the barriers to database management. Thousands of B2B organizations rely on NetProspex to acquire targeted prospects to fuel high-performing marketing campaigns and create sales pipeline. At the core of NetProspex is an innovative crowd-sourced database, cleansed with proprietary CleneStep verification technology. The company's free Data HealthScan offers insights about database accuracy and relevance, while CleneProspex ensures valid contact information. Marketers can enhance data with demographic and firmographic information, including specific technologies used at target accounts. For more information visit www.netprospex.com.
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