Marketers and sales people have depended on business cards for too long! You collect piles of contacts from trade shows, conferences, and other business events, which you have to manually input into a CRM. You keep the cards in heaping piles in case you need to refer back to them, but would you even be able to find the one you’re looking for?
Data decay happens naturally because of how often people change jobs or titles, companies go out of business, and mergers occur. Because of this, many organizations are working with B2B databases that are cluttered with outdated, invalid, or incomplete contacts. Dirty data impacts all areas of an organization, including marketing, lead generation, customer relationships, and finance.
The experts at ZoomInfo put together an infographic outlining data decay’s costly impact. Here are some statistics for you to pay attention to:
- 62% of organizations rely on marketing and prospect data that’s up to 40% inaccurate
- Up to 25% of B2B database contacts contain critical errors
- 40% of business objectives fail due to inaccurate data
- 1-10-100 rule: It costs $1 to verify a record as it’s entered, $10 to scrub and cleanse it later, and $100 if nothing is done