1 / 7

Acquired Data Benchmark Report Resource Overview Dun & Bradstreet sponsored a Demand Metric study to learn how companie

Two broad approaches exist to improve data quality, accuracy and completeness: an in-house data hygiene process, and using external data or services. In a study sponsored by Dun & Bradstreet, Demand Metric studied both approaches, looking closely at the use of acquired data in sales and marketing applications/solutions. The goal of the study was to learn how companies are using acquired data and how that data is making a difference in campaigns, demand generation and other key results. This report details the findings of this study, providing benchmarks for acquired data performance and making the case for its use.

demandmetric
Download Presentation

Acquired Data Benchmark Report Resource Overview Dun & Bradstreet sponsored a Demand Metric study to learn how companie

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Acquired Data Benchmark Report Resource Overview Dun & Bradstreet sponsored a Demand Metric study to learn how companies are using acquired data and how that data is making a difference in campaigns, demand generation and other key results. © 2016 Demand Metric Research Corporation. All Rights Reserved.! Benchmark Report! Marketing with Acquired Data April 2016 Sponsored By: H i g h P e r f o r m a n c e M a r k e t i n g EMAND ETRICD M

  2. TABLE OF CONTENTS 3 4 6 9 17 Introduction Executive Summary The State of Data Quality The Impact of Data Quality Issues Marketing with Acquired Data 30 32 About Dun & Bradstreet Appendix: Survey Background 27 29 Analyst Bottom Line Acknowledgements 31 About Demand Metric TABLE OF CONTENTS 3 4 6 9 17 Introduction Executive Summary The State of Data Quality The Impact of Data Quality Issues Marketing with Acquired Data 30 32 About Dun & Bradstreet Appendix: Survey Background 27 29 Analyst Bottom Line Acknowledgements 31 About Demand Metric

  3. INTRODUCTION Marketers collect, store and use a lot of customer data, from a varied set of sources. Because marketing is actively engaged in demand generation and lead nurturing activities using new and changing technology, the ability to capture, store, repurpose and reuse data continues to expand, as does the sheer quantity of data available. The modern marketing organization is skilled at casting a wide, digital net to gather leads, qualify them and convert them too. Sales teams depend heavily on marketing’s ability to keep the pipeline of qualified leads full. In fact, a company’s success depends on marketing having an effective process for generating demand. The technology at marketing’s disposal for doing this work has become increasingly capable and sophisticated. The Achilles heel to the demand generation process, is at its very foundation: the quality of the data. Prospects don’t always cooperate by surrendering their correct or complete contact information on those beautiful landing pages marketing creates. Even when the data in marketing automation or CRM systems is initially correct, it doesn’t stay that way: people change jobs or retire. Companies move, merge, are acquired, change business focus and go out of business. There are many reasons why the data in key marketing and sales systems goes stale or bad. Current, accurate and complete data is necessary for marketing to run effective campaigns and for sales to engage with prospects. Yet, less than half of participants in this study report having an effective process to ensure the quality of data in their key systems. Two broad approaches exist to improve data quality, accuracy and completeness: an in-house data hygiene process, and using external data or services. In a study sponsored by Dun & Bradstreet, Demand Metric studied both approaches, looking closely at the use of acquired data in sales and marketing applications/solutions. The goal of the study was to learn how companies are using acquired data and how that data is making a difference in campaigns, demand generation and other key results. This report details the findings of this study, providing benchmarks for acquired data performance and making the case for its use. INTRODUCTION Marketers collect, store and use a lot of customer data, from a varied set of sources. Because marketing is actively engaged in demand generation and lead nurturing activities using new and changing technology, the ability to capture, store, repurpose and reuse data continues to expand, as does the sheer quantity of data available. The modern marketing organization is skilled at casting a wide, digital net to gather leads, qualify them and convert them too. Sales teams depend heavily on marketing’s ability to keep the pipeline of qualified leads full. In fact, a company’s success depends on marketing having an effective process for generating demand. The technology at marketing’s disposal for doing this work has become increasingly capable and sophisticated. The Achilles heel to the demand generation process, is at its very foundation: the quality of the data. Prospects don’t always cooperate by surrendering their correct or complete contact information on those beautiful landing pages marketing creates. Even when the data in marketing automation or CRM systems is initially correct, it doesn’t stay that way: people change jobs or retire. Companies move, merge, are acquired, change business focus and go out of business. There are many reasons why the data in key marketing and sales systems goes stale or bad. Current, accurate and complete data is necessary for marketing to run effective campaigns and for sales to engage with prospects. Yet, less than half of participants in this study report having an effective process to ensure the quality of data in their key systems. Two broad approaches exist to improve data quality, accuracy and completeness: an in-house data hygiene process, and using external data or services. In a study sponsored by Dun & Bradstreet, Demand Metric studied both approaches, looking closely at the use of acquired data in sales and marketing applications/solutions. The goal of the study was to learn how companies are using acquired data and how that data is making a difference in campaigns, demand generation and other key results. This report details the findings of this study, providing benchmarks for acquired data performance and making the case for its use.

  4. EXECUTIVE SUMMARY Data quality is every organization’s ongoing challenge. The participants in this study’s survey shared information about their current data quality status, issues and usage of acquired data. A majority of survey respondents were from B-to-B organizations that are experiencing revenue growth. Companies in the survey ranged in size from less to $10 million to over $1 billion. Some of the key findings that came from the analysis of survey responses include: !  Data quality issues are not the exception, but the rule. The average rating for data completeness, currency and accuracy does not exceed 50% for any of these quality dimensions. !  Data quality is directly related to data hygiene practices, but only 39% report having an effective process for this. !  Only 4% say their budget for improving data quality is ample. !  80% of respondents say data problems interfere with sales and marketing efforts sometimes, frequently or always. !  Just under half of firms surveyed are using purchased or acquired data in their key sales or marketing systems. !  Over three-fourths of study participants report that acquired or purchased data is somewhat or very important to helping improve the accuracy, currency or completeness of data in key sales or marketing systems. 4 EXECUTIVE SUMMARY Data quality is every organization’s ongoing challenge. The participants in this study’s survey shared information about their current data quality status, issues and usage of acquired data. A majority of survey respondents were from B-to-B organizations that are experiencing revenue growth. Companies in the survey ranged in size from less to $10 million to over $1 billion. Some of the key findings that came from the analysis of survey responses include: !  Data quality issues are not the exception, but the rule. The average rating for data completeness, currency and accuracy does not exceed 50% for any of these quality dimensions. !  Data quality is directly related to data hygiene practices, but only 39% report having an effective process for this. !  Only 4% say their budget for improving data quality is ample. !  80% of respondents say data problems interfere with sales and marketing efforts sometimes, frequently or always. !  Just under half of firms surveyed are using purchased or acquired data in their key sales or marketing systems. !  Over three-fourths of study participants report that acquired or purchased data is somewhat or very important to helping improve the accuracy, currency or completeness of data in key sales or marketing systems. 4

  5. EXECUTIVE SUMMARY !  The most important result coming from the use of acquired data is producing better ROI for sales or marketing, according to 80% of survey respondents. !  The greatest challenge to using acquired data, identified by almost one-third of study participants, is having confidence in the quality of the data. This report details these results and other insights from the analysis of this study’s data. For more detail on the survey participants, please refer to the Appendix. 5 EXECUTIVE SUMMARY !  The most important result coming from the use of acquired data is producing better ROI for sales or marketing, according to 80% of survey respondents. !  The greatest challenge to using acquired data, identified by almost one-third of study participants, is having confidence in the quality of the data. This report details these results and other insights from the analysis of this study’s data. For more detail on the survey participants, please refer to the Appendix. 5

  6. ABOUT DUN & BRADSTREET Dun & Bradstreet (NYSE: DNB) grows the most valuable relationships in business. By uncovering truth and meaning from data, we connect customers with the prospects, suppliers, clients and partners that matter most, and have since 1841. Nearly 90% of the Fortune 500, and companies of every size around the world, rely on Dun & Bradstreet’s data, insights and analytics for their organizations. For more about Dun & Bradstreet, visit www.DNB.com. 30 ABOUT DUN & BRADSTREET Dun & Bradstreet (NYSE: DNB) grows the most valuable relationships in business. By uncovering truth and meaning from data, we connect customers with the prospects, suppliers, clients and partners that matter most, and have since 1841. Nearly 90% of the Fortune 500, and companies of every size around the world, rely on Dun & Bradstreet’s data, insights and analytics for their organizations. For more about Dun & Bradstreet, visit www.DNB.com. 30

  7. ABOUT DEMAND METRIC Demand Metric is a marketing research and advisory firm serving a membership community of over 55,000 marketing professionals and consultants in 75 countries. Offering consulting methodologies, advisory services, and 500+ premium marketing tools and templates, Demand Metric resources and expertise help the marketing community plan more efficiently and effectively, answer the difficult questions about their work with authority and conviction and complete marketing projects more quickly and with greater confidence, boosting the respect of the marketing team and making it easier to justify resources the team needs to succeed. To learn more about Demand Metric, please visit: www.demandmetric.com. 31 ABOUT DEMAND METRIC Demand Metric is a marketing research and advisory firm serving a membership community of over 55,000 marketing professionals and consultants in 75 countries. Offering consulting methodologies, advisory services, and 500+ premium marketing tools and templates, Demand Metric resources and expertise help the marketing community plan more efficiently and effectively, answer the difficult questions about their work with authority and conviction and complete marketing projects more quickly and with greater confidence, boosting the respect of the marketing team and making it easier to justify resources the team needs to succeed. To learn more about Demand Metric, please visit: www.demandmetric.com. 31

More Related