Did you know that more than one in three people plan to change jobs this year? According to a recent survey by the Institute of Leadership and Management, 37% of workers and managers plan to leave their current jobs, which means Joe from accounting and Kristin from HR could be updating their resumes as we speak.
Thousands of people quit, retire, or change jobs every year. So, what’s the big deal? What does that have to do with marketing? Two words: data quality. As people move from one company to another their email addresses and phone numbers change, meaning the accuracy of your records degrades. Unless you’re consistently refreshing your contact database, there’s a good chance you’re working with data that’s inaccurate or outdated, meaning it’s no longer valuable.
According to our “2015 State of Marketing Data” report, when it comes to record completeness, only 24% of the 223 million records analyzed were classified as functional or higher. 54% of the records didn’t even include a phone number. This means there are outdated email addresses and phone numbers undermining your outbound marketing campaigns and interfering with the nurturing of prospects and existing customer relationships.
Needless to say, when reading ANNUITAS’ “B2B Enterprise Demand Generation” report, we weren’t surprised to learn that more than 60% of B2B enterprises feel their demand generation programs aren’t effective.
Unfortunately, data attrition is a fact of marketing life. Marketers should strive, however, to stay on top of data hygiene best practices and, when appropriate, employ contact data cleansing solutions, which easily identify and remove data quality issues such as erroneous, duplicate or incomplete data from your database. It’s a lot easier than you think to start taking control of your data quality.
Rather than weakening your marketing effectiveness and top line revenue growth potential with poor quality data, take the time to clean it up. Not sure what’s under the hood of your database? Our Workbench solution can tell you in minutes. Try it out for yourself—it’s free!