Admin May 10th, 2019
There are various methods for marketing but the most favorite one of marketers is Email Marketing. The backbone of email marketing is data. Not just data, but good data!
Bad data costs the United States more than $3 trillion per year according to Thomas Redmond. In a Harvard Business Review (HBR) article published in 2016, he explained it this way, “salespeople waste time dealing with erred prospect data and data scientists spend an inordinate amount of time cleaning data.
Data bought from large directories, where the validation process is not very accurate can create a big chunk of bad data in your CRM. Data entry errors are not the only problem and sometimes the data is out of date too, considering that decision makers often change jobs. This results in personalized or automated emails being incorrectly targeted, making bad data expensive.
According to another report by SiriusDecisions, there’s a simple formula for understanding the cost of bad data: It costs $1 to verify data as it’s entered; $10 to cleanse and de-dupe each error that slips through; and $100 per error to operate a system with bad data.
Given that between 10% and 25% of the typical B2B database is incorrect, that’s some pretty chilling math.Â
Thus, making sure that the data is clean and compatible can have a huge impact on a team’s results by, “weeding out less reliable data points and helping to filter through the noise to spot the prevalent trends.”
Packed Data Services helps marketers address a good part of the “simple data” problem by providing clean, fresh, basic CRM data including phone numbers and email addresses that are verified via a combination of software tools and human curation. For any data requirements please email us at [email protected]
