|By Business Wire||
|April 15, 2014 11:18 AM EDT||
NetProspex, the leading provider of cloud-based B2B marketing data management services, today announced the release of its 2014 B2B Marketing Data Benchmark Report. The study, which analyzed more than 61 million records, found that many companies are using unreliable data to drive their marketing efforts, with 84 percent of marketing databases considered barely functional. The results indicate that incomplete and inaccurate data is negatively impacting the marketing organization’s ability to segment and engage prospects – ultimately leading to lost revenue and lower than expected ROI from marketing automation platforms.
The report looked at files from hundreds of companies with revenues ranging from $1 million to $1 billion and crossing a spectrum of industries, including business services, manufacturing and software among others. It found that 88 percent of records analyzed were missing basic firmographic data – industry, company revenue and number of employees – and 64 percent were missing a phone number.
The NetProspex report methodology scored database records across four marketing best practice areas, including record completeness, email deliverability, phone connectability and record duplication. Companies were rated on a 5-point health scale, with a 5 indicating optimal and a 1 as risky.
Key findings included:
- Record Completeness: On average, files analyzed scored a 2.7 on the health scale. While up slightly from the 2.5 rating in the 2013 report, completion of demographic fields like phone and location scored an average rating of 2.2, and firmographic fields scored an average rating of 1.6, suggesting that databases are not complete enough to allow for effective segmentation.
- Email Deliverability: The average file score for email deliverability was 3.1, putting most companies in the questionable category on the scale when it comes to getting their email messages into their prospect’s inbox.
- Phone Connectability: Records landed at 3.4 on the scale for phone connectability. While the improvement over last year’s data is a good sign, this still indicates that companies have a below acceptable rating for enabling sales teams to follow-up on leads or close deals.
- Record Duplication: Fairing best on the health scale two years in a row, record duplication saw an average score of 4.2. NetProspex attributes the positive rating to the rapid adoption of marketing automation platforms, which includes functionality for addressing deduplication.
“This year’s report clearly shows that the vast majority of B2B marketers are not applying enough effort and attention to their most valuable asset – the marketing database that operates at the core of their revenue generating engines,” said Derek Slayton, CMO at NetProspex. “As digital channels expand and marketers strive to more efficiently connect with potential buyers through marketing automation technology, the organizations that actively manage their marketing data are seeing dramatically better results from their marketing efforts. We are seeing this prove out consistently with our forward-thinking customers such as MediaMath, Netsuite, ReadyTalk and Confio.”
To download the complete report, please visit www.NetProspex.com, or click here. Slayton and John Donlon, principal analyst at SiriusDecisions, the leading global B2B research and advisory firm, will highlight the report results and what the findings indicate for the broader industry on a live webinar today, April 15, at 1 p.m. ET. To sign up for an inside look, go here.
NetProspex is the smarter B2B data partner. We help marketing and sales organizations optimize their revenue impact by increasing the quality and effectiveness of their marketing database. Thousands of B2B organizations rely on NetProspex to manage their marketing data in order to fuel high-performing marketing campaigns and accelerate the creation of sales pipeline. To make marketing databases accurate, targeted and actionable, the company offers a suite of data services backed by its proprietary CleneStepTM verification technology and the industry’s largest and most accurate reference database of B2B contacts and companies. For more information visit www.netprospex.com.