December 10th, 2019 | by

Thanks for joining us today as we talk about the cost of bad data! Today, let’s talk money.  That’s what motivates sales guys, right?  But you know what motivates me, as a marketer, almost as much as making money? Finding out I’m wasting money!

So, question of the day is: Have you ever wondered just how much money bad data in your sales and marketing system is costing you?

Come on, you know that you spend way too much time trying to prospect with bad email addresses, bad phone numbers, wrong titles, etc…and it annoys you, because it means less time for you to find and close that next deal.

Watch the Video:

Why Your Lead Efforts are Draining Cash

Why are your lead-generation plays using up so much money ? The answer to the question is a super quick math equation.

  1. Let’s say you have 100,000 target prospects in your database that you’re trying to sell and market to.
  2. Every single year, 30-50% of those contact records go bad – new job, new company, new office location, retirement…
  3. Research shows that every bad contact record costs you $11 – even worse, you could have spent your time prospecting to someone that would have bought from you!
  4. So, if you have 50,000 contacts with bad data and each of those contacts cost you $11, you just wasted $550,000 AND you missed out on all of the deals that your competitors got to first.

Okay, so you might say, great, I’ll go spend $10,000 bucks and buy one of those lead gen lists to add 1m new contacts to my database.  That will more than cover the money I wasted.

Will it?

Most of those lists are, at best, 70% accurate.  So, now, you have 300,000 bad contacts added to your 50,000, and you’ve wasted a bunch of time, $3.9m bucks, plus the $10k you spent.

How to Stop Wasting Money With Sales Prospecting

Your best option for making sales? Go back to those 100,000 target prospects that you KNOW are the right ones for your business and invest in getting and KEEPING accurate and actionable data on them.

At ZoomInfo Powered by DiscoverOrg, our team spends all day every day doing that for you so that you can stop wasting money, spend your valuable time connecting with the right people at the right time with the right message…and start making more money.

 

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Katie Bullard
About the author

Katie Bullard

As Chief Growth Officer (CGO), Katie brings 15 years of marketing, product, and strategy experience in global, high-growth technology businesses to her role at DiscoverOrg. She has a bachelor’s and masters degree from the University of Virginia.