DiscoverOrg Releases Research Report on the High Costs of Bad Data
DiscoverOrg has always preached the importance of having clean and up-to-date data at the fingertips of marketing and sales teams, but over the last few months the rhetoric around the importance of good data has really ramped up from Marketing Automation vendors, Appointment Setting and Lead Generation companies, and the sales and marketing teams at major technology organizations who are looking for every opportunity to make their teams more efficient.
The study released today combines research from a variety of sources including Eloqua, a leading marketing automation company, LeadJen, a marketing services company, and MarketingSherpa, a marketing research company.
Some of the key findings show that one bad record costs on average $11.00 (source: Eloqua), that inside sales reps waste on average 27% of their time on bad data (source: LeadJen), and that data degrades at a rate of 2.1% a month (source: MarketingSherpa).
“If you don’t have live research analysts dedicated to keeping information up-to-date and accurate you will undoubtedly be wasting hundreds of thousands, if not millions, of dollars each year in wasted productivity,” says Henry Schuck, DiscoverOrg’s Vice President of Sales.
A list of 10,000 names that costs $10,000.00 in initial acquisition will end up having an actual cost of $43,000.00 if only 30% of the information is inaccurate-and that does not take into account lost productivity time for sales reps. DiscoverOrg protects against wasted investment in lead generation and marketing programs by dedicating 55+ research analysts to cleaning and updating the data on IT Decision Makers that its customers have access to.
“Sales and Marketing teams must realize that the cost of data is not about the initial acquisition costs, it’s really about the effectiveness of the data and there is no way you can get the ROI you’re looking for from a service provider who is not actively updating and adding to its data sets,” Schuck adds.
DiscoverOrg profiles the IT Departments of over 9,500 Fortune Ranked, Mid-Market, Government and Higher Education Organizations. The data collected and constantly updated by DiscoverOrg is managed through an in-house team of 55+ research analysts who staff a call center in Vancouver, Washington and conduct hundreds of interviews daily with IT Decision Makers at the profiled accounts. With over 92+% Direct Dial Phone Numbers and 98% verified email addresses, the DiscoverOrg database provides sales and marketing teams the information they need to get in front of IT Decision Makers at their targeted accounts. The Company’s database of IT Decision Makers has over 200,000 Records. Each Account in the DiscoverOrg database also includes an IT Org Chart which lets users see a map of the decision making hierarchy and their targeted accounts. For more information, click here.