Clean, quality data in your CRM and databases leads to more efficient sales and more useful reporting. Do you ever wonder how you rank for data quality? We asked that same question and it inspired us to create the first annual Data Quality Benchmark Report.
In collaboration with B2B Fusion Group, we surveyed 55 companies covering the different dimensions of quality for sales and marketing databases.
While we encourage you to read the full report, here’s a high level look at the results.
36% of respondents are in marketing operations, and these folks have taken the role as the data steward. What’s even more interesting is the fact that many organizations lack a data steward completely. The majority said they did not have an official owner of the data within their organization.
The vast majority of respondents use Salesforce (62%), and some companies do not have a CRM at all (5%). The survey options include Salesforce, Oracle, Netsuite, Microsoft Dynamics, None and Other. As you can see below, some of them did not get any votes. Out of all the companies that do have a CRM system, the majority (42%) have less than 25 users.
While deduplication, normalization, completeness, accuracy and validation were all important, the top priority was “other.” In other words, 33% felt that when it comes to data, there are other priorities besides the data quality aspects provided in the survey.
While many found “other” important aspects of data, we did learn that data quality is important to both the respondents and their organizations.
From hiring to getting software to outsourcing, there are many ways to tackle dirty data. Most respondents said licensing software (26%) and hiring (30%) were the top ways they handled data quality.
It seems respondents are keeping bad data at bay. When asked the percentage of duplicate leads, the majority (31%) said 1-5%. For contacts, 44% said 1-5% were duplicates. When it came to duplicate accounts, respondents had it under control with less than 1% of duplicates (42%).
While duplicates seemed to be covered, the challenge of data validity is a concern. More than 50% of respondents said they are not ensuring contact data validity or email address validity. In addition, nearly 60% said they cannot confirm that their data is fresh. They are finding out about bad data through email bounces and direct outreach.
Read the full report for more insights at the button below.