Dirty Data Causes A Downward Spiral For Small Businesses

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Dirty Data Causes A Downward Spiral For Small Businesses
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Small businesses (defined as businesses with fewer than 500 employees) account for 99.7 percent of all businesses in the U.S, but 90 percent of startup companies fail.

Another recent study found that an organization can generate up to 70 percent more revenue based solely on clean data. Today, 89 percent of B2B professionals categorize data quality as “extremely” or “very” important for their enterprises.

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Problem: Dirty Data Cripples Small Business Development and Efficiency

  • Dirty data costs the U.S economy $3 trillion annually and the average business 15 to 25 percent of revenue.
  • 94 percent of businesses suspect that their customer and prospect data is inaccurate.
  • Inaccurate data costs 546 hours a year per full-time sales rep, 3% of sales reps’ time.
  • 30 percent of companies have no strategy to update inaccurate or incomplete records.

Solution: Robust B2B Email Campaigns with CLEAN DATA Maximizes ROI for Small

Companies:

  • 80 percent of business professionals believe email increases customer retention.
  • 59 percent of marketers say email is their biggest source of ROI.
  • 59 percent of respondents say marketing emails influence their purchasing decisions.

Sky Cassidy, CEO of MountainTop Data, points out that a company’s CRM be scrubbed with basic internal processes on a weekly basis to assure all leads, customer info. and sales data be accurate.

“It’s best to use a 3rd party data intelligence specialist on an ongoing basis when it comes to cleaning and appending lists.”

“Just as people use a doctor to help fix a health problem, it is smart to use a data specialist to fix a company’s lists.” ~ Cassidy

3 top questions Cassidy says to ask a data company to determine if they have CLEAN DATA:

Q: How many US contacts do you have in your database?

A: Many data companies will tell you they have 100 million-plus records. This is a bad sign with 150 million people employed in the US.

A: A list of this size is only possible if many of their records are duplicates or outdated dirty data.

Q: Can you exclude contacts or companies that we already have?

A: If they can’t do this, they aren’t a real data company and will have poor quality data.

Q: Can you send me a sample?

A: Check the sample for accuracy.

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